Interim report
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November 04, 2026 National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Symbol: GALAXYSURF BSE Limited, Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Scrip Code: 540935 Sub: Outcome of the Board Meeting. Ref: Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, In continuation to our intimation dated October 28, 2026 , the meeting of the Board of Directors of the Company was held as scheduled today i.e. November 04, 2026 and the Board inter -alia has: Financial Results 1. Considered and approved the Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter & half year ended September 30, 2026. 2. Adopted Limited Review Report on Unaudited Financial Results obtained from Statutory Auditors of the Company. Copies of the above documents attached. Interim Dividend Approved and declared Interim Dividend of Rs.18/- per equity share having face value of Rs. 10/ - each, on the equity share capital of the Company for the financial year 2026 -27. The Record date for payment of this interim dividend is fixed as November 11, 2026. The Dividend shall be paid within 30 days from the date of its declaration to the shareholders whose name appears in the Register of Members as on the Record date. Re-appointment of Managing Director Based on the recommendation of the Nomination and Remuneration Committee, considered and approved the re -appointment of Mr. K. Natarajan (DIN: 07626680) as a Managing Director of the Company from February 18, 2027 to March 31, 2029 subject to the approval of members. The details of Mr. K. Natarajan pursuant to SEBI circular are enclosed as Annexure ‘A’. We confirm that Mr. K. Natarajan is not debarred from holding the office of Director, by virtue of any SEBI order or any other such authority. Change in Company Secretary and Compliance Officer Mr. Niranjan Ketkar has tendered his resignation as Company Secretary and Compliance officer w.e.f. December 04, 2026. (closing hours) Based on recommendation of the Nomination and Remuneration Committee, approved the appointment of Ms. Roopali Vikram Kamate (M.No: A19814) as Company Secretary and Compliance Officer and designated her as a Key Managerial Person (“KMP”) of the Company w.e.f. December 05, 2026. The details of Ms. Roopali Vikram Kamate pursuant to SEBI circular are enclosed as Annexure ‘A’. Galaxy Surfactants Ltd. Regd. Office: C-49/2 , TTC Industrial Area, Pawne, Navi Mumbai 400 703 P +91-22-39135500 F +91-39135554 E galaxy@ga laxysurfactants.com www.galaxysurfactants .com CIN No. L39877MH1986PLC039877 ~ GALAXY Chemistry Creates Care
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Appointment of Statutory Auditors Based on the recommendation of the Audit Committee, approved the appointment of M/s. S R B C & CO LLP, Chartered Accountants, ICAI Firm Registration No. 324982E/E300003 as the Statutory Auditors of the Company for a term of five years, commencing from the conclusion of the 41st Annual General Meeting until the conclusion of the 46th Annual General Meeting, subject to approval of the Members. The details pursuant to SEBI circular are enclosed as Annexure ‘A’. The same information will be made available on the Company’s website www.galaxysurfactants.com. The meeting of the board started at 09:30 a.m. and concluded at 08:00 p.m. This is for your information and records. Yours faithfully, For Galaxy Surfactants Limited Niranjan Ketkar Company Secretary encl: as above Galaxy Surfactants Ltd. Regd. Office: C-49/2 , TTC Industrial Area, Pawne, Navi Mumbai 400 703 P +91-22-39135500 F +91-39135554 E galaxy@ga laxysurfactants.com www.galaxysurfactants .com CIN No. L39877MH1986PLC039877 ~ GALAXY Chemistry Creates Care
