Excel Industries Ltd
EXCELINDUSExcel Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk.
The price is in a downtrend (49 weeks in) while the P/E sits at the 55th percentile of its own 11-year range. Underneath, the last four quarters read deteriorating — profit −14.7% year on year, and 105% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Excel Industries Ltd trades at ₹981, in a downtrend and 49 weeks into that stage. That is −0.9% against its own 200-day average. It sits at 44% of a 52-week range of ₹846 to ₹1,149. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 7 straight weeks.
Today the stock is in a downtrend — week 49 of stage 4. At ₹981 it trades −0.9% versus its 200-day average and sits at 44% of its 52-week range (₹846–₹1,149).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +339% while the NIFTY 500 moved +259% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 7 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Excel Industries Ltd trades at 17.3× P/E, mid-range by its own standards (55th percentile). Its long-run median P/E is 16.7×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 17.3× is mid-range by its own standards (55th percentile), against a long-run median of 16.7× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −11.3% against a −14.4% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the −1.9%/yr price move, ~−3.3%/yr came from earnings growth and ~+1.4 pp from the multiple (expanding); over 10y, of the +11.5%/yr price move, ~+10.6%/yr came from earnings growth and ~+0.9 pp from the multiple (roughly flat). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 13 June 2026 price, Excel Industries Ltd was paying for profit growth of about 9.5% a year. Profit itself has compounded 11.3% a year over the past 10 years. Today the market pays 17.3× P/E, the 55th percentile of its own 11-year range.
What the two numbers say together. The multiple is unremarkable against its own past, and the growth the price is paying for is close to what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Excel Industries Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −20.5% latest against +515.4% at its 12-quarter best), ROCE slipping at 6.0%. The read is built from 8 quarters across 4 curves, on partial evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +12.0% | +0.2% | +7.9% | +9.3% |
| Profit | −10.6% | −1.7% | +1.4% | +11.3% |
| EPS | −11.3% | −1.8% | +1.3% | +11.5% |
| Share price | −14.4% | +1.0% | −1.9% | +11.5% |
4-Factor Sector Score
42.8/100 — rank 15 of 24 in Pesticides/Agrochemicals · 74% evidence confidence
Excel Industries Ltd scores 42.8 out of 100 against the 24 companies it is compared with in Pesticides/Agrochemicals, ranking 15. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 12.4 + 10.3 + 10.4 + 9.7 = 42.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Excel Industries Ltd reported ₹294 Cr of revenue in the Jun 26 quarter, −5.2% year on year. Over 10 years it has compounded at 9.3% a year. The last full year, FY26, came in at ₹1,095 Cr. The last four reported quarters add to ₹1,079 Cr.
FY26 revenue came in at ₹1,095 Cr (+12.0% on the year), capping 10 years at 9.3% compound. The latest quarter (Jun 26) printed ₹294 Cr, −5.2% year on year.
Pace check: the last four quarters averaged +7.0% growth against the decade's 9.3% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +5.5% over the last 4 quarters against +10.9%/yr over the last 8 — rolling over; TTM profit −20.5% vs +27.6%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Excel Industries Ltd's operating margin is 14.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0% to 30.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 14.0%, +0.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0%–30.0%.
Why the margin moved: operating margin went +0.8 pp year on year while gross margin went +4.5 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Excel Industries Ltd earned ₹29.0 Cr of net profit in the Jun 26 quarter, −14.7% year on year. Full-year FY26 profit was ₹76.0 Cr. The 10-year compound rate is 11.3%. That is 9.9% of the quarter's revenue. The same quarter a year earlier earned ₹34.0 Cr.
Jun 26 profit was ₹29.0 Cr, −14.7% year on year. On the full year, FY26 printed ₹76.0 Cr (−10.6%), and the 10-year compound rate is 11.3%.
🚨 Why profit moved: revenue contributed −5.2% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit −5.8% vs revenue +7.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 105% of Excel Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹53.0 Cr of operating cash against ₹76.0 Cr of profit. After ₹79.0 Cr of capital spending, ₹−26.0 Cr was left as free cash.
