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Result Presentation November’26 Galaxy Surfactants Limited
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Safe Harbor 2 This presentation and the accompanying slides (the “Presentation”), which have been prepared by Galaxy Surfactants Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This Presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company.
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Company at a Glance 215+ Product Grades Performance Surfactants: 47+ Specialty Care Products: 168+ Extensive R&D Capabilities 100+ Members R&D Centre Pilot Plant Product Application Centre Serving 1,500+ Clients Presence across 95+ countries 2,000+ Employees across all our Facilities 7 Strategically Located Facilities with Inhouse Project Execution Capabilities 5 in India 1 in Egypt 1 in US As on 30th Sept’26 3
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Q2 & H1FY27 Performance Highlights
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Management Commentary 5 Mr. K. Natarajan Managing Director “We are pleased with the strong performance delivered in Q2 FY27. The broad-based growth in India, continued recovery in AMET and sustained momentum in Specialty Care demonstrate the strength and resilience of our business. Our ability to make disciplined commercial decisions and leverage our diversified portfolio has enabled us to deliver a robust performance despite a challenging external environment. The performance over the last two quarters also reflects the exceptional efforts and collaboration of our teams across business development, commercial excellence, procurement, global logistics, manufacturing and operations. Their agility, commitment and focused execution have ensured business continuity amid significant external disruptions. With an improving business mix and continued momentum in Specialty Care, we remain confident in delivering sustainable and profitable growth. Importantly, PAT for the first six months of FY27 has already surpassed the PAT delivered for the entire previous financial year, making a significant milestone for the company. Demand indicators remain encouraging across key markets, with healthy consumption trends in India, improving conditions in AMET and positive Specialty Care demand across geographies. The Company remains vigilant regarding developments in West Asia and their potential implications for global logistics, freight rates and feedstock availability.”
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Key Developments 6 1 4 Consolidated volumes grew in the high single digits, led by Mid-teens growth in the Performance Surfactants segment and sustained momentum in premium and masstige Specialty Care segment across regions AMET delivered strong mid-teens volume growth across both YoY and QoQ, supported by healthy demand from Tier-1 and non-Tier-1 customers despite the volatile geopolitical environment 2 3 5 6 Delivered a Strong earnings recovery, with Q2FY27 EBITDA growing 68% YoY to ₹196 Cr and EBITDA/MT improving to ₹26,920 /MT, driven by volume growth ,disciplined pricing, a favourable product mix and improved operating leverage, despite a volatile supply chain environment India delivered strong mid-teens volume growth across both Performance Surfactants and Specialty care segments, driven by