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Deloitte Haskins & Sells LLP Chartered Accountants One International Center, Tower 3, 31 st Floor, Senapati Bapat Marg Elphinstone Road (West) Mumb ai - 400 013 Maharashtra, India Tel: +91 22 6185 6000 Fax:+9 12261854101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF GALAXY SURFACTANTS LIMITED 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Galaxy Surfactants Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter and half-year ended 30th September, 2026 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"), 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent 's Board of Directors , has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 " Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in Ind ia and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a concl usion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the I ndepende nt Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI) . A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable . 4. The Statement includes the financial information of the following entities: Parent: Galaxy Surfactants Limited List of Subsidiaries: 1) Galax y Chemicals ( Egypt) S.A.E . 2) Galaxy Surfac tant s Americas Inc . 3) Galaxy Holdi ngs (Mauritius) Limited 4) Rainbow Holdings Gmb H 5) Tri-K Industries, Inc . 6) Galaxy Specialt ies Europe B.V. 7) Galaxy Surfactants Mexico S.A. de C.V. 8) Tri- K Mexico S.A. de C.V. Regd. Office: One Internat ional Center, Tower 3, 31 st floor, Senapati Ba pat Marg, Elphinstone Road (West), Mum bai-400 013, Maha rashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP ident ifi cation No: AAB-8737
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Deloitte Haskins & Sells LLP 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesa id Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement . 6. We did not review the interim financial information of one subsidiary included in the unaudited consolidated financia l results, whose interim financial information reflect total assets of Rs. 982 . 79 crore as at 30th September, 2026, total revenues of Rs. 502.30 crore and Rs. 932.37 crore for the quarter and half-year ended 30th September, 2026 respectively, total net profit after tax of Rs. 31.53 crore and Rs. 79.37 crore for the quarter and half-year ended 30th September, 2026 respectively, total comprehensive income of Rs. 31.53 crore and Rs. 79.37 crore for the quarter and half-year ended 30th September, 2026 respectively and net cash inflows of Rs. 110 .22 crore for the half-year ended 30th September, 2026 , as considered in the Statement . This interim financial information has been reviewed by the other auditor whose report has been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above . Our conclusion on the Statement is not modified in respect of this matter. Place: Mumba i Date : 04th November, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants (Firm 's Registration No. 117366W/W-100018) Rupen K. Bhatt (Partner) (Membership No. 046930) (UDIN: 26046930VLWPNI6592)
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GALAXY SURFACTANTS LIMITED Registered Office : C 49/2, TTC Industrial Area, Pawne, Navi Mumbai - 400703, India. CIN No. L39877MH1986PLC039877 Ph. : +91-22-27616666/33063700 Email : investorservices@galaxysurfactants.com, Website : www .galaxysurfactants .com STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2026 Figures in " Crores Quarter ended Half year ended Year ended 30th September, 30th June, 30th September, 30th September, 30th September, 31st March, Particulars 2026 2026 2025 2026 2025 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I. INCOME Revenue from operations 1,810.41 1,781.90 1,326.17 3,592.31 2,604.09 5,248.28 Other income 6.36 3.28 5.79 9.64 17.02 22.10 TOTAL INCOME 1,816.77 1,785.18 1,331.96 3,601.95 2,621.11 5,270.38 II. EXPENSES Cost of materials consumed 1,328.99 1,291.60 1,015.34 2,620.59 1,941.83 3,863.68 Purchases of stock-in-trade 15.34 27.17 22.95 42.51 42.92 89.14 Changes in inventories of finished goods (including stock-in-trade) and work-in- progress (32.65) (58.44) (37.03) (91.09) (40.72) (35.16) Employee benefits expense 104.50 100.14 80.52 204.64 164.01 328.10 Finance costs 9.95 9.28 7.28 19.23 13.83 30.85 Depreciation, amortisation and impairment expenses 34.72 35.97 29.81 70.69 59.13 123.00 Other expenses 204.71 172.23 133.89 376.94 261.70 527.25 TOTAL EXPENSES 1,665.56 1,577.95 1,252.76 3,243.51 2,442.70 4,926.86 Ill. Profit before exceptional Items and tax (1-11) 151.21 207.23 79.20 358.44 178.41 343.52 IV. Exceptional items - 11.88 V. Profit before tax [Ill - IV) 151.21 207.23 79.20 358.44 178.41 331.64 VI.Tax expenses Current tax 30.81 43.54 10.21 74.35 31.78 62.10 Deferred tax (credit)/charge 0.65 (2.23) 2.50 (1.58) 0.65 2.16 Total tax expenses 31.46 41.31 12.71 72.77 32.43 64.26 VII. PROFIT AFTER TAX [V-Vi) 119.75 165.92 66.49 285.67 145.98 267.38 VIII. OTHER COMPREHENSIVE