Mumbai, 13th February 2022:
Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 210 product grades used in the Home and Personal Care industry, has announced its unaudited financial results for the quarter and nine months ended 31st December 2021.
Commenting on the performance Mr. U. Shekhar, Managing Director, Galaxy Surfactants Limited said,
“The supply-driven volatility that impacted our Q-2 performance continued in Q-3. Rising input costs along with supply chain constraints, be it in terms of on-time container availability or port congestions severely impinged our ability to service our customers. While Volumes have remained flat Y-O-Y, the decline in EBITDA/MT impacted our overall performance significantly. Both these factors need to be understood in the Global Context.
Rising feedstock prices combined with availability issues and higher lead times impacted our operations. This when combined with the volatility we have been experiencing in the export markets on account of on-time availability of containers and rising freight costs have proved to be the worst possible mix. This has not only impacted our ability to service the underlying demand but also led to significantly higher cost of operations. This, we believe, will continue till H-1 FY 22-23.
Amidst the gloom, India has been the bright spot for us. Structural uptick in volumes is clearly visible with the current volumes being nearly 10% higher than the pre-COVID average. We have begun operationalizing our new specialty CAPEXs. These should become fully operational by April 1st, 2022.
While the external scenario remains extremely uncertain, internally we are taking the necessary steps to enhance our performance, stability, and delivery. To conclude, we at Galaxy strongly believe the executional challenges we are facing today are in reality laying the foundations for our next decade of growth. While the last two quarters have been challenging, we believe the worst is behind us and we should see better quarters going ahead.”
|Galaxy Surfactants Limited (Consolidated Results)
|Particulars (Rs. Cr)
*Includes other income
|Galaxy Surfactants Limited (Volume Break up)
||YoY Growth % (Q3FY22 vs Q3FY21)
||YoY Growth % (9MFY22 vs 9MFY21)