Excel Industries Ltd

Excel Industries is engaged in manufacturing and selling of Chemicals, Pharma intermediates and Environmental products. Chemicals comprising of Industrial and Specialty chemicals and Pesticides Intermediates. Environmental products comprising of Soil Enricher, Bio - Pesticides and other Bio-products (E&BT). The Company caters to both domestic and international markets. The Company is also engaged in manufacturing activity on behalf of third parties.(Source : 201903 Annual Report Page No: 119)

  • Market Cap: 806.28 Cr.
  • Current Price: 641.40
  • 52 weeks High / Low 1041.25 / 374.50
  • Book Value: 573.87
  • Stock P/E: 7.09
  • Dividend Yield: 2.92 %
  • ROCE: 38.12 %
  • ROE: 24.96 %
  • Sales Growth (3Yrs): 22.54 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 5.00
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Pros:
Company is virtually debt free.
Stock is trading at 1.12 times its book value
Company has good consistent profit growth of 53.30% over 5 years
Company has been maintaining a healthy dividend payout of 24.78%
Cons:

Peer comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019
195 213 222 195 189 181 164
135 142 156 144 147 142 138
Operating Profit 60 71 66 51 42 39 27
OPM % 31% 34% 30% 26% 22% 22% 16%
Other Income 3 1 1 2 5 3 1
Interest 0 1 1 0 1 1 1
Depreciation 4 5 4 5 5 5 6
Profit before tax 58 67 62 48 41 37 21
Tax % 33% 34% 35% 36% 33% -7% 24%
Net Profit 39 44 40 30 27 40 16
EPS in Rs 31.05 34.99 31.98 24.06 21.80 31.74 12.91
Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
224 240 235 275 316 384 416 482 448 462 599 825 730
205 227 213 242 290 344 376 410 385 419 474 575 571
Operating Profit 19 13 22 33 25 40 39 72 63 44 125 250 159
OPM % 9% 5% 9% 12% 8% 10% 9% 15% 14% 9% 21% 30% 22%
Other Income 7 8 8 3 13 4 5 8 3 9 4 5 11
Interest 10 10 7 7 9 12 12 14 13 11 7 3 2
Depreciation 10 10 10 10 10 10 11 15 15 14 15 18 20
Profit before tax 6 1 13 20 19 22 21 51 38 27 107 234 147
Tax % 29% 60% 41% 30% 20% 32% 15% 19% 31% 26% 31% 34%
Net Profit 4 0 8 14 15 15 18 41 26 20 74 153 114
EPS in Rs 3.74 0.29 6.72 12.22 13.78 13.18 15.86 33.22 19.29 15.93 58.78 122.07 90.51
Dividend Payout % 26% 133% 28% 29% 14% 22% 23% 20% 22% 38% 21% 15%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.13%
5 Years:14.68%
3 Years:22.54%
TTM:37.78%
Compounded Profit Growth
10 Years:60.80%
5 Years:53.30%
3 Years:79.14%
TTM:106.49%
Stock Price CAGR
10 Years:24.22%
5 Years:17.59%
3 Years:22.18%
1 Year:-37.89%
Return on Equity
10 Years:16.16%
5 Years:17.96%
3 Years:17.80%
Last Year:24.96%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
5 5 5 5 5 5 5 6 6 6 6 6 6
Reserves 92 92 97 106 119 130 143 179 204 404 526 693 715
Borrowings 74 75 60 52 75 73 102 95 89 68 10 7 15
71 61 68 75 86 95 100 108 121 141 186 209 194
Total Liabilities 242 234 231 238 286 303 352 387 421 619 728 916 931
109 107 102 99 108 121 128 158 164 183 203 238 236
CWIP 3 1 3 1 6 5 20 3 3 8 23 12 42
Investments 14 13 12 18 18 22 22 23 27 211 282 394 395
117 114 113 121 155 156 181 204 227 216 220 272 258
Total Assets 242 234 231 238 286 303 352 387 421 619 728 916 931

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
9 1 22 26 15 27 13 44 46 31 119 135
-11 -3 -5 -14 -15 -25 -32 -27 -27 16 -45 -111
0 2 -16 -11 4 -4 20 -23 -17 -48 -73 -24
Net Cash Flow -1 0 1 1 4 -2 1 -6 1 -1 1 -0

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 9% 7% 12% 16% 12% 17% 15% 24% 18% 10% 22% 38%
Debtor Days 104 84 88 80 97 84 89 80 103 95 76 70
Inventory Turnover 3.54 3.64 3.25 3.53 3.91 4.46 5.25 4.12 3.58 3.96 4.67 5.40