Chemicals & Petrochemicals
Valuation | |
|---|---|
| Market Cap | 6.48 kCr |
| Price/Earnings (Trailing) | 22.64 |
| Price/Sales (Trailing) | 1.35 |
| EV/EBITDA | 12.94 |
| Price/Free Cashflow | 38.99 |
| MarketCap/EBT | 18.24 |
| Enterprise Value | 6.41 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 4.82 kCr |
| Rev. Growth (Yr) | 24.3% |
| Earnings (TTM) | 286.46 Cr |
| Earnings Growth (Yr) | -21.5% |
Profitability | |
|---|---|
| Operating Margin | 7% |
| EBT Margin | 7% |
| Return on Equity | 11.3% |
| Return on Assets | 7.58% |
| Free Cashflow Yield | 2.56% |
Growth & Returns | |
|---|---|
| Price Change 1W | -0.30% |
| Price Change 1M | -8.1% |
| Price Change 6M | -25% |
| Price Change 1Y | -25% |
| 3Y Cumulative Return | -7.9% |
| 5Y Cumulative Return | -3.5% |
| 7Y Cumulative Return | 8.2% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -294.59 Cr |
| Cash Flow from Operations (TTM) | 420.51 Cr |
| Cash Flow from Financing (TTM) | -157.31 Cr |
| Cash & Equivalents | 265.04 Cr |
| Free Cash Flow (TTM) | 201.85 Cr |
| Free Cash Flow/Share (TTM) | 56.93 |
Balance Sheet | |
|---|---|
| Total Assets | 3.78 kCr |
| Total Liabilities | 1.24 kCr |
| Shareholder Equity | 2.53 kCr |
| Current Assets | 2.38 kCr |
| Current Liabilities | 1.13 kCr |
| Net PPE | 1.02 kCr |
| Inventory | 822.59 Cr |
| Goodwill | 3.22 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.05 |
| Debt/Equity | 0.08 |
| Interest Coverage | 13.21 |
| Interest/Cashflow Ops | 20.27 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 22 |
| Dividend Yield | 1.2% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Technicals: Bullish SharesGuru indicator.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Past Returns: Underperforming stock! In past three years, the stock has provided -7.9% return compared to 12.8% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -8.1% in last 30 days.
Technicals: Bullish SharesGuru indicator.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Past Returns: Underperforming stock! In past three years, the stock has provided -7.9% return compared to 12.8% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -8.1% in last 30 days.
Investor Care | |
|---|---|
| Dividend Yield | 1.2% |
| Dividend/Share (TTM) | 22 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 80.79 |
Financial Health | |
|---|---|
| Current Ratio | 2.11 |
| Debt/Equity | 0.08 |
Technical Indicators | |
|---|---|
| RSI (14d) | 41.59 |
| RSI (5d) | 28.2 |
| RSI (21d) | 24.46 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Buy |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Buy |
| RSI21 Signal | Buy |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Galaxy Surfactants's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Galaxy Surfactants Ltd. provided a cautious outlook for the remainder of FY 2025-26 during its earnings call on November 13, 2025. Management noted that Q2 was characterized by navigating short-term challenges while maintaining a focus on long-term opportunities. Key issues impacting performance included the 50% tariffs imposed by the US, elevated fatty alcohol prices, and inventory adjustments following GST rate changes in India.
Management highlighted that during H1 FY'26, consolidated revenues grew 2% year-on-year, with EBITDA declining by 5% to INR 251 crores, resulting in an EBITDA per metric ton of INR 18,700. Performance Surfactants faced a high-single-digit decline, whereas Specialty Care products achieved double-digit growth in non-US regions.
For India, management acknowledged significant challenges, including softer demand due to GST adjustments, leading to flat volumes for the quarter. Despite temporary headwinds, management remains optimistic about gradual recovery from Q4 FY'26, driven by expected customer approvals for reformulated products and market share gains from non-Tier 1 accounts.
In the AMET region, despite high-single-digit volume declines in Egypt due to local competition, Türkiye showed strong double-digit growth. Globally, Latin America and Asia Pacific maintained robust growth trajectories, although North America faced challenges due to tariffs.
Notably, management indicated that the cumulative impact of US tariffs for FY 2025 is projected to be 3-5% of EBITDA, affecting project timelines. Encouragingly, management expressed confidence in navigating current turbulence, reinforcing operational agility, and sustaining relevance in the market, while anticipating improved performance in the medium term as market conditions stabilize.