healthy demand from Tier-1, non-Tier-1 and D2C customers ROW volumes declined in the high single digits, primarily due to supply-chain disruptions impacting APAC and Europe; however premium and masstige specialty care volumes in the Americas remained resilient Raw material markets remained volatile amid supply chain disruption linked to development in West Asia. Fatty alcohol prices remained elevated, while petrochemical feedstock costs continued to be high and availability remained tight throughout the quarter 7 The board of directors has approved an interim dividend of Rs 18 per share
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Segment Performance Highlights: Q2 & H1FY27 7 Performance Surfactants Revenue Specialty Care Revenue Net Revenue from Operations ₹ 1,175 cr ₹ 635 cr ₹ 1,810 cr Overall High Single Digit Volume Growth on YoY Q2FY27 H1FY27 ₹ 2,304 cr ₹ 1,288 cr ₹ 3,592 cr Volume Summary on YoY Q2FY27 H1FY27 Performance Surfactant Mid Teens Growth High Single Digit Growth Specialty Care Flat Low Single Digit Growth India Mid Teens Growth Mid Teens Growth AMET Mid Teens Growth Mid Single Digit Growth ROW High Single Digit Decline Flat
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Q2 & H1FY27: Consolidated Performance Total Revenue EBITDA PAT 1,332 1,817 Q2FY26 Q2FY27 +36% 8 Rs in cr 116 196 Q2FY26 Q2FY27 +68% 66 120 Q2FY26 Q2FY27 +80% 2,621 3,602 H1FY26 H1FY27 +37% 251 448 H1FY26 H1FY27 +78% 146 286 H1FY26 H1FY27 +96%
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Q2 & H1FY27: Revenue Performance Category Customers Regions 63% 37% Q2FY26 Q2FY27 35% 65% Performance Surfactants Specialty Care Products 48% 8% 44% Q2FY26 Q2FY27 48% 45% 7% 45% 21% 34% Q2FY26 Q2FY27 44% 33% 23% India AMET ROW 9 MNC Customer Regional Players Local & Niche Player 64% 36% H1FY26 H1FY27 36% 64% 48% 9% 43% H1FY26 H1FY27 42% 9% 49% 44% 21% 35% H1FY26 H1FY27 35% 21% 44%
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Consolidated Profit & Loss Statement Fatty Alcohol prices in this quarter decreased to an average price of $ 2,763 /MT vs Q1 when it stood at $ 2,806/MT. The same was $ 2,800/MT in Q2FY26 As per Ind AS *Not Annualised 10 #Statutory Impact of New Labour Codes Particulars (Rs. In Crores) Q2FY27 Q2FY26 Y-o-Y H1FY27 H1FY26 Y-o-Y FY26 Net Revenue from Operations 1,810.4 1,326.2 36.5% 3,592.3 2,604.1 37.9% 5,248.3 Other Income 6.4 5.8 9.6 17.0 22.1 Total Revenue 1,816.8 1,332.0 36.4% 3,602.0 2,621.1 37.4% 5,270.4 Cost of Material Consumed 1,311.7 1,001.3 2,572.0 1,944.0 3,917.7 Employee's Benefits Expense 104.5 80.5 204.6 164.0 328.1 Other Expenses 204.7 133.9 376.9 261.7 527.3 EBITDA 195.9 116.3 68.4% 448.4 251.4 78.4% 497.4 EBITDA Margin 10.8% 8.7% 12.4% 9.6% 9.4% Depreciation 34.7 29.8 70.7 59.1 123.0 EBIT 161.2 86.5 86.4% 377.7 192.2 96.5% 374.4 Finance cost 10.0 7.3 19.2 13.8 30.9 PBT (Before Exceptional) 151.2 79.2 90.9% 358.4 178.4 100.9% 343.5 Exceptional Item 0.0 0.0 0.0 0.0 11.9# PBT (AfterExceptional) 151.2 79.2 90.9% 358.4 178.4 100.9% 331.6 Tax expense 31.5 12.7 72.8 32.4 64.3 PAT 119.8 66.5 80.1% 285.7 146.0 95.7% 267.4 PAT Margin 6.6% 5.0% 7.9% 1.2% 5.1% Other Comprehensive Income 16.4 38.6 14.6 40.5 126.8 Total Comprehensive Income 136.1 105.1 29.5% 300.2 186.5 61.0% 394.2 EPS 33.78* 18.75* 80.58* 41.17* 75.41
