Galaxy Surfactants Limited (GALAXYSURF)

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Galaxy Surfactants Limited (GALAXYSURF) · mywealthgrid

About

Galaxy Surfactants manufactures specialty surfactants—inputs for personal care, home care, and industrial applications. ₹8,905 Cr market cap reflects scale in Chemicals & Petrochemicals. Pricing tied to feedstock cycles and end-user demand volatility, typical of commodity-chemical segments.

Face value: ₹10

Market cap

₹8,438 Cr

P/E

23.8×

P/B

3.1×

Dividend yield

1.1%

ROE

10.5%

ROCE

14%

Debt / equity

0.06

OPM

9.1%

EPS (TTM)

₹99.8

Book value

₹774.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatility outpaces revenue swings: EPS ranged ₹5.56–₹22.42 over eight quarters while revenue moved ₹867–₹1,326 Cr (±20%); verify if fixed-cost leverage, working-capital swings, or accounting timing drives this
Operating margin compressed to 7.12% in one quarter versus 9.69% in another; clarify seasonal patterns or feedstock-cost drivers
PE multiple of 33.3 against ROE 10.47% and 1-year return 2.52%—verify growth justification; valuation appears full relative to earnings stability
Surfactant feedstock (crude oil, natural-oil derivatives) cost cycles are sector-typical; verify gross-margin resilience and pricing-power through commodity cycles

Generated analysis · source review pending

Growth drivers

Recent quarters show revenue stabilizing around ₹1,300+ Cr range; growth will depend on volume expansion in end-use categories (personal care, home care, industrial)—track quarterly progression
Operating margins held 8–9.3% across recent periods despite revenue volatility, signaling structural profitability; earnings growth will scale with volumes if margins persist
Balance-sheet leverage near-zero (D/E 0.06) provides financial flexibility for growth capex or M&A without strain—verify whether management plans deployment
Consistent quarterly dividends and recent payout history signal stable cash generation; clarify whether retained earnings fund capacity expansion or geographic growth

Generated analysis · source review pending

2,130 historical price candles were omitted because the exchange source has not been verified.

₹2,376.9+3.3%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 12.1×
+Dividend payout of 26.1% of profit
+High promoter holding of 70.9% with no pledge

Cons

−Profit declined 2.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 48
Growth: 56
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,248	2,463	2,763	2,596	2,784	3,686	4,445	3,794	4,224	5,248
COGS	1,526	1,751	1,948	1,715	1,775	2,589	3,100	2,578	2,886	3,918
Gross profit	722	711	815	881	1,010	1,097	1,345	1,216	1,338	1,331
	451	424	462	512	561	696	777	754	854	855
	271	288	353	369	449	401	568	462	484	475
OPM %	12.1%	11.7%	12.8%	14.2%	16.1%	10.9%	12.8%	12.2%	11.5%	9.1%
Depreciation	47	49	51	62	74	71	83	100	110	123
Interest	27	31	30	24	13	13	22	22	19	31
	10	10	5	6	11	13	10	35	26	10
Profit before tax	207	219	277	289	372	329	473	375	380	332
Tax	60	61	86	58	70	67	92	74	76	64
Tax %	28.8%	27.8%	31%	20.2%	18.9%	20.2%	19.5%	19.7%	19.9%	19.4%
	148	158	191	230	302	263	381	301	305	267
PAT margin %	6.6%	6.4%	6.9%	8.9%	10.9%	7.1%	8.6%	8%	7.2%	5.1%
EPS (₹)	41.6	44.6	53.9	65	85.2	74.1	107.5	85	86	75.4
EPS adjusted (₹)	41.6	44.6	53.9	65	85.2	74.1	107.5	85	86	75.4
	0%	15.7%	16.7%	20%	21.1%	24.3%	20.5%	25.9%	25.6%	29.2%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	35	35	35	35	35	35	35	35	35	35	35
Reserves	406	415	683	841	1,032	1,266	1,539	1,847	2,144	2,327	2,709
	337	336	292	253	320	268	366	272	132	142	164
	322	323	445	438	425	480	660	580	604	958	965
Total equity & liabilities	1,100	1,110	1,455	1,568	1,812	2,049	2,601	2,734	2,915	3,462	3,874
	436	418	447	519	632	709	758	923	973	1,030	1,174
CWIP	51	51	25	83	66	124	205	139	159	262	181
Investments	0	0	0	6	6	43	0	0	198	299	474
	614	641	984	961	1,108	1,173	1,637	1,672	1,585	1,871	2,045
Total assets	1,100	1,110	1,455	1,568	1,812	2,049	2,601	2,734	2,915	3,462	3,874

