GALAXYSURF - Galaxy Surfact.
📢 Recent Corporate Announcements
Galaxy Surfactants has appointed Mr. Narendra Saini as its Chief Digital Officer effective March 02, 2026. Mr. Saini is a seasoned professional with over 25 years of experience and an academic background from IIT Roorkee and IIT Delhi. His expertise includes Robotic Process Automation (RPA), IoT, and the establishment of Generative AI Centers of Excellence. This move indicates the company's focus on manufacturing digitization and data-driven operational efficiency.
- Mr. Narendra Saini appointed as Chief Digital Officer effective March 02, 2026
- Brings over 25 years of experience in Enterprise BI, RPA, and Data Engineering
- Educational credentials include an M. Tech from IIT Delhi and alumni status of IIT Roorkee
- Expertise in leading enterprise-wide data governance and Generative AI initiatives
Galaxy Surfactants reported a 13% YoY increase in Q3 FY26 EBITDA to INR 124 crores, with EBITDA per metric ton improving to INR 20,156. While consolidated volumes remained stable, the Specialty segment showed resilience with high single-digit growth, offsetting a decline in Performance Surfactants. A major structural positive is the reduction of U.S. reciprocal tariffs on Indian exports from 50% to 18%, which is expected to boost North American volumes. Management expects a recovery in the AMET region and India performance volumes starting Q4 FY26.
- Q3 FY26 EBITDA increased 13% YoY to INR 124 crores with EBITDA per MT rising to INR 20,156.
- Reciprocal tariffs on Indian exports to the U.S. reduced from 50% to 18%, aiding specialty segment competitiveness.
- India specialty business volume grew by over 35% YoY, despite overall domestic volume growth of mid-single digits.
- Recognized a one-time exceptional charge of INR 11.9 crores related to the new labor code provisions.
- Launched 5 new second-generation Sun Care products (GalSORB range) for commercialization in Q4 FY26.
Galaxy Surfactants Limited has officially released the audio recording of its investor conference call held on February 16, 2026. The call addressed the company's operational and financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI Listing Obligations and Disclosure Requirements. Investors can access the full recording through the company's website to understand management's perspective on recent results.
- Audio recording of the Q3 FY26 investor conference call is now available for public review.
- The discussion focused on financial performance for the nine-month period ending December 31, 2025.
- Submission made in compliance with Regulation 46 of SEBI (LODR) Regulations, 2015.
- Recording is accessible via the company's official investor relations presentations link.
Galaxy Surfactants reported a strong 27.6% YoY revenue growth in Q3FY26, reaching ₹1,334.3 crore, primarily driven by a robust performance in the Specialty Care segment. However, PAT declined by 8.8% YoY to ₹59 crore, impacted by a ₹11.9 crore statutory charge related to new labor codes and margin compression. While India and ROW regions showed resilience with mid-single-digit volume growth, the AMET region faced a significant high double-digit volume decline due to competitive intensity. The company's EBITDA/MT improved to ₹20,156, reflecting a better product mix despite flat overall volumes.
- Revenue grew 27.6% YoY to ₹1,334.3 crore, while EBITDA rose 13.3% to ₹124.2 crore.
- PAT decreased by 8.8% YoY to ₹59.0 crore, affected by a ₹11.9 crore exceptional item for labor codes.
- Specialty Care segment in India delivered a robust 35% YoY volume growth, offsetting softness in performance surfactants.
- AMET region volumes saw a high double-digit decline due to heightened competition, while ROW grew in mid-single digits.
- EBITDA per Metric Ton (MT) improved to ₹20,156, supported by a favorable product mix and cost management.
Galaxy Surfactants reported a 27.6% YoY increase in revenue to ₹1,334.3 crore for Q3FY26, despite consolidated volumes remaining flat. EBITDA grew 13.3% YoY to ₹124.2 crore, with EBITDA per MT improving to ₹20,156 due to a favorable product mix and disciplined cost management. PAT declined by 8.8% YoY to ₹59 crore, primarily impacted by a one-time exceptional charge of ₹11.9 crore related to new labor codes. While the AMET region faced a high-teen volume decline due to competition, the Indian specialty segment showed robust 35% growth.
- Revenue increased 27.6% YoY to ₹1,334.3 crore, while EBITDA rose 13.3% to ₹124.2 crore.
- EBITDA per MT improved to ₹20,156 from ₹17,527 in Q3FY25, reflecting better margin realization.
- Specialty Care segment in India delivered 35% YoY volume growth, cushioning softness in Tier-1 accounts.
- AMET region volumes declined in the high teens YoY due to intensified local competition.
- PAT of ₹59 crore was impacted by a ₹11.9 crore exceptional item for statutory impact of new labor codes.
Galaxy Surfactants reported a strong 27.6% YoY growth in consolidated revenue for Q3 FY26, reaching ₹1,329.49 crore. However, Profit After Tax (PAT) declined by 8.7% YoY to ₹58.97 crore, primarily impacted by an exceptional charge of ₹11.88 crore related to the implementation of new Labour Codes. On a nine-month basis, revenue grew significantly by 27.8% to ₹3,933.58 crore, though PAT remained lower at ₹204.95 crore compared to ₹229.04 crore in the previous year. The company is also managing a legal dispute regarding land in Gujarat with a carrying value of ₹73.10 crore, currently under interim stay.
