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Galaxy Surfactants Q2 FY27 results: net profit up 80.1% to ₹119.75 crore, revenue up 36.5%
Galaxy Surfactants Limited reported consolidated Q2 FY27 revenue of ₹1,810 crore, up 36.5% from Q2 FY26, while net profit rose 80.1% to ₹119.75 crore. EBITDA increased 71.5% to ₹189.52 crore, but profit and margin were lower than in Q1 FY27. The board approved an interim dividend of ₹18 per equity share.
Key points
- Consolidated Q2 FY27 revenue was ₹1,810 crore, up 36.5% from ₹1,326 crore in Q2 FY26 and 1.6% from ₹1,782 crore in Q1 FY27.
- Q2 FY27 EBITDA was ₹189.52 crore, up 71.5% year on year but down 23.9% from Q1 FY27; EBITDA margin was 10.5%, compared with 8.3% and 14.0% in the prior-year and previous quarters.
- Net profit was ₹119.75 crore, up 80.1% from ₹66.49 crore in Q2 FY26 but down 27.8% from ₹165.92 crore in Q1 FY27; basic EPS was ₹33.78.
- H1 FY27 revenue was ₹3,592.31 crore, up 37.9% from ₹2,604.09 crore, while PAT rose 95.7% to ₹285.67 crore.
- The board approved an interim dividend of ₹18 per equity share for FY27, with 11 November 2026 fixed as the record date.
How did Galaxy Surfactants perform in Q2 FY27?
Galaxy Surfactants reported consolidated revenue of ₹1,810 crore in Q2 FY27, up 36.5% from ₹1,326 crore in Q2 FY26 and 1.6% from ₹1,782 crore in Q1 FY27. EBITDA rose 71.5% year on year to ₹189.52 crore but fell 23.9% from ₹249.20 crore in the previous quarter. EBITDA margin was 10.5%, compared with 8.3% a year earlier and 14.0% in Q1 FY27.
Net profit for the quarter was ₹119.75 crore, up 80.1% from ₹66.49 crore in Q2 FY26 but down 27.8% from ₹165.92 crore in Q1 FY27. Basic EPS was ₹33.78, against ₹18.75 in the year-ago quarter and ₹46.80 in the previous quarter. On the standalone basis, revenue was ₹1,233.24 crore and PAT was ₹66.47 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,810 | 1,782 | 1,326 | +36.5% | +1.6% |
| Other income | 6.36 | 3.28 | 5.79 | +9.8% | +93.9% |
| Total expenses | 1,666 | 1,578 | 1,253 | +33.0% | +5.6% |
| EBITDA | 189.52 | 249.20 | 110.50 | +71.5% | −23.9% |
| EBITDA margin | 10.5% | 14.0% | 8.3% | +2.2 pp | −3.5 pp |
| Profit before tax | 151.21 | 207.23 | 79.20 | +90.9% | −27.0% |
| Tax | 31.46 | 41.31 | 12.71 | +147.5% | −23.8% |
| Net profit | 119.75 | 165.92 | 66.49 | +80.1% | −27.8% |
| EPS (₹) | 33.78 | 46.80 | 18.75 | +80.2% | −27.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Galaxy Surfactants' costs and profit?
Against Q2 FY26, total expenses rose 33.0% to ₹1,666 crore, while revenue rose 36.5% to ₹1,810 crore. Cost of materials increased by ₹313.65 crore to ₹1,329 crore, employee cost by ₹23.98 crore to ₹104.50 crore, finance costs by ₹2.67 crore to ₹9.95 crore, depreciation by ₹4.91 crore to ₹34.72 crore and other expenses by ₹70.82 crore to ₹204.71 crore. Other income increased by ₹0.57 crore to ₹6.36 crore.
There was no exceptional item in Q2 FY27. PBT rose by ₹72.01 crore to ₹151.21 crore from ₹79.20 crore, while tax increased by ₹18.75 crore to ₹31.46 crore from ₹12.71 crore. Net profit consequently rose by ₹53.26 crore to ₹119.75 crore, and PAT margin increased by 1.6 percentage points to 6.6% from 5.0%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,329 | 1,015 | +313.65 | +30.9% |
| Employee cost | 104.50 | 80.52 | +23.98 | +29.8% |
| Finance costs | 9.95 | 7.28 | +2.67 | +36.7% |
| Depreciation | 34.72 | 29.81 | +4.91 | +16.5% |
| Other expenses | 204.71 | 133.89 | +70.82 | +52.9% |
| Total expenses | 1,666 | 1,253 | +412.80 | +33.0% |
| Other income | 6.36 | 5.79 | +0.57 | +9.8% |
| Tax | 31.46 | 12.71 | +18.75 | +147.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Galaxy Surfactants reported consolidated revenue of ₹3,592.31 crore, up 37.9% from ₹2,604.09 crore in H1 FY26. Total income rose 37.4% to ₹3,601.95 crore from ₹2,621.11 crore, while PBT increased 100.9% to ₹358.44 crore from ₹178.41 crore.
PAT for the first half rose 95.7% to ₹285.67 crore from ₹145.98 crore, and basic EPS increased to ₹80.58 from ₹41.17. Management said in the investor presentation that H1 FY27 PAT had already exceeded the ₹267.4 crore reported for the entire FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,592 | 2,604 | +37.9% |
| Profit before tax | 358.44 | 178.41 | +100.9% |
| Net profit | 285.67 | 145.98 | +95.7% |
| EPS (₹) | 80.58 | 41.17 | +95.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹4,471.74 crore, compared with ₹3,874.18 crore at 31 March 2026, while total equity was ₹2,970.75 crore against ₹2,744.83 crore. Borrowings increased to ₹229.77 crore from ₹164.49 crore and cash rose to ₹265.45 crore from ₹109.12 crore. Inventories were ₹1,024.15 crore against ₹793.72 crore, trade receivables ₹1,113.38 crore against ₹750.38 crore, and trade payables ₹856.02 crore against ₹650.88 crore.
