This smallcap speciality chemical stock hit the upper circuit after posting phenomenal Q3FY22 results

With this surge, Excel Industries topped the BSE gainers list, followed by Unique Organics Ltd and SNL Bearings Ltd.

While the S&P BSE Sensex is down by more than 2 per cent, Excel Industries Ltd witnessed a strong rally in its share price right from the start of the trading session.  

The company has hit the upper circuit of 20 per cent after it posted its Q3FY22 results on Friday, after the market hours.

Let’s take a look at the results that catalyzed this surge 

In Q3FY22, on a consolidated basis, the company’s net revenue increased by 64.12 per cent YoY to Rs 350.52 crore. The PBIDT (ex OI) has advanced by 159 per cent, while the corresponding margin expanded by 1074 bps YoY to 29.30 per cent. The PAT rallied by 198 per cent YoY to Rs 77.85 crore, while the corresponding margin expanded by 997 bps to 22.21 per cent.  

Incorporated in 1941, Excel Industries Ltd was one of India’s first domestic chemical manufacturers. Over the years, the company has expanded to manufacture industrial chemicals, speciality chemicals, bio-fertilizers and bio-remediation technologies.  

At 2.30 PM the shares of Excel Industries Ltd were trading at Rs 1163.10, up by 20 per cent in Monday's trading session.