Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Oct - Pursuant to regulation 47 of the SEBI (LODR) Regulations, 2015, we enclose the copies of the Free Press Journal (English) and Navshakti (Marathi) ....
Source: Bse
Excel Industries Limited (EXCELINDUS)
Small CapIndustrials stocks · Small cap · NSE
Excel Industries Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 07:11 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -8.5% / mo · MACD +
Stock trend: 35
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
EXCELINDUSD candles · FIT view-2.6%Latest close ₹903.60 on 2026-10-19
Bar
-3.4%
RSI
37
MACD hist
1.43
52W pos
29%
2026-10-19O ₹934.95H ₹950.00L ₹901.00C ₹903.60Vol 5,550 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
EXCELINDUSNifty India ManufacturingNifty 500
- EXCELINDUS
- +0.4%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +6.0 pp
Chart stats
19 Oct 2026- From 52W high
- -22.6%
- 52W range position
- 28%
- ATR (14)
- 3.2%
- Volume vs 20D
- 0.51x
- Avg traded value
- ₹1 Cr
- 20D price channel
- ₹900 - ₹973.3
₹1,168
₹800.1 - ₹1,168
₹29.3
Latest completed session
20-session average
23.4% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE46
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -5.2% · PAT -14.7% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model-79.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence69
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -5% YoY · PAT -15% YoY · margin compression
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹294 Cr | -5.2% | +4.6% |
| EBITDA | ₹42 Cr | +0.0% | +90.9% |
| Operating margin | 14.0% | +0 bps | +600 bps |
| PAT | ₹29 Cr | -14.7% | +141.7% |
| PAT margin | 9.9% | -111 bps | +559 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 16.10
- P/B
- 0.67
- EV/EBITDA
- 7.81
- Market Cap
- 1148.00Cr
Profitability
- ROE
- 4.62%
- ROCE
- 6.17%
- ROA
- 3.37%
- Dividend Y
- 1.51%
Growth (CAGR)
- Revenue 5Y
- 8.00%
- EPS 5Y
- 2.00%
- Revenue 3Y
- 9.32%
- EPS 3Y
- -2.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 55.00×
- Altman Z
- 3.82
- Book Value
- 1355.00
Cash Flow
- FCF Yield
- 2.44%
- FCF Positive Y
- 12/5
- OCF
- 53.00 Cr
- EPS TTM
- 56.78
Shareholding
- Promoter Hold
- 51.86%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 24%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 294+4.6% vs prev
Net Profit
₹ CrLatest: 29.0+141.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 37. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~9.2% over last month) — short-term momentum negative.
- RSI(14) at 37 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 22% off 52W high · 13% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
45
RS percentile
Stage 1 Base / Transition
1M return
-5.7%
3M return
+0.4%
6M return
-4.5%
1Y return
-20.1%
RS 1D
-3
RS 20D
+2
Sector rank
#2
Industry rank
#54
Stage evidence
- Price is within 5.0% of the 30-week proxy.
- The 30-week proxy changed +0.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 81.18-2.00%
RS vs Nifty 50081
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation15/30
Growth5/25
Quality0/20
Balance Sheet13/15
Cash Flow8/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
46
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
46/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 13/15 to the score.
- Cash flow contributes 8/10 to the score.
Main drags
- Fair-value margin of safety is negative at -79.8%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Growth is weaker at 5/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
16.1
PB
0.7
EV/EBITDA
7.8
ROE
4.6%
ROCE
6.2%
FCF Yield
2.4%
Debt/Equity
0.0
MoS
-79.8%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
46
Previous: 46
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-79.8%
Previous: -79.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
46
46
46
46
46
46
46
46
46
46
46
46
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,315.71
+31.3% MoS
Growth-justified P/E
8.8
Growth-justified Value
₹502.5
-79.8% MoS
PEG
8.05
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DHARMAJ
Small
Dharmaj Crop Guard Limited
Agrochemicals
match 170
48
15.0
13.3%
+65%
FAIR VALUE
IPL
Small
India Pesticides Limited
Agrochemicals
match 169
46
13.8
12.5%
-110%
FAIR VALUE
HERANBA
Small
Heranba Industries Limited
Agrochemicals
match 165
16
—
-9.7%
—
OVERVALUED
ASTEC
Small
Astec LifeSciences Limited
Agrochemicals
match 165
8
—
-25.2%
—
OVERVALUED
IGCL
Small
Indogulf Cropsciences Limited
Agrochemicals
match 164
57
8.9
10.9%
+77%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Excel Industries Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
69Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 59th percentile of the scored universe and 56th percentile within Industrials. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
48 docs text-extracted · 6 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
59th percentile
overall median 67 · Industrials: 56th pctile, median 68 · Small: 63rd pctile, median 66
Evidence depth
Financial-only
48 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
46
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.2%.
- ▸12 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸ROCE is low at 6.1%.
- ▸ROE is low at 4.6%.
- ▸1/4 latest quarters had positive YoY PAT growth.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Excel Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Sep - Excel Industries received EcoVadis Silver Rating, placing it among top 15% globally.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 11 Sep - CRISIL reaffirmed Excel Industries’ ratings; bank facilities increased to Rs200 crore from Rs149.5 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Sep - Pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015, we enclose the copies of the Business Standard (English), Free Press Journal (English) and Navshakti (Marathi) …
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug - We refer to our letter dated 13th August, 2026, informing about the Company''s Unaudited Financial Results for the quarter ended 30th June, 2026. In this …
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Aug - Pursuant to Regulation 47 of the SEBI(LODR) Regulations, 2015, we enclose the copies of the Free Press Journal (English) and Navshakti (Marathi) ....
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 29m - Excel Industries completed a ₹40 Cr project on 23 July 2026 for 5-year specialty chemical supplies.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Management 15 May - Kapil Kashiv, General Manager Strategy, resigned effective 8 June 2026 for personal reasons.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Closure of Trading Window 11 May
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Jun - Pursuant to regulation 47 of the SEBI(LODR) 2015, we are enclosing herewith the Newspaper publications of Postal Ballot Notice which was published ....
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Jun - Pursuant to regulation 47 of the SEBI (LODR) Regulations, 2015, we enclose the copies of the free press journal (English) & Navshakti (Marathi) ....
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.