Understand Galaxy Surfactants ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Unnathan Shekhar | 11.92% |
| Shashikant Rayappa Shanbhag | 11.56% |
| Ramakrishnan Gopalkrishnan | 6.66% |
| Yash Sudhir Patil | 5.79% |
| Siddharth Sudhir Patil | 5.79% |
| Galaxy Chemicals, Partner Gopalkrishnan Ramakrishnan | 5.47% |
| Galaxy Chemicals, Partner Late Sandhya Sudhir Patil |
Detailed comparison of Galaxy Surfactants against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| VINATIORGA | Vinati Organics | 15.87 kCr | 2.31 kCr | -5.20% | -13.60% | 35.83 | 6.87 | - | - |
| FINEORG | Fine Organic Industries | 13.74 kCr |
Comprehensive comparison against sector averages
GALAXYSURF metrics compared to Chemicals
| Category | GALAXYSURF | Chemicals |
|---|---|---|
| PE | 22.70 | 44.71 |
| PS | 1.35 | 4.17 |
| Growth | 22 % | 6.2 % |
Galaxy Surfactants Limited manufactures and markets surfactants and other specialty ingredients in India and internationally. It offers fatty alcohol sulfates and ether sulfates, fatty alcohol ethoxylates and labsa, foam and viscosity boosters, mild surfactants, pearlizers, surfactant blends, syndets and TBB, sunscreens, functional actives, and preservatives and blends for personal care and home care products, including skin care, oral care, hair care, cosmetics, toiletries, and detergent products, as well as baby care, sun care, surface care, dishwash, and hand wash products. Galaxy Surfactants Limited was founded in 1980 and is based in Navi Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
GALAXYSURF vs Chemicals (2021 - 2026)
1. Question: "On the reformulation side, can you help us understand what could be the potential impact that would have cost on our performance volume? Or what percentage of the customers' requirement of LA has moved to something else? Is it material?"
Answer: We don't view this as a structural change; rather, it's a temporary demand adjustment. Most reformulations started in August 2025. If reformulation hadn't occurred, we could have potentially achieved 3,000 to 4,000 tons higher volume in India this quarter. While some customers have shifted, it's manageable, and we anticipate a recovery as the situation stabilizes.
2. Question: "Do you think that the GST issue is largely behind? What should we look at for Q3 and Q4 in terms of India growth rate?"
Answer: Q3 may resemble Q2, largely due to ongoing adjustments. Our customers noted that the GST impact affected festive season demand, creating backlog. However, discussions indicate recovery signs in Q4. While Q3 may remain challenging, we expect gradual improvement starting Q4 as customers adapt.
3. Question: "In the AMET region, we are already 30% lower in terms of our annual volumes from the peak...what is really happening in Egypt there?"
Answer: In AMET, market performance depends heavily on feedstock prices and inflation-driven reformulations. Prices for fatty alcohols remain high, prompting clients to reconsider formulations. Although sales are down, we anticipate stabilization as demand eventually improves, but the situation requires careful navigation.
4. Question: "Would you like to update your guidance on both EBITDA per kg and volume growth?"
Answer: We prefer not to issue specific guidance currently. However, I aim to see Q3 performance stabilizing at Q2 levels. For the full year, I'd prefer to wait until Q4 due to market volatility. If conditions improve, particularly around tariffs, we can reassess more positively then.
5. Question: "Do you see the risk of us permanently losing some business in the US due to prolonged tariffs?"
Answer: Our customers are eager for our return; the 50% tariff restricts them too. The customers are diversifying vendors, and we're discussing strategic adjustments. If tariffs reverse, we expect many to return to us, as they value our longstanding relationships.
6. Question: "What is the outlook for the recovery of reformulation effects?"
Answer: Historically, reversals from reformulation take about 12 to 15 months, typically following a reduction in oleochemical prices. We're monitoring prices closely for indications of a downward trend; positive moves could facilitate resumed demand sooner than expected.
7. Question: "What is your strategy in Egypt and the AMET region for volume growth?"
Answer: We see potential in our Egypt facility but must address inflation and competition strategically. We're focusing on expanding in LATAM and Asia-Pac to diversify risk while maintaining efficiency in Egypt. We expect demand to stabilize as local conditions improve.
8. Question: "Will we recognize any fees during FY '25 for the EPC contract?"
Answer: Currently, we cannot provide specific revenue recognition figures as it's contingent upon project milestones. As we progress, recognition will align with completion percentages, which is generally expected to be over a year.
