Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 210+ product grades used in the Home and Personal Care industry, has announced its unaudited financial results for the quarter and nine months ended 31st December 2023.

For the 9 months period ended December 31, 2023, Galaxy Surfactants has registered a total revenue of Rs. 2,876.9 crore compared to Rs. 3,487.3 crore during the corresponding period ended December 31, 2022. The company has posted PAT of Rs. 224 crore for the 9 months period ended December 31, 2023 compared to Rs 290.5 crore during the corresponding period ended December 31, 2022.

Commenting on the performance, U. Shekhar, Managing Director, Galaxy Surfactants Limited, said, "This has been a relatively stable quarter for us. While the underlying volume growth stood at 8.4%, well above the guided range of 6-8%, EBITDA/MT stood at Rs 18,781/MT, below the guided band of Rs 19,500 - Rs 20,500/MT impacted by certain one-offs.

Volume momentum remained strong across markets, barring North America. This is particularly positive as the consistent volume uptick across markets implies a receding effect of Inflation and demand revival. While the quarter began on a strong note, the RED Sea escalation did dampen sentiments in the second half of December, thus adversely impacting volumes for this quarter. This remains the biggest risk going ahead. 

To conclude, while certain macro risks persist, we strongly believe the underlying demand improvement should be sustained in FY25. Combined with the recovery of our premium specialty portfolio; we expect EBITDA/MT to exceed the guided band in FY25, thus implying an improved performance going ahead."