Excel Industries Ltd - Stock Valuation and Financial Performance

BSE: 500650 | NSE: EXCELINDUS | Pesticides & Agrochemicals | Small Cap

Excel Industries Share Price

715.75 -3.40 -0.47%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Excel Industries

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Excel Industries stock performance -

mw4me loader
P/E Ratio (SA):
87.81
Market Cap:
891 Cr.
52-wk low:
698.9
52-wk high:
1,017.4

Is Excel Industries Ltd an attractive stock to invest in?

1. Is Excel Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Excel Industries Ltd is a average quality company.

2. Is Excel Industries Ltd undervalued or overvalued?

The key valuation ratios of Excel Industries Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Excel Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Excel Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Excel Industries:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Excel Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 11.2%19.1%11.9%8.5%18%29.8%15.8%10.8%19.6%8.4%-
Value Creation
Index
-0.20.4-0.2-0.40.31.10.1-0.20.4-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4164824484625998257027491,1781,090819
Sales YoY Gr.-15.8%-6.9%3.1%29.6%37.8%-14.9%6.7%57.2%-7.5%-
Adj EPS 15.834.319.618.158.7122.374.556.1127.862.98.1
YoY Gr.-116.7%-42.9%-7.5%223.8%108.2%-39.1%-24.7%127.7%-50.8%-
BVPS (₹) 134.5152.7160.4284.9350.4469.8478.2569.5742788.9817.4
Adj Net
Profit
17.340.925.322.873.815493.770.61617910
Cash Flow from Ops. 13.444.245.635.112013511090.2109127-
Debt/CF from Ops. 7.62.221.90.10.10.20.10.10-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.3%12.7%15.8%-7.5%
Adj EPS 16.6%1.4%-5.5%-50.8%
BVPS21.7%17.6%18.2%6.3%
Share Price 26.6% -9% -5.2% -10.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
12.224.5138.118.529.815.710.719.58.21
Op. Profit
Mgn %
9.515.2141020.930.518.616.519.711.92.8
Net Profit
Mgn %
4.28.55.64.912.318.613.39.413.67.31.2
Debt to
Equity
0.70.50.40.2000000-
Working Cap
Days
14613316416212910713813411012695
Cash Conv.
Cycle
6162736642275046355468

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 15.76%

Return on Equity has declined versus last 3 years average to 1.00%

Net Profit has been subdued in last 3 years -5.50%

Sales growth is not so good in last 4 quarters at -32.13%

Latest Financials - Excel Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 8.1 9.9
TTM Sales (₹ Cr.) 819 819
BVPS (₹.) 817.4 1,107.8
Reserves (₹ Cr.) 1,021 1,386
P/BV 0.87 0.64
PE 87.81 71.28
From the Market
52 Week Low / High (₹) 698.90 / 1017.40
All Time Low / High (₹) 9.17 / 1906.95
Market Cap (₹ Cr.) 891
Equity (₹ Cr.) 6.3
Face Value (₹) 5
Industry PE 33.6

Management X-Ray of Excel Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.030.03
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Excel Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales4164824484625998257027491,1781,090
Operating Expenses 377410386419475576572628946963
Manufacturing Costs6370766884102110115160158
Material Costs227237215228253337314355588612
Employee Cost 5462566270768589106105
Other Costs 32414061686164689388
Operating Profit 39726243123249130122232127
Operating Profit Margin (%) 9.4%14.9%13.8%9.3%20.6%30.2%18.5%16.2%19.7%11.6%
Other Income 5731045981412
Interest 12141311734333
Depreciation 11151514151823273131
Exceptional Items 0000000000
Profit Before Tax 21503727105233112100212104
Tax 310117338119305226
Profit After Tax 1741252173152937016078
PAT Margin (%) 4.2%8.4%5.6%4.5%12.1%18.4%13.3%9.4%13.6%7.2%
Adjusted EPS (₹)16.034.119.516.557.7121.074.455.8127.462.4
Dividend Payout Ratio (%)23%21%23%36%22%16%13%20%18%18%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 147182207358440590601716933992
Share Capital 5666666666
Reserves 141176201352434584595710926985
Minority Interest0000000000
Debt957978608621651
Long Term Debt2618109100000
Short Term Debt696168507621651
Trade Payables535471618598105123180107
Others Liabilities 56696280848495108113125
Total Liabilities 3493844185596187798239531,2321,225

Fixed Assets

Gross Block264265277193227279443481549577
Accumulated Depreciation1361081131429466893123150
Net Fixed Assets128157164179198233375388426427
CWIP 20338231210172119
Investments 141414153176262157209295359
Inventories4867635253667869165131
Trade Receivables101106127116119154150173199157
Cash Equivalents 92442418526686
Others Assets29364345464835465945
Total Assets 3493844185596187798239531,2321,225