FY26: operating cash of ₹53.0 Cr against reported profit of ₹76.0 Cr, leaving free cash of ₹−26.0 Cr after ₹79.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 105% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 105%: the cash cycle stretched 45 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 1.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Excel Industries Ltd's cash conversion cycle runs 74 days in FY26, up from 29 days in FY21. Capital spending ran ₹169 Cr over the last 3 years. At FY26 sales of ₹1,095 Cr each day of that cycle holds about ₹3.0 Cr, so roughly ₹222 Cr sits inside the business at any moment.
FY26: debtors at 87 days, inventory at 81 days — roughly 2.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 74 days, looser than FY21's 29.
The full loop: cash goes out to suppliers and production on day 0; stock waits 81 days to sell; customers pay about 87 days after that; and suppliers themselves are paid at 94 days — netting out to the 74-day cycle.
In money terms: at FY26 sales of ₹1,095 Cr, each day of the cycle holds about ₹3.0 Cr — so the 74-day loop keeps roughly ₹222 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹169 Cr over the last 3 fiscal years against ₹102 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹38.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Excel Industries Ltd earns a ROCE of 6% in FY26. That is up from a trough of 2% in FY24. Return on invested capital clears the cost of that capital by −8.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.9% net margin on 0.52× asset turns.
FY26 ROCE is 6%, recovered from a FY24 trough of 2% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.9% net margin × 0.52× asset turns × 1.24× balance-sheet leverage ≈ 4.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 3.5% − 12.0% = a −8.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Excel Industries Ltd carries total debt of ₹8.0 Cr against shareholder equity of ₹1,703 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.01 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹8.0 Cr against shareholder equity of ₹1,703 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.01 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 1.0 points of Excel Industries Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.9% of the company. Promoters moved −0.7 points over the same window, to 51.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +1.0 points over 8 quarters to 1.9%; Promoters: −0.7 points over 8 quarters to 51.9%; Domestic institutions: +0.1 points over 8 quarters to 7.1%.
Why the register moved: foreign institutions drove it (+1.0 points), absorbed on the other side by promoters (−0.7 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Excel Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Bayer CropScience LtdBAYERCROP | 71.8/100Favorable setup94% evidence | BASING | 22.9/35 Revenue -2.8% · PAT 23.8% · OPM change 2 pp 100% evidence | 21.2/25 ROCE 29.1% · OPM 20% 100% evidence | 14.7/20 P/E 24.4× · PEG 1.28 100% evidence | 13.0/20 RS sector 9.4% · RS bench -11% · 1Y -21.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 22.9 + 21.2 + 14.7 + 13 = 71.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Titan Biotech Ltd524717 | 68.9/100Favorable setup82% evidence | ASLEEP | 29.1/35 Revenue 31.8% · PAT 38.7% · OPM change 2 pp 95% evidence | 20.1/25 ROCE 22.8% · OPM 21% 76% evidence | 5.7/20 P/E 53.3× · PEG — 50% evidence | 14.0/20 RS sector 35.7% · RS bench 34.4% · 1Y 213.5%0 of 12 weeks ahead 100% evidence |
