Galaxy Surfactants Limited — Investor Meet, 23-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Galaxy Surfactants' Q3 FY26 EBITDA climbed 13% YoY to INR124 Cr, driven by strong non-Tier 1 growth and Prestige specialty products. Specialty volumes saw high single-digit growth, balancing Performance Surfactants' decline. Key challenges included India's reformulation pressures, GST adjustments, and US tariffs. A major positive: US tariffs on Indian exports reduced from 50% to 18%, which is expected to restore competitiveness and boost North American specialty growth from late Q4. New sun care products are launching in Q4, holding higher EBITDA potential. Management is confident that "the worst is behind us," anticipating regained growth momentum from India's recovery and an improved specialty product mix.