9. Question: "Can you clarify the implications of the tariffs you mentioned on your overall operations?"
Answer: Tariffs impact not only us but also our competitors in the US market. Though they create significant barriers, customers are keen to diversify their supplier base. We're actively identifying ways to maintain engagement and business continuity despite these challenges.
10. Question: "Any updates on our new capacity plans in TRI-K considering the tariff situation?"
Answer: We're reviewing capacity plans cautiously regarding tariffs and market demand. While we're prepared for investments, we need clarity on sustainability before advancing. Our strategy involves being reactive and adaptable, ready to deploy when conditions align.
| 5.47% |
| Galaxy Chemicals, Partner Shashikant Rayappa Shanbhag | 5.47% |
| Galaxy Chemicals, Partner Shekhar Unnathan | 5.47% |
| Jayashree Ramakrishnan | 5.2% |
| Axis Mutual Fund | 4.38% |
| Nippon Life India | 3.83% |
| ICIC Prudential | 3.16% |
| Galaxy Emulsifiers Pvt Ltd | 1.53% |
| Jayshree Ramesh | 1.5% |
| Abu Dhabi Investment Authority - Monsoon | 1.44% |
| Icici Lombard General Insurance Company Ltd | 1.01% |
| Lakshmy Shekhar | 0.36% |
| Sridhar Unnathan | 0.1% |
| Vandana Shashikant Shanbhag | 0.03% |
Distribution across major stakeholders
Distribution across major institutional holders
| 2.42 kCr |
| +4.90% |
| +3.00% |
| 33.89 |
| 5.68 |
| - |
| - |
| BALAMINES | Balaji Amines | 3.58 kCr | 1.41 kCr | +3.10% | -36.40% | 24.98 | 2.54 | - | - |
| 5.3% |
| 1,253 |
| 1,190 |
| 1,053 |
| 969 |
| 967 |
| 881 |
| Profit Before exceptional items and Tax | -20.4% | 79 | 99 | 100 | 77 | 104 | 99 |
| Total profit before tax | -20.4% | 79 | 99 | 100 | 77 | 104 | 99 |
| Current tax | -57.1% | 10 | 22 | 22 | 14 | 20 | 21 |
| Deferred tax | 152.6% | 2.5 | -1.85 | 2.51 | -1.22 | 0.05 | -1.37 |
| Total tax | -36.8% | 13 | 20 | 24 | 12 | 20 | 19 |
| Total profit (loss) for period | -16.7% | 66 | 79 | 76 | 65 | 85 | 80 |
| Other comp. income net of taxes | 4267.8% | 39 | 1.87 | -7.11 | 23 | 3.94 | 0.17 |
| Total Comprehensive Income | 30% | 105 | 81 | 69 | 88 | 89 | 80 |
| Earnings Per Share, Basic | -17.1% | 18.75 | 22.42 | 21.4 | 18.22 | 23.9 | 22.48 |
| Earnings Per Share, Diluted | -17.1% | 18.75 | 22.42 | 21.4 | 18.22 | 23.9 | 22.48 |
| 10.4% |
| 171 |
| 155 |
| 141 |
| 114 |
| 106 |
| 94 |
| Finance costs | 45.5% | 17 | 12 | 12 | 7.75 | 8.37 | 17 |
| Depreciation and Amortization | 6.5% | 67 | 63 | 53 | 44 | 50 | 40 |
| Other expenses | 23.6% | 378 | 306 | 342 | 332 | 224 | 219 |
| Total Expenses | 12% | 2,803 | 2,502 | 2,866 | 2,446 | 1,596 | 1,569 |
| Profit Before exceptional items and Tax | -15.8% | 225 | 267 | 288 | 181 | 239 | 230 |
| Total profit before tax | -15.8% | 225 | 267 | 288 | 181 | 239 | 230 |
| Current tax | -15.3% | 51 | 60 | 72 | 48 | 62 | 58 |
| Deferred tax | -122.9% | -0.21 | 6.28 | 1.59 | -0.66 | -0.77 | -10.6 |
| Total tax | -24.2% | 51 | 67 | 74 | 47 | 61 | 48 |
| Total profit (loss) for period | -13.1% | 174 | 200 | 214 | 134 | 178 | 182 |