INCOME / (LOSS) FOR THE PERIOD/ YEAR A. (i) Items that will not be reclassified subsequently to profit or loss (0.72) (0.72) (0.17) (1.44) (0.35) 4.06 (ii) Income tax relating to items that will not be reclassified to 0.18 0.18 profit or loss 0.06 0.36 0.09 (1.02) B. (ii Items that will be reclassified subsequently to profit or loss 16.93 (1.28) 38.75 15.65 40.77 123.73 OTHER COMPREHENSIVE INCOME/ (LOSS) FOR THE PERIOD/ YEAR 16.39 (1.82) 38.64 14.57 40.51 126.77 TOTAL COMPREHENSIVE INCOME/ (LOSS) FOR THE PERIOD/ YEAR (VII+ Viii) 136.14 164.10 105.13 300.24 186.49 394.15 Paid up Equity Share Capltal (Face value of" 10 per share) 35.45 35.45 35.45 35.45 35.45 35.45 Other Equity 2,709.38 Earnings per equity share (Face value" 10 per share) Basic (In " ) 33.78* 46.80* 18.75* 80.58* 41.17* 75.41 Diluted (In ") 33.67* 46.66* 18.75* 80.33* 41.17* 75.34 • Not annualfsed
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Galaxy Surfactants limited Consolidated Statement of Assets and liabilities as at 30th September, 2026 Particulars I. Assets Non-Current Assets (a) Property, Plant and Equipment (b) Right of use Asset (Refer Note 6) (c) Capital Work-in-Progress (d) Goodwill (e) Other Intangibl e Assets (f) Financial Assets (i) Investments (ii) loans (iii) Other Financial Assets (g) Deferred Tax Assets (Net) (h) Income Tax Assets (Net) (i) Other Non-Current Assets Total Non-Current Assets Current Assets (a) Inventories (b) Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash and Cash Equivalents (iv) Bank Balances other than Cash and Cash Equivalents (v) Loans (vi) Other Financial Assets (c) Other Current Assets Total Current Assets Total Assets II. Equity And liabilities Equity (a) Equity Share Capital (b) Other Equity Total Equity liabilities Non-Current liabilities (a) Financial Liabilities (i) Borrowings (ii) Lease Liabilities (iii) Other Financial Liabilities (b) Provisions (c) Deferred Tax Liabilities (Net) (d) Other Non-current Liabilities Total Non-Current Liabilities Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Lease Liabilities (iii) Trade Payables (a) Total outstanding dues of Micro and Small Enterprises (b) Total outstanding dues of creditors other than Micro and Small Enterprises (iv) Other Financial liabilities (b) Provisions (c) Current Tax Liabilities (Net) (d) Other Current Liabilities Total Current liabilities Total Equity And liabilities As at 30th September, 2026 Unaudited 974 .16 175.74 178.88 3.48 4.79 1.54 1.77 18.68 9.66 18.35 35.32 1,422 .37 1,024.15 481.88 1,113.38 265.45 2.57 1.09 7.87 152.98 3,049.37 4,471.74 35.45 2,935 .30 2,970.75 49.88 51.39 0.30 14.38 29.99 3.05 148.99 179.89 13.74 17.56 838.46 28.11 9.97 22.95 241.32 1,352.00 4,471.74 Figures in ~ Crores As at 31st March, 2026 Audited 982 .S0 182.91 181.39 3.44 4.89 1.00 1.94 18.60 9.07 14.05 31.55 1,431.34 793.72 472.63 750.38 109.12 165.75 1.14 7.68 142.42 2,442.84 3,874.18 35.45 2,709.38 2,744.83 5.71 57.68 0.30 14.74 31.39 3.12 112.94 158.78 13.30 21.37 629.51 15.68 9.21 4.78 163.78 1,016.41 3,874.18
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Galaxy Surfactants Limited Consolidated Statement of Cash Flows for the Half year ended 30th September, 2026 Particulars For the Half year ended 30th Figures in ~ Crores For the Half year ended 30th Se tember 2026 Se tember 2025 Unaudited Unaudited A. CASH FLOWS FROM OPERATING ACTIVITIES: Profit After Tax Adjustments for : Income tax expenses Finance costs Interest income Dividend income Net gain arising on financial assets measured at Fair Value through Profit and Loss Deferred income from Export Promotion Capital Goods Scheme (EPCG) Unrealised Foreign exchange loss (Net) Loss/(Gain) on sale/retirement of Property, Plant and Equipment (Net) Impairment reversal in Property, Plant and Equipment Depreciation, amortisation and impairment expenses Bad Debts and allowance for Expected Credit Loss and doubtful advances (Net) Liabilities no longer required written back Share based payment expenses (Net) Operating Profit before Working Capital changes Changes in: Trade receivables and Other Assets Inventories Trade payables, provisions and Other Liabilities Cash generated from operations Income Taxes Paid (net of refunds) NET CASH FLOWS GENERATED FROM OPERATING ACTIVITIES B. CASH FLOWS FROM INVESTING ACTIVITIES : 285.67 72.77 19.23 (3.68) (6.88) (3.60) (0.11) 