Galaxy Surfactants Limited — Earnings Release 2021

Jun 8, 2021

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June 08, 2021

National Stock Exchange of India Limited, BSE Limited, Listing Compliance Department Listing Department, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai- 400001 Mumbai – 400 051 Scrip Symbol: GALAXYSURF Scrip Code: 540935

Sub: Earnings release on Audited Financial Results for the quarter & year ended March 31, 2021.

Ref: Regulation 30 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/ Madam,

We are enclosing earnings release on Audited Financial Results for the quarter & year ended March 31, 2021.

The information is also hosted in announcement section on the website of the Company at www.galaxysurfactants.com.

We request you to take the same on record.

Yours faithfully, For Galaxy Surfactants Limited

NIRANJAN ARUN Digitally signed by NIRANJAN ARUN KETKAR KETKAR Date: 2021.06.08 18:19:44 +05'30'

Niranjan Ketkar

Company Secretary M. No. A20002

Galaxy Surfactants Limited

Communication Address:

Rupa Solitaire, Ground Floor, Unit no. 8, 12A and 14 Millennium Business Park, Mahape, Navi Mumbai, 400 710 Ph: +91-22-33063700

Regd. Office: C-49/2, TTC Industrial Area, Pawne, Navi Mumbai-400 703, India CIN: L39877MH1986PLC039877 Ph: +91-22-27616666 Fax : +91-22-27615883/ 27615886 e-mail : galaxy@galaxysurfactants.com Website: www.galaxysurfactants.com

Investors Release

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Galaxy Surfactants Limited

Q4 FY21 Consolidated Performance:

• Total volume grew by 8.4% for Q4FY21, on YoY basis

• Total Revenue (including other income) stood at Rs. 786.1 Cr, a YoY growth of 19.7% on account of better sales volumes in both Performance Surfactants and Specialty Care business and better sales mix

• EBITDA stood at Rs. 120.0 Cr, YoY growth of 16.9%; driven by increasing share of specialty, better product mix due to new products and higher capacity utilization

• PAT stood at Rs. 78.7 Cr, YoY growth of 25.3%

FY21 Consolidated Performance:

• Total volume grew by 5.3% for FY21, on YoY basis

• Total Revenue (including other income) stood at Rs. 2,794.9 Cr, a YoY growth of 7.4%

• EBITDA stood at Rs. 459.7 Cr, YoY growth of 22.6%

• PAT stood at Rs. 302.1 Cr, YoY growth of 31.1%

• The Board of Directors has declared a final dividend of Rs. 4 per Equity share of Face Value of Rs. 10 for the financial year 2021. This is in addition to the interim dividend of Rs. 14 Per Equity share recommended in February 2021.

Mumbai, 8[th] June 2021 :

Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 205 product grades used in Home and Personal Care industry, has announced its audited financial results for the Quarter & full year ended 31[st] March 2021.

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Investors Release

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Commenting on the performance Mr. U. Shekhar, Managing Director, Galaxy Surfactants Limited said,

“Oxford Dictionary defines Resilience as “The capacity to recover quickly from difficulties” or “the ability of a substance to spring back into shape, elasticity.” While the World may define 2020-2021 as the Year of the Pandemic & Disruptions, at Galaxy we would like to define the year as the “Year of Resilience” – The Year which tested every aspect of our Business; be it our People, Operations, Supply Chain or Demand but despite the challenges that persisted throughout the year; the Performance has been exceptional. Exceptional as:

• At the start of the Financial Year, we had 1.5 Months of Complete Shutdown

• Multiple Supply Chain disruptions that persisted all through the year

• Demand Variability Challenges with excess demand for Performance Surfactants and cut down in consumption of Specialty Care Products at different points and finally

• A pandemic to deal with, with varying intensity levels throughout the year. Against that your company has delivered – a) Volume growth of 5.3% b) EBITDA growth of 22.6% c) PAT Growth

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Investors Release

of 31.1% d) With a ROCE of 25.2%, an improvement of 170 bps & e) Net Operating Cash generation of Rs. 365 Crores

Our Performance Surfactants have registered a healthy 8.8% volume growth and despite the disruptions in H-1, Specialty Care Products have ended the year with a 1% decline in volumes. In H-2 while the demand for Performance Surfactants remained the same in absolute terms vis-à-vis H-1; implying the structural uptick in demand, Specialty Care products registered a 15.7% volumes growth in H2 over H1 FY 2020-21, thus arresting the decline seen in H-1.

