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Excel Crop Care Ltd. - (Amalgamated) Stock Analysis

Small Cap
Evaluated by 610 users | BSE: 532511 | NSE: EXCELCROP |
Pesticides & Agrochemicals
Excel Industries, the company’s founding company, started off in a kitchen laboratory in 1941. Today it is ranked among industry leaders with a turnover exceeding Rs 4000 million. Since its inception, Excel Industries has built a solid history and reputation of developing, manufacturing...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Capital Employed 18.76%14.7%15.58%9.99%9.62%22.69%18.17%14.7%16.19%17.38%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 6856437266777659671,0108779461,147
Y-o-Y Gr. Rt.--6.1%12.8%-6.7%13%26.4%4.5%-13.2%7.8%21.3%
Adjusted EPS (Rs.) 35.7134.5139.5122.1420.8663.5357.4351.7360.5975.24
Y-o-Y Gr. Rt.--3.4%14.5%-44%-5.8%204.6%-9.6%-9.9%17.1%24.2%
Book Value per Share (Rs.) 127.15153.81189.08200.87216.76263.18305.65344.79395.48472.51
Adjusted Net Profit 39.33843.524.42369.963.256.966.782.8
Net Op. Cash Flow (Rs. Cr.) 26.835.26858.671.955.435.194.465.916.6
Debt to Cash Flow from Ops 5.514.131.82.241.050.762.030.200.61
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Excel Crop Care Ltd. - (Amalgamated) should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 5.9%8.4%4.3%21.3%
Adjusted EPS 8.6%29.3%9.4%24.2%
Book Value per Share 15.716.915.619.5
Share Price 39.6% 32.6% 23.3% -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Return on Equity (%) 30.424.5723.0411.359.9926.4720.1915.9116.3717.34
Operating Profit Margin (%) 8.0611.5812.048.176.9211.7410.7310.8410.9112.16
Net Profit Margin (%) 5.745.915.993.637.236.266.497.057.22
Debt to Equity 1.060.860.590.590.320.150.210.0500.02
Working Capital Days 157222212244190170209240202186
Cash Conversion Cycle 63877473584649675765
Entity Percentage Holding
Promoters 64.97%
Institutions 6.94%
Non-Institutions 28.10%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Excel Crop-Amalgamat's performance infers:

Excel Crop-Amalgamat earnings have grown by 29.3%, whereas share price has appreciated 32.6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Excel Crop-Amalgamat share prices over the last 10 years. Here is what we found out:

Excel Crop-Amalgamat share price has appreciated 29.7% annually over the past ten years.

Excel Industries, the company’s founding company, started off in a kitchen laboratory in 1941. Today it is ranked among industry leaders with a turnover exceeding Rs 4000 million. Since its inception, Excel Industries has built a solid history and reputation of developing, manufacturing and exporting chemicals. The company achieved over 100 product and process breakthroughs that are serving the specific needs of various clients even now. Excel Industries is the first company in Asia

Excel Industries, the company’s founding company, started off in a kitchen laboratory in 1941. Today it is ranked among industry leaders with a turnover exceeding Rs 4000 million. Since its inception, Excel Industries has built a solid history and reputation of developing, manufacturing and exporting chemicals. The company achieved over 100 product and process breakthroughs that are serving the specific needs of various clients even now. Excel Industries is the first company in Asia and third in the world to make Endosulfan Technical, the first in Asia to make Butene Diol and the second in the world to develop Glyphosate Technical. And the third company in the world to develop Aluminium Phosphide. Excel Industries has received various awards in recognition of their dedication and excellence in the field of chemicals.

Excel Crop Care was set up in 2003 and actively promotes Integrated Pest Management (IPM) to Indian farmers. It has demonstrating the use of Integrated Crop Management (ICM) techniques to the farmers, using innovative methods.

Its main manufacturing plant at Bhavnagar is ISO 9002; ISO 14000 and OSHAS 18000 certified and meets statutory requirements on quality and safety. The more recent plants at Gajod and Silvassa are equipped with state-of-the-art machinery and are in the process of obtaining the ISO certification. Their quality consciousness is not limited to manufacturing. Each of the company's manufacturing locations has a well-equipped R&D facility, which is Government of India approved, that's busy exploring newer eco-friendly chemistries for crop care and effective formulations technologies and recipes.

For well over 60 years it was Excel Industries. The company produced chemicals that helped reap richer rewards for farmers across India. Excel Crop Care began with three manufacturing plants; over 1200 dedicated employees; a range of market-leading brands; a distribution network of 40000 dealers; a customer base running into millions; and a turnover exceeding Rs.3000 million. Not to mention the accumulated wisdom of six decades. With Excel Crop Care, it is now propagating a more scientific approach to agriculture, which will do away with wasteful practices and lead to better crop yields with lesser expenses.

Excel Crop Care has been awarded an Export House status. It manufactures the finest quality of internationally accepted agrochemicals, which includes insecticides, herbicides, fungicides, fumigants, and rodenticides. The company is more than just a source of chemicals. Its total commitment to quality and dedication has turned their products/brands into household names, many of which are now market leaders.  The company is captioned by some of the most qualified and knowledgeable professionals in the field. Excel Crop's skills and commitment to the agro community has made the company synonymous with mastering complex technologies and giving the farmers the world over the best products and the best crop production technology. 

The company has been awarded this certificate by TUV SUD Group, for establishing and applying a Social Accountability Management System for Manufacturing and Supplying of Agro Chemicals and Industrial Chemicals.  The SA 8000 standard is an auditable certification standard based on international workplace norms of International Labour Organization (ILO) conventions, the Universal Declaration of Human Rights and the UN Convention on the Rights of the Child. Excel Crop Care's Technical Actives, bulk and branded formulations are presently registered and marketed in Asia Pacific, South Asia, West Asia, Africa, Europe (West & East including CIS countries) Central & South America and the USA.

Excel Crop's exports presently account for about 25 % of the turnover, but will play a more significant role in the company's business in the coming years. Besides the necessary infrastructure at the plants it has a subsidiary in Antwerp, Belgium manned by professionals who perfectly understand the requirements and specialties of customers in that part of the world.

In 2009-10 the company started construction of Soil Health Research Lab

In 2010-12 Fermentation R&D lab for Bio Pesticides Research-Regn & production of Bio Pesticides

Products:

1. Insecticides

• Endosulfan • Chlorpyriphos • Profenophos • Imidachloprid

2. Fungicides

• Sulfex 80% WP (Wettable Sulfur) • Sulfex Gold 80% WDG (Wettable Sulfur) • Crop Diseases

3. Herbicides

• Isopropylamine Salt of Glyphosate • Ammonium Salt of Glyphosate

4. Rodenticides

• Zinc phosphide

5. Fumigants

• Aluminium Phosphide

6. Biologicals 

• Composter • Soil Enricher • Organic Fertilizer • Nutrient Mobilizer • Seed growth enhancer • Plant Growth Enhancers • Biopesticides

7. Fishery Segment 

• FishcelTM

8. Other Products

• Seed Dressing • Plant Growth Promoter

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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