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Swing Capital

Excel Industries Ltd

NSE: EXCELINDUS BSE: 500650Pharma

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

₹979
52W: ₹800 — ₹1440
PE 17.1 · Book ₹985 · -1% vs book
Market Cap₹1,231 Cr
Stock P/E17.1Price to Earnings
ROCE9.45%Return on Capital
ROE6.92%Return on Equity
Div. Yield1.39%Face Value ₹5

Strengths

  • +Company is almost debt free.
  • +Stock is trading at 0.98 times its book value
  • +Company has been maintaining a healthy dividend payout of 28.2%

Weaknesses

  • −The company has delivered a poor sales growth of 6.84% over past five years.
  • −Company has a low return on equity of 5.38% over last 3 years.

Shareholding Pattern

Promoters52.69%
FIIs1.94%
DIIs7.07%
Public38.31%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters52.58%52.56%▼0.052.57%▲0.052.66%▲0.152.68%▲0.052.68%52.69%▲0.052.69%
FIIs0.89%1.56%▲0.72.17%▲0.62.05%▼0.12.08%▲0.02.01%▼0.12.01%1.94%▼0.1
DIIs6.97%6.97%7%▲0.06.98%▼0.06.98%7.06%▲0.17.07%▲0.07.07%
Public39.56%38.91%▼0.738.26%▼0.638.32%▲0.138.27%▼0.038.27%38.25%▼0.038.31%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales198.04180.28233.54264.91268.91196.41247.84309.47270.19233.45
Expenses195.35178.53220.66225.75219.65184.09228.01267.14240.08217.53
Operating Profit2.691.7512.8839.1649.2612.3219.8342.3330.1115.92
OPM %1.36%0.97%5.52%14.78%18.32%6.27%8%13.68%11.14%6.82%
Net Profit-0.642.837.3131.4834.256.411.3733.5618.738.4
EPS ₹-0.512.255.8225.0427.255.099.0426.714.96.68

AI Insights

Revenue Trend

TTM revenue at ₹1,061Cr, up 8.5% YoY. OPM at 10%.

Debt Position

Borrowings at ₹11Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹29Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 7.07% (+0.08pp change). FIIs: 1.94% (+1.20pp change). Promoters hold 52.69%.

Margin & Efficiency

ROCE declining from 14% (Mar 2014) to 9% (Mar 2025). Working capital days: 57.

Valuation

PE 17.1x with 9.45% ROCE. Price is -1% above book value of ₹985. Dividend yield: 1.39%.

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