Despite the shutdown in Q-1, volumes in India have grown 11.2% vs Previous Year. AMET market which got its mojo back in Q-2 FY 20, has not only sustained it but also registered a healthy 8.2% volume growth for the year. Finally Rest of the World markets which primarily are driven by Specialty Care Products, while saw a major decline of 16% in H-1 vs previous year have made a strong comeback in H-2 registering a growth of 4%, overall ending the year with a 6.8% decline.

To summarize, if 2020-21 were an alphabet, it would be called as the year of P - 5P’s; Pandemic & Pressures countered by Persevering People and Persistent Partnerships which ensured we deliver a near Perfect Performance!”

Performance Highlights:

Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)	Galaxy Surfactants Limited (Consolidated Results)
Particulars (Rs. Cr)	Q4FY21	Q4FY20	YoY%	FY21	FY20	YoY%
Total Revenue*	786.1	656.7	19.7%	2,794.9	2,602.3	7.4%
EBITDA*	120.0	102.6	16.9%	459.7	374.8	22.6%
PAT	78.7	62.8	25.3%	302.1	230.4	31.1%

*Includes other income

	Galaxy Surfactants Limited(Volume Break up)	Galaxy Surfactants Limited(Volume Break up)
Particulars	YoY Growth %(Q4FY21 vsQ4FY20)	YoY Growth %(FY21 vs FY20)
Sales Volume	8.4%	5.3%
ROW	3.8%	-6.8%
India	5.8%	11.2%
AMET	13.4%	8.2%

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Investors Release

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Q4FY21 Performance

• Total volumes stood at 63,007 MT for Q4FY21 as against 58,130 MT in Q4FY20, up by 8.4% YoY o ROW markets grew by 3.8% due to Specialty Care Products

• Indian market grew by 5.8%

• AMET market grew by 13.4% due to recovery in the Egypt market

• Performance Surfactants volume stood at 41,712 MT for Q4FY21, up by 7.4% on YoY basis

• Specialty Care Products volume stood at 21,295 MT for Q4FY21, up by 10.5% on YoY basis

• EBITDA for Q4FY21 stood at Rs. 120.0 Cr as against Rs. 102.6 Cr in Q4FY20, up by 16.9% YoY basis

• Strong EBITDA/MT growth at Rs. 19,039 for Q4FY21 as against Rs. 17,655 in Q4FY20, up by 7.8% YoY basis

• PAT stood at Rs. 78.7 Cr for Q4FY21 as against Rs. 62.8 Cr in Q4FY20 up by 25.3% YoY

FY21 Performance

• Total volumes stood at 236,164 MT for FY21 as against 224,237 MT in FY20, up by 5.3% YoY

• ROW markets de-grew by 6.8% due to Specialty Care Products

• Robust Performance by Indian market with a 11.2% growth

• AMET market grew by 8.2% due to recovery in the Egypt market

• Performance Surfactants volume stood at 156,153 MT for FY21, up by 8.8% on YoY basis

• Specialty Care Products volume stood at 80,011 MT for FY21, down by 0.9% on YoY basis

• EBITDA for FY21 stood at Rs. 459.7 Cr as against Rs. 374.8 Cr in FY20, up by 22.6% YoY basis

• Strong EBITDA/MT growth at Rs. 19,465 for FY21 as against Rs. 16,716 in FY20, up by 16.4% YoY basis

• PAT stood at Rs. 302.1 Cr for FY21 as against Rs. 230.4 Cr in FY20 up by 31.1% YoY basis

About Galaxy Surfactants Limited:

Incorporated in 1986, Galaxy Surfactants Ltd 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.

Preferred suppliers to leading MNC’s, Regional and Local FMCG brands. Our key customers include Unilever, Reckitt Benckiser, P&G, L’OREAL, Himalaya, Colgate Palmolive, CavinKare etc.

Company has its manufacturing facilities located in India (5), Egypt (1) and USA (1).

For more information about the company, please visit our website www.galaxysurfactants.com

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Investors Release

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Safe Harbor:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further details please contact:

Company	Investor Relations Advisors
Galaxy Surfactants Limited CIN No: L39877MH1986PLC039877 Name: Mr. Paritosh Srivastava Email id:paritosh.srivastava@galaxysurfactants.com	Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Mr. Rahul Agarwal / Mr. Vijay Goel Email id: rahul.agarwal@sgapl.net/ vijay.goel@sgapl.net Tel No: +91 98214 38864 / +91 99201 24357

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