Excel Industries Limited Earnings Summary — Q1 FY2027
Excel Industries Reports Revenue and Profit Contraction in Q1 FY2027 Amidst Margin Pressures
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 3 consecutive quarters.
- Revenue of ₹294 Cr is 5.1% lower year-on-year.
- Revenue has compounded at 10.7% annualised over the last 10 quarters.
- Net profit of ₹29 Cr is 12.7% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 93.5% annualised across the period.
- Operating margin stands at 14.4% in Q1 FY2027.
- Operating margin expanded by 79 bps year-on-year.
- Over the last two years operating margin has contracted by 12 bps.
- PBT margin is 13.2%.
- Expense growth of -5.9% remained below revenue growth of -5.1%.
- Operating profit of ₹42 Cr is 0.5% higher year-on-year.
- Operating leverage continues to improve.
- 5 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 64/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 294 | 281 | 234 | 270 | 310 | 248 | 196 | 269 | 265 | 234 |
| Expenses | Stable | 251 | 259 | 218 | 240 | 267 | 228 | 184 | 220 | 226 | 221 |
| Operating Profit | Improving | 42 | 22 | 16 | 30 | 42 | 20 | 12 | 49 | 39 | 12 |
| Operating Margin | Volatile | 14.4% | 7.8% | 6.7% | 11.1% | 13.6% | 7.9% | 6.2% | 18.2% | 14.6% | 5.2% |
| Other Income | Volatile | 7 | 3 | 5 | 7 | 12 | 6 | 5 | 8 | 11 | 5 |
| Interest | Volatile | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | Stable | 10 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 8 | 8 |
| Profit Before Tax | Improving | 39 | 15 | 11 | 27 | 44 | 16 | 8 | 47 | 41 | 9 |
| Tax | Improving | 9 | 2 | 3 | 6 | 11 | 4 | 2 | 11 | 10 | 2 |
| Net Profit | Improving | 29 | 12 | 8 | 21 | 34 | 12 | 6 | 36 | 31 | 7 |
| Net Margin | Volatile | 10.0% | 4.4% | 3.6% | 7.8% | 10.9% | 5.0% | 3.2% | 13.3% | 11.7% | 2.9% |
Key Takeaways
- Revenue for Q1 FY2027 declined 5.09% YoY to ₹293.73 Cr, though it showed a marginal 4.48% sequential improvement.
- Net profit witnessed a 13.27% YoY contraction, settling at ₹29.11 Cr compared to ₹33.56 Cr in the year-ago period.
- Operating margins recovered significantly on a quarter-on-quarter basis from 4.43% to 11.02%, largely due to a decrease in other expenses and inventory adjustments.
- The Chemicals segment remains the sole reportable business segment, contributing the entirety of the operational revenue.
- Total comprehensive income was bolstered significantly by changes in the fair value of equity instruments, amounting to ₹38.30 Cr for the quarter.
- The company maintains a strong balance sheet position with a massive investment portfolio providing a valuation floor despite core operational volatility.
Management Guidance
Management maintains a long-term focus on niche chemical segments and phosphonates where they hold global leadership, though they note the current environment is impacted by cyclicality in the global chemical downturn.
Sentiment Shift
Stable
While YoY metrics show a decline, the sharp sequential (QoQ) recovery in margins and profitability suggests the company may be stabilizing from the lows seen in the previous quarter.
Outlook
The outlook remains cautious as the company navigates margin compression and lower capital efficiency (ROE at 4.4% in FY26). Performance is highly dependent on pricing power in the Polymer Inputs and Pharma Intermediates segments.
From the Annual Report (Key Quotes)
“The Company operates only in one Business Segment i.e. 'Chemical' which constitutes single reportable segment.”
“Profit for the period (after tax) stood at ₹2,910.75 lakhs for the quarter ended June 30, 2026.”
Official Quarterly Documents
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This summary is AI-generated from Excel Industries Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.