---
title: "Excel Glasses Ltd (502223) — Share Price, Financials & Analysis"
symbol: "502223"
company: "Excel Glasses Ltd"
canonical: "https://tapetide.com/stocks/502223"
isin: "INE664C01029"
bse_code: "502223"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T19:17:24.429Z"
---

# Excel Glasses Ltd (502223)

Canonical page: https://tapetide.com/stocks/502223

## Company

- **BSE Code:** 502223
- **ISIN:** INE664C01029
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** excelglasses.com

## About

Excel Glasses is engaged in the Business of Manufacturing of Glass Bottles .

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 5Y |
| --- | --- | --- |
| net income growth | 75% | 8% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.07 | 0.01 | 0.16 | 0.05 | 0.02 | 0.09 | -0.99 | 0.45 | 0.08 | 0.09 | 0.11 | 0.14 |
| Operating Profit | -0.07 | -0.01 | -0.16 | -0.05 | -0.02 | -0.09 | 0.99 | -0.45 | -0.08 | -0.09 | -0.11 | -0.14 |
| Other Income | 0.01 | 0.02 | 0 | 0 | 0 | 0.03 | -0.02 | -0.03 | 0 | 0 | 10.88 | 0.11 |
| Interest | 0 | 0 | 0.62 | 0.15 | 0.15 | 0.15 | 0.15 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 31.64 | 0.44 | 0.44 | 0.44 | 5.13 | 1.61 |
| Profit before tax | -0.06 | 0.01 | -0.78 | -0.2 | -0.17 | -0.21 | -30.82 | -0.92 | -0.52 | -0.53 | 5.64 | -1.64 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.06 | 0.01 | -0.78 | -0.2 | -0.17 | -0.21 | -30.82 | -0.93 | -0.52 | -0.53 | 5.64 | -1.65 |
| EPS in Rs | -0.01 | 0 | -0.11 | -0.03 | -0.02 | -0.03 | -4.33 | -0.13 | -0.07 | -0.07 | 0.79 | -0.23 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2010 | Dec 2011 15m | Sep 2012 9m | Mar 2014 18m | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 11.65 | 56.82 | 19.33 | -0.66 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 27.19 | 11.2 | 65.04 | 25 | 1.04 | 0.37 | 0.23 | 0.33 | 0.76 | 0.42 |
| Operating Profit | -27.19 | 0.45 | -8.22 | -5.67 | -1.7 | -0.37 | -0.23 | -0.33 | -0.76 | -0.42 |
| OPM % | — | 3.86 | -14.47 | -29.33 | — | — | — | — | — | — |
| Other Income | 36.44 | 1.79 | 0.01 | 3.11 | 0.01 | 0.01 | 0.01 | 1.17 | 11.21 | 10.99 |
| Interest | 5.73 | 0.8 | 2.4 | 3.49 | 0.93 | 0.6 | 0.62 | 0.6 | 0.33 | 0 |
| Depreciation | 2.74 | 1.41 | 3.38 | 6.1 | 0 | 0 | 0 | 31.64 | 6.46 | 7.62 |
| Profit before tax | 0.78 | 0.03 | -13.99 | -12.15 | -2.62 | -0.96 | -0.84 | -31.4 | 3.66 | 2.95 |
| Tax % | 0 | 0 | 77.7 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 0.78 | 0.03 | -24.86 | -12.15 | -2.62 | -0.96 | -0.84 | -31.4 | 3.66 | 2.94 |
| EPS in Rs | — | — | -3.49 | -1.71 | -0.37 | -0.13 | -0.12 | -4.41 | 0.51 | 0.42 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2009 | Sep 2010 | Dec 2011 | Sep 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 14.09 | 14.09 | 14.1 | 7.13 | 7.13 | 7.13 | 7.13 | 7.13 | 7.13 | 7.13 |
| Reserves | -23.12 | -22.33 | -22.3 | -30.66 | -42.82 | -45.44 | -46.4 | -51.73 | -83.14 | -79.48 |
| Borrowings | 58.22 | 48.79 | 80.98 | 86.53 | 89.23 | 90.51 | 91.23 | 91.99 | 96.39 | 86.93 |
| Other Liabilities | 8.94 | 10.6 | 23.24 | 31.41 | 24.16 | 23.92 | 23.79 | 23.53 | 19.09 | 11.89 |
| Total Liabilities | 58.13 | 51.15 | 96.02 | 94.41 | 77.7 | 76.12 | 75.75 | 70.92 | 39.47 | 26.47 |
| Fixed Assets | 30.94 | 24.84 | 53.87 | 57.29 | 51.23 | 51.23 | 51.23 | 51.23 | 19.58 | 13.12 |
| CWIP | 0.7 | 1.59 | 4.09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.1 | 0.12 | 0.09 |
| Other Assets | 26.48 | 24.71 | 38.05 | 37.11 | 26.46 | 24.88 | 24.51 | 19.59 | 19.77 | 13.26 |
| Total Assets | 58.13 | 51.15 | 96.02 | 94.41 | 77.7 | 76.12 | 75.75 | 70.92 | 39.47 | 26.47 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2009 | Sep 2010 | Dec 2011 | Sep 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -4.93 | -7.99 | -5.64 | -10.09 | -54.46 | 72.48 | -1 | -0.81 | -0.63 | 0.22 |
| Cash from Investing Activity | -0.69 | -0.79 | -31.52 | -2.7 | -0.02 | 0.01 | 0.01 | 0 | 0 | 0 |
| Cash from Financing Activity | 5.36 | 8.79 | 37.12 | 13.06 | 54.2 | -72.25 | 0.72 | 0.76 | 0.6 | -0.21 |
| Net Cash Flow | -0.26 | 0.01 | -0.04 | 0.27 | -0.28 | 0.24 | -0.27 | -0.04 | -0.03 | 0.01 |
| Free Cash Flow | -5.62 | -8.78 | -37.16 | -12.79 | -54.5 | 72.48 | -1 | -0.81 | -0.63 | 0.22 |
| CFO/OP | 42 | 29 | -1253 | 123 | 960 | -4264 | 270 | 352 | 191 | -29 |

