Galaxy Surfactants

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Galaxy Surfactants
Company type Public
BSE:  540935
NSE:  GALAXYSURF
Industry Chemicals
Founded1980;44 years ago (1980)
Headquarters
Mumbai, Maharashtra
,
India
Key people
Unnathan Shekhar (MD)
K. Ganesh Kamath (CFO)
K. Natarajan (COO)
Products Speciality chemicals, surfactants,
RevenueIncrease2.svg₹4,455 crore (US$560 million) (FY23) [1]
Increase2.svg₹380 crore (US$48 million) (FY23) [1]
Website www.galaxysurfactants.com

Galaxy Surfactants Ltd. is an Indian multinational specialty chemical company based in Mumbai, Maharashtra, India. It is a manufacturer of surfactants and speciality chemicals for cleaning and personal care space and its more than 200 products are exported to over 100 countries. Galaxy has over 1400 clients including L'Oréal, Unilever, Colgate-Palmolive, Dabur, Himalaya, and more. Performance surfactants account for 60% of revenue and specialty personal care products account for the rest. [2]

Contents

Galaxy is considered a power-player in the global surfactants market. [3] In 2020, the annual turnover was ₹2,563 crore. [4] According to Unnathan Shekhar, managing director of Galaxy Surfactants, two-thirds of their business comes from international customers. [4] [5] In 2020, the company spent nearly ₹60 crore and filed for 62 patents. [6]

History

The company was founded in 1980 by Unnathan Shekhar, Geera Ramakrishnan, Shashi Shanbhag, CR Ramakrishna, and Sudhir Patil; five friends, all aged 23, who all came from different backgrounds. [7] They began their company as contract manufacturers for Colgate-Palmolive, producing Sodium laureth sulfate in a small lab in Ghatkopar. [4] [8]

In 1984, Galaxy opened its first plant at Tarapur and second plant for sulfonation was opened in Taloja in 1998. Galaxy also started a research centre at Navi Mumbai in 1997. [9]

In July 2009, Galaxy acquired TRI‐K Industries, a distributor and producer of specialty ingredients. [10] This acquisition of a 30 year old New Jersey headquartered company gave the company a foothold in the United States with additional protein manufacturing facilities in New Hampshire. [11]

In 2011, Galaxy commissioned manufacturing plants at Zaghadia in Gujarat and Suez in Egypt at the cost of ₹330 crore. [12] [13]

In 2012, Galaxy became a member of Roundtable on Sustainable Palm Oil, taking a step towards creating a sustainable palm oil supply chain. [14] [15]

In 2018, Galaxy floated their IPO and was listed on the Indian stock exchanges (BSE & NSE). [16] [17] [18]

Financials

It registered ₹2627.38 crores total income in the fiscal year 2022, while ₹1834.90 crores in 2021. [19] The company reported a turnover of ₹2,563 crore in the financial year 2020.

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References

  1. 1 2 "Galaxy Surfactants Ltd Q4 FY23 consolidated net profit lower at Rs. 90.53 crores". EquityBulls. 23 May 2023. Retrieved 8 July 2023.
  2. ↑ Tewari, Maulik (17 April 2021). "Why you should accumulate the stock of Galaxy Surfactants". Business Line . Retrieved 26 February 2022.
  3. ↑ Jauhari, Ujjval (18 November 2021). "Galaxy Surfactants in focus as supply challenges hit specialty chemical makers". mint . Retrieved 26 February 2022.
  4. 1 2 3 Kaushal, Bhavya (21 November 2020). "Started by five friends in the 80s, this Mumbai-based surfactant company now clocks Rs 2,563 crore annual turnover". Your Story. Archived from the original on 26 February 2022. Retrieved 26 February 2022.
  5. ↑ "Galaxy Surfactants will have a Capex outlay of Rs 150-200 crore every year: U Shekhar, MD". Zee Business . 15 November 2021. Retrieved 26 February 2022.
  6. ↑ Prashant, Pravin (25 August 2020). "Galaxy Surfactants bags 62 patents". Indian Chemical News. Retrieved 26 February 2022.
  7. ↑ Mishra, Lalatendu (29 December 2018). "Mumbai-based Galaxy Surfactants makes difference in green process innovation". The Hindu . Retrieved 26 February 2022.
  8. ↑ "History of Galaxy Surfactants Ltd., Company". Goodreturn. Retrieved 26 February 2022.
  9. ↑ "Our Journey over the years". www.galaxysurfactants.com. Retrieved 26 February 2022.
  10. ↑ "Galaxy Surfactants acquires majority stakes in TRI-K and OTC". Cosmetics Business. 10 July 2009.
  11. ↑ "Galaxy Surfactants Acquires TRI-K Industries". HAPPI Magazine. 10 July 2009. Retrieved 26 February 2022.
  12. ↑ "Galaxy to commission Jhagadia, Suez plant in August". www.projectstoday.com. 13 May 2011. Retrieved 26 February 2022.
  13. ↑ "Disclosure: Galaxy Chemicals". disclosures.ifc.org. Retrieved 26 February 2022.
  14. ↑ "Galaxy Surfactants: putting sustainable palm oil at the heart of the business". ISEAL Alliance. 2016. Retrieved 26 February 2022.
  15. ↑ Fink, Hannah (7 December 2020). "Galaxy Surfactants Marks 10 Years of Sustainability by Highlighting its Business Benefits". Cosmetics & Toiletries . Retrieved 26 February 2022.
  16. ↑ Shyam, Ashutosh (29 January 2018). "Galaxy Surfactants IPO could bring windfall for existing investors, staff". The Economic Times . Retrieved 26 February 2022.
  17. ↑ Sarkar, Soumeet (29 January 2018). "Galaxy Surfactants' IPO Opens Today: All You Need To Know". BloombergQuint . Retrieved 26 February 2022.
  18. ↑ "Galaxy Surfactants IPO fully subscribed on Day 1". The Economic Times. 29 January 2018. Retrieved 26 February 2022.
  19. ↑ "Galaxy Surfacta. Profit and Loss". The Economic Times. 30 August 2022.
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