{"id":312422,"date":"2026-10-16T10:02:06","date_gmt":"2026-10-16T04:32:06","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=312422"},"modified":"2026-10-16T10:02:06","modified_gmt":"2026-10-16T04:32:06","slug":"dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/","title":{"rendered":"Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Which Stock Should You Track"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Dharmaj Crop Guard PE 14.72, mkt cap Rs 886 crore. Excel Industries PE 16.35, mkt cap Rs 1,167 crore. Ultramarine and Pigments PE 12.67, mkt cap Rs 1,168 crore.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments is a side-by-side comparison of three companies from the chemicals space. On this comparison, Dharmaj Crop Guard carries a market capitalisation of about Rs 886 crore, against Rs 1,167 crore for Excel Industries and Rs 1,168 crore for Ultramarine and Pigments, with return on equity of 12.17%, 4.44% and 9.29% respectively. Each company&#8217;s numbers are presented here without a declared preference, since the right stock depends on an investor&#8217;s own criteria.<\/p>\n<\/div>\n<p>Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments starts with the core numbers most investors compare within the chemicals segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.<\/p>\n<p>All three names sit in the chemicals bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments_Company_Overview\" title=\"Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments: Company Overview\">Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments: Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Valuation_and_Profitability_Snapshot\" title=\"Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Valuation and Profitability Snapshot\">Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Valuation and Profitability Snapshot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Latest_Quarterly_Results\" title=\"Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Latest Quarterly Results\">Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Latest Quarterly Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Five-Quarter_Revenue_and_Net_Profit_Trend\" title=\"Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Five-Quarter Revenue and Net Profit Trend\">Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Five-Quarter Revenue and Net Profit Trend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#What_Should_Investors_Look_at_Beyond_These_Numbers\" title=\"What Should Investors Look at Beyond These Numbers?\">What Should Investors Look at Beyond These Numbers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#FAQs_on_Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments\" title=\"FAQs on Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments\">FAQs on Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#What_is_the_market_cap_difference_between_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\" title=\"What is the market cap difference between Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\">What is the market cap difference between Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#What_are_the_PE_and_PB_ratios_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\" title=\"What are the PE and PB ratios of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\">What are the PE and PB ratios of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Which_of_the_three_has_the_highest_ROE\" title=\"Which of the three has the highest ROE?\">Which of the three has the highest ROE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Which_of_these_three_stocks_pays_the_highest_dividend_yield\" title=\"Which of these three stocks pays the highest dividend yield?\">Which of these three stocks pays the highest dividend yield?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#What_is_the_debt_to_equity_ratio_for_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\" title=\"What is the debt to equity ratio for Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\">What is the debt to equity ratio for Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#What_were_the_latest_quarterly_revenue_and_net_profit_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\" title=\"What were the latest quarterly revenue and net profit of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\">What were the latest quarterly revenue and net profit of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/dharmaj-crop-guard-vs-excel-industries-vs-ultramarine-and-pigments\/#Does_this_comparison_recommend_one_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\" title=\"Does this comparison recommend one of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\">Does this comparison recommend one of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments_Company_Overview\"><\/span><strong>Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments: Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Dharmaj Crop Guard<\/strong> is a listed Indian company in the chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 886 crore, a return on equity of 12.17% and a book value of Rs 132.86 per share. Its quarterly revenue moved from Rs 368.15 crore in June 2025 to Rs 383.51 crore in June 2026, a change of +4.2%.