3.87 (0.17) 70.69 1.00 3.65 156.77 442.44 (379.00} (226.37} 299.98 (305.39) 137.05 (60.48) 76.57 Interest received 4.24 Dividend received 6.88 Payments for Property, Plant and Equipment (including Capital Work-in-Progress) and (57.33} Intangible Assets 145.98 32.43 13.83 (3.94) (5.10) (3.87) (0.06} 0.94 1.41 (0.03) 59.13 0.30 (0.04) 95.00 240.98 (19.83) (87.12) 78.86 (28.09) 212.89 (43.53) 169.36 4.15 5.10 (70.05) Proceeds from disposal of Property, Plant and Equipment 0.30 1.91 Purchase of other long term investments (0.53} (0.94} (Purchase)/ Sale of Current Investments (Net) (1.56} (71.89} (Increase)/ Decrease in Earmarked balances with banks (Net) 13.08 (Increase)/ Decrease in bank deposits not considered as Cash and Cash Equivalents (Net) t------1_6_4_.0_8-+- _____ 7_.1_6-; NET CASH FLOWS GENERATED FROM/(USED IN} INVESTING ACTIVITIES 116.08 (111.48) C. CASH FLOWS FROM FINANCING ACTIVITIES : Proceeds from long term borrowings Repayment of long term borrowings Proceeds from/(Repayment of} short term borrowings (Net} Dividend paid on equity shares Interest paid Payment of Lease Liabilities NET CASH FLOWS (USED IN)/ GENERATED FROM FINANCING ACTIVITIES NET INCREASE IN CASH AND CASH EQUIVALENTS OPENING CASH AND CASH EQUIVALENTS Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies CLOSING CASH AND CASH EQUIVALENTS 50.00 (5.83) 22.26 (78.00} (17.89} (8.13) (37.59) 155.06 109.12 1.27 265.45 (10.74) 59.77 (20.94) (14.62} (8.16) 5.31 63.19 193.41 8.44 265.04
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Notes: 1. The consolidated financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on 4th November, 2026. 2. The consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" {"Ind AS 34") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India in terms of Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 3. The Group is in the business of manufacture of surfactants and other speciality ingredients for the personal care and home care industries. There are no separate reportable segments as per IND AS 108- Operating Segments. 4. The Board of Directors of the Parent Company at its meeting held on 4th November, 2026 has approved interim dividend of~ 18 per share on equity shares of~ 10 each {180% of the face value of the equity share of face value of~ 10 each). 5. The Board of Directors of the Parent Company had recommended a final dividend of~ 22 per share {220% of the face value of the equity share of face value of ~ 10 each) aggregating to ~ 78.00 Crores for financial year 2025-26. The same was approved by the shareholders in the Annual General Meeting of the Company held on 12th August, 2026 and it has been paid to shareholders during the quarter ended 30th September, 2026. 6. The Parent Company had received an Order dated 5th October, 2024 from Gujarat Industrial Development Corporation {GIDC), initiating proceedings to vacate the land for non-utilisation within the required period {Carrying value as of 30th September, 2026 is ~ 72.54 Crores). The Parent Company had appealed against the eviction proceedings and has also challenged the termination of lease. Gujarat High Court has granted an interim stay on the termination of lease and the matter is currently subjudice. During the current quarter, Ankleshwar District Court has allowed the appeal filed by the Parent Company by quashing and setting aside the eviction proceedings. The Parent Company is legally advised that it has a strong case. Based on management's assessment and pending legal proceedings, no provision has been considered necessary at this stage. Place : Navi Mumbai Date : 4th November, 2026 $ For Galaxy Surfactants Limited - "~en~~ K.NATARAJAN~. Managing Director DIN : 07626680
