Shares of speciality chemicals manufacturer Galaxy Surfactants rose over 12% today after the firm reported a 132% rise in profit for the quarter ended December 2022. Galaxy Surfactants stock climbed 12.22% to Rs 2606 against the previous close of Rs 2322.15 on BSE. The stock opened with a gain of 8.52% at Rs 2520.05.
The stock has lost 16.48% in a year and fallen 1.59% this year. Total 8885 shares changed hands amounting to turnover of Rs 2.19 crore. Market cap of the firm rose to Rs 8580 crore.
The stock hit a 52-week high of Rs 3,445 on September 7, 2022 and a 52-week low of Rs 2302 on January 25, 2022.
In terms of technicals, the relative strength index (RSI) of the firm is 34.8, signaling it’s trading neither in the oversold territory nor overbought territory. The stock has a beta of 0.4, indicating low volatility in a year. It has a price to equity ratio of 25 against the industry average of 16.72. The stock trades higher than the 5-day and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.
Galaxy Surfactants’ net sales rose to Rs 1,080.26 crore in the December 2022 quarter , up 16.27% from Rs 929.09 crore in the December 2021 quarter.
Net profit zoomed 132.81% to Rs 106.21 crore in the December 2022 quarter from Rs 45.62 crore in the December 2021 quarter.
EBITDA surged 101.92% to Rs 157.80 crore in the December 2022 quarter against Rs 78.15 crore in the December 2021 quarter. EPS of the firm rose to Rs 29.96 in Q3 from Rs 12.86 in December 2021.
Galaxy Surfactants is one of India’s leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries. The company’s diversified customer base currently comprises multinational, regional and local FMCG companies, including, Cavinkare, Colgate-Palmolive (India), Dabur India, Henkel, Himalaya, L’oreal, Procter & Gamble, Reckitt Benckiser, Ayur Herbals, Jyothy Laboratories and Unilever. Currently, it has seven strategically located manufacturing facilities, out of which five are located at Tarapur and Taloja in Maharashtra; and Jhagadia in Gujarat and two are located overseas in the US and Egypt.
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