GALAXYSURF

Galaxy Surfactants share price & financials

Price
₹1,926.2
Market cap
₹8.2k Cr
Sector
Chemicals
Calls analysed
7
Latest concall · Q1 FY27 · call held 14 Aug 2026

Galaxy Surfactants Limited Q1 FY27

EBITDA ₹252.5 cr +87%

What went well

  • Highest ever quarterly EBITDA of INR 252.5 crores reported in Q1 FY27.
  • EBITDA per metric ton significantly improved to INR 35,458 from INR 20,009 in Q1 FY26.
  • Consolidated volumes grew by 5% year-on-year.

What to watch

  • AMET volumes declined 4% year-on-year due to significant disruptions in West Asia during April and early May.
  • Significant volatility in feedstocks (petrochemical and oleochemical) characterized Q1 FY27.
Read the full call →

What Galaxy Surfactants Limited does

Galaxy Surfactants Limited manufactures performance surfactants and specialty care ingredients (surfactants, emollients, conditioning agents and specialty blends) that are used as raw-material inputs by Home & Personal Care and Beauty & Wellness product makers, including shampoos, soaps, detergents, skin and hair care products and cosmetics. It runs manufacturing plants in India (Taloja, Jhagadia and Tarapur), Egypt and the USA, backed by an in-house R&D centre, pilot plant and product application centre used to co-develop formulations with customers. It sells to MNC customers, regional players and local/niche manufacturers across India, the AMET region (Africa, Middle East, Turkey) and the Rest of the World, and has recently added subsidiaries in Mexico and Europe (Galaxy Specialties Europe B.V., Amsterdam) plus a revived US sales entity (Galaxy Surfactants Americas Inc.) to deepen its international footprint.

Segments

  • Performance Surfactants
  • Specialty Care Products
Product grades offered
215+ (47+ Performance Surfactants, 168+ Specialty Care Products)
Manufacturing facilities
7 strategically located facilities with in-house project execution capability — 5 in India, 1 in Egypt, 1 in the US
India plant locations
Taloja, Jhagadia (Gujarat) and Tarapur (Maharashtra)
Employees
2,000+ across all facilities
Clients served
1,500+
Country presence
95+ countries
Founded 1986Headquarters Navi Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 4 delivered 1 missed 9 open
  • FY26 EBITDA per metric ton delivered said Q3 FY25 Promised: close to around INR 19,000 tons of EBITDA per metric ton Q1 FY27: Target period (FY26) has ended. Final status is achieved.
  • Q1 FY27 Volume Growth missed said Q4 FY26 Promised: close to the higher end of the volume guidance range of 6% to 8% Q1 FY27: Reported 5% consolidated volume growth, missing the guided 'higher end of 6-8%'.
  • Volume Growth at risk said Q3 FY25 Promised: volume guidance of 6% to 8% for the next 2 years Q1 FY27: Reported 5% YoY consolidated volume growth, which is still below the 6-8% target range.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 39.4%, net profit up 110.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,063 1,042 1,145 1,278 1,326 +25%1,329 +28%1,315 +15%1,782 +39%
EBITDA128 106 127 124 110 −14%119 +12%122 −4%249 +101%
Net profit85 65 76 79 66 −22%59 −9%62 −18%166 +110%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −9.2% 1Y

₹1.6k₹1.8k₹2.0k₹2.2k₹2.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 14 Aug 2026

1Y: ₹2,408.2 on 10 Sept 2025 → ₹2,187.3. High ₹2,508.4 (14 Aug 2026), low ₹1,514.6 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+20.0%
14 Aug
Q4 FY26
−1.3%
15 May
Q3 FY26
+2.7%
16 Feb
Q2 FY26
−1.5%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.1%.

