Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 220+ product grades used in the home and personal care industry, has announced Q2 FY23 revenue of Rs. 1,232.7 crore, an increase of 39.7% over Q2 FY 22 whereas profit reached Rs. 83.9 crore, an increase of 100% over Q2 FY22.  

Commenting on the performance, U. Shekhar, Managing Director, Galaxy Surfactants Limited said, “As it is said 'Offence wins Games but Defence wins Championships,' and the first half this year has truly tested our defence. In a half that has seen Fatty Alcohol prices correct by more than 50%, freight rates correct upwards of 50%, and demand contract globally, a good defense i.e., risk management combined with a robust product portfolio, judicious price calls along with experience in handling such volatility enabled us to deliver a 100% growth in Profits for Q2 FY23 and 55% for the first half vis-a-vis H1 FY22. Thus, enabling the momentum garnered in Q4 FY22 to continue into the H1 FY23."

"While the underlying pressure on volumes continues, demand continues to remain resilient in India. The continued slowdown in Europe and a hyper inflationary scenario which adversely impacts the mass and masstige segments remain the key risks going ahead. Though supply led volatility has reduced in the first half, it yet remains at elevated levels. To conclude, while the first half has been good for us, pickup in volumes remains the key going ahead,” added Shekhar.

Total volumes stood at 59,283 MT for Q2 FY23 as against 58,814 MT in Q2 FY22, up by 0.8% YoY. Performance Surfactants volume stood at 38,902 MT for Q2 FY23, up by 2.3% on a YoY basis whereas Specialty Care Products volume stood at 20,381 MT for Q2 FY23, down by 2% on a YoY basis.

Total volumes stood at 1,14,555 MT for H1 FY23 as against 1,18,679 MT in H1 FY22, down by 3.5% YoY. Performance Surfactants volume stood at 74,345 MT for H1 FY23, down by 3.2% on a YoY basis whereas Specialty Care Products volume stood at 40,210 MT for H1 FY23, down by4% on a YoY basis.