### Ratios

| Item | Sep 2009 | Sep 2010 | Dec 2011 | Sep 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 16.18 | — | 99.32 | 61.54 | 59.67 | -824.02 | — | — | — | — |
| Inventory Days | 235.6 | — | — | 280.07 | 449.75 | -8041.06 | — | — | — | 9763.75 |
| Days Payable | 161.23 | — | — | 238.66 | 323.86 | — | — | — | — | 3264.72 |
| Cash Conversion Cycle | 90.55 | — | 99.32 | 102.95 | 185.56 | -8865.08 | — | — | — | — |
| Working Capital Days | 92.93 | — | 205.21 | -379.77 | -202.61 | -46957.8 | — | — | — | — |
| ROCE % | -26.95 | -26.05 | -1.69 | — | -20.16 | -3.2 | -0.69 | -0.44 | -90.9 | -41.42 |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Sep 2019 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% |
| DIIs | 2.3% | 2.3% | 2.3% | 2.3% | 2.73% |
| Public | 70.25% | 70.25% | 70.25% | 70.25% | 69.82% |
| No. of Shareholders | 4901 | 4900 | 4891 | 4898 | 4897 |

### Quarterly

| Category | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% | 27.46% |
| DIIs | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.3% | 2.73% |
| Public | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 70.25% | 69.82% |
| No. of Shareholders | 4901 | 4900 | 4897 | 4893 | 4894 | 4891 | 4892 | 4896 | 4895 | 4898 | 4896 | 4897 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 7 / 5