| Exact sum: 29.1 + 20.1 + 5.7 + 14 = 68.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Sharda Cropchem LtdSHARDACROP | 64.7/100Mixed-positive evidence100% evidence | BASING | 24.2/35 Revenue 18.5% · PAT 49% · OPM change -5 pp 100% evidence | 19.6/25 ROCE 30.2% · OPM 17% 100% evidence | 18.7/20 P/E 11× · PEG 0.26 100% evidence | 2.2/20 RS sector -14.6% · RS bench -15.4% · 1Y -16.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 24.2 + 19.6 + 18.7 + 2.2 = 64.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.6% and the one-year return is -16.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 4Dharmaj Crop Guard LtdDHARMAJ | 63.2/100Mixed-positive evidence74% evidence | BASING | 21.1/35 Revenue 8.5% · PAT 13.2% · OPM change 1 pp 95% evidence | 15.9/25 ROCE 16.8% · OPM 15% 95% evidence | 10.9/20 P/E 15.1× · PEG — 15% evidence | 15.3/20 RS sector 5% · RS bench 4.5% · 1Y -27.7%0 of 10 weeks ahead 70% evidence |
| Exact sum: 21.1 + 15.9 + 10.9 + 15.3 = 63.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Punjab Chemicals & Crop Protection LtdPUNJABCHEM | 60.5/100Mixed-positive evidence81% evidence | BREAKING OUT | 23.4/35 Revenue 8.2% · PAT 43.5% · OPM change 1 pp 95% evidence | 17.9/25 ROCE 18.6% · OPM 12% 95% evidence | 11.6/20 P/E 19.5× · PEG — 50% evidence | 7.6/20 RS sector -6.2% · RS bench -5.8% · 1Y -4.2%5 of 10 weeks ahead 70% evidence |
| Exact sum: 23.4 + 17.9 + 11.6 + 7.6 = 60.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Advance Agrolife LtdADVANCE | 56.9/100Mixed-positive evidence60% evidence | BREAKING OUT | 21.3/35 Revenue 48.4% · PAT 81.5% · OPM change 1 pp 95% evidence | 14.8/25 ROCE 19.6% · OPM 11% 95% evidence | 10.8/20 P/E 15.5× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —8 of 10 weeks ahead 0% evidence |
| Exact sum: 21.3 + 14.8 + 10.8 + 10 = 56.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7India Pesticides LtdIPL | 52.9/100Mixed-positive evidence81% evidence | BASING | 20.1/35 Revenue 17% · PAT 10.1% · OPM change -2 pp 95% evidence | 13.7/25 ROCE 16.6% · OPM 14% 95% evidence | 14.1/20 P/E 14.3× · PEG — 50% evidence | 5.0/20 RS sector -11.9% · RS bench -17.5% · 1Y -35.3%1 of 11 weeks ahead 70% evidence |
| Exact sum: 20.1 + 13.7 + 14.1 + 5 = 52.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Bhagiradha Chemicals & Industries LtdBHAGCHEM | 51.9/100Mixed-positive evidence100% evidence | ASLEEP | 29.1/35 Revenue 33.7% · PAT 100% · OPM change 9 pp 100% evidence | 7.0/25 ROCE 4.5% · OPM 16% 100% evidence | 1.6/20 P/E 122× · PEG 8.06 100% evidence | 14.2/20 RS sector 9.1% · RS bench 7.6% · 1Y -4.7%10 of 12 weeks ahead 100% evidence |
| Exact sum: 29.1 + 7 + 1.6 + 14.2 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Rallis India LtdRALLIS | 50.9/100Mixed-positive evidence94% evidence | BASING | 20.4/35 Revenue 4.4% · PAT 24.4% · OPM change 2 pp 100% evidence | 10.6/25 ROCE 14.1% · OPM 18% 100% evidence | 11.5/20 P/E 17.2× · PEG 2.15 100% evidence | 8.4/20 RS sector -1.8% · RS bench -19% · 1Y -43.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 20.4 + 10.6 + 11.5 + 8.4 = 50.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Astec Lifesciences LtdASTEC | 50.9/100Mixed-positive evidence69% evidence | BASING | 23.9/35 Revenue 9.4% · PAT 47.7% · OPM change 11.2 pp 71% evidence | 3.2/25 ROCE -5.4% · OPM -0.8% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 13.8/20 RS sector 5.1% · RS bench 3.6% · 1Y -17.7%2 of 12 weeks ahead 100% evidence |
