FY23 Annual Result Announced for Galaxy Surfactants Ltd.
Specialty Chemicals company Galaxy Surfactants announced consolidated FY23 results: Total volumes stood at 2,30,785 MT for FY23, down 1.5% YoY basis Total Revenue (including other income) stood at Rs 4,455.1 crore, a YoY growth of 20.5% EBITDA stood at Rs 578.1 crore, a YoY growth of 39.9% PAT stood at Rs 381.0 crore, a YoY growth of 45.0% Commenting on the performance U. Shekhar, Managing Director, Galaxy Surfactants said, “This has been a good year for us. While the volume decline is a cause of concern, we do see the situation improving in FY24. The decline in Raw material prices, freight rates, and improved availability not only aided our performance in FY23 but shall also enable recovery in demand going ahead in FY24. The India story is here to stay, and we consciously believe this momentum shall continue for years to come. The geopolitical headwinds and strengthening Dollar did impact consumption in Europe and Africa Middle East Turkey; but with the situation slowly but steadily improving on the ground, we see growth in these markets in the coming 1-2 Quarters. In addition, the uptick in premium consumption seen in India was a major positive for our Specialty as well as Performance Surfactants. This further aided our performance this year. To conclude, while global headwinds did impact our volumes adversely this year, we strongly believe the structural story of Home and Personal Care consumption remains intact. FY 2023-24 will be all about sustainable volume-led growth; capitalising on emerging trends through our innovations, growing our existing businesses sustainably and ensuring sustainable volume-led growth for both segments.” Result PDF24-05-2023