Galaxy Surfactants rallied 4.27% to Rs 2,421.25 after the company's consolidated net profit surged 132.8% to Rs 106.21 crore in Q3 FY23 from Rs 45.62 crore in Q3 FY22.
Net revenue from operations rose by 16.3% year on year (YoY) to Rs 1,080.26 crore in the quarter ended 31 December 2022.Total volumes stood at 59,364 million tons (MT) for Q3 FY23 as against 58,027 million tons (MT) in Q3 FY22, up by 0.6% YoY.
Among geographies, the Indian market recorded a growth of 12.2% YoY. However, Rest of the world markets and Africa Middle East Turkey (AMET) markets de-grew 8.9% YoY and 6.4% YoY, respectively.0
While Performance Surfactants volume rose 5.9% YoY to 39,156 MT, Specialty Care Products volume declined 8.7% to 19,208 MT in Q3 FY23 over Q3 FY22.
Profit before tax soared 127% to Rs 130.69 crore in the quarter ended 31 December 2022 from Rs 57.58 crore reported in the same period last year.
EBITDA jumped 101.9% to Rs 157.8 crore in Q3 FY23 from Rs 78.1 crore in Q3 FY22. EBITDA margin improved to 14.6% in Q3 FY23 as compared to 8.4% in Q3 FY22.
EBITDA per MT stood at Rs 27,037 for Q3FY23 as against Rs 13,468 in Q3FY22, a growth of 100.8% on a YoY basis.
Shekhar, managing director, Galaxy Surfactants, said, On the macro front, while global demand continues to remain uncertain, a significant improvement on the supply front has aided performance. India remains a bright spot for us. While the slowdown in Europe adversely impacted specialty volumes in this quarter, QoQ improvement in AMET volumes is a positive sign.
Galaxy Surfactants is leading manufacturers of performance surfactants and specialty care products with over 220+ product grades. These products are used in consumer-centric home and personal care products like hair care, oral care, skin care, cosmetics, soap, shampoo, lotion, detergent, cleaning products etc.
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