<\/p>\n<p><strong>Excel Industries<\/strong> is a listed Indian company in the chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 1,167 crore, a return on equity of 4.44% and a book value of Rs 1354.74 per share. Its quarterly revenue moved from Rs 321.73 crore in June 2025 to Rs 300.54 crore in June 2026, a change of -6.6%.<\/p>\n<p><strong>Ultramarine and Pigments<\/strong> is a listed Indian company in the chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 1,168 crore, a return on equity of 9.29% and a book value of Rs 297.90 per share. Its quarterly revenue moved from Rs 187.21 crore in June 2025 to Rs 245.68 crore in June 2026, a change of +31.2%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Valuation_and_Profitability_Snapshot\"><\/span><strong>Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Valuation and Profitability Snapshot<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Metric<\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/dharmaj\/dharmaj-crop-guard-ltd-share-price-today\">Dharmaj Crop Guard<\/a><\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/excelindus\/excel-industries-ltd-share-price-today\">Excel Industries<\/a><\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/ultramar\/ultramarine-and-pigments-ltd-share-price-today\">Ultramarine and Pigments<\/a><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Market Cap (approx.)<\/td>\n<td>Rs 886 crore<\/td>\n<td>Rs 1,167 crore<\/td>\n<td>Rs 1,168 crore<\/td>\n<\/tr>\n<tr>\n<td>PE Ratio (TTM)<\/td>\n<td>14.72<\/td>\n<td>16.35<\/td>\n<td>12.67<\/td>\n<\/tr>\n<tr>\n<td>PB Ratio<\/td>\n<td>1.97<\/td>\n<td>0.69<\/td>\n<td>1.34<\/td>\n<\/tr>\n<tr>\n<td>Return on Equity (ROE)<\/td>\n<td>12.17%<\/td>\n<td>4.44%<\/td>\n<td>9.29%<\/td>\n<\/tr>\n<tr>\n<td>EPS (TTM, Rs)<\/td>\n<td>17.80<\/td>\n<td>56.78<\/td>\n<td>31.57<\/td>\n<\/tr>\n<tr>\n<td>Dividend Yield<\/td>\n<td>0.00%<\/td>\n<td>1.48%<\/td>\n<td>1.50%<\/td>\n<\/tr>\n<tr>\n<td>Debt to Equity<\/td>\n<td>0.29<\/td>\n<td>0.00<\/td>\n<td>0.10<\/td>\n<\/tr>\n<tr>\n<td>Book Value per Share (Rs)<\/td>\n<td>132.86<\/td>\n<td>1354.74<\/td>\n<td>297.90<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for Live Data<\/strong><\/a><\/p>\n<p>On valuation, Dharmaj Crop Guard trades at a PE of 14.72 and a PB of 1.97, Excel Industries at a PE of 16.35 and a PB of 0.69, while Ultramarine and Pigments trades at a PE of 12.67 and a PB of 1.34. On return on equity, the three post 12.17%, 4.44% and 9.29% respectively, and on dividend yield they stand at 0.00%, 1.48% and 1.50%. Ultramarine and Pigments has the highest market capitalisation of the three at Rs 1,168 crore, while Dharmaj Crop Guard has the lowest at Rs 886 crore. Excel Industries has the highest PE ratio of the three at 16.35, while Ultramarine and Pigments has the lowest at 12.67. Dharmaj Crop Guard has the highest return on equity of the three at 12.17%, while Excel Industries has the lowest at 4.44%. Dharmaj Crop Guard has the highest debt to equity ratio of the three at 0.29, while Excel Industries has the lowest at 0.00. Debt to equity is 0.29, 0.00 and 0.10 for the three respectively.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Latest_Quarterly_Results\"><\/span><strong>Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Latest Quarterly Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Company<\/th>\n<th>Latest Quarter Revenue<\/th>\n<th>Latest Quarter Net Profit<\/th>\n<th>YoY Change (Revenue)<\/th>\n<th>QoQ Change (Revenue)<\/th>\n<th>YoY Change (Net Profit)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Dharmaj Crop Guard<\/td>\n<td>Rs 383.51 crore<\/td>\n<td>Rs 38.11 crore<\/td>\n<td>+4.2%<\/td>\n<td>+61.0%<\/td>\n<td>+16.9%<\/td>\n<\/tr>\n<tr>\n<td>Excel Industries<\/td>\n<td>Rs 300.54 crore<\/td>\n<td>Rs 29.47 crore<\/td>\n<td>-6.6%<\/td>\n<td>+5.9%<\/td>\n<td>-12.7%<\/td>\n<\/tr>\n<tr>\n<td>Ultramarine and Pigments<\/td>\n<td>Rs 245.68 crore<\/td>\n<td>Rs 31.59 crore<\/td>\n<td>+31.2%<\/td>\n<td>+21.8%<\/td>\n<td>+56.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments_Five-Quarter_Revenue_and_Net_Profit_Trend\"><\/span><strong>Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments: Five-Quarter Revenue and Net Profit Trend<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments, which helps separate a one-quarter move from a steadier pattern.