Galaxy Surfactants Shares Fall The Most In Over Two Years After Q4 Profit Decline
The company's profit after tax fell 8% year-on-year and 14.8% sequentially to Rs 90.5 crore in the quarter ended March.
Shares of Galaxy Surfactants Ltd. fell over 6% before paring losses on Wednesday after its profit declined in the fourth quarter.
The company's profit after tax fell 8% year-on-year and 14.8% sequentially to Rs 90.5 crore in the quarter ended March, according to an exchange filing.
Q4 FY23 Performance (YoY)
Revenue declined 6.9% to Rs 981.5 crore.
Ebitda was at Rs 141.5 crore versus Rs 146.2 crore.
Ebitda margin rose 14.4% from 13.9% a year ago but was lower than 14.6% in Q3 FY23.
Net profit fell 8% to Rs 90.5 crore.
"The geopolitical headwinds and the strengthening dollar did impact consumption in Europe, Africa, the Middle East, and Turkey, but with the situation slowly but steadily improving on the ground, we see growth in these markets in the coming quarters," said U Shekhar, managing director at Galaxy Surfactants, in the filing.
Shares of Galaxy Surfacants fell 2.88% to Rs 2,518.6 apiece as of 10:52 a.m. on Wednesday, compared to a 0.16% rise in the benchmark Nifty 50. The stock fell as much as 6.66% intraday, falling the most since Aug. 31, 2020.
Total traded volume so far in the day stood at 4.4 times its 30-day average.
Out of the 12 analysts tracking the company, nine maintain a 'buy' and three recommend a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 13.6%.
