Excel Industries Ltd

₹ 928 3.65%

24 Apr - close price

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

Products
Agrochemical intermediates: Used as intermediates in the manufacturing of various insecticides and herbicides.
Speciality Chemicals: Specialty and performance chemicals such as Phosphonates, Biocides, and Mining chemicals.
Polymer Inputs: These are used as cross-linking or branching agents for polymers like Polycarbonates, Epoxy, Polyesters, and similar systems.
Pharma APIs: APIs used in antidiabetic and anti-gout therapeutic applications. It also manufactures veterinary APIs which are used as animal feed supplements. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 1,167 Cr.
Current Price ₹ 928
High / Low ₹ 1,018 / 699
Stock P/E 93.3
Book Value ₹ 1,105
Dividend Yield 1.21 %
ROCE 9.13 %
ROE 6.71 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.84 times its book value
Company has been maintaining a healthy dividend payout of 18.4%
Debtor days have improved from 66.1 to 52.4 days.

Cons

Company has a low return on equity of 10.5% over last 3 years.
Earnings include an other income of Rs.30.7 Cr.

* 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

Sector: Agro Chemicals Industry: Pesticides / Agrochemicals - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	213.58	218.68	231.91	230.92	350.52	364.67	328.81	311.95	222.97	226.09	214.28	198.04	180.28
	173.94	180.03	199.39	202.50	247.82	297.90	273.65	279.37	194.98	215.39	206.53	195.46	178.91
Operating Profit	39.64	38.65	32.52	28.42	102.70	66.77	55.16	32.58	27.99	10.70	7.75	2.58	1.37
OPM %	18.56%	17.67%	14.02%	12.31%	29.30%	18.31%	16.78%	10.44%	12.55%	4.73%	3.62%	1.30%	0.76%
	2.90	1.12	4.01	2.28	8.13	1.22	2.62	5.75	1.91	2.59	9.38	7.42	11.31
Interest	0.49	0.43	0.60	0.47	0.43	0.44	0.50	0.92	0.36	0.39	0.58	0.26	0.74
Depreciation	6.83	6.95	7.21	7.50	8.21	7.74	7.77	7.91	7.85	7.84	8.84	7.78	7.85
Profit before tax	35.22	32.39	28.72	22.73	102.19	59.81	49.51	29.50	21.69	5.06	7.71	1.96	4.09
Tax %	25.78%	37.94%	25.42%	24.59%	23.82%	25.11%	25.19%	25.29%	13.88%	57.31%	23.74%	8.67%	34.47%
	26.15	20.10	21.43	17.14	77.85	44.79	37.05	22.04	18.68	2.16	5.88	1.79	2.68
EPS in Rs	20.80	15.99	17.05	13.63	61.93	35.63	29.47	17.53	14.86	1.72	4.68	1.42	2.13
Raw PDF

Upcoming result date: 24 May 2024

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	316	384	416	482	448	462	599	825	702	749	1,178	1,090	819
	297	344	376	409	385	419	474	574	571	628	946	961	796
Operating Profit	18	40	40	72	63	44	125	250	131	122	232	129	22
OPM %	6%	10%	10%	15%	14%	9%	21%	30%	19%	16%	20%	12%	3%
	20	4	5	7	3	9	4	5	10	9	15	12	31
Interest	9	12	12	14	13	11	7	3	4	3	3	3	2
Depreciation	10	10	11	15	15	14	15	18	23	27	31	31	32
Profit before tax	19	22	21	51	38	27	107	234	115	101	213	106	19
Tax %	20%	32%	15%	19%	31%	26%	31%	34%	16%	29%	24%	24%
	15	15	18	41	26	20	74	153	96	71	161	80	13
EPS in Rs	14.09	13.69	16.50	34.59	20.18	15.93	58.78	122.07	76.42	56.55	128.23	63.59	9.95
Dividend Payout %	14%	22%	23%	20%	22%	38%	21%	15%	13%	20%	18%	18%

Compounded Sales Growth
10 Years:	11%
5 Years:	13%
3 Years:	16%
TTM:	-33%

Compounded Profit Growth
10 Years:	18%
5 Years:	2%
3 Years:	-6%
TTM:	-90%

Stock Price CAGR
10 Years:	28%
5 Years:	-3%
3 Years:	5%
1 Year:	6%

Return on Equity
10 Years:	13%
5 Years:	13%
3 Years:	10%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	5	5	5	6	6	6	6	6	6	6	6	6	6
Reserves	119	130	143	179	204	404	526	693	695	845	1,143	1,235	1,383
	75	73	102	95	89	68	10	7	24	9	7	3	2
	86	95	100	108	121	141	186	209	212	251	330	248	289
Total Liabilities	286	303	352	387	421	619	728	916	937	1,111	1,487	1,493	1,680
	108	121	128	158	164	183	203	238	376	389	427	428	413
CWIP	6	5	20	3	3	8	23	12	10	17	21	19	27
Investments	18	22	22	23	27	211	282	394	264	365	547	625	947
	155	156	181	204	227	216	220	272	287	340	492	421	293
Total Assets	286	303	352	387	421	619	728	916	937	1,111	1,487	1,493	1,680

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	15	27	13	44	46	31	119	135	110	91	109	125
	-15	-25	-32	-27	-27	16	-45	-111	-61	-53	-104	-118
	4	-4	20	-23	-17	-48	-73	-24	-31	-17	-17	-35
Net Cash Flow	4	-2	1	-6	1	-1	1	-0	17	21	-12	-27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	97	84	89	80	103	95	76	70	78	84	62	52
Inventory Days	103	77	74	103	99	86	79	75	90	71	103	78
Days Payable	98	91	81	84	112	98	123	108	122	126	112	64
Cash Conversion Cycle	102	71	82	99	90	83	32	36	46	29	52	67
Working Capital Days	75	65	77	74	82	82	54	60	61	54	62	61
ROCE %	12%	17%	15%	24%	18%	10%	22%	38%	17%	13%	21%	9%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	52.77%	52.49%	52.49%	52.49%	52.60%	52.59%	52.59%	52.59%	52.60%	52.60%	52.60%	52.60%
	0.21%	0.24%	0.27%	0.41%	0.63%	0.77%	0.77%	0.85%	0.74%	0.70%	0.66%	0.56%
	7.45%	7.39%	7.35%	7.35%	7.24%	7.24%	7.22%	6.99%	6.99%	6.97%	6.97%	6.97%
	39.57%	39.88%	39.88%	39.75%	39.52%	39.39%	39.40%	39.55%	39.68%	39.72%	39.75%	39.86%
No. of Shareholders	25,590	26,745	25,566	25,969	26,636	25,676	25,034	25,044	25,925	26,202	26,612	26,725

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

* 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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