Galaxy Surfactants is optimistic about market growth and sees promising signs in markets like Egypt. Despite this, India continues to be the best-performing market for the company. With specialty products contributing significantly to their revenues, Galaxy Surfactants is focused on growing volumes across all markets to strengthen its position in the industry. As the company's commitment to innovation and strategic expansion persists, it is poised to leverage emerging opportunities and maintain its upward trajectory in the global market.

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In an interview with CNBC-TV18, U Shekhar, Founder Promoter and MD of Galaxy Surfactants said that with the green shoots of growth in markets like Egypt and consistently excelling in India, the company demonstrates its ability to identify and capitalize on opportunities.

He said, “We are optimistic and buoyant about India, India continues to be a good robust growth story. We do see certain green shoots in Asia Pacific, as well as the Africa, Middle East region, though, Europe and USA remain weak spots.”

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“We would think that it (Egypt) has bottomed out, but we must look for the next one or two quarters before we can be fully confident that things have turned for the better. But we have seen the green shoots in the last quarter,” Shekhar added.

Talking about India, Shekhar said that India continues to be the best-performing market for the company. With its robust domestic demand, growing middle-class population, and expanding industries, India presents a strong foundation for Galaxy Surfactants' success. The company's ability to cater to the diverse needs of the Indian market and its adaptability to changing consumer preferences have contributed to its sustained growth in the country.

While highlighting the significance of the specialty products business, he said that the company derives one-third of its revenues from these high-value products. The focus on specialty products allows Galaxy Surfactants to differentiate itself in the market and cater to niche customer segments.

Galaxy Surfactants’ strategic focus is on growing volumes across all markets. By leveraging its extensive distribution network and strong customer relationships, the company aims to expand its footprint and capture a larger market share.

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The company recently concluded a challenging Q4 for FY23 that witnessed a notable dip in profit, EBITDA, and revenue. Adding to their concerns, the company also experienced a significant decline in specialty product volumes, indicating a slump in demand.

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(Edited by : C H Unnikrishnan)