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1344463512013511090109127
PBT 21503727105233112100212104
Adjustment 28242817191818262127
Changes in Working Capital -27-20-4321-397-12-7525
Tax Paid -9-10-15-12-26-77-27-23-49-29
Cash Flow From Investing Activity -32-27-2712-48-109-65-48-106-117
Capex -35-32-25-36-52-45-65-48-74-32
Net Investments 010290-68-6-6-45-90
Others 34-2193465134
Cash Flow From Financing Activity 20-23-17-48-74-24-31-17-17-35
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 00-120000000
Interest Paid -10-12-12-10-6-2-2-1-1-1
Dividend Paid -3-7-5-7-9-19-440-14-28
Others 33-411-31-59-314-16-1-5
Net Cash Flow 1-51-1-221425-14-25
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)12.4624.712.967.3618.1729.515.6910.6619.438.15
ROCE (%)14.2624.2117.0910.6825.6645.0819.0215.2825.9211.12
Asset Turnover Ratio1.341.441.221.031.041.180.880.841.080.89
PAT to CFO Conversion(x)0.761.071.841.671.640.891.181.290.681.63
Working Capital Days
Receivable Days76718788706079795859
Inventory Days36404842312637363650
Payable Days82821071061061001181179486

Excel Industries Ltd Stock News

Excel Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Excel Industries on 28-Mar-2024 16:01 is ₹715.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Excel Industries stood at ₹891.0.
The latest P/E ratio of Excel Industries as of 28-Mar-2024 16:01 is 87.81.
The latest P/B ratio of Excel Industries as of 28-Mar-2024 16:01 is 0.87.
The 52-week high of Excel Industries is ₹1,017.4 and the 52-week low is ₹698.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Excel Industries is ₹818.7 ( Cr.) .

About Excel Industries Ltd

Excel Industries is engaged in manufacturing of Agrochemical intermediates, phosphates, speciality chemicals, biocides and pharma products.

Incorporated in 1960, the company’s manufacturing units are located at Maharashtra and Gujarat. Excel Industries' manufacturing facilities have received ISO 14001 and IS 18001 certifications for its quality management.

The company is engaged in conducts research and development activities for creating several custom-made products for meeting specific customer requirements.

It also focuses on waste management area, where it has taken initiative to convert Municipal Solid Waste (MSW) into Organic Soil Conditioner (enricher).

The company owns a subsidiary namely Kamaljyot Investments.

Excel Industries has mastered in technologies and processes namely Bromination, Chlorination, Acetylation, Diels Alder Reaction, Hydrogenation, Phosphorylation and Cyclisations.

Products

Agrochemical intermediates- Under this, the company manufactures a range of Phosphorus Derivatives like Phosphorous Pentasulphide, Phosphorous Trichloride, Diethylthiophosphoryl Chloride and many more. These derivatives are used in manufacturing of Organophosphorous pesticides, lube oil additives, mining chemicals, pharmaceutical, dye intermediates and fire retardant plasticizers.

Phosphates- Under this, it manufactures range of Codex, Sequacel and Dispercel. These products have applications in cooling water treatment, boiler water treatment, soaps and detergents, textile processing, bottle washing, industrial and institutional cleaners, deflocculation of slurries, antiscalant formulations for oilfields, sea water evaporators, reverse osmosis & sugar processing.

Speciality Chemicals- Under this, Excel Industries has developed speciality chemicals such as SPA, PPPBP, PEEB, DTPs, PPA, THPE, DMBPC, NICOTINIC and ESTER. These chemicals find application in ion extraction, chelation, polymer manufacture, as an additive in paper industry and as corrosion scale inhibitor.

Biocides- The company produces BIOCEL SP 85 and ACEXCEL-240. It is used as an industrial fungicide in Textiles, Paints, Guargum, Adhesives and Paper-Pulp industries and as a Slimicide and Algaecide in Cooling Water Systems.

Pharma Products- The company produces products such as TPP, DMATA.HCL, NI4, DMT-T, DMT-CI, 2-DOR and MOEBr.

Awards/ Milestones

2012 Inauguration of Pharma facility at Lote for production of advanced pharma intermediates and APIs.
ICC (Indian Chemical Council) Lifetime Achievement Award for Mr. Ashwin Shroff (Chairman, Excel Industries Ltd.)

In 2009 Environment and Biotech Division of Excel bagged an order for technology licensing and Project Management Consultancy services for setting up a 350 TPD capacity solid waste processing plant in Mauritius

Excel Industries has received Certificate of Excellence from Bayer Crop Sciences in the year 2007

It was awarded second prize for Energy Conservation and Management from Indian Chemical Council.

 

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