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Consolidated Balance Sheet 11 Particulars (Rs. In Crores) Sept'26 Mar'26 Particulars (Rs. In Crores) Sept'26 Mar'26 ASSETS EQUITY AND LIABILITIES Property, Plant and Equipment 974.2 982.5 EQUITY Right-of-use assets 175.7 182.9 Equity Share Capital 35.5 35.5 Capital work-in-progress 178.9 181.4 Other Equity 2,935.3 2,709.4 Goodwill 3.5 3.4 Total Shareholders Fund 2,970.8 2,744.8 Other Intangible Assets 4.8 4.9 Non-Current Liabilities Financial Assets Financial Liabilities (i) Investments 1.5 1.0 (ii) Loans 1.8 1.9 (i) Borrowings 49.9 5.7 (iii) Other financial assets 18.7 18.6 (ii) Lease Liabilities 51.4 57.7 Deferred Tax Assets (Net) 9.7 9.1 (iii) Other Financial Liabilities 0.3 0.3 Income Tax Assets (Net) 18.4 14.1 Provisions 14.4 14.7 Other Non-current assets 35.3 31.6 Deferred Tax Liabilities (Net) 30.0 31.4 Total Non-Current Assets 1,422.4 1,431.3 Other Non-current Liabilities 3.1 3.1 Current Assets Total Non-Current Liabilities 149.0 112.9 Inventories 1,024.2 793.7 Current Liabilities Financial Assets Financial Liabilities (i) Investments 481.9 472.6 (i) Borrowings 179.9 158.8 (ii) Trade receivables 1,113.4 750.4 (ii) Trade Payables 856.0 650.9 (iii) Cash and cash equivalents 265.5 109.1 (iii) Lease Liabilities 13.7 13.3 (iv) Bank Balances other than cash and cash equivalents 2.6 165.8 (iv) Other Financial Liabilities 28.1 15.7 (v) Loans 1.1 1.1 Other Current Liabilities 241.3 163.8 (vi) Other Financial Assets 7.9 7.7 Provisions 10.0 9.2 Other Current Assets 153.0 142.4 Current Tax Liabilities (Net) 23.0 4.8 Total Current Assets 3,049.4 2,442.8 Total Current Liabilities 1,352.0 1,016.4 TOTAL ASSETS 4,471.7 3,874.2 TOTAL EQUITY & LIABILITIES 4,471.7 3,874.2
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Consolidated Cashflow Statement 12 Particulars (Rs. In Crores) H1FY27 H1FY26 Cash Flow From Operating Activities : Profit After Tax 285.7 146.0 Operating Profit before working Capital changes 442.4 241.0 Net cash flows generated from/(used) in Operating Activities (A) 76.6 169.4 Net cash flows generated from/(used) in Investing Activities (B) 116.1 -111.5 Net cash flows generated from/(used) in Financing Activities (C) -37.6 5.3 Net Increase/(Decrease) in cash and cash equivalents (A+B+C) 155.1 63.2 Opening cash and cash equivalents 109.1 193.4 Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies 1.3 8.4 Closing cash and cash equivalents 265.5 265.0
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Standalone Profit & Loss Statement 13 As per Ind AS *Not Annualised #Statutory Impact of New Labour Codes Particulars (Rs. In Crores) Q2FY27 Q2FY26 Y-o-Y H1FY27 H1FY26 Y-o-Y FY26 Net Revenue from Operations 1,233.2 919.0 34.2% 2,498.8 1,793.0 39.4% 3,589.1 Other Income 3.6 13.1 10.4 19.5 29.6 Total Revenue 1,236.9 932.0 32.7% 2,509.2 1,812.6 38.4% 3,618.7 Cost of Material Consumed 922.3 717.8 1,853.7 1,390.6 2,782.3 Employee's Benefits Expense 56.0 44.6 108.5 90.8 181.6 Other Expenses 137.4 86.6 251.9 166.0 337.9 EBITDA 121.3 82.9 46.2% 295.0 165.1 78.6% 316.8 EBITDA Margin 9.8% 8.9% 11.8% 9.1% 8.8% Depreciation 21.7 17.9 44.7 36.0 75.4 EBIT 99.6 65.0 53.2% 250.3 129.2 93.8% 241.5 Finance cost 9.4 6.4 18.2 12.1 27.6 PBT (Before Exceptional) 90.1 58.6 53.7% 232.2 117.1 98.3% 213.9 Exceptional Item 0.0 0.0 0.0 0.0 11.9# PBT (AfterExceptional) 90.1 58.6 53.7% 232.2 117.1 98.3% 202.0 Tax expense 23.7 12.5 59.8 28.9 49.9 PAT 66.5 46.2 43.9% 172.4 88.2 95.4% 152.0 PAT Margin 5.4% 5.0% 6.9% 1.6% 1.4% Other Comprehensive Income -0.5 -0.1 -1.1 -0.3 3.0 Total Comprehensive Income 65.9 46.1 43.1% 171.3 88.0 94.8% 155.1 EPS 18.76* 13.03* 48.64* 24.89* 42.88
