Galaxy Surfactants Ltd

Financial Performance

• Q1 FY27 EBITDA: INR 252.5 crores vs INR 135.1 crores in Q1 FY26.
• EBITDA per MT: INR 35,458 vs INR 20,009 YoY.
• Consolidated volumes up 5% YoY; India +11%; AMET down 4% YoY, +19% sequential.
• Rest of World volumes up 6% YoY; APAC double-digit growth.
• Mexico EPC project on track; commercialization in 12 months.
• SimpliX launched; Galaxy Hearth Biosurf wins Innovation Zone Award 2026.

Regional Trends

• India grew 11% led by performance segment; Tier 1 demand recovering.
• Oleochemical feedstock advantage; reformulation favorable; premiumization gains.
• AMET volumes down 4% YoY but +19% sequential; Egypt recovery steady.
• APAC and Americas driving growth; TRI-K strength supporting mix.
• West Asia volatility ongoing; supply continuity remains priority.

Guidance and Outlook

• Volume guidance retained at 6%–8% for FY26-27.
• EBITDA per MT guidance raised to INR 24,000–25,000.
• EPC income recognition this quarter; complete by year-end; impact not material.
• Capex guidance about INR 150–200 crores for the year; front-loaded.
• Demand indicators remain encouraging; festive season momentum; West Asia developments watched.

Q&A Highlights

• Q1: 35k EBITDA/MT driven by reformulation and mix; sustainable range ~21–22k; long-term 24–25k.
• Q2: US demand momentum; Everbond launch; guidance intact.
• Q3: BASF Dahej closure could lift demand; not quantified yet.
• Q4: EPC income timing; to be fully recognized by year-end; in a separate segment.
• Q5: Capex around INR 150 crores; no AMET acquisitions; debottlenecking planned.

Partnership with Unilever

• Galaxy Surfactants signed a Partnership Growth Charter with Unilever to accelerate new chemistries and next-generation surfactants.
• Aims include supply resilience, bio-based and lower-carbon technologies, and value-chain collaboration.
• Builds on Galaxy-Unilever 45-year relationship to expand collaboration.

Filing Status

• No substantive transcript body present; wrapper-only filing with audio recording.

Financial performance

• Total revenue for Q1FY27 was ₹1,785.2 crore, up 38.5% YoY and 35.8% QoQ.
• Highest-ever quarterly EBITDA recorded at ₹252.5 crore; EBITDA margin 14.1%.
• PAT stood at ₹165.9 crore; PAT margin 9.3%.
• EBITDA per MT ₹35,458, up from ₹20,009 YoY.
• Consolidated revenue mix: Performance Surfactant ₹1,178.7 crore; Specialty Care ₹603.2 crore.
• India region delivered double-digit volume growth; AMET shows sequential improvement.

Business overview

• Core business: surfactants; two segments: Performance Surfactants and Specialty Care.
• Global presence: 95+ countries; 2,000+ employees; 7 facilities (5 in India, 1 Egypt, 1 US).
• 215+ product grades across segments.

Operational highlights

• Consolidated volume growth in mid-single digits; EBITDA up 87% YoY.
• India back to double-digit volume growth; AMET region improved demand.
• ROW growth mid-single-digit; raw material volatility persists.

Financial performance

• Net revenue ₹1,781.9 Cr; total revenue ₹1,785.2 Cr; YoY growth 39.4%.
• EBITDA ₹252.5 Cr; EBITDA margin 14.1%.
• PAT ₹165.9 Cr; PAT margin 9.3%; EPS ₹46.80.

Market dynamics

• Fatty alcohol prices averaged USD 2,806/MT in Q1FY27, higher than Q4.

Strategic outlook

• Management emphasizes disciplined execution, portfolio diversification, and risk management.
• Recovery in customer demand; continued strength in India business.

Consolidated results

• Consolidated revenue from operations: 1,781.90 crores for quarter ended 30 June 2026.
• Consolidated total income: 1,785.18 crores for quarter ended 30 June 2026.
• Consolidated profit after tax: 165.92 crores for quarter ended 30 June 2026.
• Consolidated basic EPS: 46.80; diluted EPS: 46.66.
• Board approved unaudited consolidated results for quarter ended 30 June 2026.
• GIDC land eviction carrying value Rs 72.67 crore; no provision till date.

Standalone results

• Standalone revenue from operations: 1,265.53 crores for quarter ended 30 June 2026.
• Standalone total income: 1,272.29 crores for quarter ended 30 June 2026.
• Standalone profit after tax: 105.94 crores for quarter ended 30 June 2026.
• Standalone basic EPS: 29.88; diluted EPS: 29.79.
• No separate reportable segments under IND AS 108.
• Net gain on financial assets (preference shares): 6.29 crores.

AGM Details

• Date/time: August 12, 2026, 2:30 PM–3:30 PM.
• Mode: VC/OAVM; record date: 05-08-2026.

Resolutions & Outcomes

• Resolution 1 (Ord): Receive, consider and adopt Standalone Financial Statements; passed.
• Resolution 2 (Ord): Adopt Consolidated Financial Statements; passed.
• Resolution 3 (Ord): Final dividend; approved.
• Resolution 4 (Ord): Re-appointment of Director K. Natarajan on rotation.
• Resolution 5 (Ord): Ratification of remuneration payable to Cost Auditors; approved.

Dividend

• Final dividend of ₹22 per equity share approved.

Director Changes

• Re-appointment of K. Natarajan on rotation.

Auditor Remuneration

• Remuneration payable to Nawal Barde Devdhe & Associates Cost Auditors ratified.

AGM Details

• AGM held on Aug 12, 2026 at 2:30 pm IST via VC/OAVM.
• Quorum present via VC/OAVM; meeting held with remote e-voting and poll.
• Voting window Aug 9-11, 2026; results to be disclosed within two working days.
• Meeting concluded at 3:30 pm after 15 minutes for voting.
• Scrutinizer appointed for remote e-voting.

Resolutions Put to Vote

• Ordinary: Adopt standalone financial statements for year ended Mar 31, 2026.
• Ordinary: Adopt consolidated financial statements for year ended Mar 31, 2026.
• Ordinary: Approve final dividend of ₹22 per equity share for 2025-26.
• Ordinary: Re-appoint K. Natarajan who retires by rotation.
• Ordinary: Ratify remuneration payable to Cost Auditors, M/s Nawal Barde Devdhe & Associates.

Dividend

• Final dividend of ₹22 per equity share approved.

Director Changes

• K. Natarajan to be re-appointed on rotation (eligible).

Auditors / Remuneration

• Remuneration payable to Cost Auditors ratified.

Voting Outcomes

• Results of remote e-voting and poll to be disclosed within two working days; specific outcomes not provided.

Meeting Details

• Date and time: Friday, August 14, 2026 at 12:00 Noon IST
• Type/Mode: analyst/investor conference call; virtual group earnings call
• Organizer: Galaxy Surfactants Limited
• Purpose: discuss Q1FY27 operational and financial performance
• Key participants: MD, Executive Director & COO, CFO
• Registration: pre-register requested; dial-in details provided

Meeting Details

• Board meeting on August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited consolidated and standalone financial results for Q1 FY2026.

Other Notes

• Trading window remains closed for designated persons and immediate relatives until August 15, 2026.