Excel Industries Ltd.

•

excelind.co.inBSE: 500650NSE: EXCELINDUS

Market Cap₹ 1,301 Cr.

Current Price

High / Low₹ 1,210 / 800

Stock P/E18.9

Book Value₹ 995

Price to Book1.03

Dividend Yield1.33 %

ROCE10.2 %

ROE7.4 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Chemicals: 99.0% • Environment: 1.0%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.60x)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 24.2% versus prior year
Company has a low return on equity of 5.7% over last 3 years
Company has a low return on capital employed of 7.8%
Company has delivered a poor profit growth of -2.2% over past five years
Operating margins have contracted to 12.4% from 20.9%
Company has delivered a poor sales growth of 6.8% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsPesticides & Agrochemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	UPL	580.05	24.24	48966.04	1.03	-73.00	58.52	10181.00	10.47	12.00	13.43
2.	PIIND	2390.00	31.12	36260.63	0.63	244.20	-38.95	1702.30	-10.43	16.00	21.69
3.	SUMICHEM	498.70	42.96	24892.40	0.26	214.51	20.45	1063.35	0.62	23.39	21.94
4.	BAYERCROP	3955.50	320.83	17776.84	3.79	321.60	15.39	1835.00	-4.16	30.08	20.03
5.	SHARDACROP	772.70	11.13	6971.34	1.94	88.02	-38.36	1073.77	9.03	31.10	17.32
6.	DHANUKA	1006.75	15.11	4487.92	0.20	75.50	27.94	442.02	20.01	24.44	24.83
7.	RALLIS	209.90	24.86	4081.90	1.43	-14.15	-274.26	507.54	7.70	13.23	-0.56
8.	NACLIND	166.60	315.48	3902.49	0.00	208.40	1498.16	3833.30	754.96	6.20	10.80
9.	BHAGCHEM	267.00	125.79	3462.16	0.06	13.33	234.98	195.02	57.55	4.55	15.65
10.	GSPCROP	626.15	29.75	2912.77	0.16	263.94	1111.46	3859.95	1153.27	18.46	11.02
11.	BHARATRAS	1185.00	13.75	1969.60	0.04	372.30	838.73	3381.60	796.03	16.63	15.19
12.	EXCELINDUS	1035.00	18.23	1301.07	1.33	29.47	-12.71	293.83	-5.07	7.73	14.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	214	198	180	234	265	269	196	248	309	270	233	281	294
	206	195	179	221	226	220	184	228	267	240	218	259	261
Operating Profit	8	3	2	13	39	49	12	20	42	30	16	22	32
OPM %	3.64%	1.35%	0.98%	5.52%	14.78%	18.32%	6.28%	8.00%	13.68%	11.14%	6.82%	7.84%	11.00%
	9	4	11	5	11	6	5	4	12	4	5	3	6
Interest	1	0	1	0	1	1	0	0	1	1	0	0	1
Depreciation	9	8	8	8	8	9	8	9	9	9	9	10	10
Profit before Tax	7	-1	4	10	42	45	9	15	44	25	11	15	38
Tax %	24.29%	33.67%	32.94%	23.38%	24.36%	24.48%	26.13%	25.59%	24.14%	23.68%	25.20%	15.94%	24.35%
Net Profit	6	-1	3	7	31	34	6	11	34	19	8	13	29
	4.46	-0.51	2.26	5.81	25.04	27.24	5.09	9.05	26.70	14.90	6.68	10.11	23.16

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	435	446	582	825	702	749	1,178	1,090	826	978	1,078
	373	402	458	576	572	628	946	963	802	856	978
Operating Profit	62	43	124	249	130	122	232	127	24	122	100
OPM %	14.16%	9.70%	21.28%	30.20%	18.52%	16.23%	19.66%	11.63%	2.93%	12.43%	9.31%
	3	10	4	5	9	8	14	12	30	27	18
Interest	13	11	7	3	4	3	3	3	3	4	2
Depreciation	15	14	15	18	23	27	31	31	31	34	37
Profit before Tax	37	28	106	233	112	100	212	104	20	111	89
Tax %	31.11%	24.37%	31.26%	34.67%	16.69%	29.60%	24.49%	24.53%	25.19%	24.71%	22.85%
Net Profit	25	21	73	152	93	70	160	78	15	83	69
EPS	20.05	16.48	57.71	120.97	74.36	55.84	127.41	62.41	12.02	66.42	—
Dividend Payout %	22.83%	35.69%	21.51%	15.50%	13.45%	20.15%	17.66%	18.03%	45.77%	20.70%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 7%
3 Years:: -6%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: -2%
3 Years:: -20%

