Galaxy Surfactants Limited (GALAXYSURF.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-9.4%

₹2,037.82

vs ₹2,249.40 price

Levered DCF

₹2,402.94

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	20.08×	24.32×	27.64×	21.68×	38.65×	29.88×	18.13×	19.83×
P/B	1.96×	3.14×	3.82×	4.39×	6.45×	6.94×	3.91×	4.32×
P/S	1.02×	1.76×	2.21×	1.86×	2.78×	3.29×	1.63×	1.39×
EV / EBITDA	11.32×	15.35×	16.68×	14.54×	25.59×	20.17×	12.15×	11.34×
Gross margin	16.8%	31.7%	30.8%	29.6%	28.6%	34.8%	20.6%	18.1%
Operating margin	6.7%	24.5%	9.1%	10.3%	9.0%	13.9%	12.0%	11.1%
Net margin	5.1%	7.2%	8.0%	8.6%	7.2%	11.0%	9.0%	7.0%
Current ratio	2.4×	2.14×	2.82×	2.36×	1.81×	1.87×	1.64×	1.61×
Debt / equity	0.09×	0.09×	0.09×	0.17×	0.27×	0.22×	0.37×	0.34×
Interest coverage	11.42×	53.79×	15.26×	21.14×	25.72×	28.5×	12.89×	10.07×
Dividend yield	0.4%	1.8%	0.2%	1.5%	0.1%	0.5%	2.2%	0.8%
Payout ratio	7.9%	44.3%	4.7%	33.5%	5.4%	16.4%	40.8%	15.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.7%	12.9%	13.8%	20.2%	16.7%	23.2%	21.6%	21.8%
Return on invested capital	9.4%	31.7%	11.4%	16.5%	13.0%	19.1%	16.3%	17.1%
Return on assets	6.9%	8.8%	10.3%	13.9%	10.1%	14.7%	12.7%	12.2%
Free cash flow yield	3.4%	3.2%	4.3%	5.2%	-1.5%	2.9%	4.2%	3.0%
Earnings yield	5.0%	4.1%	3.6%	4.6%	2.6%	3.3%	5.5%	5.0%
Enterprise value	₹55B	₹74.3B	₹83B	₹83.5B	₹105.1B	₹92.4B	₹45.3B	₹40.6B
Net debt / EBITDA	0.26×	0.03×	-0.07×	0.17×	0.87×	0.45×	0.93×	0.76×
Cash conversion cycle (days)	65	74	73	76	91	74	72	64