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Standalone Balance Sheet 14 Particulars (Rs. In Crores) Sept'26 Mar'26 Particulars (Rs. In Crores) Sept'26 Mar'26 ASSETS EQUITY AND LIABILITIES Property, Plant and Equipment 694.0 690.3 EQUITY Right-of-use assets 141.1 145.4 Equity Share Capital 35.5 35.5 Capital work-in-progress 176.6 176.7 Other Equity 1,639.5 1,542.5 Other Intangible Assets 4.3 4.5 Total Shareholders Fund 1,675.0 1,578.0 Non-Current Liabilities Financial Assets Financial Liabilities (i) Investments 113.7 126.8 (i) Borrowings 49.9 5.7 (ii) Loans 1.8 1.9 (ii) Lease Liabilities 15.5 19.0 (iii) Other financial assets 15.2 15.4 (iii) Other Financial Liabilities 0.3 0.3 Income Tax Assets (Net) 8.1 8.1 Provisions 14.4 14.7 Other Non-current assets 28.2 26.0 Deferred Tax Liabilities (Net) 36.9 36.4 Total Non-Current Assets 1,182.9 1,195.1 Other non-current liabilities 3.1 3.1 Current Assets Total Non-Current Liabilities 120.0 79.3 Inventories 601.3 523.7 Current Liabilities Financial Assets Financial Liabilities (i) Investments 88.8 87.7 (i) Borrowings 179.9 158.8 (ii) Trade Receivables 790.0 576.9 (ii) Trade Payables 640.3 557.6 (iii) Cash and Cash Equivalents 10.7 5.3 (iii) Lease Liabilities 7.3 7.1 (iv) Bank Balances other than Cash and Cash Equivalents 0.8 0.7 (iv) Other Financial Liabilities 9.0 15.8 (v) Loans 1.1 1.1 Other Current Liabilities 87.0 58.6 (vi) Other Financial Assets 15.8 14.7 Provisions 8.8 8.8 Other Current Assets 58.0 63.2 Current Tax Liabilities (Net) 22.1 4.6 Total Current Assets 1,566.4 1,273.3 Total Current Liabilities 954.4 811.1 TOTAL ASSETS 2,749.4 2,468.4 TOTAL EQUITY & LIABILITIES 2,749.4 2,468.4
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Standalone Cashflow Statement 15 Particulars (Rs. In Crores) H1FY27 H1FY26 Cash Flow From Operating Activities : Profit After Tax 172.4 88.2 Operating Profit before working Capital changes 289.1 144.9 Net cash flows generated from/(used) in Operating Activities (A) 65.3 18.2 Net cash flows generated from/(used) in Investing Activities (B) -26.8 -24.8 Net cash flows generated from/(used) in Financing Activities (C) -33.0 3.8 Net Increase/(Decrease) in cash and cash equivalents (A+B+C) 5.5 -2.8 Opening cash and cash equivalents 5.3 9.0 Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies -0.1 -0.1 Closing cash and cash equivalents 10.7 6.1
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Managing Volatility in Raw Material Prices and Currency... 1,000 1,400 1,800 2,200 2,600 3,000 LA Price LA Price 70.00 74.00 78.00 82.00 86.00 90.00 94.00 98.00 USDINR USDINR … through Robust Risk Management Practices Fatty Alcohol Prices (USD / MT) INR / USD Prices Source: Market Prices – ICIS – LOR Source: RBI 16
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CIN No: L39877MH1986PLC039877 Mr. Ruchir Soni Email: Ruchir.Soni@galaxysurfactants.com www.galaxysurfactants.com CIN - U74140MH2010PTC204285 Mr. Mandar Chavan / Mr. Rahul Agarwal mandar.chavan@sgapl.net / rahul.agarwal@sgapl.net +91 96993 82195 / +91 98214 38864 www.sgapl.net Company Investor Relations Advisors : Thank You