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The specialty chemical maker said increase in revenue was on account of better sales volumes in both performance surfactants and specialty care business along with better sales mix. The chemical maker's consolidated total volume increased by 7.3% year on year to 58,238 MT.
Profit before tax surged 63.2% to Rs 103.22 crore in Q3 FY21 from Rs 63.23 crore in Q3 FY20. Current tax expense spiked 17.5% to Rs 18.7 crore in Q3 FY21 as against 15.91 crore in Q3 FY20.
EBITDA stood at Rs 122.5 crore, registering a 43% year on year growth, driven by increasing share of specialty, better product mix due to new products and higher capacity utilization. The board has declared interim dividend of Rs 14 per equity share.
Commenting on the performance U. Shekhar, MD of Galaxy Surfactants said, "If Q2 stood for recovery, Q3 stands for normalisation, sustenance and resumption of the growth trajectory. The robust momentum of Q2 has sustained in Q3. We are pleased to share that Q3 marks the 1st quarter in FY21 where the company has grown in every area, be it segments, regions or each of the financial parameters we measure ourselves on. This quarter also marks the first in FY21 where our Specialty Portfolio has registered Y-O-Y growth, arresting the underperformance reported in the last few quarters. Demand continues to remain robust for our performance surfactants, thus clearly highlighting the resilience and robustness of your company's business model. With the vaccination drive gaining traction, opening up of the economies with greater consciousness about health and hygiene should augur well for our performance, masstige as well premium specialty products. While demand continues to remain robust, rising volatility in raw material prices, supply chain disruptions pose the biggest risks in servicing this underlying demand. But, despite the challenges and none bigger than the one seen this year, we remain confident and optimistic about our growth journey."
Galaxy Surfactants is leading manufacturers of performance surfactants and specialty care products with over 205 product grades. These products are used in consumer-centric home and personal care products like hair care, oral care, skin care, cosmetics, soap, shampoo, lotion, detergent, cleaning products etc.
Galaxy Surfactant fell 0.02% to Rs 2268.15. Shares of Galaxy Surfactants hit a 52-week high of Rs 2,367.15 in intraday today.
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