On 6 Nov 2026, Excel Industries was priced at ₹983.10, or 17.3× trailing earnings, against an industry P/E of 22.1×, and the shares are 14% below their 52-week high. Its ROCE of 5.3% is the lowest among the 7 largest Specialty Chemicals peers, and sales grew 0.1% a year over 3 years while net profit fell 1.8%. It has almost no debt, and its dividend yield is 1.6%. It is a small-cap company with a market cap of ₹1,236 Cr, ranked 77th of 204 Specialty Chemicals companies by market cap; the shares fell 19% over the past year.
- ₹905.00
- ₹1,001.05
- ₹900.05
- ₹906.40
- 36.9K
Health check
- ReturnsBehind
−18.7% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 17.3 vs industry 22.1.
- GrowthSlow
Sales +0.1%, profit −1.8% a year over 3 years.
- ProfitabilityWeak
ROCE 5.3% vs peer median 24.4%.
- Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
- Red flags3 to check
Return on equity is low at 4.6%.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,236 Cr
- Small cap
- P/E
- 17.3
- Industry 22.1
- Price to book
- 0.73
- Peers 13.33
- Dividend yield
- 1.57%
- ROE
- 4.6%
- Peers 23.0%
- ROCE
- 5.3%
- Peers 24.4%
- Debt to equity
- 0.00
- Debt ₹7.88 Cr
- EPS (TTM)
- ₹56.77
- Face value ₹5
- OPM (TTM)
- 10.2%
- Net margin 6.6%
- Sales growth
- −5.1%
- Latest quarter vs a year ago
- Profit growth
- −12.7%
- Latest quarter vs a year ago
- Price to sales
- 1.15
- EV/EBITDA 8.7
Strengths and risks
Strengths
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 4.6%.
- Quarterly profit down 12.7% on a year ago.
- Quarterly sales down 5.1% on a year ago.
About Excel Industries
Excel Industries Limited manufactures and sells speciality chemicals, intermediates, and actives in India and internationally. The company offers o,o-diethylthiophosphoryl chloride; phosphorus pentasulphide; 0,0-diethyldithiophosphoric acid; thiophosphoryl chloride; phosphorus trichloride; 3,5,6 trichloropyridin-2-ol sodium; o,o-dimethyl amidothiophosphate; and dimethyl thiophosphoryl chloride. It also provides polymer additives, such as 1,1,1,tris…
- Headquarters
- Mumbai
- Employees
- 1,162
- Sector
- Basic Materials
- ISIN
- INE369A01029
- Website
- excelind.co.in
Price range
- Avg volume (3M)
- 29.2K
- 1-year return
- minus 18.7%
- From 52-week high
- minus 14.4%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| EXCELINDUSExcel Industries | 983.10 | plus 8.46% | 1,236 | 17.3 | 9.4 | 5.3% | 10.2% | 0.00 | 0.1% | minus 18.7% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 310 | 270 | 234 | 281 | 294 | |
| 267 | 240 | 218 | 259 | 251 | |
| 42.2 | 29.9 | 15.7 | 22 | 42.4 | |
| 13.6% | 11.1% | 6.7% | 7.8% | 14.4% | |
| 12.2 | 7.4 | 5.1 | 2.6 | 6.7 | |
| 1 | 0.8 | 0.5 | 0.3 | 0.6 | |
| 8.9 | 9.1 | 9.2 | 9.6 | 9.6 | |
| 44.5 | 27.5 | 11.2 | 14.7 | 38.9 | |
| 24.1% | 22.9% | 24.8% | 16.2% | 24.3% | |
| 33.8 | 21.2 | 8.4 | 12.3 | 29.5 | |
| 26.86 | 16.85 | 6.71 | 9.77 | 23.44 |
Profit & loss
- Sales CAGR 3Y
- +0.1%
- Profit CAGR 3Y
- −1.8%
- EPS CAGR 3Y
- −1.8%
- ROE
- 4.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,084 | 821 | 972 | 1,088 | |
| – | minus 24.2% | +18.4% | +11.9% | |
| 951 | 794 | 849 | 971 | |
| 132 | 27 | 123 | 117 | |
| 12.2% | 3.3% | 12.7% | 10.8% | |
| 5.7 | 20.2 | 20.6 | 19.5 | |
| 1.7 | 1.3 | 2.1 | 1.7 | |
| 31.4 | 31.4 | 34.1 | 36.9 | |
| 0.7 | 8.2 | 5 | −0 | |
| 106 | 22.7 | 113 | 97.8 | |
| 24.4% | 24.9% | 24.5% | 22.6% | |
| 79.9 | 17 | 85.3 | 75.7 | |
| – | minus 78.7% | +401.5% | minus 11.3% | |
| 63.59 | 13.53 | 67.87 | 60.19 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.3 | 6.3 | 6.3 | 6.3 | |
| 1,235 | 1,421 | 1,582 | 1,697 | |
| 2.7 | 1.8 | 12.3 | 7.9 | |
| 248 | 367 | 319 | 394 | |
| 1,493 | 1,796 | 1,920 | 2,105 | |
| 428 | 427 | 432 | 482 | |
| 19.9 | 19.4 | 8.9 | 44.2 | |
| 568 | 785 | 875 | 999 | |
| 143 | 207 | 222 | 140 | |
| 334 | 357 | 382 | 440 | |
| 1,493 | 1,796 | 1,920 | 2,105 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 125 | 72.4 | 61.8 | 52.9 | |
| −118 | −51.2 | −41.3 | −25.1 | |
| −34.6 | −16.9 | −16.1 | −27 | |
| −26.7 | 4.2 | 4.5 | 0.8 | |
| −32.7 | −32.4 | −43.5 | −79.5 | |
| 92.7 | 40 | 18.3 | −26.6 | |
| −28.2 | −14.2 | −6.9 | −17.3 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 6.9% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.