Page 11 - HPIC-Magazine (Feb-2021)

Indian News

FINANCIAL PERFORMANCE
Galaxy Surfactants reports 7.7% growth in quarterly

revenues

Galaxy Surfactants Ltd., a leading Total Volume (MT) Total Revenue^ nues to remain robust for
manufacturer of performance surfac- 4.2% 3.2% our performance surfactants,
tants and specialty care products, has 1,66,107 1,73,157 1,946 2,009 thus clearly highlighting the

reported a volume growth of 7.3% for +7.3% +7.7% resilience and robustness
Q3FY21, on YoY basis, alongside a 54,273 58,238 629 678 of your company’s business
7.7% increase in total revenues (includ- model. With the vaccination

ing other income) at Rs. 677.7-crore. Q3FY20 Q3FY21 9MFY20 9MFY21 Q3FY20 Q3FY21 9MFY20 9MFY21 drive gaining traction, open-

The strong performance was driven EBITDA^ PAT ing up of the economies with
by better sales volumes in both Perfor- +24.8% +33.3% greater consciousness about
mance Surfactants and Specialty Care 340 223 health and hygiene should
business and better sales mix. 43.3% 272 +78% 168 augur well for our perfor-
123 85 mance, masstige as well
EBITDA stood at Rs. 122.5-crore 86 48
for the quarter, a Y-o-Y growth of Q3FY20 Q3FY21 9MFY20 9MFY21 Q3FY20 Q3FY21 9MFY20 9MFY21 premium specialty products.
While demand continues to
43.3%, driven by increasing share ^Includes other Income Rs. In Crores remain robust, rising volati-
of specialty products, better product Commenting on the performance lity in raw material prices, and
mix due to new products and higher Mr. U. Shekhar, Managing Direc- supply chain disruptions pose the
capacity utilisation. PAT stood at tor, Galaxy Surfactants said, “This biggest risks in servicing this under-
Rs. 85.2-crore, a Y-o-Y growth of 77.6%
quarter also marks the first in FY21 lying demand. But, despite the chal-
The Board of Directors has de- where our Specialty Portfolio has lenges and none bigger than the one
clared interim dividend of Rs. 14 Per registered Y-o-Y growth, arresting seen this year, we remain confident
equity share of face value of Rs. 10 for the under-performance reported in and optimistic about our growth
the financial year 2020-21. the last few quarters. Demand conti- journey.”

NON-CORE ACTIVITY
Mawana Sugars to exit chlor-alkali business

Mawana Sugars, a part of the Sid- Mawana’s chlor-alkali unit lo- fer of the business of a company for
dharth Shriram Group, best known cated in Rajpura, Punjab has caustic a lump sum without assigning any
as the maker of Usha brand of fans soda lye capacity of 82,500-tpa with values to individual assets and liabi-
and sewing machines, is reportedly a provision to convert 33,000-tpa into lities of the entity. The proposed deal
selling its chlor-alkali operations to flakes. The plant is north India’s lar- will offer backward integration to the
Ahmedabad-based Bodal Chemicals gest chlor-alkali unit after Punjab Ahmedabad-based dyestuff player.
for Rs. 165-crore. The chlor-alkali ope- Alkalies and Chemicals Ltd. Bodal has 10 plants in the country,
rations form the chemicals business with nine located in Gujarat and one
of the New Delhi-based company Mawana has two integrated su- in Uttar Pradesh.
with sugar being its core business. gar plants located in Meerut, Uttar
Pradesh, a co-gen power plant and Bodal has been aggressive in
The proposed sale will mark the a 120-klpd distillery to produce etha- acquisitions over the last couple of
Siddharth Shriram Group’s exit from nol. With the current deal, Mawana years. In 2019, Bodal acquired 80%
the chlor-alkali business. Siddharth is seeking to focus on the sugar busi- stake in Turkey’s Sener Bova Kimya
Shriram’s first cousin Ajay Shriram, ness and to strengthen its balance Tekstil, a company involved in the
Chairman of DCM Shriram, is the sheet. business of dyestuff and other chemi-
second-largest player in chlor-alkali. cals. In 2017, the Ahmedabad-based
The market leader is Grasim, owned The chlor-alkali business is being firm bought Gujarat-based Trion
by industrialist Kumar Mangalam sold to Bodal Chemicals on a slump Chemicals, a producer of speciality
Birla. sale basis. Slump sale means a trans- chemicals for water treatment.
Home, Personal & Institutional Care India February 2021 11