Galaxy Surfactants jumped 5.4% to Rs 1786.25 after the company posted a 21.9% rise in consolidated net profit to Rs 81.74 crore on a 10.8% rise in net sales to Rs 718.68 crore in Q2 September 2020 over Q2 September 2019.
The company said increase in revenue was on account of better sales volumes in both performance surfactants and specialty care business and better sales mix. The company's total volume increased by 10.4% year on year to 63,026 MT in Q2 September 2020. The result was announced after market hours yesterday, 11 November 2020.Profit before tax increased by 57.2% year on year to Rs 106.19 crore in Q2 September 2020 over Q2 September 2019. EBITDA jumped 41.2% year on year to Rs 126.1 crore in Q2 September 2020, driven by increasing share of specialty, better product mix due to new products and higher capacity utilization. EBITDA margin improved to 17.4% in Q2 September 2020 from 13.7% in Q2 September 2019.
Commenting on the performance, U. Shekhar, MD of Galaxy Surfactants said, "Q2 FY 2020-21 has been a historical quarter for us. It gives me immense pleasure to share with you all that Galaxy Surfactants has registered its highest quarterly Volumes EBITDA and PBT in this quarter. Our Consolidated PBT has crossed the Rs 100 Crores mark for the first time in this quarter. Growth has been driven by both the segments across geographies. While India has made a strong comeback, the momentum remains intact as far as the Africa, Middle East and Turkey is concerned, which continues to grow ahead of the market. Rest of the World markets too have registered strong growth sequentially. Improving share of specialties, new products mix and higher capacity utilisations aided margins. To conclude, consistency is what defines us and despite the volatility, operational challenges, and difficulties, yet again we have ensured we deliver a consistent performance."
Galaxy Surfactants is a leading manufacturer of performance surfactants and specialty care products with over 205 product grades used in home and personal care industry.
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