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 2221.49 | Sell |
| EMA (10) | 2200.11 | Sell |
| SMA (20) | 2193.35 | Buy |
| EMA (20) | 2191.06 | Buy |
| SMA (50) | 2143.58 | Buy |
| EMA (50) | 2169.65 | Buy |
| SMA (100) | 2162.06 | Buy |
| EMA (100) | 2187.44 | Buy |
| SMA (200) | 2256.42 | Sell |
| EMA (200) | 2306.36 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 52.15 | Neutral |
| MACD (12,26,9) | 15.29 | Sell |
| Stochastic (14,3,3) | 36.04 | Neutral |
| ADX (14) | 15.82 | Neutral |
| Williams %R (14) | -64.2 | Neutral |
| ATR (14) | 46.32 | Neutral |
| ROC (12) | 1.44 | Buy |
| Stoch RSI (14) | 25.25 | Neutral |
| UO (7,14,28) | 45.54 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 30 Jan - Board approved financial results for quarter ended 31 December 2025. | [Board Meeting Outcome for Outcome 30 Jan - Board approved financial results for quarter ended 31 December 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/97a5a875-f42a-4374-899e-ac79c4b3e446.pdf) |
| 22 Oct 2019 - On 21st October, 2019, the Hon'ble Adjudicating Authority -National Company Law Tribunal (NCLT), Kochi Bench, has ordered the commencement of liquidation of Excel Glasses Limited … | [Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP) 22 Oct 2019 - On 21st October, 2019, the Hon'ble Adjudicating Authority -National Company Law Tribunal (NCLT), Kochi Bench, has ordered the commencement of liquidation of Excel Glasses Limited …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d0424904-1bea-4613-b316-5e08a2f57b91.pdf) |
| 22 Oct 2019 - On 21st October, 2019, the Hon'ble Adjudicating Authority -National Company Law Tribunal (NCLT), Kochi Bench, has ordered the commencement of liquidation of Excel Glasses Limited … | [Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP) 22 Oct 2019 - On 21st October, 2019, the Hon'ble Adjudicating Authority -National Company Law Tribunal (NCLT), Kochi Bench, has ordered the commencement of liquidation of Excel Glasses Limited …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d0424904-1bea-4613-b316-5e08a2f57b91.pdf) |
| 2 Feb - Newspaper publication of financial results for 31-12-2025. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Feb - Newspaper publication of financial results for 31-12-2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9379a18-288d-4d03-886b-b832b44adce4.pdf) |
| 18 Oct 2019 - We are enclosing herewith a Compliance Certificate pursuant to Regulation 7(3) of SEBI (LODR) Regulations, 2015, for the year ended September 30, 2019 | [Compliance Certificate Pursuant To Regulation 7(3) For Half Year Ended 30.09.2019. 18 Oct 2019 - We are enclosing herewith a Compliance Certificate pursuant to Regulation 7(3) of SEBI (LODR) Regulations, 2015, for the year ended September 30, 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f50e07e5-1ec5-4a7a-825e-3ea83f78e272.pdf) |
| 18 Oct 2019 - Compliance Certificate pursuant to Regulation 7(3) of SEBI (LODR) Regulations, 2015, for the year ended September 30, 2019 | [Compliance Certificate Pursuant To Regulation 7(3) For Half Year Ended 30.09.2019. 18 Oct 2019 - Compliance Certificate pursuant to Regulation 7(3) of SEBI (LODR) Regulations, 2015, for the year ended September 30, 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f50e07e5-1ec5-4a7a-825e-3ea83f78e272.pdf) |
| 15 Jan - Certificate under Reg.74(5) for the quarter ended 31-12-2025 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Jan - Certificate under Reg.74(5) for the quarter ended 31-12-2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf065ac4-9cd5-4cd2-bad5-9e305112b90f.pdf) |
| — | [Financial Results 31-12-2025 30 Jan](https://www.bseindia.com/xml-data/corpfiling/AttachHis/53170215-672e-45ff-a370-5bcab400027a.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Jan](https://www.bseindia.com/xml-data/corpfiling/AttachHis/10b362c8-6ab2-4803-bf46-39158f21a645.pdf) |
| — | [Reg. 34 (1) Annual Report 11 Oct 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1fcafe44-a8d4-4f6b-9261-b9ca861253ce.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ddb2f86d-f341-42ce-af79-30c4e489f696.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2d4d04d1-deed-4ce6-92b4-c99bd3475ed5.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ec932c43-bcc1-4114-8ab9-26a135450473.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/542123/75602542123_20_09_22.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/542123/71943542123.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/542123/67625542123.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/542123/5421230319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/542123/5421230318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2017/PHOSPHATE_CO_LTD-542123-MARCH-2017.PDF) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2016/PHOSPHATE_CO_LTD-542123-MARCH-2016.PDF) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:17:24.429Z.