WEBSITE BSE:0 NSE: Inc. Year: 2021 Industry: Steel & Iron Products My Bucket: Add Stock
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1. Business Overview
Excellent Wires And Packaging Ltd. is an Indian company operating in the Steel & Iron Products sector. Based on its name and industry, the company likely specializes in the manufacturing and distribution of various types of steel wires and potentially steel-related packaging materials. Its core business model revolves around procuring raw steel or related inputs, processing them into finished wire products (such as galvanized wire, barbed wire, binding wire, etc.) and potentially packaging solutions, and then selling these to industrial clients, infrastructure projects, or other businesses. The company generates revenue by selling these manufactured products to its customer base.
2. Key Segments / Revenue Mix
Without specific financial data, the company's revenue would primarily be derived from its manufacturing and sales operations. Based on the name, potential key segments could include:
Wire Products: Manufacturing and sale of various steel wires.
Packaging Products: Manufacturing and sale of packaging solutions, likely using steel or related materials.
Actual segment contributions are not publicly available without access to financial reports.
3. Industry & Positioning
Excellent Wires And Packaging Ltd. operates within the Indian steel and iron products industry, a critical sector for the country's economic development. This industry is generally characterized by its cyclical nature, high capital intensity, and sensitivity to raw material prices (iron ore, coking coal) and demand from end-user sectors like construction, infrastructure, automotive, and manufacturing. The wires and packaging sub-segment can be fragmented, with numerous regional and national players. The company's positioning would depend on its production capacity, product specialization, geographic reach, cost efficiency, and customer relationships. Without specific market share data, it is challenging to ascertain its exact standing relative to larger integrated steel producers or specialized wire manufacturers, but it likely competes in a specialized niche within the broader steel market.
4. Competitive Advantage (Moat)
Given the nature of steel wire and packaging products, which can often be commoditized, a strong, durable competitive advantage is not immediately apparent without further company-specific details. Potential areas for a moat, if developed, could include:
Cost Advantage: Highly efficient manufacturing processes, strategic raw material sourcing, or advantageous logistics could lead to a cost leadership position.
Product Specialization: Developing highly specialized wires for niche industrial applications or proprietary packaging solutions that command premium pricing or create switching costs for customers.
Customer Relationships & Distribution: Strong, long-standing relationships with key industrial clients and an effective distribution network could provide some stickiness.
However, in general, commodity-based businesses face challenges in building strong moats due to price competition and relatively low switching costs.
5. Growth Drivers
Key factors that could drive Excellent Wires And Packaging Ltd.'s growth over the next 3-5 years include:
Infrastructure Development: Significant government spending on roads, railways, housing, and urban infrastructure in India will directly boost demand for steel products, including wires and related construction materials.
Industrialization & Manufacturing Growth: Expansion of manufacturing sectors (e.g., automotive, engineering, consumer goods) will increase demand for industrial wires and packaging solutions.
Urbanization: Growing urban populations drive demand for residential and commercial construction, requiring various steel products.
Product Diversification & Value Addition: Introduction of new, higher-margin wire products or specialized packaging solutions to cater to evolving industry needs.
Export Opportunities: Tapping into international markets if the company achieves competitive pricing and quality standards.
6. Risks
Excellent Wires And Packaging Ltd. faces several risks common to the steel industry:
Commodity Price Volatility: Fluctuations in the prices of raw materials (iron ore, scrap, zinc for galvanization) and finished steel products can significantly impact profit margins.
Economic Cyclicality: The steel industry is highly sensitive to economic cycles; downturns in construction, manufacturing, or overall GDP growth can lead to reduced demand.
Intense Competition: The Indian steel market is competitive, with large integrated players and numerous smaller manufacturers, which can lead to pricing pressures.
Regulatory & Environmental Changes: Stricter environmental regulations, trade policies (e.g., import duties, anti-dumping measures), or changes in industrial policy could affect operations and costs.
Interest Rate Sensitivity: As a capital-intensive industry, high interest rates can increase borrowing costs for expansion or working capital.
Supply Chain Disruptions: Geopolitical events or natural disasters can disrupt the supply of raw materials or distribution networks.
7. Management & Ownership
As is common for many Indian companies, Excellent Wires And Packaging Ltd. is likely promoted by a founder group or a family, which typically holds a significant ownership stake and guides the company's strategic direction. Without specific details on the current management team, it is difficult to assess their individual quality, experience, or corporate governance practices. Ownership structure would typically involve the promoter group holding a majority stake, with the remaining shares possibly held by institutional investors, retail investors, and potentially employees.
8. Outlook
Excellent Wires And Packaging Ltd. operates in a sector poised to benefit from India's long-term economic growth and infrastructure push. The ongoing demand for steel in construction, manufacturing, and other industrial applications presents a favorable backdrop. The company's specialization in wires and packaging could allow it to cater to specific niche demands. However, the cyclical and commodity-driven nature of the steel industry means that profitability will remain sensitive to raw material price volatility, economic slowdowns, and intense competition. While a growing economy provides tailwinds, the company's ability to differentiate its products, achieve cost efficiencies, and navigate market fluctuations will be crucial for sustained growth and profitability. Investors would need to evaluate its specific financial performance, debt levels, and management's strategic execution to form a comprehensive view.
