Excel Industries Ltd stands as a prominent chemical manufacturer in India, operating for over seven decades since its establishment in 1941. The company has earned a reputation for offering only the best quality products, evolving from its humble beginnings to become a diversified chemical enterprise with a strong presence in multiple market segments.
The company is organized into two primary business segments:
- Chemicals Segment: This segment focuses on the manufacture of specialty chemicals, intermediates, and active ingredients. These products cater to various end-user industries such as Agrochemicals, Water Treatment, Soaps & Detergents, Lube Oil Additives, Mining Chemicals, Polymer Additives, and Pharmaceuticals. The majority of Excel Industries' revenues are generated from this segment.
- Environment and Biotech Segment: This segment encompasses activities related to Organic waste management (composting), Municipal solid waste management, Plastic waste management, and Construction and demolition waste management.
Excel Industries' product range includes Agrochemical intermediates, Pharmaceutical APIs (Active Pharmaceutical Ingredients), Specialty chemicals, and Polymer Inputs. The company possesses particular expertise in phosphorus-based intermediates, which are crucial for manufacturing key pesticides used in crop protection across diverse agricultural segments, including grains, cereals, pulses, fruits, and vegetables.
Excel Industries operates multiple manufacturing facilities across India, with major plants located at Roha, Lote, and Visakhapatnam. The company has consistently invested in expanding its manufacturing capabilities:
- In 2021-22, a Multipurpose plant was constructed at the Lote site to increase capacity for specialty chemical intermediates.
- The capacity for Phosphonate was further expanded at the Lote site.
- The company commissioned a Phosphorus Trichloride (PCL3) Plant at the Lote site in FY 2024.
- The company has demonstrated a strong commitment to environmental sustainability, enhancing Waste Water treatment capabilities at both Roha & Lote sites to progressively move towards Zero Liquid Discharge (ZLD) capabilities.
Excel Industries has demonstrated a remarkable financial turnaround in recent years, showcasing strong growth in both revenue and profitability.
For the full year ended March 2025:
- Net profit surged by 401.53% to ₹85.31 crore, compared to ₹17.01 crore in the previous year (FY24).
- Sales increased by 18.39% to ₹978.07 crore, up from ₹826.14 crore in FY24.
The company's quarterly performance for Q4 FY25 also showed robust growth:
- Net profit rose by 86.06% to ₹12.41 crore, compared to ₹6.67 crore in Q4 FY24.
- Sales increased by 6.12% to ₹247.84 crore, up from ₹233.54 crore in Q4 FY24.
- Revenue (FY25): ₹978.07 Crore
- Net Profit (FY25): ₹85.31 Crore
- EBITDA (FY25): ₹121 Crore
- Market Capitalization: ₹1,617.64 Crore (as of July 3, 2025)
- 52-week High: ₹1,760.00
- 52-week Low: ₹799.10
- Promoter Holding: 52.30% (as of Mar 2025)
Excel Industries has ambitious plans for future growth and expansion. The company reported FY25 revenue of ₹978 crore and EBITDA of ₹121 crore, and plans for a significant capital expenditure (capex) of ₹200-300 crore. This capex is earmarked for biocide capacity expansion and securing new supply contracts, indicating a strong commitment to growth across its business segments.
The company is also focusing on automation and technology upgrades across its facilities. Notable initiatives include:
- Automation executed in a major agrochemical plant in Roha for time cycle reduction and improved environmental impact.
- Audits of boiler and steam transmission lines by external experts to minimize steam transmission losses.
- Provision of additional equipment in the boiler to increase fuel combustion efficiency, leading to better fuel economy.
Excel Industries maintains a stable ownership structure, reflecting confidence from its promoter group. Promoter holding in Excel Industries Ltd increased to 52.30% as of March 2025, up from 52.21% as of June 2024, indicating continued belief in the company's future prospects.
The company's financial stability has been recognized by credit rating agencies. CRISIL revised Excel Industries' long-term rating outlook to 'Stable' from 'Negative', while reaffirming the rating at A+. This improvement in rating outlook underscores the company's enhanced financial performance and positive business prospects.
Excel Industries Ltd represents a compelling investment opportunity in the chemical manufacturing sector, with its diversified product portfolio, strong financial performance, and strategic expansion plans positioning it well for sustained growth in the Indian chemical industry.