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Deloitte Haskins & Sells LLP Chartered Accountants One Intern ational Center, Tower 3, 31st Floor, Senapati Bapat Marg Elphinstone Road (West) Mumbai - 400 013 Maharashtra, India Tel: +91 22 6185 6000 Fax: +91 22 6185 4101 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF GALAXY SURFACTANTS LIMITED 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Galaxy Surfactants Limited ("the Company"), for the quarter and half-year ended 30th September, 2026 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"), 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' , i ssued by the Institute of Chartered Accountants of India (!CAI) . A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financi al and accounting matters, and applying analytical and other review procedures. A review is substant ially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations , 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement . Place: Mumbai Date : 04th November, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018) Rupen K. Bhatt (Partner) (Membership No. 046930) (UDIN : 26046930DYEHPK9182) Regd. Office: One International Center, Tower 3, 31st floo r, Senapati Ba pat M arg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, Indi a. Deloitte Haskins & Sells LLP is registered wit h Limit ed Liability having LLP ident ification No: AAB-8737
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GALAXY SURFACTANTS LIMITED Registered Office: C 49/2, ITC Industr ial Area, Pawne, Navi Mumbai- 400703, India. CIN No. L39877M H1986PLC039877 Ph , +91-22-27616666/3306 3700 Email : investorservices@gala xysurfactant s.com, Website: www .galaxysurfactant s.com STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2026 Figures in "' Crores Quarter ended Half year ended Year ended Particular s 30th September , 30th June, 30th September , 30th September , 30th September , 31st March, 2026 2026 2025 2026 2025 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I. INCOME Revenue from operations 1,233.24 1,265.53 918.97 2,498.77 1,793.04 3,589.07 Other income (Refer Note 6) 3.64 6.76 13.05 10.40 19.53 29.63 TOTAL INCOME 1,236.88 1,272 .29 932 .02 2,509.17 1,812.57 3,618 .70 II. EXPENSES Cost of materials consumed 880.21 952.86 746.15 1,833.07 1,418.45 2,802.19 Purchases of stock-in-trade 7.34 6.36 8.10 13.70 13.34 23.69 Changes in inventories of finished goods (including stock-in-trade) 34.70 (27.78) (36.43) 6.92 (41.19) (43.55) and work-in-p rogress Employee benefits expense 55.95 52.58 44.64 108.53 90.84 181.62 Finance costs 9.42 8.73 6.35 18.15 12.07 27.62 Depreciation, amorti sation and impairm ent expenses 21.70 22.99 17.93 44.69 35.97 75.36 Other expenses 137.42 114.51 86.64 251.93 165.99 337.92 TOTAL EXPENSES 1,146 .74 1,130 .25 873.38 2,276 .99 1,695 .47 3,404.85 Ill . Profit before exceptional items and tax (1-11] 90.14 142.04 58.64 232.18 117.10 213.85 IV. Exceptio nal items 11.88 v. Profit before tax [Ill - IV] 90.14 142.04 58.64 232.18 117.10 201.97 VI.Tax expenses Current tax 24.37 34.60 11.13 58.97 27.79 48.73 Deferred tax (credit) / charge (0.70) 1.50 1.32 0.80 1.08 1.20 Total tax expenses 23.67 36.10 12.45 59.77 28.87 49.93 VII. PROFIT AFTER TAX [V • VI) 66.47 105.94 46.19 172.41 88.23 152.04 VIII. OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD/YEAR A.(i) Item s that will not be reclassified subsequentl y to profit or loss (0.72) (0.72) (0.17) (1.44) (0.35) 4.06 (ii) Income tax relating to items that will not be reclassified to 0.18 0.18 0.05 0.36 0.09 (1.02) profit or loss B. (i) Items that will be reclassified subsequentl y to profit or loss OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD/YEAR (0.54) (0.54) (0.12) (1.08) (0.26) 3.04 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR (VII+ VIII] 65.93 105.40 46.07 171.33 87.97 155.08 Paid up Equity Share Capital (Face value of" 10 per share) 35.45 35.45 35.45 35.45 35.45 35.45 Other Equity 1,542.52 Earnings per equity share (Face value" 10 per share) Basic (In~) 18.76* 29.88* 13.03* 48.64* 24.89* 42.88 Diluted (In~) 18.70* 29.79* 13.03* 48.49* 24.89* 42.84 • Not annualised
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Galaxy Surfactants Limited Standalone Statement of Assets and Liabilities as at 30th September, 2026 Figures in "Crores As at As at Particulars 30th September, 2026 31st March, 2026 Unaudited Audited I. Assets (a) Property, Plant and Equipment 694.00 690.30 (b) Right of use Asset (Refer Note 7) 141.11 145.42 (c) Capital Work-in-Progress 176.56 176.67 (d) Other Intangible Assets 4.25 4.52 (e) Financial Assets (i) Investmen ts 113.66 126.78 (ii) Loans 1.77 1.94 (iii) Other Financial Assets 15.21 15.35 (f) Income Tax Assets (Net) 8.14 8.11 (g) Other Non-Current Assets 28.23 25.97 Total Non-Current Assets 1,182.93 1,195.06 Current Assets (a) Inventories 601.28 523.72 (b) Financial Assets (i) Investments 88.78 87.74 (ii) Trade Receivables 789.95 576.89 (iii) Cash and