Galaxy Surfactants Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Growth

Q3 FY26India specialty volume growth to remain double-digitActive

Management expects double-digit volume growth in the specialty segment in India, supported by new product launches and customer approvals.

Q3 FY26US specialty pipeline projects to restart from late Q4Active

With tariff reduction, customer projects put on hold are expected to resume, contributing from late Q4 FY26 and Q1 FY27.

Q4 FY26Q1 FY27 volume growth at higher end of 6-8%Active

Management expects Q1 FY27 volume growth to be at the higher end of the 6-8% range, driven by India recovery, US revival, and AMET supply normalization.

Q4 FY26India volume growth of 8-10% possible if demand holdsTracked

India could return to 8-10% volume growth if monsoon and energy prices do not impact demand, but management remains cautious.

Revenue

Q3 FY26New reformulation products to commercialize in Q4 FY26Active

Alternate formulations for key tier-1 customers are under approval and expected to start commercialization in Q4 FY26.

Other

Q3 FY26Fatty alcohol prices expected to correct from May 2026Tracked

Management expects fatty alcohol prices to start correcting from May onwards due to seasonal palm production increases.

Margins

Q4 FY26Q1 FY27 EBITDA per metric ton at higher end of ₹19,000-21,000Active

EBITDA per metric ton for Q1 FY27 is expected at the higher end of the ₹19,000-21,000 range, supported by volume growth and mix improvement.

Capex

Q4 FY26No new growth capex in FY27Tracked

Management indicated no new growth capex commitments for FY27 beyond capitalizing work-in-progress and routine replacement capacities.