Galaxy Surfactants (GALAXYSURF) Q2 26/27 earnings summary

Executive summary

• Q2 growth broadened across India and AMET, with sustained Specialty Care momentum; H1FY27 PAT of ₹285.67 crore exceeded FY26 full-year PAT of ₹267.4 crore.

• Q2 consolidated EBITDA rose 68.4% YoY to ₹195.9 crore, supported by volume growth, disciplined pricing, favorable mix and operating leverage.

Financial highlights

• Q2FY27 consolidated revenue was ₹1,810.41 crore and PAT was ₹119.75 crore, versus ₹1,326.17 crore and ₹66.49 crore YoY.

• H1FY27 consolidated revenue was ₹3,592.31 crore and PAT was ₹285.67 crore, versus ₹2,604.09 crore and ₹145.98 crore YoY.

• Q2 EBITDA was ₹195.9 crore, up 68.4% YoY; H1 EBITDA was ₹448.4 crore, up 78.4%.

• H1 operating cash flow was ₹76.57 crore versus ₹169.36 crore; closing cash and cash equivalents were ₹265.5 crore at September 2026.

Outlook and guidance

• FY27 volume growth is expected at the higher end of the 6%-8% guidance; EBITDA per metric ton guidance was raised to ₹26,000-₹27,000.

• ROW volumes are expected to grow YoY in H2 as supply chains improve, though the near-7%-8% decline is not expected to be recovered within six months.

• Leave-on products are targeted to reach 25% of total volumes by 2030; new product commercialization typically takes 12-18 months.

• Existing capacity is considered sufficient for increased demand from India and Egypt over the next 2-3 years; projects typically take 12-15 months to commission.