By: ICN Bureau
Last updated : February 13, 2023 10:35 am
Performance surfactants volume stood at 39,156 MT for Q3 FY23, up by 5.9% on a YoY basis and specialty care products volume stood at 19,208MT for Q3 FY23, down by 8.7% on a YoY basis
Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 205+ product grades used in the Home and Personal Care industry, Q3 FY23 revenue reached Rs. 1,084 crore, up 16.5% YoY and profit reached Rs. 106.2 crore, up 132.8% YoY.
Commenting on the performance, U. Shekhar, Managing Director, Galaxy Surfactants Limited said, “This has been a good quarter for us. 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, Q-O-Q improvement in AMET Volumes is a positive sign. As it is said 'Offense wins Games but Defence wins Championships'; this year continues to test our defence. Despite the multifold challenges, your company has delivered its highest EBITDA and Net Profit in this Quarter.
"A robust business model, strong risk management practices, judicious price calls along with experience in handling such volatility has enabled us to deliver this. To summarize, while subsiding inflation along with improving supply side factors offer a ray of hope, global pickup in consumption holds the key now,” added Shekhar.
Total volumes stood at 58,364 MT for Q3 FY23 as against 58,027 MT in Q3 FY22, up by 0.6% YoY. ROW markets de-grew by 8.9% YoY. The Indian market grew by 12.2% YoY whereas the AMET market de-grew by 6.4% YoY.
Performance Surfactants volume stood at 39,156 MT for Q3 FY23, up by 5.9% on a YoY basis and Specialty Care Products volume stood at 19,208MT for Q3 FY23, down by 8.7% on a YoY basis.