Excel Realty N Infra Ltd (EXCEL) AI Stock Analysis

• Market Cap: ₹1.44B
• Dividend Yield: N/A
• Average Volume (3M): 2.83M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: 181.64%
• EPS Growth: -93.08%
• Country: IN
• Employees: 6
• Sector: Real Estate
• Sector Strength: 53
• Industry: Conglomerates
• EPS (TTM): >-0.01
• Shares Outstanding: 1,410,695,100
• 10 Day Avg. Volume: 2,088,467
• 30 Day Avg. Volume: 2,825,790
• PEG Ratio: 1.69
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 3.86
• P/FCF Ratio: -7.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹0.99 ▼(-30.14% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is primarily constrained by weak profitability and negative cash flows despite a comparatively stable, low-leverage balance sheet. Technical indicators also lean bearish, while valuation provides limited support due to loss-making earnings and no dividend yield data.

Positive Factors

Low leverage / strong equity base

A robust equity ratio and low leverage provide durable financial stability, lowering solvency risk and preserving flexibility to fund capex or acquisitions without heavy refinancing. This structural advantage helps the company withstand downturns and supports long-term strategic choices.

Top-line growth

Sustained revenue growth near 10% indicates underlying demand and the ability to expand scale. Over 2-6 months this trend supports investment in distribution or product capabilities, enhancing the chance to convert scale into margin improvement if cost structure is managed.

Moderate gross margins

A moderate gross margin gives a structural cushion to absorb operating expenses and pursue margin recovery. If management can stabilize SG&A and reduce volatility, these intermediate margins provide a realistic route to consistent profitability over the medium term.

Negative Factors

Negative operating cash flow

Persistent negative operating and free cash flows create lasting liquidity risk and force reliance on external financing or equity. This undermines the firm's ability to self-fund growth, increases funding costs, and can constrain capital allocation and resilience in protracted weak-profit periods.

Inconsistent profitability

Repeated profitability volatility and episodes of losses indicate structural challenges in converting revenue into sustained net income. This reduces retained earnings, depresses return on equity, and complicates long-term planning, investor confidence, and the ability to build durable competitive advantage.

Very small workforce

An extremely small employee base limits internal capacity to scale operations, manage projects, and diversify key-person risk. Long-term growth may depend heavily on third parties or concentrated management effort, raising execution risk and making sustained operational scaling more difficult.

Excel Realty N Infra Ltd Business Overview & Revenue Model

Company Description

Excel Realty N Infra Limited engages in the infra, information technology (IT), business process outsourcing (BPO), and general trading activities in India. It operates through three segments: Infrastructure, BPO/IT Enabled Services, and General Trading. The company provides general trading and business process outsourcing services; and develops infrastructure facilities. It also offers customer care services, and inbound and outbound services, as well as handles the business relations of clients on their behalf. The company was formerly known as Excel Infoways Limited and changed its name to Excel Realty N Infra Limited in May 2015. Excel Realty N Infra Limited was incorporated in 2003 and is based in Mumbai, India.

How the Company Makes Money

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Excel Realty N Infra Ltd Financial Statement Overview

Summary

Financials are mixed: the balance sheet is relatively strong (low leverage/high equity), but the income statement shows volatile revenue and inconsistent profitability, and cash flows are weak with negative operating and free cash flow—raising liquidity and sustainability concerns.

Income Statement

Excel Realty N Infra Ltd has shown volatile revenue trends with significant fluctuations in profitability. The gross profit margin is moderate, and net profit margins show inconsistency, with frequent periods of losses. Recent revenue growth is positive, however, the company needs to stabilize profitability to boost confidence.

Balance Sheet

The company has a strong equity base with a low debt-to-equity ratio, indicating high financial stability. The equity ratio is robust, affirming asset financing primarily through equity. However, the company must focus on improving its return on equity to maximize shareholder value.

Cash Flow

Cash flow performance is concerning, with negative operating cash flows and free cash flows over recent periods. This indicates potential liquidity challenges. The company needs to enhance cash flow management and ensure operational cash inflow aligns with profitability targets.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	163.48M	136.27M	25.77M	65.55M	87.46M	76.20M
Gross Profit	552.00K	54.56M	-4.29M	2.78M	3.39M	3.52M
EBITDA	4.61M	9.42M	13.35M	-31.93M	-36.10M	11.36M
Net Income	1.51M	6.91M	9.68M	-3.34M	-39.46M	7.88M
Balance Sheet
Total Assets	1.78B	1.78B	1.76B	1.78B	1.79B	1.78B
Cash, Cash Equivalents and Short-Term Investments	37.46M	15.17M	23.27M	60.85M	17.92M	13.70M
Total Debt	8.62M	9.43M	396.50K	1.04M	2.88M	5.14M
Total Liabilities	28.93M	44.42M	33.45M	64.54M	107.22M	57.13M
Stockholders Equity	1.75B	1.73B	1.72B	1.71B	1.68B	1.72B
Cash Flow
Free Cash Flow	6.09B	-68.02M	-71.19M	45.65B	7.28M	-3.27M
Operating Cash Flow	6.09B	-59.19M	-71.19M	45.65B	7.28M	-3.27M
Investing Cash Flow	-3.78B	42.21M	34.40M	-411.34M	-447.48K	4.13M
Financing Cash Flow	-81.03M	8.89M	-786.37K	-2.18M	-2.61M	-2.61M

