GALAXY SURFACTANTS LTD

Manufactures surfactants — surface-active ingredients used in personal care products such as shampoos, soaps, baby care items, feminine hygiene, scalp care and anti-acne formulations. Sells a mix of Performance Surfactants (commodity-grade) and Specialty Surfactants (premium, differentiated), with India specialty volumes growing over 27% in FY26. Operates manufacturing facilities in India (Taloja and Jhagadia) and Egypt, and serves customers across India, AMET (Africa, Middle East and Turkey), Americas and Europe, with exports at 38.3% of sales across 68 countries. Recent launches include Galsoft Lumithic, an amino-acid-based mild surfactant, and specialty capex of INR480 crore has been deployed over three years. Raw materials dominate the cost structure at 73.6% of revenue — primarily oleochemicals such as fatty alcohols, plus petrochemical inputs like ethylene oxide and sulfur — and feedstock prices rose sharply through FY26. Per-tonne profitability was INR20,114 in Q4 FY26 versus INR21,715 a year earlier, reflecting feedstock inflation and supply-chain disruption from the West Asia conflict.