<\/p>\n<p><strong>Quarterly revenue (Rs crore)<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Dharmaj Crop Guard<\/th>\n<th>Excel Industries<\/th>\n<th>Ultramarine and Pigments<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>June 2025<\/td>\n<td>Rs 368.15 crore<\/td>\n<td>Rs 321.73 crore<\/td>\n<td>Rs 187.21 crore<\/td>\n<\/tr>\n<tr>\n<td>September 2025<\/td>\n<td>Rs 347.30 crore<\/td>\n<td>Rs 277.67 crore<\/td>\n<td>Rs 198.46 crore<\/td>\n<\/tr>\n<tr>\n<td>December 2025<\/td>\n<td>Rs 192.71 crore<\/td>\n<td>Rs 238.65 crore<\/td>\n<td>Rs 199.03 crore<\/td>\n<\/tr>\n<tr>\n<td>March 2026<\/td>\n<td>Rs 238.15 crore<\/td>\n<td>Rs 283.81 crore<\/td>\n<td>Rs 201.70 crore<\/td>\n<\/tr>\n<tr>\n<td>June 2026<\/td>\n<td>Rs 383.51 crore<\/td>\n<td>Rs 300.54 crore<\/td>\n<td>Rs 245.68 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Quarterly net profit (Rs crore)<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Dharmaj Crop Guard<\/th>\n<th>Excel Industries<\/th>\n<th>Ultramarine and Pigments<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>June 2025<\/td>\n<td>Rs 32.59 crore<\/td>\n<td>Rs 33.76 crore<\/td>\n<td>Rs 20.19 crore<\/td>\n<\/tr>\n<tr>\n<td>September 2025<\/td>\n<td>Rs 17.33 crore<\/td>\n<td>Rs 21.19 crore<\/td>\n<td>Rs 19.36 crore<\/td>\n<\/tr>\n<tr>\n<td>December 2025<\/td>\n<td>Rs 0.76 crore<\/td>\n<td>Rs 8.44 crore<\/td>\n<td>Rs 27.09 crore<\/td>\n<\/tr>\n<tr>\n<td>March 2026<\/td>\n<td>Rs 3.97 crore<\/td>\n<td>Rs 12.28 crore<\/td>\n<td>Rs 14.15 crore<\/td>\n<\/tr>\n<tr>\n<td>June 2026<\/td>\n<td>Rs 38.11 crore<\/td>\n<td>Rs 29.47 crore<\/td>\n<td>Rs 31.59 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Dharmaj Crop Guard reported revenue of Rs 368.15 crore in June 2025 and Rs 383.51 crore in June 2026, a change of +4.2% across the period. Its highest quarterly revenue in this window was Rs 383.51 crore in June 2026. Net profit stood at Rs 38.11 crore in June 2026, which is a net profit margin of 9.94%.<\/p>\n<p>Excel Industries reported revenue of Rs 321.73 crore in June 2025 and Rs 300.54 crore in June 2026, a change of -6.6% across the period. Its highest quarterly revenue in this window was Rs 321.73 crore in June 2025. Net profit stood at Rs 29.47 crore in June 2026, which is a net profit margin of 9.81%.<\/p>\n<p>Ultramarine and Pigments reported revenue of Rs 187.21 crore in June 2025 and Rs 245.68 crore in June 2026, a change of +31.2% across the period. Its highest quarterly revenue in this window was Rs 245.68 crore in June 2026. Net profit stood at Rs 31.59 crore in June 2026, which is a net profit margin of 12.86%.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Should_Investors_Look_at_Beyond_These_Numbers\"><\/span><strong>What Should Investors Look at Beyond These Numbers?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the metrics above, investors comparing these three chemicals names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as raw material prices, seasonal demand, crop cycles and environmental compliance. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.<\/p>\n<p>It also helps to read the latest quarterly filings and investor presentations of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments highlights how differently three companies in the same chemicals segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information as of October 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Dharmaj_Crop_Guard_vs_Excel_Industries_vs_Ultramarine_and_Pigments\"><\/span><strong>FAQs on Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_difference_between_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\"><\/span><strong>What is the market cap difference between Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of October 2026, Dharmaj Crop Guard has a market cap of approximately Rs 886 crore, Excel Industries is at approximately Rs 1,167 crore, and Ultramarine and Pigments is at approximately Rs 1,168 crore. Ultramarine and Pigments is the largest of the three, and its market capitalisation is about 1.3 times that of Dharmaj Crop Guard, the smallest. Market capitalisation reflects the size of a company in the market rather than the quality of its business, so a larger value does not by itself signal a higher quality company. These figures move with the share price every trading day, which is why the table above should be read as a snapshot rather than a fixed ranking in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments comparison.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_PE_and_PB_ratios_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\"><\/span><strong>What are the PE and PB ratios of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of October 2026, the PE ratios stand at 14.72, 16.35 and 12.67 respectively, and the price to book ratios stand at 1.97, 0.69 and 1.34 respectively. All three companies have a positive trailing PE, so the multiples can be compared directly. The PE ratio shows how much investors pay for each rupee of trailing earnings, while the PB ratio compares the market value with the net assets on the balance sheet. Both multiples should be read against the segment norms for chemicals and against each company&#8217;s own growth and earnings stability, because a high multiple can reflect expected growth or simply a small earnings base.