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Galaxy Surfactants Q3 Review: Nirmal Bang Maintains 'Hold' On The Stock, Lowers Target Price — Here's Why
Nirmal Bang maintains 'Hold' after earnings revision and rolling forward valuation to Dec’26E with a revised target price of Rs 2,500 (earlier Rs 3,000) valued at 25xPE.
12 Feb 2025, 01:40 PM IST 
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Galaxy Surfactants’ revenue grew by 11% YoY wherein overall volumes declined by ~1% YoY.
(Source: Freepik)
While the management has maintained its overall volume guidance range of 6%-8% for the next 2 years, the performance surfactants segment grew by 0.5%, mainly driven by RoW markets and business from Egypt facilities.
