Galaxy Surfactants (GALAXYSURF) Q4 25/26 earnings summary

Executive summary

• Q4 and FY 2026 performance remained resilient despite significant disruptions from the West Asia conflict, impacting global supply chains, logistics, and input costs.

• India volumes grew by high single digits in Q4, led by Specialty Care Products and non-Tier 1 segments, while AMET and Rest of World regions faced volume declines due to logistics and raw material constraints.

• Americas showed sequential improvement, especially in Specialty Care Products, following tariff reversals.

• Audited standalone and consolidated financial results for FY 2025-26 were approved, with unmodified audit opinions from statutory auditors.

• A final dividend of ₹22 per equity share was recommended for FY 2025-26, subject to AGM approval.

Financial highlights

• Q4 FY 2026 consolidated revenue was ₹1,315 crore, up 14.1% YoY; FY 2026 consolidated revenue was ₹5,270.38 crore, up from ₹4,249.48 crore.

• Q4 FY 2026 EBITDA was ₹122 crore, down from ₹135 crore in Q4 FY 2025; FY 2026 EBITDA was ₹497 crore, down 2.5% YoY.

• Q4 FY 2026 PAT was ₹62 crore, down 17.7% YoY; FY 2026 PAT was ₹267.38 crore, down from ₹304.91 crore.

• Q4 FY 2026 EBITDA per metric ton was ₹20,114; FY 2026 EBITDA per metric ton stood at ₹19,357.

• Q4 FY 2026 EPS was ₹17.60 (not annualized); FY 2026 consolidated EPS was ₹75.41.

Outlook and guidance

• Q1 FY 2027 is expected to deliver at the higher end of 6%-8% volume growth and EBITDA per metric ton of ₹19,000–21,000, assuming current conditions persist.

• Management expects sequential improvement in coming quarters, supported by agile pricing, strong customer partnerships, and focus on specialty growth.

• India is expected to maintain 8%-10% growth if demand remains robust and inflationary pressures do not escalate.

• Management remains cautious about providing full-year guidance due to ongoing geopolitical and supply chain uncertainties.

• The company continues to monitor regulatory developments, especially regarding new labour codes, and will assess accounting implications as further guidance emerges.