Excel Realty N Infra Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.41
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EXCEL, the sentiment is Negative. The current price of 1.41 is above the 20-day moving average (MA) of 1.08, above the 50-day MA of 1.17, and above the 200-day MA of 1.27, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 41.43 is Neutral, neither overbought nor oversold. The STOCH value of 27.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EXCEL.

Excel Realty N Infra Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
RUCHINFRA	60 Neutral	₹1.21B	-78.97	―	―	-3.62%	459.63%
VIPULLTD	50 Neutral	₹1.57B	36.46	―	―	-81.06%	-108.05%
LANCORHOL	49 Neutral	₹1.51B	-233.07	―	0.80%	4.65%	-137.16%
PRAENG	48 Neutral	₹1.36B	-39.95	―	―	-35.09%	34.18%
EXCEL	45 Neutral	₹1.44B	-189.52	―	―	181.64%	-93.08%
HDIL	44 Neutral	₹1.01B	-7.38	―	―	―	―

Excel Realty N Infra Ltd Corporate Events

Landsmill Green Secures SEBI Compliance Nod for Name Change Without Business Shift

Landsmill Green Limited, previously Excel Realty N Infra Limited, remains primarily engaged in trading activities, with 50 percent of its total revenue over the preceding year generated from this segment. The company confirms there is no change in its line of business alongside the proposed rebranding, suggesting continuity in its operational and market focus.

The company has obtained a certificate from a practicing chartered accountant under Regulation 45 of SEBI’s Listing Obligations and Disclosure Requirements for its proposed name change. This certification, based on revenue composition and regulatory conditions, supports the formal transition to the Landsmill Green Limited identity without altering underlying business activities or asset deployment.

Excel Realty N Infra Publishes Q3 FY2025 Unaudited Results in Newspapers

Excel Realty N Infra Ltd has notified the stock exchanges that it has published the extract of its unaudited financial results for the quarter ended 31 December 2025 in the Financial Express (English) and Mumbai Lakshadweep (Marathi) newspapers dated 31 January 2026, in compliance with Regulation 47 of SEBI’s Listing Obligations and Disclosure Requirements. The move reflects the company’s adherence to mandated disclosure norms, ensuring public access to quarterly financial performance data for investors and other stakeholders through widely circulated print media.

Excel Realty N Infra Wins Shareholder Backing for Capital Expansion, Governance Changes and Higher Foreign Investment Limits

Excel Realty N Infra Limited has secured shareholder approval via postal ballot and e-voting for a comprehensive set of corporate actions, including an increase in authorised share capital, amendments to the objects clause of its Memorandum of Association, a change in the company’s name, and enhancements to borrowing and investment limits, particularly for non-resident and foreign investors. The shareholders also ratified significant board-level changes, appointing Garvit Agarwal as Whole-Time Director, appointing Runel Saxena as a Non-Executive Independent Director, re-designating Ankit Mehra as Managing Director, and re-designating Lakhmendra Chamanlal Khurana as a Director, collectively signalling a strategic repositioning of the company’s capital structure, governance framework, and foreign investment readiness, which may enable more aggressive expansion and greater access to domestic and international funding sources.

Excel Realty N Infra Secures Shareholder Nod on Capital, Governance and Investment Proposals via Postal Ballot

Excel Realty N Infra Limited has announced the outcome of a postal ballot process conducted via e-voting, through which shareholder approval was sought for a broad package of corporate actions including an increase in authorised share capital, changes to the object clause of the Memorandum of Association, multiple board-level appointments and re-designations, a change of the company’s name, and enhanced borrowing and security-creation powers. The proposals also seek to raise statutory limits for investments by Non-Resident Indians, Overseas Citizens of India, Foreign Institutional Investors and Foreign Portfolio Investors, signalling an effort to strengthen the company’s capital structure, governance framework and access to both domestic and foreign capital, with potential implications for its growth strategy and market positioning.

Excel Realty N Infra Files SEBI Demat Compliance Certificate for December Quarter

Excel Realty N Infra Limited has submitted a compliance certificate for the quarter ended 31 December 2025 under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, to both BSE and NSE. The certificate, issued by its registrar MUFG Intime India Private Limited, confirms that all securities received for dematerialisation during the quarter were duly processed, listed on the appropriate exchanges, and that corresponding physical certificates were verified, cancelled and replaced in the register of members within prescribed timelines, underscoring the company’s adherence to regulatory and depository norms for its shareholders.