Robust volume growth subject to macroeconomic stability

23 Jan 2024
5 Min read 
  • Galaxy Surfactants is a leading player in the specialty chemicals sector, focused on the home and personal care industry.
  •  The company has experienced robust volume growth in the Indian market, with 9 out of 10 Indian consumers using their products.
  •  The company expects to achieve a volume growth of 6-8% in the future, with potential for 8-10% growth if macroeconomic conditions remain stable.
  •  The B2C segment, particularly in smaller markets, is growing at a faster rate and has the potential to contribute significantly to volume growth.
  •  The company has a strong focus on R&D and has introduced new products that contribute to overall revenue growth.
  •  The stock is currently trading at a P/E ratio of 28.6x and a P/BV ratio of 4.5x. The target price is INR3,760.
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