- Consolidated Revenue from operations grew 27.6% YoY to ₹1,329.49 crore in Q3 FY26.
- Net Profit (PAT) for the quarter stood at ₹58.97 crore, down from ₹64.61 crore in the same period last year.
- An exceptional item of ₹11.88 crore was recorded due to the notification of new Labour Codes affecting employee benefits.
- Cost of materials consumed rose sharply to ₹954.45 crore in Q3 FY26 from ₹744.03 crore in Q3 FY25.
- Nine-month revenue reached ₹3,933.58 crore, showing robust top-line momentum despite bottom-line pressure.
Galaxy Surfactants Limited has announced its analyst and investor conference call to discuss the operational and financial performance for the third quarter and nine months ended December 31, 2025. The call is scheduled for Monday, February 16, 2026, at 12:00 Noon IST. Senior management, including the Managing Director, COO, and CFO, will be present to address queries. This is a routine regulatory filing under SEBI Listing Obligations and Disclosure Requirements.
- Earnings conference call scheduled for February 16, 2026, at 12:00 PM IST.
- Management team including MD Mr. K. Natarajan and CFO Mr. Abhijit Damle to participate.
- Discussion will focus on Q3 and 9MFY26 operational and financial results.
- Dial-in numbers for the call include +91 22 6280 1309 and +91 22 7115 8210.
- International toll-free access available for Hong Kong, Singapore, UK, and USA.
Galaxy Surfactants Limited has officially refreshed its corporate logo as of January 22, 2026, to mark a new phase of growth. The company stated that the new identity is rooted in its core philosophy of 'Chemistry Creates Care,' emphasizing innovation, partnership, and sustainability. Importantly, the management confirmed that there are no changes to the nature of business, operations, or services provided by the company. This branding update aims to reflect a contemporary and agile outlook while maintaining the trust built over the last 40 years.
- Galaxy Surfactants refreshed its corporate logo on January 22, 2026, to align with a contemporary and future-ready outlook.
- The company confirmed that there is zero change in the nature of business, operations, or services provided.
- The new identity carries forward the legacy of trust built over the past 40 years since the company's inception.
- The rebranding focuses on three pillars: purposeful chemistry, human-centric care, and progressive momentum.
Galaxy Surfactants Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the Registrar and Transfer Agent, MUFG Intime India Private Limited, processed all dematerialization requests for the quarter ended December 31, 2025. The certificate verifies that share certificates were mutilated and cancelled after due verification within the prescribed timelines. This is a standard administrative procedure to ensure the accuracy of the company's shareholding records.
- Compliance certificate issued for the quarter ended December 31, 2025.
- Confirmation provided by Registrar & Transfer Agent MUFG Intime India Private Limited.
- Verification that dematerialized shares are listed on the relevant stock exchanges.
- Confirmation that share certificates were mutilated and cancelled as per SEBI guidelines.
- The filing ensures adherence to regulatory timelines for investor service requests.
Galaxy Surfactants Limited has announced a group meeting with analysts and institutional investors scheduled for January 19, 2026. The meeting is set to take place at Jhagadia, Gujarat, starting from 11:00 am onwards. The company has explicitly stated that the discussions will be based solely on publicly available information. No unpublished price sensitive information (UPSI) is intended to be shared during this interaction, making it a standard regulatory disclosure.
- Group meeting with institutional investors and analysts scheduled for January 19, 2026
- Meeting to be held at Jhagadia, Gujarat, starting at 11:00 am
- Discussions will be restricted to publicly available information only
- Compliance filing under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
Galaxy Surfactants Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter and nine months ending December 31, 2025. The trading window will remain closed until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be notified separately.
- Trading window closure for designated persons starts on January 1, 2026.
- Closure is in relation to the financial results for the quarter and nine months ended December 31, 2025.
- The window will reopen 48 hours after the official announcement of the financial results.
- Board meeting date for result approval to be communicated to stock exchanges in due course.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations grew 11.3% YoY to INR 4,223.67 Cr in FY25 from INR 3,794.38 Cr. Performance Surfactants volume grew 5.0% to 1,67,423 MT, while Specialty Care volume remained nearly flat with 0.2% growth to 89,375 MT. Standalone revenue grew 9.3% to INR 3,001.27 Cr.
Geographic Revenue Split
Volume distribution for FY25: India contributed 44% (1,12,977 MT, down 1.9% YoY), AMET (Africa, Middle East, Turkey) contributed 27% (69,274 MT, down 1.0% YoY), and Rest of the World (ROW) contributed 29% (74,547 MT, up 17.6% YoY).
Profitability Margins
Consolidated PAT margin declined to 7.2% in FY25 from 7.9% in FY24. Standalone PAT margin was 5.8% compared to 7.3% in the previous year. The decline is attributed to lower fixed cost absorption and margin pressures across segments despite stable volumes.