| Exact sum: 23.9 + 3.2 + 10 + 13.8 = 50.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Jubilant Ingrevia LtdJUBLINGREA | 50.5/100Mixed-positive evidence93% evidence | TURNING | 19.0/35 Revenue 11% · PAT 11.2% · OPM change 1 pp 100% evidence | 10.6/25 ROCE 11.4% · OPM 15% 100% evidence | 6.1/20 P/E 33× · PEG 2.41 65% evidence | 14.8/20 RS sector 0.7% · RS bench -0.6% · 1Y -8.3%5 of 12 weeks ahead 100% evidence |
| Exact sum: 19 + 10.6 + 6.1 + 14.8 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Sumitomo Chemical India LtdSUMICHEM | 46.2/100Mixed-negative evidence94% evidence | FADING | 12.6/35 Revenue -3.6% · PAT 3.9% · OPM change 1 pp 100% evidence | 19.0/25 ROCE 22.1% · OPM 22% 100% evidence | 5.5/20 P/E 41.6× · PEG 4 100% evidence | 9.1/20 RS sector -8.2% · RS bench 3.2% · 1Y -16.3%6 of 10 weeks ahead 70% evidence |
| Exact sum: 12.6 + 19 + 5.5 + 9.1 = 46.2 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 13NACL Industries LtdNACLIND | 45.9/100Mixed-negative evidence100% evidence | ASLEEP | 29.1/35 Revenue 11.9% · PAT 100% · OPM change 3 pp 100% evidence | 3.9/25 ROCE 8.1% · OPM 11% 100% evidence | 3.7/20 P/E 142× · PEG 2.02 100% evidence | 9.2/20 RS sector -4.3% · RS bench -5.8% · 1Y -35%7 of 12 weeks ahead 100% evidence |
| Exact sum: 29.1 + 3.9 + 3.7 + 9.2 = 45.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Meghmani Organics LtdMOL | 45.8/100Mixed-negative evidence74% evidence | BREAKING OUT | 20.8/35 Revenue -7.8% · PAT 100% · OPM change 7 pp 95% evidence | 7.8/25 ROCE 6.7% · OPM 18% 95% evidence | 9.4/20 P/E 24.8× · PEG — 15% evidence | 7.8/20 RS sector -33.7% · RS bench 7.6% · 1Y -22%7 of 10 weeks ahead 70% evidence |
| Exact sum: 20.8 + 7.8 + 9.4 + 7.8 = 45.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Excel Industries Ltdthis pageEXCELINDUS | 42.8/100Mixed-negative evidence74% evidence | TURNING | 12.4/35 Revenue 5.5% · PAT -20.4% · OPM change 0 pp 95% evidence | 10.3/25 ROCE 6.2% · OPM 14% 95% evidence | 10.4/20 P/E 17.3× · PEG — 15% evidence | 9.7/20 RS sector -4.6% · RS bench 1.7% · 1Y -15.6%4 of 10 weeks ahead 70% evidence |
| Exact sum: 12.4 + 10.3 + 10.4 + 9.7 = 42.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16UPL LtdUPL | 42.2/100Mixed-negative evidence91% evidence | BASING | 17.1/35 Revenue 12.9% · PAT 98.4% · OPM change -2 pp 74% evidence | 8.3/25 ROCE 10.1% · OPM 13% 100% evidence | 12.2/20 P/E 24.5× · PEG 0.5 100% evidence | 4.6/20 RS sector -11.6% · RS bench -12.5% · 1Y -16.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 17.1 + 8.3 + 12.2 + 4.6 = 42.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Bharat Rasayan LtdBHARATRAS | 41.9/100Mixed-negative evidence87% evidence | ASLEEP | 10.8/35 Revenue -5.2% · PAT 3.6% · OPM change -3 pp 95% evidence | 13.6/25 ROCE 16% · OPM 15% 95% evidence | 14.4/20 P/E 13.2× · PEG — 50% evidence | 3.1/20 RS sector -32.8% · RS bench -34% · 1Y -53.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 10.8 + 13.6 + 14.4 + 3.1 = 41.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 18Epigral LtdEPIGRAL | 41.2/100Mixed-negative evidence94% evidence | TURNING | 7.5/35 Revenue 4.8% · PAT -37.4% · OPM change -2 pp 100% evidence | 14.5/25 ROCE 15.5% · OPM 25% 100% evidence | 14.4/20 P/E 18× · PEG 0.43 100% evidence | 4.8/20 RS sector -32.9% · RS bench -6.6% · 1Y -35.9%1 of 10 weeks ahead 70% evidence |
