Target: ₹3,180

CMP: ₹2,504.15

We attended Galaxy Surfactants’ (GALSURF) capital market day in Mumbai on 13th Jun’25.

The key highlights are:

Over the past 10 years, GALSURF has demonstrated its ability to scale profitably while navigating cyclical and regional challenges. During FY15-25, the company doubled its total volumes, supported by deeper market penetration and category expansion, particularly in rinse-off personal care and home care products. During this same period, EBITDA tripled, driven by operational efficiencies, product mix enhancement, and innovation. PAT grew 5x, reflecting sharp execution and cost control.

Looking ahead to 2030, GALSURF has outlined an ambitious but well-structured growth roadmap. Over the next five years, the company plans to double its volumes and grow EBITDA by 2.5x, while sustaining a RoCE greater than 22 per cent.

Its key internal goal is to achieve an EBITDA/kg of ₹25 by FY30. This growth will be driven by a mix of organic, portfolio-led, and ecosystem-driven initiatives as a strong presence

GALSURF’s 2030 vision is centered on defending and deepening its leadership in India and AMET markets, winning new customers and applications in the Americas, and making focused inroads into specialties in the European Union. This will be enabled through what the management calls the ‘3D’ approach — Development, Digitalization, and Distribution — backed by investments in 1,800 innovation, technology, and talent.

Published on June 16, 2025