Cash Equivalent s 10.71 5.32 (iv) Bank Balances other than Cash and Cash Equivalents 0.80 0.70 (v) Loans 1.09 1.10 (vi) Other Financial Assets 15.82 14.65 (c) Other Current Assets 58.01 63.18 Total Current Assets 1,566.44 1,273.30 Total Assets 2,749.37 2,468.36 II. Equity And Liabilities Equity (a) Equity Share Capital 35.45 35.45 (b) Other Equity 1,639.53 1,542.52 Total Equity 1,674.98 1,577.97 Liabilities Non-Current Liabilities (a) Financial Liabilities (i) Borrowings 49.88 5.71 (ii) Lease Liabilities 15.54 19.02 (iii) Other Financial Liabilitie s 0.30 0.30 (b) Provisions 14.38 14.74 (c) Deferred Tax Liabilities (Net) 36.85 36.41 (d) Other Non-current Liabilities 3.05 3.12 Total Non-Current Liabilities 120.00 79.30 Current Liabilities (a) Financial Liabilities (i) Borrowings 179.89 158.78 (ii) Lease Liabilities 7.34 7.10 (iii) Trade Payables (a) Total outstanding dues of Micro and Small Enterprises 17.56 21.37 (b) Total outstanding dues of creditors other than Micro 622.78 536.20 and Small Enterprises (iv) Other Financial Liabilities 8.96 15.77 (b) Provisions 8.76 8.76 (c) Current Tax Liabilities (Net) 22.08 4.55 (d) Other Current Liabilities 87.02 58.56 Total Current Liabilities 954 .39 811.09 ~ Total Equity And Liabilities 2,749.37 2,468.36
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Galaxy Surfactants Limited Standalone Statement of Cash Flows for the Half year ended 30th September, 2026 Figures in ~ Crores For the Half year ended For the Half yea r ended Particulars 30th September, 2026 30th September, 2025 Unaudited Unaudited A. CASH FLOWS FROM OPERATING ACTIVITIES : . Profit After Tax 172.41 88.23 Adjustments for : Income tax expenses 59.77 28.87 Finance costs 18.15 12.07 Interest income (1.32) (0.61) Commission income {1.57) - Deferred income from Export Promotion Capital Goods Scheme (EPCG) (0.11) (0.06) Unrealised Foreign Exchange Loss/ (Gain) (Net) 2.33 (2.52) Loss/(Gain) on sale/r etirement of Property , Plant and Equipment (Net) (0.17) 1.32 Impai rment Reversal in Property , Plant and Equipment - (0.03) Depreciation, amortisation and impa irment expenses 44.69 35.97 Net gain arising on financial assets measured at Fair Value through Profit and Loss (9.30) (18.55) (including income on redemption of preference shares) Share based payment expenses (Net) 3.27 - Bad Debts and allowance for Expected Credit Loss and Doubtful Advances (Net) 0.91 0.26 Liabilities no longer requi red written back - (0.04) 116.65 56.68 Operating Profit before Working Capital changes 289.06 144.91 Changes in: Trade receivables and Other Assets (217.32) (75.95) Inventories (77.56) (98.14) Trade payables, Provisions and Oth er Liabilit ies 112.57 77.42 (182 .31) {96.67) Cash generated from operations 106.75 48.24 Income Taxes Paid (net of refunds) {41.47) {30.05) NET CASH FLOWS GENERATED FROM OPERATING ACTIVITIES 65.28 18.19 B. CASH FLOWS FROM INVESTING ACTIVITIES : Interest received 1.42 0.45 Payments for Property, Plant and Equipment (including Capital Wor k-in-Progre ss) and Intangible Assets {50.20) (58.56) Proceeds from disposal of Property , Plant and Equipment 0.30 0.17 (Purchase)/ Sale of Current Investments {Net) 2.42 4.04 {Increase)/ Decrease in Earm arked balances with banks (Net) - 13.08 (Increase)/ Decrease in bank depo sits not considered as Cash and Cash Equivalents (Net) 0.28 (0.29) Proceeds from redemption of Preferenc e Shares 18.96 16.29 NET CASH FLOWS USED IN INVESTING ACTIVITIES (26.82) (24 .82) C, CASH FLOWS FROM FINANCING ACTIVITIES : Proceeds from long term borrowings 50.00 - Repayment of long term borrowings (5.83) (8.57) Proceeds from/(Repayment of) short term borrowings (Net) 22.26 48.70 Dividend paid on equity shares {78.00) (20.94) Intere st paid {16.93) (11.89) Payment of lease liabilitie s (4.50) (3.51) NET CASH FLOWS (USED IN)/ GENERATED FROM FINANCING ACTIVITIES (33.00) 3.79 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 5.46 (2.84) OPENING CASH AND CASH EQUIVALENTS 5.32 8.95 Effects of exchange rate changes on the balance of cash and cash equiva lents held in (0.07) (0.05) foreign currencies CLOSING CASH AND CASH EQUIVALENTS 10.71 6.06 -
