Excel Industries Ltd

₹ 1,393 2.88%

17 Jul 3:31 p.m.

excelind.co.in BSE: 500650 NSE: EXCELINDUS

About

Excel Industries is engaged in manufacturing and selling of Chemicals, Pharma intermediates and Environmental products. ^[1]

Key Points

Market Position
The company is the No. 1 Producer of DETC (Diethylthiophosphoryl Chloride) and one of the Top 5 Producers of Phosphonates in the world. ^[1]

Website BSE NSE

Market Cap ₹ 1,751 Cr.
Current Price ₹ 1,393
High / Low ₹ 1,760 / 798
Stock P/E 20.6
Book Value ₹ 1,264
Dividend Yield 1.01 %
ROCE 7.61 %
ROE 5.66 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Stock is trading at 1.09 times its book value
Company has been maintaining a healthy dividend payout of 26.2%

Cons

The company has delivered a poor sales growth of 6.84% over past five years.
Company has a low return on equity of 4.43% over last 3 years.
Working capital days have increased from 85.7 days to 140 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

Part of BSE SmallCap BSE Allcap BSE Commodities

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	365	329	312	223	226	214	198	180	234	265	269	196	248
	298	274	279	195	215	207	195	179	221	226	220	184	228
Operating Profit	67	55	33	28	11	8	3	1	12	39	49	12	20
OPM %	18%	17%	10%	13%	5%	4%	1%	1%	5%	15%	18%	6%	8%
	1	3	6	2	3	9	7	11	5	11	8	5	6
Interest	0	0	1	0	0	1	0	1	0	1	1	0	0
Depreciation	8	8	8	8	8	9	8	8	8	8	9	9	9
Profit before tax	60	50	30	22	5	8	2	4	9	41	47	8	16
Tax %	25%	25%	25%	14%	57%	24%	9%	34%	25%	25%	24%	26%	24%
	45	37	22	19	2	6	2	3	7	31	36	6	12
EPS in Rs	35.63	29.47	17.53	14.86	1.72	4.68	1.42	2.13	5.31	24.68	28.38	4.93	9.87
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	416	482	448	462	599	825	702	749	1,178	1,090	826	978
	376	409	385	419	474	574	571	628	946	961	801	859
Operating Profit	40	72	63	44	125	250	131	122	232	129	25	119
OPM %	10%	15%	14%	9%	21%	30%	19%	16%	20%	12%	3%	12%
	5	7	3	9	4	5	10	9	15	12	32	30
Interest	12	14	13	11	7	3	4	3	3	3	3	2
Depreciation	11	15	15	14	15	18	23	27	31	31	31	34
Profit before tax	21	51	38	27	107	234	115	101	213	106	23	113
Tax %	15%	19%	31%	26%	31%	34%	16%	29%	24%	24%	25%	24%
	18	41	26	20	74	153	96	71	161	80	17	85
EPS in Rs	16.50	34.59	20.18	15.93	58.78	122.07	76.42	56.55	128.23	63.59	13.53	67.86
Dividend Payout %	23%	20%	22%	38%	21%	15%	13%	20%	18%	18%	41%	20%

Compounded Sales Growth
10 Years:	7%
5 Years:	7%
3 Years:	-6%
TTM:	18%

Compounded Profit Growth
10 Years:	8%
5 Years:	-2%
3 Years:	-19%
TTM:	541%

Stock Price CAGR
10 Years:	16%
5 Years:	13%
3 Years:	4%
1 Year:	17%

Return on Equity
10 Years:	10%
5 Years:	7%
3 Years:	4%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5	6	6	6	6	6	6	6	6	6	6	6
Reserves	147	180	204	404	526	693	695	845	1,143	1,235	1,421	1,582
	102	95	89	68	10	7	24	9	7	3	2	12
	97	106	121	141	186	209	212	251	330	248	367	319
Total Liabilities	352	387	421	619	728	916	937	1,111	1,487	1,493	1,795	1,920
	128	158	164	183	203	238	376	389	427	428	428	463
CWIP	20	3	3	8	23	12	10	17	21	19	19	8
Investments	22	23	27	211	282	394	264	365	547	625	962	1,085
	181	204	227	216	220	272	287	340	492	421	388	364
Total Assets	352	387	421	619	728	916	937	1,111	1,487	1,493	1,795	1,920

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	13	44	46	31	119	135	110	91	109	125	72	62
	-32	-27	-27	16	-45	-111	-61	-53	-104	-118	-51	-41
	20	-23	-17	-48	-73	-24	-31	-17	-17	-35	-17	-16
Net Cash Flow	1	-6	1	-1	1	-0	17	21	-12	-27	4	4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	89	80	103	95	76	70	78	84	62	52	82	81
Inventory Days	74	103	99	86	79	75	90	71	103	78	80	68
Days Payable	81	84	112	98	123	108	122	126	112	64	139	99
Cash Conversion Cycle	82	99	90	83	32	36	46	29	52	67	23	50
Working Capital Days	77	74	82	82	54	60	61	54	62	61	57	140
ROCE %	15%	24%	18%	10%	22%	38%	17%	13%	21%	9%	2%	8%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	52.60%	52.59%	52.59%	52.59%	52.60%	52.60%	52.60%	52.60%	52.58%	52.56%	52.57%	52.66%
	0.63%	0.77%	0.77%	0.85%	0.74%	0.70%	0.66%	0.56%	0.89%	1.56%	2.17%	2.05%
	7.24%	7.24%	7.22%	6.99%	6.99%	6.97%	6.97%	6.97%	6.97%	6.97%	7.00%	6.98%
	39.52%	39.39%	39.40%	39.55%	39.68%	39.72%	39.75%	39.86%	39.56%	38.91%	38.26%	38.32%
No. of Shareholders	26,636	25,676	25,034	25,044	25,925	26,202	26,612	26,725	24,063	22,979	22,448	22,820

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	52.38%	52.38%	52.38%	52.80%	52.80%	52.49%	52.59%	52.60%	52.66%
	0.00%	0.15%	0.82%	0.26%	0.19%	0.41%	0.85%	0.56%	2.05%
	7.73%	7.74%	7.79%	7.31%	7.27%	7.35%	6.99%	6.97%	6.98%
	39.89%	39.72%	39.02%	39.63%	39.74%	39.75%	39.55%	39.86%	38.32%
No. of Shareholders	13,271	12,992	17,236	18,768	22,498	25,969	25,044	26,725	22,820

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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