Year endingFY23FY24FY25FY26
Revenue₹4.5k Cr₹3.8k Cr₹4.2k Cr₹5.2k Cr
Operating profit₹569 Cr₹462 Cr₹485 Cr₹475 Cr
Operating margin12.8%12.2%11.5%9.1%
Interest₹22 Cr₹22 Cr₹19 Cr₹31 Cr
Depreciation₹84 Cr₹100 Cr₹111 Cr₹123 Cr
Net profit₹381 Cr₹301 Cr₹306 Cr₹266 Cr
Net margin8.6%7.9%7.2%5.1%
Cash from operations₹573 Cr₹518 Cr₹421 Cr₹333 Cr
Free cash flow₹429 Cr₹362 Cr₹205 Cr₹198 Cr
ROCE24.0%17.0%16.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹35 Cr₹35 Cr₹35 Cr₹35 Cr₹35 Cr₹35 Cr
Reserves₹1.3k Cr₹1.5k Cr₹1.8k Cr₹2.1k Cr₹2.5k Cr₹2.7k Cr
Borrowings₹289 Cr₹421 Cr₹327 Cr₹187 Cr₹268 Cr₹235 Cr
Other liabilities₹458 Cr₹602 Cr₹518 Cr₹539 Cr₹975 Cr₹885 Cr
Total liabilities₹2.0k Cr₹2.6k Cr₹2.7k Cr₹2.9k Cr₹3.8k Cr₹3.9k Cr
Fixed assets₹712 Cr₹760 Cr₹923 Cr₹973 Cr₹1.0k Cr₹1.2k Cr
Capital work in progress₹124 Cr₹205 Cr₹139 Cr₹158 Cr₹290 Cr₹181 Cr
Investments₹43 Cr₹0 Cr₹0 Cr₹198 Cr₹385 Cr₹474 Cr
Other assets₹1.2k Cr₹1.6k Cr₹1.7k Cr₹1.6k Cr₹2.1k Cr₹2.0k Cr
Total assets₹2.0k Cr₹2.6k Cr₹2.7k Cr₹2.9k Cr₹3.8k Cr₹3.9k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +0.82 pp while FIIs trimmed −0.49 pp. The shareholder count shrank 9% to 46,661.

Promoters
70.9%
FIIs
3.8%
DIIs
13.5%
Public
11.8%

Since Jun 2025

  • DIIs +0.82 pp
  • FIIs −0.49 pp
  • Public −0.34 pp

How it drifted, 12 quarters

Over this window the public fell from 13.4% to 11.8% — −1.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 70.9%, FIIs 3.1%, DIIs 12.6%, Public 13.4%.Dec '23: Promoters 70.9%, FIIs 3.6%, DIIs 12.4%, Public 13.0%.Mar '24: Promoters 70.9%, FIIs 3.8%, DIIs 12.7%, Public 12.6%.Jun '24: Promoters 70.9%, FIIs 3.9%, DIIs 12.7%, Public 12.5%.Sep '24: Promoters 70.9%, FIIs 4.1%, DIIs 13.0%, Public 12.0%.Dec '24: Promoters 70.9%, FIIs 4.2%, DIIs 13.0%, Public 11.9%.Mar '25: Promoters 70.9%, FIIs 4.1%, DIIs 12.9%, Public 12.0%.Jun '25: Promoters 70.9%, FIIs 4.3%, DIIs 12.7%, Public 12.1%.Sep '25: Promoters 70.9%, FIIs 4.2%, DIIs 12.9%, Public 12.0%.Dec '25: Promoters 70.9%, FIIs 4.1%, DIIs 13.0%, Public 11.9%.Mar '26: Promoters 70.9%, FIIs 4.0%, DIIs 13.1%, Public 12.0%.Jun '26: Promoters 70.9%, FIIs 3.8%, DIIs 13.5%, Public 11.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Galaxy Surfactants Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Unnathan Shekhar 11.92%unchanged
Shashikant Rayappa Shanbhag 11.56%unchanged
Ramakrishnan Gopalkrishnan 6.66%unchanged
Yash Sudhir Patil 5.79%unchanged
Siddharth Sudhir Patil 5.79%unchanged
Galaxy Chemicals, Partner Gopalkrishnan Ramakrishnan 5.47%unchanged
Galaxy Chemicals, Partner Late Sandhya Sudhir Patil 5.47%unchanged
Galaxy Chemicals, Partner Shekhar Unnathan 5.47%unchanged
Galaxy Chemicals, Partner Shashikant Rayappa Shanbhag 5.47%unchanged
Jayashree Ramakrishnan 5.20%unchanged
Axis Mutual Fund Mutual fund4.38%unchanged
Nippon Life India Mutual fund4.04%+0.18 pp

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in GALAXYSURF

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹352 Cr
1 schemes
Biggest holder
Nippon India Small Cap Fund
₹352 Cr · 0.4% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹352 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
-16%
vs est. average cost
Held by funds
₹352 Cr
1 schemes · ≈ 3.7% of the company

Shares held by these funds +18912%

Aug '23 15.59 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹2187, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-11%. At that growth it is worth ₹569 — downside of 74%.

Growth the price implies
13.6% a year
for 7 years, fading to 4%
It has actually compounded at
-11.3% a year
net profit, FY23–FY26 · EPS -11.1%
The gap
0.2 pp
-74% downside if it only repeats history
Price today ₹2,187.3 Value at the reference growth ₹568.64

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Galaxy Surfactants Limited

Guides on how to read this kind of business and the numbers that matter.