H1 FY27 operating cash flow was ₹76.52 crore, compared with ₹169.36 crore in H1 FY26. Investing cash flow was ₹116.13 crore against an outflow of ₹111.48 crore, financing cash flow was an outflow of ₹37.59 crore against ₹5.31 crore of inflow, and capital expenditure was ₹57.28 crore against ₹70.05 crore. Management cited the lower operating cash flow as a risk in the investor presentation.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,472 | 3,874 |
| Total equity | 2,971 | 2,745 |
| Borrowings | 229.77 | 164.49 |
| Cash and equivalents | 265.45 | 109.12 |
| Inventories | 1,024 | 793.72 |
| Trade receivables | 1,113 | 750.38 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 76.52 | 169.36 |
| Cash from investing | 116.13 | −111.48 |
| Cash from financing | −37.59 | 5.31 |
| Capital expenditure | 57.28 | 70.05 |
Source: Company's results filing (XBRL).
How has Galaxy Surfactants done over the last 8 quarters?
Revenue reached ₹1,810 crore in Q2 FY27, the highest level in the eight-quarter series, after rising from ₹1,326 crore in Q2 FY26 and ₹1,329 crore in Q3 FY26. Revenue rose year on year in each of the last eight quarters. In the latest quarter, revenue was higher than Q1 FY27’s ₹1,782 crore.
Profit and margin moved differently across the latest quarters. PAT was ₹165.92 crore and the EBITDA margin was 14.0% in Q1 FY27, compared with ₹119.75 crore and 10.5% in Q2 FY27. The EBITDA margin bottomed at 8.3% in Q2 FY26, while PAT bottomed at ₹58.97 crore in Q3 FY26. Profit rose year on year in each of the last two quarters.
What else did the company announce?
The board approved and declared an interim dividend of ₹18 per equity share having a face value of ₹10 each for FY27. The record date was fixed as 11 November 2026, and the dividend is to be paid within 30 days of its declaration to shareholders on the register as of that date. The board also approved the reappointment of K. Natarajan as Managing Director from 18 February 2027 to 31 March 2029, subject to shareholder approval.
Niranjan Ketkar will resign as Company Secretary and Compliance Officer with effect from the close of business on 4 December 2026, and Roopali Vikram Kamate will become Company Secretary and Compliance Officer and a Key Managerial Person from 5 December 2026. The board also approved the appointment of S R B C & CO LLP as statutory auditors for five years, subject to shareholder approval. No fund raise was disclosed.
What did Galaxy Surfactants' management say?
Managing Director K. Natarajan said the broad-based growth in India, continued recovery in AMET and sustained momentum in Specialty Care reflected disciplined commercial decisions and operating leverage. He said demand indicators remained encouraging, with healthy consumption trends in India, improving conditions in AMET and positive Specialty Care demand across geographies. Management said, “we remain confident in delivering sustainable and profitable growth,” without stating a specific period.
Management said India recorded mid-teens volume growth across Performance Surfactants and Specialty Care, while AMET also recorded mid-teens volume growth supported by Tier-1 and non-Tier-1 demand. ROW volumes declined in the high single digits because of supply-chain disruptions in APAC and Europe, although premium and masstige Specialty Care volumes in the Americas remained resilient. Specialty Care volumes were flat in Q2 FY27.
Management identified elevated fatty alcohol prices, high petrochemical feedstock costs and tight availability as operating conditions during the quarter. It said developments in West Asia could affect global logistics, freight rates and feedstock availability. The presentation also noted volatility in fatty alcohol and petrochemical feedstock markets. The supplied presentation did not include analyst questions or answers.
How did other Specialty Chemicals companies do?
Among 57 Specialty Chemicals companies that filed for the quarter as of 5 November 2026, the median revenue growth was 28.1%. Of the peers compared, 35 grew slower than Galaxy Surfactants and 22 grew faster than Galaxy Surfactants, based on Galaxy’s 36.5% revenue growth in Q2 FY27. Of the 53 peers for which profit was compared, 46 reported higher profit.
| Galaxy Surfactants revenue growth (YoY) | +36.5% |
|---|---|
| Median of 57 other Specialty Chemicals companies | +28.1% |
| Companies with slower revenue growth than Galaxy Surfactants | 35 of 57 |
| Companies with faster revenue growth than Galaxy Surfactants | 22 of 57 |
| Companies whose net profit rose | 46 of 53 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Galaxy Surfactants' revenue in Q2 FY27?
Revenue from operations was ₹1,810 crore, up 36.5% from ₹1,326 crore in Q2 FY26 (consolidated).
Did Galaxy Surfactants make a profit in Q2 FY27?
Yes. Net profit was ₹119.75 crore, against a net profit of ₹66.49 crore in Q2 FY26.
What was Galaxy Surfactants' EPS in Q2 FY27?
Basic earnings per share were ₹33.78, against ₹18.75 in Q2 FY26.
When did Galaxy Surfactants announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approving Unaudited Financial Results And Interim Dividend FY 27, If Any. (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 04.11.2026 (BSE, 4 November 2026) · PDF
- Unaudited Financial Results (Consolidated And Standalone) For Quarter And Half Year Ended On September 30, 2026 (BSE, 4 November 2026) · PDF
- The investor presentation (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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