| Other comp. income net of taxes | 32.2% | -2.79 | -4.59 | -0.11 | 1.18 | -1.24 | -2.18 |
| Total Comprehensive Income | -12.8% | 171 | 196 | 214 | 135 | 177 | 180 |
| Earnings Per Share, Basic | -13.5% | 49.03 | 56.51 | 60.36 | 37.76 | 50.17 | 51.38 |
| Earnings Per Share, Diluted | -13.5% | 49.03 | 56.51 | 60.36 | 37.76 | 50.17 | 51.38 |
| -0.6% |
| 695 |
| 699 |
| 657 |
| 628 |
| 617 |
| 625 |
| Capital work-in-progress | 13% | 287 | 254 | 212 | 155 | 104 | 84 |
| Non-current investments | -1.7% | 116 | 118 | 99 | 196 | 185 | 200 |
| Loans, non-current | 16.7% | 1.91 | 1.78 | 1.82 | 1.37 | 1.03 | 0.8 |
| Total non-current financial assets | -0.7% | 137 | 138 | 112 | 208 | 195 | 209 |
| Total non-current assets | 3% | 1,157 | 1,123 | 1,025 | 1,040 | 959 | 949 |
| Total assets | 8.4% | 2,521 | 2,325 | 2,087 | 1,990 | 1,853 | 1,863 |
| Borrowings, non-current | -37.5% | 11 | 17 | 23 | 46 | 63 | 80 |
| Total non-current financial liabilities | -5.7% | 34 | 36 | 30 | 54 | 66 | 84 |
| Provisions, non-current | -20.2% | 8.18 | 10 | 7.47 | 7.73 | 6.68 | 6.07 |
| Total non-current liabilities | -3.6% | 81 | 84 | 72 | 99 | 108 | 122 |
| Borrowings, current | 38.7% | 166 | 120 | 62 | 75 | 80 | 103 |
| Total current financial liabilities | 19.8% | 789 | 659 | 477 | 456 | 401 | 487 |
| Provisions, current | 0% | 6.48 | 6.48 | 3.77 | 4.91 | 5.59 | 5.59 |
| Current tax liabilities | 0% | 3.53 | 3.53 | 0 | 0 | 7.48 | 5.52 |
| Total current liabilities | 15.5% | 931 | 806 | 586 | 486 | 431 | 517 |
| Total liabilities | 13.8% | 1,013 | 890 | 658 | 585 | 538 | 639 |
| Equity share capital | 0% | 35 | 35 | 35 | 35 | 35 | 35 |
| Total equity | 5.2% | 1,509 | 1,435 | 1,428 | 1,406 | 1,315 | 1,224 |
| Total equity and liabilities | 8.4% | 2,521 | 2,325 | 2,087 | 1,990 | 1,853 | 1,863 |
| -30.3% |
| 47 |
| 67 |
| 68 |
| 47 |
| - |
| - |
| Net Cashflows From Operating Activities | 24.1% | 295 | 238 | 331 | 46 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 14 | 0 | 0 | 0 | - | - |
| Proceeds from sales of PPE | 76.7% | 2.29 | 1.73 | 1.26 | 0.43 | - | - |
| Purchase of property, plant and equipment | 42.1% | 200 | 141 | 97 | 117 | - | - |
| Interest received | 26.7% | 3.28 | 2.8 | 2.33 | 0.9 | - | - |
| Other inflows (outflows) of cash | 529.4% | 108 | 18 | -9.89 | 7.1 | - | - |
| Net Cashflows From Investing Activities | -15.6% | -164.81 | -142.4 | -103.54 | -108.71 | - | - |
| Proceeds from borrowings | - | 0 | 0 | 40 | 117 | - | - |
| Repayments of borrowings | -127.6% | -15.81 | 62 | 107 | 31 | - | - |
| Payments of lease liabilities | 17.5% | 6.16 | 5.39 | 3.98 | 3.36 | - | - |
| Dividends paid | 930.8% | 135 | 14 | 128 | 14 | - | - |
| Interest paid | 30.8% | 18 | 14 | 15 | 9.46 | - | - |
| Net Cashflows from Financing Activities | -49.5% | -143.64 | -95.77 | -213.57 | 59 | - | - |
| Effect of exchange rate on cash eq. | 6.8% | 0.04 | -0.03 | 0.02 | 0.03 | - | - |
| Net change in cash and cash eq. | -1665.8% | -12.95 | 0.21 | 14 | -3.78 | - | - |