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Notes: 1. The standalone financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held en 4th November, 2026. 2. The standalone financial results have been prepared in accordar,ce with the recognition and measi;rement µrinciples laid down in the Indian Accounting Standard 34 "Interim Hnancial Reporting" ("Ind AS 34") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Reg~lations, 2015, as amended. 3. Tile Company is in the business of manufacture of surfactants and other speciality ingredients for the personal care and home care industries. There arc no separate reportable segments as per IND AS 108- Operating Segments. 4. The Board of Directors at its meet ing held on 4th November, 2026 has approved i!'lterim dividend of" 18 per share on equity shares of" 10 each (180% bf lhe face value of the equity share of face value of.: 10 each). 5. The Board of 6irectors of the Company had recommended a final dividend of" 22 per ~hare (220% of the face value of the eq;Jity share of tdce value nf" 10 each) aggregating to" 78.00 Crores for financial year 2025-26. The same was approved by the shareholders in the An nu JI General Meeting of the Cempa11'( held on 12th August, 2026 and it has been paid to shareholders during the quarter ended 30th September, 2026. 6. Other lnrome includes amount in respect of g~in on financial assets_(preference shares) mandatorily measured at fair value through profit and loss as under: Figure:; in " Crorcs Quarter ended Half year ended Year ended 30th Sept•?rnber, 30th June, 2026 30th September, 30th September, 30th September, 31st March, W26 Particulars 2026 2025 2026. 2025 Unaudited Unaudited Unauc!ited Unaudited Ur.audited Audited Net gain .. on financi~I assets anrimg (Preference shares) mandatorily measured at Fa!r Value through Profit ar.d • Loss (0.45) 6.29 11.09 5.84 14.72 22.03 (incloding income cm redemption of preference shares). I 7. The Company had received an Order dated 5th October, 2024 from Gujardt Industrial Development CorporatiJn (GIDC), initiating proceedings to vacatE the !and for non-urilisation \\ithin the required period (Carrying value as of 30th September, 2026 is~ 72.54 Crores). The Company hud appealed again,ttha evictiori proceedings and has also chal!eneed the termination of lease. Gujarat High Court has granted an interim stay on the termination of 11:,;;se.anci the matt.?r is currently subjuC:ice. During the current quarter, Ankleshwar District · Court has allowed the appeal filed by the Company by quashing and setting aside the eviction proccedin·gs. The Company is legally advised th~t it ha.s a strong case. Based on management's assessment and pending legal proceedings, no provision has been considered necessary at this stage. For Galaxy Surfactants Lir,1ited P!ace : Navi Mumbai !)at2 : 4th tJovember, 2026 ~~~
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ANNEXURE ‘A’ Details under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI master circular no HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 a) Re-appointment of Managing Director S. no. Particulars Details 1 Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise Re-appointment of Mr. K. Natarajan (DIN: 07626680) as a Managing Director 2 Date of appointment/ re-appointment cessation (as applicable) & term of appointment/ re-appointment From February 18, 2027 to March 31, 2029, subject to approval of members 3 Brief profile Mr. Natarajan holds a Bachelors’ Degree in Commerce from University of Mumbai and is a qualified Cost Accountant from the Institute of Cost and Works Accountants of India. He has completed the Advanced Management Program from the Harvard Business School in May 2016. Since joining Galaxy in April 1993, he has headed diverse functions in Galaxy including Finance, IT, Business Creation, Business Commercial, Global Sourcing and Supply Chain and was designated as Chief of Operations in December 2009. Mr. Nataraj an was designated as Executive Director and COO of the Company from October 1, 2016 and has been appointed as Managing Director w.e.f. February 18, 2024. 4 Disclosure of relationships between directors Not related to any director b) Change of Company Secretary and Compliance Officer Resignation: S. no. Particulars Details 1 Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise Resignation of Mr. Niranjan Ketkar as Company Secretary and Compliance officer 2 Date of appointment/ re-appointment cessation (as applicable) & term of appointment/ re-appointment Effective December 04, 2026 (closing hours) 3 Brief profile Not applicable 4 Disclosure of relationships between directors Not related to any director