STOCK PRICE CAGR

10 Years:: 12%
5 Years:: -1%
3 Years:: 3%
1 Year:: -13%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 9%
3 Years:: 6%
Last Year:: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6	6	6	6	6	6	6	6	6	6
	201	352	434	584	595	710	926	985	1,069	1,171
	87	68	10	7	33	8	7	3	2	2
Trade Payables	71	61	85	98	105	123	180	107	185	137
	53	71	82	83	84	106	112	124	149	145
Total Liabilities	418	559	618	779	823	953	1,232	1,225	1,412	1,461
	164	179	198	233	375	388	426	427	423	439
Capital Work in Progress	3	8	23	12	9	17	21	19	18	8
	14	152	175	261	156	209	295	359	606	635
	63	52	53	66	78	69	165	131	106	94
	0	0	0	0	0	0	0	0	185	216
Cash & Bank	4	4	2	4	18	52	66	86	12	13
	170	163	166	203	187	219	258	202	62	56
Total Assets	418	559	618	779	823	953	1,232	1,225	1,412	1,461

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	60	47	146	212	137	113	158	156	93	63
Cash from Investing	-27	12	-48	-109	-65	-48	-106	-117	-72	-46
Cash from Financing	-17	-48	-74	-24	-31	-17	-17	-35	-17	-16
	1	-1	-2	2	14	25	-14	-25	4	2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	19.72	16.81	58.13	120.97	74.36	55.84	127.41	62.41	12.02	66.42
Book Value (₹)	160.44	284.93	350.35	469.75	478.22	569.47	741.99	788.92	855.74	936.46
Dividend per Share (₹)	4.50	6.00	12.50	18.75	10.00	11.25	22.50	11.25	5.50	13.75
Cash EPS (₹)	31.24	27.88	70.01	135.39	92.48	77.44	151.79	87.36	37.02	93.30
PROFITABILITY
Operating Margin %	13.50%	10.88%	21.56%	30.80%	19.69%	17.29%	20.85%	12.71%	2.92%	12.43%
Net Margin %	5.34%	4.34%	12.29%	18.42%	13.26%	9.34%	13.59%	7.19%	1.82%	8.54%
ROE %	13.09%	7.48%	18.30%	29.50%	15.69%	10.66%	19.43%	8.15%	1.46%	7.41%
ROCE %	17.22%	10.82%	25.84%	45.08%	19.02%	15.28%	25.92%	11.12%	2.24%	10.16%
	6.34%	4.33%	12.42%	21.78%	11.67%	7.90%	14.66%	6.39%	1.15%	5.81%
EFFICIENCY
Debtor Days	89	91	72	60	79	78	58	59	75	75
Inventory Days	50	43	32	26	37	36	36	50	52	37
Payable Days	107	106	105	100	118	117	94	86	109	120
	32	28	-1	-13	-2	-3	0	24	18	-8
FINANCIAL HEALTH
Debt to Equity (x)	0.43x	0.19x	0.02x	0.01x	0.04x	0.01x	0.01x	0.00x	0.00x	0.00x
Interest Coverage (x)	3.94x	3.51x	16.28x	68.80x	30.58x	34.02x	70.31x	31.64x	7.82x	32.08x
	1.22x	1.38x	1.72x	2.69x	1.81x	2.04x	2.34x	3.59x	2.56x	3.14x
GROWTH
Revenue Growth %	-9.76%	2.56%	30.54%	41.80%	-14.85%	6.69%	57.18%	-7.49%	-24.19%	18.39%
Operating Profit Growth %	-18.51%	-17.61%	141.81%	98.38%	-45.43%	-6.42%	89.27%	-43.57%	-60.65%	171.63%
Net Profit Growth %	-37.28%	-16.94%	245.74%	108.12%	-38.53%	-24.91%	128.18%	-51.02%	-80.74%	452.71%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-80.74%	452.71%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	58.98x	14.59x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.83x	1.03x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.78%	1.42%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.11x	8.13x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.58	52.57	52.57	52.66	52.68	52.68	52.69	52.69	51.86
	0.89	1.56	2.17	2.05	2.08	2.01	2.01	1.94	1.85
	6.97	6.97	6.74	6.72	6.72	6.80	6.81	6.81	6.82
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	39.56	38.90	38.52	38.58	38.53	38.52	38.50	38.56	39.47

