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13 Nov 2025
Galaxy Surfactants Limited - Specialty Chemicals and Surfactant Manufacturing Facility
📊 Stock Analysis
Complete financial analysis with key metrics and investment outlook
Galaxy Surfactants Q2 FY2026 Financial Performance
Galaxy Surfactants Limited (NSE: GALAXYSURF), a leading manufacturer of performance surfactants and specialty care ingredients for the home and personal care industry, reported its Q2 FY26 (July–September 2025) results, showing 25% YoY growth in revenue but a 22% decline in net profit due to margin pressures and higher input costs.
Stock Performance & Key Metrics
As of November 13, 2025:
- Current Price: ₹2,222
- Market Cap: ₹7,886 Crores
- Stock P/E: 27.5
- Industry P/E: 30.5
- Book Value: ₹715 per share
- Dividend Yield: 0.99%
- ROCE: 16.2%
- ROE: 13.5%
- Debt to Equity: 0.11
- Debt: ₹268 Crores
- Face Value: ₹10
- EPS: ₹80.8
Q2 FY2026 Financial Highlights
| Particulars | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Revenue / Total Income | ₹1,326 Cr | ₹1,063 Cr | ↑ 25% |
| EBITDA | ₹110 Cr | ₹128 Cr | ↓ 13% |
| Net Profit (PAT) | ₹66.5 Cr | ₹84.7 Cr | ↓ 22% |
| EPS (₹) | 18.75 | 23.89 | ↓ 22% |
The company’s specialty segment delivered strong double-digit growth, offsetting weakness in the performance surfactants division, which was impacted by softer demand and raw material inflation.
Business Segment Overview
- Performance Surfactants Revenue: ₹1,681.4 Cr (YoY growth muted)
- Specialty Care Revenue: ₹939.7 Cr (Double-digit YoY growth)
- Overall Volume Growth: Low single-digit YoY increase
Management Commentary
According to Managing Director K. Natarajan, > “Q2FY26 volumes remained broadly flat both YoY and QoQ, reflecting short-term turbulence across markets. Specialty segment delivered strong double-digit growth, offsetting a higher single-digit decline in the Performance segment. > We are confident that GST reforms will unlock medium-term consumption upside as domestic demand recovers.”
He added that while India’s domestic performance faced temporary headwinds, the Rest-of-World segment sustained strong growth in LATAM and APAC. However, North America margins were impacted by reciprocal tariffs and elevated raw material prices.
Strategic & Market Highlights
- Volume growth stable despite global cost pressures.
- Specialty segment outperformed, aided by premium product mix.
- Freight and raw material challenges continued to impact margins.
- Expansion in AMET and APAC markets underway.
- Operational efficiency and cost discipline remain key priorities.
H1 FY2026 Summary
| Particulars | H1 FY26 | H1 FY25 | YoY Change |
|---|---|---|---|
| Total Revenue | ₹2,621 Cr | ₹2,051 Cr | ↑ 28% |
| EBITDA | ₹251 Cr | ₹266 Cr | ↓ 5% |
| PAT | ₹146 Cr | ₹164 Cr | ↓ 11% |
| EPS (₹) | 41.17 | 46.38 | ↓ 11% |
About the Company
Galaxy Surfactants Ltd, incorporated in 1986, is a global leader in the production of performance surfactants and specialty care ingredients. Its over 215 product grades are used across personal and home care applications including shampoos, soaps, skincare, oral care, detergents, and cosmetics. The company supplies to top global FMCG brands including Unilever, P&G, Colgate, L’Oréal, Reckitt, and Himalaya.
It operates seven manufacturing facilities — five in India, one in Egypt, and one in the USA — ensuring global reach with localized customer support.
Outlook
Galaxy Surfactants expects gradual margin normalization in upcoming quarters as raw material prices stabilize and domestic consumption recovers. The company remains focused on:
- Expanding specialty care portfolio
- Enhancing export markets (LATAM, APAC, Africa)
- Improving operational efficiency and sustainability
Galaxy continues to be a key beneficiary of rising FMCG and personal care demand, positioning it as a long-term compounder in India’s specialty chemical sector.
*For full results, refer to the official filing on BSE*
*Data as of November 13, 2025 | Results approved by Board of Directors on November 12, 2025*
