Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Excel Industries Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 226 | 214 | 198 | 180 | 234 | 265 | 269 | 196 | 248 | 310 | 270 | 234 | 281 |
| Expenses + | 215 | 207 | 195 | 179 | 221 | 226 | 220 | 184 | 228 | 267 | 240 | 218 | 259 |
| Operating Profit | 11 | 8 | 3 | 1 | 12 | 39 | 49 | 12 | 20 | 42 | 30 | 16 | 22 |
| OPM % | 5% | 4% | 1% | 1% | 5% | 15% | 18% | 6% | 8% | 14% | 11% | 7% | 8% |
| Other Income + | 3 | 9 | 7 | 11 | 5 | 11 | 8 | 5 | 6 | 12 | 7 | 5 | 3 |
| Interest | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 |
| Depreciation | 8 | 9 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 10 |
| Profit before tax | 5 | 8 | 2 | 4 | 9 | 41 | 47 | 8 | 16 | 44 | 27 | 11 | 15 |
| Tax % | 57% | 24% | 9% | 34% | 25% | 25% | 24% | 26% | 24% | 24% | 23% | 25% | 16% |
| Net Profit + | 2 | 6 | 2 | 3 | 7 | 31 | 36 | 6 | 12 | 34 | 21 | 8 | 12 |
| EPS in Rs | 1.72 | 4.68 | 1.42 | 2.13 | 5.31 | 24.68 | 28.38 | 4.93 | 9.87 | 26.86 | 16.86 | 6.71 | 9.77 |
Financials of Excel Industries Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 482 | 448 | 462 | 599 | 825 | 702 | 749 | 1,178 | 1,090 | 826 | 978 | 1,095 |
| Expenses + | 409 | 385 | 419 | 474 | 574 | 571 | 628 | 946 | 961 | 801 | 857 | 985 |
| Operating Profit | 72 | 63 | 44 | 125 | 250 | 131 | 122 | 232 | 129 | 25 | 121 | 110 |
| OPM % | 15% | 14% | 9% | 21% | 30% | 19% | 16% | 20% | 12% | 3% | 12% | 10% |
| Other Income + | 7 | 3 | 9 | 4 | 5 | 10 | 9 | 15 | 12 | 32 | 29 | 27 |
| Interest | 14 | 13 | 11 | 7 | 3 | 4 | 3 | 3 | 3 | 3 | 4 | 2 |
| Depreciation | 15 | 15 | 14 | 15 | 18 | 23 | 27 | 31 | 31 | 31 | 34 | 37 |
| Profit before tax | 51 | 38 | 27 | 107 | 234 | 115 | 101 | 213 | 106 | 23 | 113 | 98 |
| Tax % | 19% | 31% | 26% | 31% | 34% | 16% | 29% | 24% | 24% | 25% | 24% | 23% |
| Net Profit + | 41 | 26 | 20 | 74 | 153 | 96 | 71 | 161 | 80 | 17 | 85 | 76 |
| EPS in Rs | 34.59 | 20.18 | 15.93 | 58.78 | 122.07 | 76.42 | 56.55 | 128.23 | 63.59 | 13.53 | 67.86 | 60.20 |
| Dividend Payout % | 20% | 22% | 38% | 21% | 15% | 13% | 20% | 18% | 18% | 41% | 20% | 23% |
Financials of Excel Industries Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 180 | 204 | 404 | 526 | 693 | 695 | 845 | 1,143 | 1,235 | 1,421 | 1,582 | 1,697 |
| Borrowings + | 95 | 89 | 68 | 10 | 7 | 24 | 9 | 7 | 3 | 2 | 12 | 8 |
| Other Liabilities + | 106 | 121 | 141 | 186 | 209 | 212 | 251 | 330 | 248 | 367 | 319 | 394 |
| Total Liabilities | 387 | 421 | 619 | 728 | 916 | 937 | 1,111 | 1,487 | 1,493 | 1,795 | 1,920 | 2,105 |
| Fixed Assets + | 158 | 164 | 183 | 203 | 238 | 376 | 389 | 427 | 428 | 428 | 459 | 476 |
| CWIP | 3 | 3 | 8 | 23 | 12 | 10 | 17 | 21 | 19 | 19 | 13 | 38 |
| Investments | 23 | 27 | 211 | 282 | 394 | 264 | 365 | 547 | 625 | 984 | 1,085 | 1,126 |
| Other Assets + | 204 | 227 | 216 | 220 | 272 | 287 | 340 | 492 | 421 | 365 | 364 | 466 |
| Total Assets | 387 | 421 | 619 | 728 | 916 | 937 | 1,111 | 1,487 | 1,493 | 1,795 | 1,920 | 2,105 |
Financials of Excel Industries Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 44 | 46 | 31 | 119 | 135 | 110 | 91 | 109 | 125 | 72 | 62 | 53 |
| Cash from Investing Activity + | -27 | -27 | 16 | -45 | -111 | -61 | -53 | -104 | -118 | -51 | -41 | -25 |
| Cash from Financing Activity + | -23 | -17 | -48 | -73 | -24 | -31 | -17 | -17 | -35 | -17 | -16 | -27 |
| Net Cash Flow | -6 | 1 | -1 | 1 | -0 | 17 | 21 | -12 | -27 | 4 | 4 | 1 |
| Free Cash Flow | 13 | 21 | -6 | 67 | 90 | 44 | 43 | 35 | 94 | 41 | 19 | -25 |
| CFO/OP | 75% | 104% | 108% | 116% | 85% | 105% | 94% | 68% | 120% | 314% | 52% | 65% |
Financials of Excel Industries Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 80 | 103 | 95 | 76 | 70 | 78 | 84 | 62 | 52 | 82 | 81 | 87 |
| Inventory Days | 103 | 99 | 86 | 79 | 75 | 90 | 71 | 103 | 78 | 80 | 70 | 78 |
| Days Payable | 84 | 112 | 98 | 123 | 108 | 122 | 126 | 112 | 64 | 139 | 102 | 91 |
| Cash Conversion Cycle | 99 | 90 | 83 | 32 | 36 | 46 | 29 | 52 | 67 | 23 | 49 | 74 |
| Working Capital Days | 28 | 27 | 42 | 50 | 57 | 49 | 51 | 61 | 61 | 47 | 58 | 106 |
| ROCE % | 24% | 18% | 10% | 22% | 38% | 17% | 13% | 21% | 9% | 2% | 7% | 6% |