| Exact sum: 7.5 + 14.5 + 14.4 + 4.8 = 41.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 19Dhanuka Agritech LtdDHANUKA | 40.8/100Mixed-negative evidence100% evidence | BASING | 6.6/35 Revenue -5.6% · PAT -12.1% · OPM change -4 pp 100% evidence | 16.2/25 ROCE 23.8% · OPM 12% 100% evidence | 11.4/20 P/E 16.3× · PEG 1.72 100% evidence | 6.6/20 RS sector -11% · RS bench -12.4% · 1Y -38.9%1 of 12 weeks ahead 100% evidence |
| Exact sum: 6.6 + 16.2 + 11.4 + 6.6 = 40.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Best Agrolife LtdBESTAGRO | 40.0/100Mixed-negative evidence87% evidence | TURNING | 7.9/35 Revenue -24.1% · PAT -56.5% · OPM change 8 pp 95% evidence | 9.1/25 ROCE 5.2% · OPM 20% 95% evidence | 8.8/20 P/E 22.8× · PEG — 50% evidence | 14.2/20 RS sector -0.4% · RS bench -1.8% · 1Y -27.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 7.9 + 9.1 + 8.8 + 14.2 = 40 · Decision use: Price leads the evidence: RS versus the benchmark is -1.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 21Insecticides India LtdINSECTICID | 37.6/100Mixed-negative evidence87% evidence | BASING | 10.7/35 Revenue 1.3% · PAT -16.7% · OPM change -1 pp 95% evidence | 10.8/25 ROCE 15.8% · OPM 11% 95% evidence | 11.5/20 P/E 14.2× · PEG — 50% evidence | 4.6/20 RS sector -6.7% · RS bench -8% · 1Y -23.4%1 of 12 weeks ahead 100% evidence |
| Exact sum: 10.7 + 10.8 + 11.5 + 4.6 = 37.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22P I Industries LtdPIIND | 35.3/100Mixed-negative evidence94% evidence | BASING | 4.7/35 Revenue -16.6% · PAT -27.8% · OPM change -5 pp 100% evidence | 13.8/25 ROCE 15% · OPM 22% 100% evidence | 9.5/20 P/E 31.7× · PEG 1.71 100% evidence | 7.3/20 RS sector -3.4% · RS bench -25.1% · 1Y -38.3%0 of 10 weeks ahead 70% evidence |
| Exact sum: 4.7 + 13.8 + 9.5 + 7.3 = 35.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Heranba Industries LtdHERANBA | 28.0/100Adverse evidence77% evidence | BASING | 8.9/35 Revenue -2.6% · PAT -80% · OPM change 5.9 pp 95% evidence | 2.8/25 ROCE -1.7% · OPM 12.8% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 6.3/20 RS sector -19% · RS bench -20.3% · 1Y -48.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 8.9 + 2.8 + 10 + 6.3 = 28 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24GSP Crop Science LtdGSPCROP | 47.7/100Thin evidence · provisional38% evidence | BREAKING OUT | 14.2/35 Revenue — · PAT — · OPM change 0 pp 45% evidence | 13.6/25 ROCE 18.9% · OPM 11% 76% evidence | 9.9/20 P/E 21× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —9 of 9 weeks ahead 0% evidence |
| Exact sum: 14.2 + 13.6 + 9.9 + 10 = 47.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Excel Industries Ltd's share price today?
Excel Industries Ltd trades at ₹981, −14.4% over the past year. The company is valued at ₹1,233 Cr. The stock sits at 44% of its 52-week range of ₹846–₹1,149, −0.9% versus its 200-day average. On the tape, the price is in a downtrend, 49 weeks in. — as of 11 September 2026.
What were Excel Industries Ltd's latest quarterly results?
Excel Industries Ltd reported revenue of ₹294 Cr and net profit of ₹29.0 Cr for the Jun 26 quarter. Revenue fell 5.2% and profit fell 14.7% year on year. Earnings per share were ₹23.44. The operating margin was 14.0%, 0.0 pp higher than a year earlier. — as of 11 September 2026.
