Excel Crop

Excel Crop Care, now a subsidiary of Japanese company, Sumitomo Chemicals Company posted a very good set of numbers for current Q2FY17. In previous Q2, the company had an exceptional income of Rs.9 crore through sale of non-core assets and despite that advantage, thanks to the good monsoon, Excel ended the quarter much higher – net profit came in at Rs.25 crore, up 31% (YoY). Net sales rose 13% at Rs.274 crore.

The good news here – H1FY17 net profit of Rs.62 crore has already surpassed net profit of FY16 of Rs.59 crore.   With two more quarters to go, it will be a bumper end this fiscal.

A debt free company, the Shroff family sold its 24.72% entire stake to Sumitomo Chemicals of Japan ceasing to be the promoters of the company. Sumitomo now holds 64.94% stake, making Excel its subsidiary. 

Equity capital stands low at Rs.5.50 crore and annualized EPS stands at Rs.113 (FV of Rs.5/share). Reserve is healthy at Rs.374 crore.