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_the_three_has_the_highest_ROE\"><\/span><strong>Which of the three has the highest ROE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments post ROE of 12.17%, 4.44% and 9.29% respectively as of October 2026. Dharmaj Crop Guard has the highest return on equity of the three at 12.17%, while Excel Industries has the lowest at 4.44%. Return on equity measures how much profit a company generates on the capital contributed by its shareholders, so it is a useful gauge of how efficiently equity is being used. A negative ROE points to losses over the period, and a very high ROE can sometimes result from a small equity base rather than operating performance. It is therefore worth reading ROE together with debt levels and the five-quarter profit trend before drawing any conclusion from the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments figures.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_three_stocks_pays_the_highest_dividend_yield\"><\/span><strong>Which of these three stocks pays the highest dividend yield?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments carry dividend yields of 0.00%, 1.48% and 1.50% respectively as of October 2026. Dividend yield is the annual dividend per share expressed as a percentage of the current share price, so it changes whenever the price changes. A low or zero yield is common among companies that retain profits to fund expansion, repay debt or absorb losses, and it does not by itself say anything about business quality. Investors who care about income should also check how consistently each company has paid dividends and what share of profit it distributes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_debt_to_equity_ratio_for_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\"><\/span><strong>What is the debt to equity ratio for Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dharmaj Crop Guard carries a debt to equity of 0.29, Excel Industries of 0.00, and Ultramarine and Pigments of 0.10. Dharmaj Crop Guard has the highest debt to equity ratio of the three at 0.29, while Excel Industries has the lowest at 0.00. The debt to equity ratio compares total borrowings with shareholders&#8217; funds, and a higher figure means the company relies more on borrowed money to run its business. What counts as a comfortable level differs by segment, since some businesses in chemicals need heavy capital and carry more debt than others. Investors usually read this ratio alongside interest costs and cash generation to judge how well each company can service its borrowings in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments comparison.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_the_latest_quarterly_revenue_and_net_profit_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\"><\/span><strong>What were the latest quarterly revenue and net profit of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> For Q1 FY27 (quarter ended June 2026), Dharmaj Crop Guard reported revenue of Rs 383.51 crore and net profit of Rs 38.11 crore, Excel Industries reported revenue of Rs 300.54 crore and net profit of Rs 29.47 crore, and Ultramarine and Pigments reported revenue of Rs 245.68 crore and net profit of Rs 31.59 crore. Compared with the quarter ended June 2025, revenue changed by +4.2% for Dharmaj Crop Guard, -6.6% for Excel Industries and +31.2% for Ultramarine and Pigments. A single quarter can be affected by seasonality, one-time items and the timing of orders, so the five-quarter tables above give a clearer sense of direction than any one result. A net loss in a quarter does not always mean a troubled business, but it does call for a closer look at costs, debt and the reasons behind the swing in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments results.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_this_comparison_recommend_one_of_Dharmaj_Crop_Guard_Excel_Industries_and_Ultramarine_and_Pigments\"><\/span><strong>Does this comparison recommend one of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor&#8217;s own criteria and research. Instead of a verdict, the tables above lay out the figures so that readers can weigh them against their own goals, time horizon and tolerance for risk. For companies in chemicals, it also helps to look at factors such as raw material prices, seasonal demand, crop cycles and environmental compliance. Reading the latest filings and investor presentations of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments directly, and speaking to a SEBI registered adviser where needed, is a sensible step before acting on any numbers shown in Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the market cap difference between Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of October 2026, Dharmaj Crop Guard has a market cap of approximately Rs 886 crore, Excel Industries is at approximately Rs 1,167 crore, and Ultramarine and Pigments is at approximately Rs 1,168 crore. Ultramarine and Pigments is the largest of the three, and its market capitalisation is about 1.3 times that of Dharmaj Crop Guard, the smallest. Market capitalisation reflects the size of a company in the market rather than the quality of its business, so a larger value does not by itself signal a higher quality company. These figures move with the share price every trading day, which is why the table above should be read as a snapshot rather than a fixed ranking in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments comparison.