EBITDA Margin
Consolidated EBITDA margin was 12.1% in FY25, a decrease from 13.1% in FY24. EBITDA per tonne decreased 0.8% to INR 19,868. Total consolidated EBITDA rose 2.5% to INR 510.04 Cr due to higher overall volumes despite the margin compression.
Capital Expenditure
The group is expected to incur capital expenditure of INR 150-175 Cr per annum over the medium term. This capex is planned to be funded entirely through internal accruals of over INR 300 Cr per annum.
Credit Rating & Borrowing
CRISIL AA-/Stable (Long Term) and CRISIL A1+ (Short Term) reaffirmed as of October 2025. Interest coverage ratio remained healthy at over 25 times in FY25, though it decreased from 37 times in FY24 due to higher finance charges of INR 19.25 Cr.
Operational Drivers
Raw Materials
Oleochemical-based fatty alcohols (primary source), petrochemical-based surfactants (competitor source). Raw material costs are a significant portion of the cost structure, though specific percentage splits per material are not disclosed.
Import Sources
Not explicitly disclosed, but the company operates a major subsidiary in Egypt (Galaxy Chemicals S.A.E.) to service the AMET region and sources globally for its Indian operations.
Capacity Expansion
Galaxy is the largest player of surfactants derived from oleochemical sources in India. Specific MTPA capacity figures are not provided, but the company is currently going slow on commercializing pipeline projects due to inflationary concerns.
Raw Material Costs
Raw material price volatility and shipment delays impacted margins in previous cycles (e.g., FY22 margin drop to 10.9%). Procurement is managed through a mix of sourcing efficiencies and passing on costs to customers where possible.
Manufacturing Efficiency
EBITDA per tonne is the primary efficiency metric, which stood at INR 19,868 in FY25. Fixed cost absorption was lower in FY24/FY25, impacting overall margins.
Logistics & Distribution
Distribution is global, with ROW volumes growing 17.6% in FY25. Logistics costs are sensitive to global freight rates and supply chain disruptions.
Strategic Growth
Expected Growth Rate
12-14%
Growth Strategy
Strategy involves aggressive marketing in Tier 2 and Tier 3 Indian cities to recoup volume losses in Tier 1, hunting for new customers in ROW markets (which grew 17.6% in FY25), and focusing on high-margin specialty care products. The company is also executing an EPC contract for a construction-type project to generate fee income.
Products & Services
Surfactants and specialty chemicals used as intermediates in the Home and Personal Care (HPC) industry, including ingredients for shampoos, detergents, and skin care products.
Brand Portfolio
Galaxy Surfactants (Corporate Brand). Specific consumer-facing brand names are not owned as the company is a B2B supplier.
New Products/Services
Focus on 'Specialty Care' segment products; however, new product revenue contribution percentages are not specifically disclosed.
Market Expansion
Expansion is focused on the ROW (Rest of World) market, specifically Latin America and APAC, which showed strong results in Q2 FY26.
Market Share & Ranking
Established leader in the HPC intermediates market in India; largest player of oleochemical-based surfactants in the country.
External Factors
Industry Trends
The HPC industry is shifting toward sustainable, oleochemical-based ingredients. Galaxy is positioned as a leader in this shift, moving away from petrochemical sources. The industry is currently seeing flat to 2% volume growth globally.
Competitive Landscape
Competitors include manufacturers of petrochemical-based surfactants. Galaxy competes on its 'green' oleochemical profile and large-scale manufacturing capacity.
Competitive Moat
Moat is built on 40+ years of technical expertise in surfactants, deep-rooted relationships with global FMCG majors, and a specialized manufacturing footprint that is difficult for competitors to replicate quickly.
Macro Economic Sensitivity
Highly sensitive to global inflation, which dampens consumer demand in the HPC sector and leads to lower volume growth (only 3.3% total volume growth in FY25).
Consumer Behavior
Shift toward premiumization and specialty personal care products in ROW markets is driving the 17.6% volume growth in that segment.
Geopolitical Risks
Geopolitical uncertainties in the AMET region and potential tariff wars are cited as factors that could either disrupt supply or create opportunities in international markets.
Regulatory & Governance
Industry Regulations
Operations are subject to SEBI (LODR) Regulations 2015 for disclosures and Ind AS 116 for lease accounting. Manufacturing must meet global standards for HPC intermediates.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 19.8% (INR 75.54 Cr tax on INR 380.45 Cr PBT).
Risk Analysis
Key Uncertainties
Volatility in raw material prices (fatty alcohols) and global demand slowdown due to inflation (potential 5-10% impact on volume growth).
Geographic Concentration Risk
India and AMET account for 71% of total volumes (1,82,251 MT out of 2,56,798 MT), making the company vulnerable to regional economic downturns.
Third Party Dependencies
Dependency on global shipping lines for the ROW and AMET segments; disruptions can lead to high inventory carrying costs (65-75 days).
Technology Obsolescence Risk
Risk is mitigated by continuous focus on specialty chemicals and oleochemical surfactants, which are currently the preferred technology over petrochemicals.
Credit & Counterparty Risk
Receivables are 60-65 days; the company deals with established FMCG majors, which typically implies high credit quality of receivables.