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Excel IndustriesNSE:EXCELINDUS +1.95%71 Return-on-Tangible-Equity is 2.92% as of Mar. 2026, which is 64% below its 10-year median of 8.10. GuruFocus rates NSE:EXCELINDUS with a GF Score™ of 71/100 and a GF Value™ of ₹1,167.57 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,568 Chemicals companies, Excel Industries ranks worse than 57.33% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Excel Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹491 Mil. Excel Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹16,803 Mil. Therefore, Excel Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 2.92%.
The historical rank and industry rank for Excel Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:EXCELINDUS'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 1.29 Med: 8.1 Max: 24.93
Current: 4.51
During the past 13 years, Excel Industries's highest Return-on-Tangible-Equity was 24.93%. The lowest was 1.29%. And the median was 8.10%.
NSE:EXCELINDUS's Return-on-Tangible-Equity is ranked worse than 57.33% of 1568
companies
in the Chemicals industry
Industry Median: 5.785
vs NSE:EXCELINDUS: 4.51
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Excel Industries Return-on-Tangible-Equity Related Terms
Excel Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Excel Industries's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:EXCELINDUS vs LIN, SHW, ECL: Return-on-Tangible-Equity Comparison
For the Specialty Chemicals subindustry, Excel Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Excel Industries Return-on-Tangible-Equity vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Excel Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Excel Industries's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 2.92% mean?
Excel Industries (NSE:EXCELINDUS) has a Return-on-Tangible-Equity of 2.92% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Excel Industries and its competitors. This is 64% below median its historical median of 8.10. Over the past decade, Excel Industries' Return-on-Tangible-Equity has ranged from 1.29 to 24.93. According to the industry distribution chart, Excel Industries ranks #899 out of 1568 companies in the Chemicals industry, placing it in the top 57.3%.
Is Excel Industries' Return-on-Tangible-Equity too high?
Excel Industries' current Return-on-Tangible-Equity of 2.92% is 64% below median its 10-year median of 8.10. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 24.93. The Chemicals industry median Return-on-Tangible-Equity is 5.79. Excel Industries' value of 2.92% is 49.5% below this industry median. Based on the distribution chart, Excel Industries ranks #899 out of 1568 companies in the Chemicals industry, which is below the industry midpoint. Overall, Excel Industries has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Excel Industries' Return-on-Tangible-Equity compare to LIN and SHW?
According to the Chemicals industry distribution chart, Excel Industries ranks #899 out of 1568 companies for Return-on-Tangible-Equity. This places Excel Industries in the lower half of its industry. The industry median Return-on-Tangible-Equity is 5.79. Excel Industries' value of 2.92% is 49.5% below this benchmark. Historically, Excel Industries' own Return-on-Tangible-Equity has ranged from 1.29 to 24.93 over the past decade. While the company's 10-year median is 8.10 vs. the industry median of 5.79, Excel Industries has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Chemicals company?
The median Return-on-Tangible-Equity among Chemicals companies is 5.79, based on 1,568 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Excel Industries's current Return-on-Tangible-Equity of 2.92% is 49.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Excel Industries and its competitors. For the Chemicals industry, the median Return-on-Tangible-Equity is 5.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Excel Industries's current Return-on-Tangible-Equity is 2.92%, which is 64% below median its own 10-year median of 8.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Excel Industries stock overvalued right now?
Based on GuruFocus' analysis, Excel Industries (NSE:EXCELINDUS) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,167.57, compared to a current price of ₹932.15 — trading 20.2% below its estimated fair value. The current Return-on-Tangible-Equity is 2.92%, which is 64% below median its 10-year median of 8.10 and 49.5% below the Chemicals industry median of 5.79. Excel Industries' overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Excel Industries (NSE:EXCELINDUS), the current Return-on-Tangible-Equity is 2.92% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Excel Industries (NSE:EXCELINDUS) Overvalued in 2026?
Based on GuruFocus' analysis, Excel Industries stock appears to be undervalued.
The current stock price of ₹932.15 is trading 20.2% below its estimated GF Value™ of ₹1,167.57.
GuruFocus considers Excel Industries to be Modestly Undervalued.
Key valuation signals for NSE:EXCELINDUS:
Return-on-Tangible-Equity: 2.92% (64% below median its 10-year median of 8.10)
GF Value™: ₹1,167.57 vs. price of ₹932.15 (20.2% below fair value)
Industry Position: 49.5% below the Chemicals median (#899 of 1568)
No single metric tells the full story. See the NSE:EXCELINDUS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Excel Industries Ltd is a chemical manufacturer based in India. The company is organized into two business segments namely; Chemicals segment which comprises of manufacture of speciality chemicals, intermediates and actives catering to various end user segments like Agrochemicals, Water Treatment, Soaps & Detergents, Lube Oil Additives, Mining Chemicals, Polymer Additives and Pharmaceuticals; and Environment and Biotech segment which comprises of Organic waste management composting, Municipal solid waste management, Plastic waste management and Construction and demolition waste management. The majority of its revenues come from Chemicals segment. It generates maximum revenue from within India.
71GF Score
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