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	29.5%	33.9%	36.3%	29.8%	30.3%	32.1%	31.7%	25.4%
EBITDA margin %	12.8%	14.2%	16.1%	10.9%	12.8%	12.2%	11.5%	9.1%
EBIT margin %	10.9%	11.8%	13.5%	8.9%	10.9%	9.6%	8.9%	6.7%
PAT margin %	6.9%	8.9%	10.9%	7.1%	8.6%	8%	7.2%	5.1%
Working capital
Receivable days	56	62	61	63	50	57	59	52
Inventory days	66	69	88	100	76	79	92	74
Payable days	2	1	78	73	51	63	78	61
NWC days	121	130	72	90	76	73	72	65
Leverage
Current ratio	1.61	1.64	1.87	1.81	2.37	2.84	2.15	2.42
Debt to EBITDA	0.72	0.87	0.6	0.91	0.48	0.28	0.29	0.35
Debt to equity	0.29	0.3	0.21	0.23	0.14	0.06	0.06	0.06
Interest coverage	10.2	13.1	28.7	26.6	22.8	17.8	20.8	12.1
Asset turnover	1.76	1.43	1.36	1.42	1.63	1.3	1.22	1.35
Return ratios
Return on assets %	12.2%	12.7%	14.7%	10.1%	13.9%	10.3%	8.8%	6.9%
Return on capital employed %	33.4%	27.8%	28.9%	21.6%	26.1%	18.2%	16.7%	14%
Return on equity %	21.8%	21.6%	23.2%	16.7%	20.2%	13.8%	12.9%	9.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.92%	70.92%	70.91%	70.91%	70.91%	70.91%	70.91%	70.91%	70.91%	70.91%	70.9%	70.9%
	3.07%	3.61%	3.76%	3.87%	4.08%	4.19%	4.09%	4.29%	4.22%	4.09%	3.99%	3.82%
	12.57%	12.44%	12.73%	12.71%	12.99%	12.98%	12.95%	12.7%	12.9%	13.05%	13.1%	13.52%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	13.44%	13.03%	12.6%	12.51%	12.02%	11.92%	12.05%	12.1%	11.97%	11.95%	12.01%	11.76%
No. of shareholders	—	—	—	—	—	—	—	—	49,547	48,423	47,746	46,661

Promoter holding down 0.02 percentage points since Sep 2023.

2 deals · 1 Apr 2025 – 1 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Apr 2025	ICICI PRUDENTIAL MUTUAL FUND	Bulk	NSE	Buy	2,97,500	₹2,092.00	₹62.24 Cr
1 Apr 2025	ICICI PRUDENTIAL MUTUAL FUND	Bulk	BSE	Buy	2,97,500	₹2,092.00	₹62.24 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Kanwar Bir Singh AnandNon-Executive - Independent Director-Chairperson
Mr. Natarajan Krishnan KulumaniExecutive Director-MD
Mr. Unnathan ShekharNon-Executive - Non Independent Director
Mr. G RamakrishnanNon-Executive - Non Independent Director
Mr. Vaijanath S KulkarniExecutive Director
Mr. Madhavan HariharanNon-Executive - Independent Director
Ms. Sangeeta Kapiljit SinghNon-Executive - Independent Director
Mr. Abhijit DamleChief Financial Officer
Niranjan KetkarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 6 fund houses

Held by these funds

11.76%

of the company's equity

All mutual funds

12.04%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

9 schemes · 6 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	15.59 L	351.61	0.43%	4.391%	-0
Small Cap Fund	Axis Mutual Fund	14.06 L	317.14	1.01%	3.961%	-0
Value Fund	ICICI Prudential Mutual Fund	7.81 L	176.24	0.29%	2.201%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	3 L	67.67	0.69%	0.845%	—
IB60-Groww Small Cap Fund	Groww Mutual Fund	60,546	13.66	1.79%	0.171%	+16,503
FMCG Fund	ICICI Prudential Mutual Fund	49,321	11.12	0.71%	0.139%	-10,849
MF MANUFACTURING FUND	LIC Mutual Fund	13,500	3.05	0.39%	0.038%	+2,000
IB13-Groww Value Fund	Groww Mutual Fund	5,557	1.25	1.68%	0.016%	+1,615

1–8 of 9

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

81 announcementsExport CSV

29 Sept 2026, 10:58 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

15 Sept 2026, 1:50 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

3 Sept 2026, 4:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

3 Sept 2026, 4:42 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

27 Aug 2026, 12:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

20 Aug 2026, 4:28 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

19 Aug 2026, 1:27 pmCompany Update

General Update

General PDF

14 Aug 2026, 2:15 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

Date	Category	Subject	Filing
29 Sept 2026, 10:58 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
15 Sept 2026, 1:50 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	29.5%	33.9%	36.3%	29.8%	30.3%	32.1%	31.7%	25.4%
EBITDA margin %	12.8%	14.2%	16.1%	10.9%	12.8%	12.2%	11.5%	9.1%
EBIT margin %	10.9%	11.8%	13.5%	8.9%	10.9%	9.6%	8.9%	6.7%
PAT margin %	6.9%	8.9%	10.9%	7.1%	8.6%	8%	7.2%	5.1%
Working capital
Receivable days	56	62	61	63	50	57	59	52
Inventory days	66	69	88	100	76	79	92	74
Payable days	2	1	78	73	51	63	78	61
NWC days	121	130	72	90	76	73	72	65
Leverage
Current ratio	1.61	1.64	1.87	1.81	2.37	2.84	2.15	2.42
Debt to EBITDA	0.72	0.87	0.6	0.91	0.48	0.28	0.29	0.35
Debt to equity	0.29	0.3	0.21	0.23	0.14	0.06	0.06	0.06
Interest coverage	10.2	13.1	28.7	26.6	22.8	17.8	20.8	12.1
Asset turnover	1.76	1.43	1.36	1.42	1.63	1.3	1.22	1.35
Return ratios
Return on assets %	12.2%	12.7%	14.7%	10.1%	13.9%	10.3%	8.8%	6.9%
Return on capital employed %	33.4%	27.8%	28.9%	21.6%	26.1%	18.2%	16.7%	14%
Return on equity %	21.8%	21.6%	23.2%	16.7%	20.2%	13.8%	12.9%	9.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	170	111	144	365	5	573	518	421	333
	-59	-43	-53	-165	-84	-149	-344	-295	-378
	-110	-57	-90	-165	59	-264	-189	-157	-51
Net cash flow	0	11	1	35	-20	160	-14	-31	-96
Free cash flow	—	—	—	258	-150	427	360	202	196
CFO / Operating profit %	—	40.9%	50.1%	81.3%	1.2%	100.8%	112.2%	86.8%	70%

Galaxy Surfactants Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

14

1

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Galaxy Surfactants Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Dividends14

Board meetings1

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

14

1