Galaxy Surfactants Reports 36% Rise in YoY Q1FY21 Net Profit

Galaxy Surfactants Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021.

Q1 Results- QoQ

The company’s net profit dropped 2.4% to Rs 76.82 crores ($10.3 million) for the period ended June 30, 2021 as against net profit of Rs 78.68 crores ($10.6 million) for the previous quarter.

Net sales increased 6% to Rs 830.9 crores ($111.9 million) during the period ended June 30, 2021 as compared to Rs 786.1 crores ($105.9 million) during the previous quarter.

Q1 Results- YoY

The company’s net profit grew 36% to Rs 76.82 crores ($10.3 million) for the period ended June 30, 2021 as against net profit of Rs 56.49 crores ($7.6 million) for the prior-year quarter.

Net sales increased 37% to Rs 830.9 crores ($111.9 million) during the period ended June 30, 2021 as compared to Rs 607.83 crores ($81.9 million) during the prior-year quarter.

“The financial year 2021-22 has begun on a strong note, sustaining the momentum seen in FY21. While the demand outlook continues to remain robust, as seen by the volume growth registered in this quarter of 15.4%, worsening international logistics scenario continues to adversely impact the business.

“Unavailability of critical raw materials in the first quarter further compounded the situation, restricting growth,” Galaxy Surfactants Managing Director U Shekhar said.

He said that segment wise, specialty products made a strong comeback in this quarter registering a 36.1% volumes growth.

While this may be on a favourable base, the momentum has sequentially sustained, despite the worsening logistics scenario and the second wave of the pandemic, he noted.

“The momentum in performance surfactants remains robust. While India and the rest of the world markets saw volume growth of more than 25%, Africa, Middle East, Turkey (AMET) volumes got adversely impacted due to supply side constraints,” he added.

Galaxy Surfactants Ltd is engaged in the business of manufacture and selling of surfactants, preservatives and other related specialty products.