What is Excel Industries Ltd's revenue?
Excel Industries Ltd reported revenue of ₹294 Cr in the Jun 26 quarter, −5.2% year on year. For the full FY26 fiscal year, revenue was ₹1,095 Cr (+12.0%). Over the last 10 years revenue compounded at 9.3% a year. — as of 11 September 2026.
What is Excel Industries Ltd's profit?
Excel Industries Ltd earned ₹29.0 Cr of net profit in the Jun 26 quarter, −14.7% year on year. Full-year FY26 profit was ₹76.0 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.
What is Excel Industries Ltd's market cap?
Excel Industries Ltd's market capitalisation is ₹1,233 Cr at a share price of ₹981. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Excel Industries Ltd's P/E ratio?
Excel Industries Ltd trades at a P/E of 17.3×, at the 55th percentile of its own 11-year range, against a long-run median of 16.7×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Excel Industries Ltd pay a dividend?
Yes — Excel Industries Ltd's dividend payout was 23% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Excel Industries Ltd overvalued?
On its own history, Excel Industries Ltd looks mid-range: its P/E of 17.3× sits at the 55th percentile of its 11-year range (long-run median 16.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Excel Industries Ltd growing?
Not right now — Excel Industries Ltd's latest numbers are shrinking: latest-quarter revenue −5.2% year on year, profit −14.7%, and the margin +0.0 pp at 14.0%. The 10-year compound rates are 9.3% (revenue) and 11.3% (profit). The earnings engine currently reads: deteriorating — as of 11 September 2026.
How is Excel Industries Ltd performing?
Excel Industries Ltd is in a downtrend, 49 weeks in. Its latest quarter's revenue fell 5.2% and profit fell 14.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 7 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Excel Industries Ltd in?
Deteriorating — profit and EPS growth are shrinking (profit growth −20.5% latest against +515.4% at its 12-quarter best), ROCE slipping at 6.0%. The read comes from the last 12 quarters of growth (revenue growth +5.5% latest, profit growth −20.5% latest, eps growth −18.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Excel Industries Ltd in an uptrend?
No — the price is in a downtrend (week 49 of stage 4), trading −0.9% versus its 200-day average and at 44% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Excel Industries Ltd beating the market?
On recent form, yes — Excel Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 7 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +339% against the NIFTY 500's +259% — ahead of the index over the full window. — as of 11 September 2026.
Will Excel Industries Ltd's share price go up?
This page publishes no price forecast for Excel Industries Ltd. What it measures instead: the share price is ₹981, the price is in a downtrend 49 weeks in. Its P/E of 17.3× sits at the 55th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Excel Industries Ltd?
Promoters hold 51.9% of Excel Industries Ltd, foreign institutions 1.9%, domestic institutions 7.1% and the public 39.2% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 1.0 points over 8 quarters. — as of 11 September 2026.
Does Excel Industries Ltd have too much debt?
No — Excel Industries Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 29×. FY26 borrowings were ₹8.0 Cr against equity of ₹1,703 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Excel Industries Ltd's capex?
Excel Industries Ltd spent ₹169 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹79.0 Cr, with ₹38.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Excel Industries Ltd's cash flow?
Excel Industries Ltd generated ₹53.0 Cr of operating cash flow in FY26 and ₹−26.0 Cr of free cash flow after ₹79.0 Cr of capital spending. Reported profit that year was ₹76.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Excel Industries Ltd's profit real cash?
Yes — over the last 3 fiscal years, 105% of Excel Industries Ltd's reported profit arrived as operating cash. Though the latest year ran at 70% — the trend is the thing to watch. In FY26, operating cash was ₹53.0 Cr against reported profit of ₹76.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Excel Industries Ltd in its business cycle?
Excel Industries Ltd's FY26 operating margin was 10.0%, against a 13-year band of 3.0%–30.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Excel Industries Ltd's price assume?
At its price on 13 June 2026, Excel Industries Ltd was priced for profit growth of about 9.5% a year. Profit itself has compounded 11.3% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Excel Industries Ltd story?
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Excel Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Excel Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!