Rs 22/Share Dividend Recommended: Chemicals Firm Reports 29.4% Dip In PAT

Mid cap company operating in chemicals sector, Galaxy Surfactants Ltd today declared a decline of 29.4% YoY in its profit after tax (PAT) for the quarter ended March 31, 2024 to Rs 42.02 crore as against Rs 59.52 crore declared in the corresponding quarter of last year. The Board of Directors of the company recommended a final dividend of Rs 22/- per equity share of Rs 10/- each for the FY 2023-24. Galaxy Surfactants shares gained 2.26% in last 1-week and declined 2% in last 1-year. Its market capitalisation is Rs 9062.94 crore. More details below:

Galaxy Surfactants Recommends Dividend: The Board of Directors of the company issued a BSE filing stating, "recommended final dividend of Rs.22/- per equity share of face value of Rs. 10/- each for Financial year 2023-2024."
The company has decided to hold its annual general meeting (AGM) on August 7, 2024.

Galaxy Surfactants Financial Results: The company declared its revenue from operations for March 2024 quarter at Rs 705.74 crore, up 3.39% as against Rs 682.57 crore declared in the similar quarter of last year. Total income of Galaxy Surfactants came at Rs 710.10 crore, up 3.62% as compared to Rs 685.28 crore declared in the same quarter of last fiscal. Galaxy Surfactants announced its total expenses at Rs 653.87 crore for the quarter under review from Rs 604.99 crore reported in March 2023 quarter.

For the whole year, Galaxy Surfactants declared its profit after tax at Rs 200.34 crore for March 2024 as against Rs 214.01 crore in March 2023. Total income for the whole year declared at Rs 2769.22 crore for March 2024 from Rs 3172 crore in March 2023.

Galaxy Surfactants Gives Details About Incorporation of Subsidiaries: The Board of the company approved formation of two new overseas subsidiaries. As per the BSE filing, "Board has approved setting up of two subsidiaries in North America/Latin America. Names to be finalised as per the name availability and other regulatory requirements. Authorised Capital will be upto USD 1,000,000 or equivalent. Galaxy Surfactants Limited would be the sole shareholder in the proposed subsidiaries to the extent of 100% paid up capital."

Galaxy Surfactants Share Performance: The 52-week high price of Galaxy Surfactants share on BSE is Rs 2989.35 per share (as on 15/06/2023) and 52-week low price is Rs 2241.10 (as on 15/03/2024). Galaxy Surfactants shares gave return of 1.20% in last 3-months, declined 7.89% year-to-date, fell over 12% in last 2-years, and soared 142% in last 5-years.

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