\"}},{\"@type\":\"Question\",\"name\":\"What are the PE and PB ratios of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of October 2026, the PE ratios stand at 14.72, 16.35 and 12.67 respectively, and the price to book ratios stand at 1.97, 0.69 and 1.34 respectively. All three companies have a positive trailing PE, so the multiples can be compared directly. The PE ratio shows how much investors pay for each rupee of trailing earnings, while the PB ratio compares the market value with the net assets on the balance sheet. Both multiples should be read against the segment norms for chemicals and against each company's own growth and earnings stability, because a high multiple can reflect expected growth or simply a small earnings base.\"}},{\"@type\":\"Question\",\"name\":\"Which of the three has the highest ROE?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments post ROE of 12.17%, 4.44% and 9.29% respectively as of October 2026. Dharmaj Crop Guard has the highest return on equity of the three at 12.17%, while Excel Industries has the lowest at 4.44%. Return on equity measures how much profit a company generates on the capital contributed by its shareholders, so it is a useful gauge of how efficiently equity is being used. A negative ROE points to losses over the period, and a very high ROE can sometimes result from a small equity base rather than operating performance. It is therefore worth reading ROE together with debt levels and the five-quarter profit trend before drawing any conclusion from the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments figures.\"}},{\"@type\":\"Question\",\"name\":\"Which of these three stocks pays the highest dividend yield?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments carry dividend yields of 0.00%, 1.48% and 1.50% respectively as of October 2026. Dividend yield is the annual dividend per share expressed as a percentage of the current share price, so it changes whenever the price changes. A low or zero yield is common among companies that retain profits to fund expansion, repay debt or absorb losses, and it does not by itself say anything about business quality. Investors who care about income should also check how consistently each company has paid dividends and what share of profit it distributes.\"}},{\"@type\":\"Question\",\"name\":\"What is the debt to equity ratio for Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dharmaj Crop Guard carries a debt to equity of 0.29, Excel Industries of 0.00, and Ultramarine and Pigments of 0.10. Dharmaj Crop Guard has the highest debt to equity ratio of the three at 0.29, while Excel Industries has the lowest at 0.00. The debt to equity ratio compares total borrowings with shareholders' funds, and a higher figure means the company relies more on borrowed money to run its business. What counts as a comfortable level differs by segment, since some businesses in chemicals need heavy capital and carry more debt than others. Investors usually read this ratio alongside interest costs and cash generation to judge how well each company can service its borrowings in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments comparison.\"}},{\"@type\":\"Question\",\"name\":\"What were the latest quarterly revenue and net profit of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"For Q1 FY27 (quarter ended June 2026), Dharmaj Crop Guard reported revenue of Rs 383.51 crore and net profit of Rs 38.11 crore, Excel Industries reported revenue of Rs 300.54 crore and net profit of Rs 29.47 crore, and Ultramarine and Pigments reported revenue of Rs 245.68 crore and net profit of Rs 31.59 crore. Compared with the quarter ended June 2025, revenue changed by +4.2% for Dharmaj Crop Guard, -6.6% for Excel Industries and +31.2% for Ultramarine and Pigments. A single quarter can be affected by seasonality, one-time items and the timing of orders, so the five-quarter tables above give a clearer sense of direction than any one result. A net loss in a quarter does not always mean a troubled business, but it does call for a closer look at costs, debt and the reasons behind the swing in the Dharmaj Crop Guard vs Excel Industries vs Ultramarine and Pigments results.\"}},{\"@type\":\"Question\",\"name\":\"Does this comparison recommend one of Dharmaj Crop Guard, Excel Industries and Ultramarine and Pigments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research. Instead of a verdict, the tables above lay out the figures so that readers can weigh them against their own goals, time horizon and tolerance for risk. 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