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Market Cap ₹65 Cr.
Stock P/E 58.4
P/B 3.4
Current Price ₹146
Book Value ₹ 42.8
Face Value 10
52W High ₹144
Dividend Yield 0%
52W Low ₹ 36.9
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) |
|---|
| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 7 | 14 | 15 | 22 | |
| Other Income | 0 | 0 | 0 | 0 | |
| Total Income | 7 | 14 | 15 | 22 | |
| Total Expenditure | 7 | 14 | 14 | 20 | |
| Operating Profit | 0 | 0 | 1 | 2 | |
| Interest | 0 | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | 0 | |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | |
| Profit Before Tax | 0 | 0 | 1 | 1 | |
| Provision for Tax | 0 | 0 | 0 | 0 | |
| Profit After Tax | 0 | 0 | 1 | 1 | |
| Adjustments | 0 | 0 | 0 | 0 | |
| Profit After Adjustments | 0 | 0 | 1 | 1 | |
| Adjusted Earnings Per Share | 3 | 6.5 | 2.9 | 2.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 47% | 46% | 0% | 0% |
| Operating Profit CAGR | 100% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 205% | NA% | NA% | NA% |
| ROE Average | 10% | 46% | 52% | 52% |
| ROCE Average | 12% | 22% | 20% | 20% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | 0 | 0 | 4 | 19 |
| Minority's Interest | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 2 | 3 | 3 | 1 |
| Total Liabilities | 2 | 3 | 7 | 20 |
| Fixed Assets | 0 | 0 | 2 | 4 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Total Current Assets | 2 | 3 | 5 | 16 |
| Total Assets | 2 | 3 | 7 | 20 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 1 |
| Cash Flow from Operating Activities | 0 | 0 | 0 | -6 |
| Cash Flow from Investing Activities | -0 | -0 | -2 | -8 |
| Cash Flow from Financing Activities | -0 | -0 | 3 | 14 |
| Net Cash Inflow / Outflow | -0 | 0 | 1 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 1 | 1 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.96 | 6.52 | 2.94 | 2.5 |
| CEPS(Rs) | 3.77 | 8.53 | 3.16 | 3.53 |
| DPS(Rs) | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.18 | 10.69 | 14.18 | 42.77 |
| Core EBITDA Margin(%) | 2.28 | 2.9 | 9.44 | 7.95 |
| EBIT Margin(%) | 2.1 | 2.68 | 9.03 | 6.97 |
| Pre Tax Margin(%) | 0.89 | 0.98 | 7.26 | 6.57 |
| PAT Margin (%) | 0.65 | 0.72 | 5.34 | 5.03 |
| Cash Profit Margin (%) | 0.83 | 0.94 | 5.74 | 7.12 |
| ROA(%) | 1.95 | 3.65 | 15.79 | 8.19 |
| ROE(%) | 70.81 | 87.68 | 39.7 | 9.67 |
| ROCE(%) | 13.26 | 21.71 | 32.25 | 12.22 |
| Receivable days | 67.15 | 37.37 | 46.85 | 53.97 |
| Inventory Days | 41.56 | 26.28 | 33.95 | 41.33 |
| Payable days | 70.33 | 29.69 | 19.52 | 11.87 |
| PER(x) | 0 | 0 | 0 | 18.81 |
| Price/Book(x) | 0 | 0 | 0 | 1.1 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.15 | 0.15 | 0.12 | 0.67 |
| EV/Core EBITDA(x) | 6.62 | 5.03 | 1.26 | 7.36 |
| Net Sales Growth(%) | 0 | 98.74 | 6.38 | 44.05 |
| EBIT Growth(%) | 0 | 153 | 258.52 | 11.18 |
| PAT Growth(%) | 0 | 120.51 | 688.3 | 35.82 |
| EPS Growth(%) | 0 | 120.51 | -54.95 | -14.92 |
| Debt/Equity(x) | 16.32 | 13.13 | 0.56 | 0 |
| Current Ratio(x) | 0.98 | 1.04 | 1.62 | 15.45 |
| Quick Ratio(x) | 0.62 | 0.62 | 1.1 | 12.11 |
| Interest Cover(x) | 1.73 | 1.58 | 5.1 | 17.36 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 |
| # | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 65.01 | 65.08 | 65.08 | 65.08 |
| FII | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 |
| Public | 34.99 | 34.92 | 34.92 | 34.92 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0.29 | 0.29 | 0.29 | 0.29 |
| FII | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 |
| Public | 0.16 | 0.16 | 0.16 | 0.16 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0.45 | 0.45 | 0.45 | 0.45 |
* The pros and cons are machine generated.
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