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Excel Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

General Updates

2026-08-31 - Excel Industries Limited has informed the Exchange about Business Responsibility and Sustainability Report

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Excel Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Investor Presentation

2026-08-17 - Excel Industries Limited has informed the Exchange about Investor Presentation

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Excel Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Record Date

2026-08-13 - Excel Industries Limited has informed the Exchange that Record date for the purpose of Dividend is 17-Sep-2026.

2026-08-13

Shareholders meeting

2026-08-13 - Excel Industries Limited has informed the Exchange regarding Intimation of Annual General Meeting to be held on September 24, 2026

2026-08-13

Outcome of Board Meeting

2026-08-13 - Excel Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-31

Trading Window

2026-07-31 - Excel Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

News

Recent coverage and analyst commentary for EXCELINDUS

Loading news…

🤖

AI Stock Analyst

Excel Industries Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

UPL

580.05

24.24

48966.04

1.03

-73.00

58.52

10181.00

10.47

12.00

13.43

PIIND

2390.00

31.12

36260.63

0.63

244.20

-38.95

1702.30

-10.43

16.00

21.69

SUMICHEM

498.70

42.96

24892.40

0.26

214.51

20.45

1063.35

0.62

23.39

21.94

BAYERCROP

3955.50

320.83

17776.84

3.79

321.60

15.39

1835.00

-4.16

30.08

20.03

SHARDACROP

772.70

11.13

6971.34

1.94

88.02

-38.36

1073.77

9.03

31.10

17.32

DHANUKA

1006.75

15.11

4487.92

0.20

75.50

27.94

442.02

20.01

24.44

24.83

RALLIS

209.90

24.86

4081.90

1.43

-14.15

-274.26

507.54

7.70

13.23

-0.56

NACLIND

166.60

315.48

3902.49

0.00

208.40

1498.16

3833.30

754.96

6.20

10.80

BHAGCHEM

267.00

125.79

3462.16

0.06

13.33

234.98

195.02

57.55

4.55

15.65

GSPCROP

626.15

29.75

2912.77

0.16

263.94

1111.46

3859.95

1153.27

18.46

11.02

BHARATRAS

1185.00

13.75

1969.60

0.04

372.30

838.73

3381.60

796.03

16.63

15.19

EXCELINDUS

1035.00

18.23

1301.07

1.33

29.47

-12.71

293.83

-5.07

7.73

14.43

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

214

198

180

234

265

269

196

248

309

270

233

281

294

206

195

179

221

226

220

184

228

267

240

218

259

261

Operating Profit

OPM %

3.64%

1.35%

0.98%

5.52%

14.78%

18.32%

6.28%

8.00%

13.68%

11.14%

6.82%

7.84%

11.00%

Interest

Depreciation

Profit before Tax

-1

Tax %

24.29%

33.67%

32.94%

23.38%

24.36%

24.48%

26.13%

25.59%

24.14%

23.68%

25.20%

15.94%

24.35%

Net Profit

-1

4.46

-0.51

2.26

5.81

25.04

27.24

5.09

9.05

26.70

14.90

6.68

10.11

23.16

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

435

446

582

825

702

749

1,178

1,090

826

978

1,078

373

402

458

576

572

628

946

963

802

856

978

Operating Profit

124

249

130

122

232

127

122

100

OPM %

14.16%

9.70%

21.28%

30.20%

18.52%

16.23%

19.66%

11.63%

2.93%

12.43%

9.31%

Interest

