Galaxy Surfactants Q2 PAT up 22%
Shares of Galaxy Surfactants jumped more than 9% to Rs 1,854.85 apiece on NSE, after reporting strong earning performance for the fiscal second quarter to September 30.
The company posted a 21.9% rise in consolidated net profit to Rs 81.74 crore on a 10.8% rise in net sales to Rs 718.68 crore in Q2 September 2020 over Q2 September 2019.
Galaxy Surfactants has registered its highest quarterly Volumes EBITDA and PBT in this quarter.
The increase in revenue was on account of better sales volumes in both performance surfactants and specialty care business and better sales mix.
The company’s total volume increased by 10.4% year on year to 63,026 MT in Q2 September 2020. Growth has been driven by both the segments across geographies.
Profit before tax increased by 57.2% year on year to Rs 106.19 crore in Q2 September 2020 over Q2 September 2019. EBITDA jumped 41.2% year on year to Rs 126.1 crore in Q2 September 2020, driven by increasing share of specialty, better product mix due to new products and higher capacity utilization. EBITDA margin improved to 17.4% in Q2 September 2020 from 13.7% in Q2 September 2019.
India has made a strong comeback, while the momentum remains intact as far as the Africa, Middle East and Turkey is concerned, which continues to grow ahead of the market. Rest of the World markets too have registered strong growth sequentially. Improving share of specialties, new products mix and higher capacity utilisations aided margins.
Galaxy Surfactants is a leading manufacturer of performance surfactants and specialty care products with over 205 product grades used in home and personal care industry.
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