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Below is quote on Galaxy Surfactant Q1FY22 results by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd   

Galaxy Surfactants reported a mixed than expected set of numbers for Q1FY22 with consolidated revenues registering a growth of 36.1% YoY to ₹826.4. EBIDTA for the quarter stood at ₹108.5 crore up 19.9% YoY to ₹ 108.5crore while EBIDTA margins contracted by 180bps YoY and 190bps QoQ to 13.1%. Net profit for the quarter was up by 36.0% YoY to ₹ 76.8crore and flat on a sequential basis due to sequential decline in depreciation during the quarter. Overall the Q1FY22 results were a mixed bag given the strong sequential growth in topline which came in ahead of estimates  though EBIDTA margins declined more than expected due to sharp increase in input costs. We currently have a BUY rating on Galaxy Surfactants with a target price of Rs. 3,594 and will  review our rating post the conference call.

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