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Appointment: S. no. Particulars Details 1 Reason for change viz. appointment, re- appointment, resignation, removal, death or otherwise Appointment of Ms. Roopali Vikram Kamate as Company Secretary and Compliance officer 2 Date of appointment/ re-appointment cessation (as applicable) & term of appointment/ re-appointment Effective December 05, 2026 3 Brief profile Ms. Roopali is a qualified Company Secretary (ACS) and holds a Master of Laws (LL.M.) degree. She is an experienced legal, compliance and corporate governance professional with nearly two decades of experience in corporate secretarial, governance, legal advisory, ethics, compliance and regulatory affairs. She currently serves as Head – Corporate Governance at Galaxy Surfactants Limited and has previously held leadership positions with Intervet India Private Limited (group company of Merck & Co, Inc.) handling legal, compliance and secretarial matters across India and other Asian jurisdictions. She possesses extensive experience in corporate governance, board processes, regulatory compliance, investigations, litigation management, contract management and cor porate advisory. 4 Disclosure of relationships between directors Not related to any director c) Appointment of Statutory Auditors S. no. Particulars Details 1 Reason for change viz. appointment, re- appointment, resignation, removal, death or otherwise Completion of second term of Statutory Auditors Deloitte Haskins and Sells LLP 2 Date of appointment / re -appointment cessation (as applicable) & term of appointment/ re-appointment Based on the recommendation of the Audit Committee of Directors, the Board of Directors at its meeting held today approved the appointment of M/s. S R B C & CO LLP, Chartered Accountants, ICAI Firm Registration No. 324982E/E300003, as the Statutory Auditors of the Company for a term of five years i.e. from the conclusion of the 41 st Annual General Meeting until the conclusion of the 46th Annual General Meeting, subject to approval of the Members. 3 Brief profile SRBC, with Firm Registration No. FRN 324982E/E300003 and having its registered office in Kolkata and offices across key cities in India, is a firm of Chartered Accountants registered with the Institute of Chartered Accountants of India (“ICAI”). It is a Li mited Liability Partnership Firm incorporated in India. The firm is a part of M/s. S.R. Batliboi & Affiliates network of audit firms
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S. no. Particulars Details registered with ICAI. The S.R. Batliboi & Affiliates network of firms includes - S.R. Batliboi & Co LLP, S.R. Batliboi & Associates LLP, S R B C & CO LLP, S.V. Ghatalia & Associates LLP. All the network firms including the Firm are primarily engaged in pro viding audit and assurance services to its clients. They along -with its network firms audit several large listed and private companies across diverse market segments including Industrial, Infrastructure, Consumer Products, Financial Services, Technology, Media and Entertainment, Telecommunications and Profe ssional Services. 4 Disclosure of relationships between directors Not Applicable
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October 8, 2026 From, Niranjan Ketkar To The Board of Directors Galaxy Surfactants Limited Subject: Resignation from the position of Company Secretary (Key Managerial Personnel) of the Company Dear Sirs/Madam, I hereby tender my resignation from the position of Company Secretary of the Company (Key Managerial Personnel) , to pursue an alternate career opportunity outside the Organisation. I confirm that there are no material reasons for my resignation beyond what has been stated. I respectfully request the Board to relieve me of my duties effective closing of business hours on December 4, 2026. I further convey my sincere thanks to the Board of Directors of the Company for their unstinted support and cooperation extended to me during my tenure as Company Secretary. Further, request the Company to file the necessary forms with the Registrar of Companies, Ministry of Corporate Affairs, and intimation to the stock exchanges, to give the effect of this resignation.