GALAXYSURFGalaxy Surfactants Ltd.
Galaxy Surfactants Q2 FY27 Results: Consolidated Net Profit ₹120 Crore on Total Income of ₹1,817 Crore
- Earnings
- Specialty chemicals
Reviewed byRachit TripathiBlacklitt Research
Galaxy Surfactants (NSE: GALAXYSURF) reported consolidated total income of ₹1,816.77 crore and net profit of ₹119.75 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,236.88 crore and net profit of ₹66.47 crore, it said in a filing on 04 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,816.77 crore, up 36.4% YoY and 1.8% QoQ
- Net profit and EPS: ₹119.75 crore, up 80.1% YoY; basic EPS ₹33.78, not annualised
- Finance costs: ₹9.95 crore, up 36.7% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,236.88 crore, up 32.7% YoY and down 2.8% QoQ
- Net profit and EPS: ₹66.47 crore, up 43.9% YoY; basic EPS ₹18.76, not annualised
- Other income: ₹3.64 crore, down 72.1% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,816.77 | 1,331.96 | +36.4% | 1,785.18 | +1.8% | |
| Revenue from operations | 1,810.41 | 1,326.17 | +36.5% | 1,781.90 | +1.6% |
| Other income | 6.36 | 5.79 | +9.8% | 3.28 | +93.9% |
| 119.75 | 66.49 | +80.1% | 165.92 | -27.8% | |
| Profit before tax | 151.21 | 79.20 | +90.9% | 207.23 | -27.0% |
| Finance costs | 9.95 | 7.28 | +36.7% | 9.28 | +7.2% |
| Depreciation | 34.72 | 29.81 | +16.5% | 35.97 | -3.5% |
| Tax expense | 31.46 | 12.71 | +147.5% | 41.31 | -23.8% |
| Net profit margin | 6.59% | 4.99% | +1.60 pp | 9.29% | -2.70 pp |
| EPS, basic (₹) | 33.78 | 18.75 | +80.2% | 46.80 | -27.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew faster than income this quarter. Net profit rose 80.1% YoY against 36.4% growth in total income, and profit before tax rose 90.9%.
Tax expense of ₹31.46 crore is 20.8% of profit before tax of ₹151.21 crore, against ₹12.71 crore a year earlier. Net profit, however, fell 27.8% QoQ while total income rose 1.8%, so the quarter-on-quarter picture differs from the year-on-year one.
Finance costs of ₹9.95 crore are 0.5% of total income, a small share of the group's income. The consolidated figures include one subsidiary that the auditors did not review; they report its total revenues at ₹502.30 crore for the quarter and say their conclusion is not modified.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,236.88 | 932.02 | +32.7% | 1,272.29 | -2.8% | |
| Revenue from operations | 1,233.24 | 918.97 | +34.2% | 1,265.53 | -2.6% |
| Other income | 3.64 | 13.05 | -72.1% | 6.76 | -46.2% |
| 66.47 | 46.19 | +43.9% | 105.94 | -37.3% | |
| Profit before tax | 90.14 | 58.64 | +53.7% | 142.04 | -36.5% |
| Finance costs | 9.42 | 6.35 | +48.3% | 8.73 | +7.9% |
| Depreciation | 21.70 | 17.93 | +21.0% | 22.99 | -5.6% |
| Tax expense | 23.67 | 12.45 | +90.1% | 36.10 | -34.4% |
| Net profit margin | 5.37% | 4.96% | +0.42 pp | 8.33% | -2.95 pp |
| EPS, basic (₹) | 18.76 | 13.03 | +44.0% | 29.88 | -37.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 43.9% YoY, slower than profit before tax (up 53.7%) and slower than consolidated net profit (up 80.1%). Consolidated net profit of ₹119.75 crore is ₹53.28 crore higher than the standalone figure of ₹66.47 crore.
Other income fell from ₹13.05 crore to ₹3.64 crore, while revenue from operations rose 34.2%. Tax expense of ₹23.67 crore is 26.3% of profit before tax of ₹90.14 crore. Net profit fell 37.3% QoQ, more than the 2.8% fall in total income.
The standalone statement notes a net gain on preference shares at fair value of ₹(0.45) crore for the quarter, against ₹6.29 crore a year earlier.
The company is a manufacturer of surfactants and speciality ingredients for personal care and home care industries, according to the notes. Its market value is ₹8,037 crore at the 04 Nov 2026 close of ₹2,267.10 a share. Its latest quarter reported, Q1 FY27, showed consolidated net profit of ₹165.92 crore, so this quarter's ₹119.75 crore is lower than the previous quarter.
The filing also covers a GIDC order to vacate land, with a carrying value of ₹72.54 crore as of 30 Sep 2026. The company says it is legally advised that it has a strong case, and no provision has been considered necessary at this stage.
Inference
The board approved an interim dividend of ₹18 per share for FY 2026-27, with a record date of 11 Nov 2026, and the filing says it will be paid within 30 days of declaration. The filing also records a final dividend of ₹22 per share (₹78.00 crore) for FY 2025-26, paid in the quarter.
The board approved re-appointing K. Natarajan as Managing Director from 18 Feb 2027 to 31 Mar 2029, subject to members' approval, and the auditors S R B C & CO LLP for five years, replacing Deloitte Haskins and Sells LLP. The filing does not say what the outcome of the GIDC matter in the High Court will be, or how much could be lost beyond the ₹72.54 crore carrying value.
Filed with BSE on . Reference: Original filing (PDF)
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