Depreciation

Profit before Tax

106

233

112

100

212

104

111

Tax %

31.11%

24.37%

31.26%

34.67%

16.69%

29.60%

24.49%

24.53%

25.19%

24.71%

22.85%

Net Profit

152

160

EPS

20.05

16.48

57.71

120.97

74.36

55.84

127.41

62.41

12.02

66.42

—

Dividend Payout %

22.83%

35.69%

21.51%

15.50%

13.45%

20.15%

17.66%

18.03%

45.77%

20.70%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

201

352

434

584

595

710

926

985

1,069

1,171

Trade Payables

105

123

180

107

185

137

106

112

124

149

145

Total Liabilities

418

559

618

779

823

953

1,232

1,225

1,412

1,461

164

179

198

233

375

388

426

427

423

439

Capital Work in Progress

152

175

261

156

209

295

359

606

635

165

131

106

185

216

Cash & Bank

170

163

166

203

187

219

258

202

Total Assets

418

559

618

779

823

953

1,232

1,225

1,412

1,461

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

146

212

137

113

158

156

Cash from Investing

-27

-48

-109

-65

-48

-106

-117

-72

-46

Cash from Financing

-17

-48

-74

-24

-31

-17

-35

-17

-16

-1

-2

-14

-25

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

19.72

16.81

58.13

120.97

74.36

55.84

127.41

62.41

12.02

66.42

Book Value (₹)

160.44

284.93

350.35

469.75

478.22

569.47

741.99

788.92

855.74

936.46

Dividend per Share (₹)

4.50

6.00

12.50

18.75

10.00

11.25

22.50

11.25

5.50

13.75

Cash EPS (₹)

31.24

27.88

70.01

135.39

92.48

77.44

151.79

87.36

37.02

93.30

PROFITABILITY

Operating Margin %

13.50%

10.88%

21.56%

30.80%

19.69%

17.29%

20.85%

12.71%

2.92%

12.43%

Net Margin %

5.34%

4.34%

12.29%

18.42%

13.26%

9.34%

13.59%

7.19%

1.82%

8.54%

ROE %

13.09%

7.48%

18.30%

29.50%

15.69%

10.66%

19.43%

8.15%

1.46%

7.41%

ROCE %

17.22%

10.82%

25.84%

45.08%

19.02%

15.28%

25.92%

11.12%

2.24%

10.16%

6.34%

4.33%

12.42%

21.78%

11.67%

7.90%

14.66%

6.39%

1.15%

5.81%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

107

106

105

100

118

117

109

120

-1

-13

-2

-3

-8

FINANCIAL HEALTH

Debt to Equity (x)

0.43x

0.19x

0.02x

0.01x

0.04x

0.01x

0.00x

Interest Coverage (x)

3.94x

3.51x

16.28x

68.80x

30.58x

34.02x

70.31x

31.64x

7.82x

32.08x

1.22x

1.38x

1.72x

2.69x

1.81x

2.04x

2.34x

3.59x

2.56x

3.14x

GROWTH

Revenue Growth %

-9.76%

2.56%

30.54%

41.80%

-14.85%

6.69%

57.18%

-7.49%

-24.19%

18.39%

Operating Profit Growth %

-18.51%

-17.61%

141.81%

98.38%

-45.43%

-6.42%

89.27%

-43.57%

-60.65%

171.63%

Net Profit Growth %

-37.28%

-16.94%

245.74%

108.12%

-38.53%

-24.91%

128.18%

-51.02%

-80.74%

452.71%

0.00%

-80.74%

452.71%

VALUATION

P/E (x)

0.00x

58.98x

14.59x

P/B (x)

0.00x

0.83x

1.03x

Dividend Yield %

0.00%

0.78%

1.42%

0.00x

16.11x

8.13x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.58

52.57

52.66

52.68

52.69

51.86

0.89

1.56

2.17

2.05

2.08

2.01

1.94

1.85

6.97

6.74

6.72

6.80

6.81

6.82

Government

0.00

39.56

38.90

38.52

38.58

38.53

38.52

38.50

38.56

39.47

Excel Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Excel Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI