About Excel Industries Limited
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Excel Industries Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the chemical products segment of the chemicals sector. It was incorporated on 05 September 1960 and has been in existence for over 66 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24200MH1960PLC011807. Its GSTIN is 27AAACE2488F1ZO (Maharashtra). The company holds 16 GST registrations, of which 8 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500650 and NSE: EXCELINDUS.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹6.29 Cr. It was formerly known as Excel Industries Private Limited. It is led by directors including Ravi Ashwin Shroff (Managing Director) and Ashwin Champraj Shroff (Whole-Time Director).
Its last annual general meeting (AGM) was held on 21 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 184 – 187 Swami Vivekanand Road Jogeshwari (West), Mumbai, Maharashtra, India – 400102.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,094.52 Cr, a growth of 11.9% compared to the previous year. For the same year it recorded a net profit of ₹75.98 Cr (net margin 6.9%) and EBITDA of ₹111.44 Cr (EBITDA margin 10.2%). The net worth stands at ₹1,703.01 Cr (up 7.2% YoY). Total assets are valued at ₹1,724.61 Cr (up 6.8% YoY).
The company has about 898 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 2 brands: Excel Industries and EXCEL Industries. As per MCA filings, the company has open charges of ₹220 Cr and satisfied charges of ₹449.44 Cr on record. Court records list 268 cases involving the company, including 106 filed by the company and 166 filed against it; 30 cases are pending. The company has 17 deals on record (13 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹13.8 Cr; the latest was in August 2026. Its 7 peer companies in the Chemicals industry (Industrial Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 3 smaller; the largest is Punjab Chemicals and Crop Protection Limited with revenue of ₹901.95 Cr. The company has 14 MSME Form 1 returns on record between 2019 and 2024, listing 748 overdue payments to 76 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website excelind.co.in.
Company details
Contact details
Excel Industries Limited's registered office is in Mumbai, Maharashtra. Its website is excelind.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address184 – 187 Swami Vivekanand Road Jogeshwari (West), Mumbai, Maharashtra, India – 400102
- IndustryChemicals, Chemical Products, Medicinal Chemical & Botanical Products, Pharmaceuticals
To see the full contact details of Excel Industries Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Excel Industries operates two associated brands: Excel Industries and EXCEL Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of agrochemical, pharmaceutical, and polymer intermediates | excelind.co.in | |
| Limited information available | excelind.com |
Business activity
The main business activity of Excel Industries is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Excel Industries Limited, buy the company report.
Financials of Excel Industries Limited
FY 2025-26 filings availableExcel Industries Limited reported revenue of ₹1,094.52 Cr (up 11.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,095 | 978 | 826 | 1,090 | 1,178 | 749 | 702 |
| Revenue growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| EBITDA | 111 | 120 | 24.09 | 128 | 232 | 122 | 131 |
| EBITDA margin | +10.2% | +12.3% | +2.9% | +11.7% | +19.7% | +16.2% | +18.6% |
| Profit before tax | 97.81 | 113 | 22.66 | 106 | 213 | 101 | 115 |
| Net profit | 75.98 | 74.32 | 13.30 | 80.28 | 161 | 70.41 | 96.13 |
| Net profit margin | +6.9% | +7.6% | +1.6% | +7.4% | +13.7% | +9.4% | +13.7% |
| EPS (₹) | 60.19 | 67.87 | 13.53 | 63.59 | 128.24 | 56.55 | 76.43 |
| Balance sheet | |||||||
| Total assets | 1,725 | 1,615 | 1,442 | 1,258 | 1,171 | 873 | 747 |
| Net worth | 1,703 | 1,589 | 1,427 | 1,242 | 1,149 | 852 | 701 |
| Total debt | 7.88 | 12.28 | 1.78 | 2.67 | 7.41 | 8.60 | 24.12 |
| Cash & bank | 18.39 | 16.26 | 12.43 | 86.94 | 67.98 | 52.06 | 22.42 |
| Net working capital | 214 | 181 | 118 | 269 | 270 | 162 | 139 |
| Cash flow | |||||||
| Cash from operations | 52.90 | 61.82 | 72.37 | 125 | 109 | 90.86 | 110 |
| Cash from investing | (25.09) | (41.29) | (51.23) | (118) | (104) | (52.60) | (61.38) |
| Cash from financing | (26.97) | (16.07) | (16.93) | (34.58) | (16.89) | (16.83) | (31.46) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 294 | 281 | 234 | 270 | 310 | 248 | 196 | 269 |
| Revenue growth (YoY) | -5.1% | +13.5% | +18.9% | +0.5% | +16.8% | - | - | - |
| Other income | 6.71 | 2.57 | 5.11 | 7.44 | 12.21 | 5.74 | 5.15 | 8.04 |
| EBITDA | 42.41 | 21.99 | 15.74 | 29.91 | 42.21 | 19.56 | 12.08 | 48.97 |
| EBITDA margin | +14.4% | +7.8% | +6.7% | +11.1% | +13.6% | +7.9% | +6.2% | +18.2% |
| Depreciation | 9.63 | 9.64 | 9.19 | 9.13 | 8.95 | 8.76 | 8.53 | 8.67 |
| Interest | 0.59 | 0.25 | 0.45 | 0.75 | 1.01 | 0.26 | 0.28 | 1.21 |
| Profit before tax | 38.90 | 14.67 | 11.21 | 27.47 | 44.46 | 16.28 | 8.42 | 47.13 |
| Tax | 9.43 | 2.37 | 2.78 | 6.28 | 10.70 | 3.89 | 2.21 | 11.44 |
| Net profit | 29.47 | 12.30 | 8.43 | 21.19 | 33.76 | 12.39 | 6.21 | 35.69 |
| EPS (₹) | 23.44 | 9.77 | 6.71 | 16.85 | 26.86 | 9.87 | 4.93 | 28.39 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,094 | 978 | 826 | 1,090 | 1,178 | 749 | 702 |
| Revenue growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| EBITDA | 112 | 122 | 25.24 | 128 | 232 | 122 | 131 |
| EBITDA margin | +10.2% | +12.5% | +3.1% | +11.8% | +19.7% | +16.2% | +18.6% |
| Profit before tax | 95.12 | 111 | 20.21 | 104 | 212 | 99.71 | 112 |
| Net profit | 73.68 | 74.32 | 11.40 | 78.79 | 160 | 69.51 | 93.54 |
| Net profit margin | +6.7% | +7.6% | +1.4% | +7.2% | +13.6% | +9.3% | +13.3% |
| EPS (₹) | 58.39 | 66.42 | 12.02 | 62.41 | 127.41 | 55.84 | 74.36 |
| Balance sheet | |||||||
| Total assets | 1,243 | 1,204 | 1,091 | 1,008 | 954 | 737 | 647 |
| Net worth | 1,221 | 1,177 | 1,076 | 992 | 933 | 716 | 601 |
| Total debt | 7.88 | 12.28 | 1.78 | 2.67 | 7.41 | 8.60 | 24.12 |
| Cash & bank | 15.21 | 12.87 | 11.82 | 86.46 | 65.90 | 51.65 | 18.31 |
| Net working capital | 211 | 177 | 141 | 267 | 267 | 161 | 133 |
| Cash flow | |||||||
| Cash from operations | 54.17 | 63.45 | 73.43 | 127 | 109 | 90.15 | 110 |
| Cash from investing | (26.14) | (45.69) | (52.41) | (117) | (106) | (48.18) | (65.00) |
| Cash from financing | (26.97) | (16.07) | (16.93) | (34.57) | (16.88) | (16.83) | (31.45) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 294 | 281 | 233 | 270 | 309 | 248 | 196 | 269 |
| Revenue growth (YoY) | -5.1% | +13.4% | +18.9% | +0.5% | +16.8% | - | - | - |
| Other income | 6.17 | 2.87 | 4.86 | 4.22 | 11.79 | 4.40 | 5.07 | 5.90 |
| Total expenses | 251 | 259 | 218 | 240 | 267 | 228 | 184 | 220 |
| EBITDA | 42.44 | 22.05 | 15.92 | 30.11 | 42.33 | 19.82 | 12.33 | 49.26 |
| EBITDA margin | +14.4% | +7.8% | +6.8% | +11.1% | +13.7% | +8.0% | +6.3% | +18.3% |
| Depreciation | 9.55 | 9.56 | 9.10 | 9.04 | 8.87 | 8.68 | 8.46 | 8.60 |
| Interest | 0.59 | 0.25 | 0.45 | 0.75 | 1.01 | 0.26 | 0.28 | 1.21 |
| Profit before tax | 38.47 | 15.11 | 11.23 | 24.54 | 44.24 | 15.28 | 8.66 | 45.35 |
| Tax | 9.37 | 2.41 | 2.82 | 5.81 | 10.68 | 3.91 | 2.26 | 11.10 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 294 | 281 | 234 | 270 | 310 | 248 | 196 | 269 |
| Revenue growth (YoY) | -5.1% | +13.5% | +18.9% | +0.5% | +16.8% | - | - | - |
| Other income | 6.71 | 2.57 | 5.11 | 7.44 | 12.21 | 5.74 | 5.15 | 8.04 |
| EBITDA | 42.41 | 21.99 | 15.74 | 29.91 | 42.21 | 19.56 | 12.08 | 48.97 |
| EBITDA margin | +14.4% | +7.8% | +6.7% | +11.1% | +13.6% | +7.9% | +6.2% | +18.2% |
| Depreciation | 9.63 | 9.64 | 9.19 | 9.13 | 8.95 | 8.76 | 8.53 | 8.67 |
| Interest | 0.59 | 0.25 | 0.45 | 0.75 | 1.01 | 0.26 | 0.28 | 1.21 |
| Profit before tax | 38.90 | 14.67 | 11.21 | 27.47 | 44.46 | 16.28 | 8.42 | 47.13 |
| Tax | 9.43 | 2.37 | 2.78 | 6.28 | 10.70 | 3.89 | 2.21 | 11.44 |
| Net profit | 29.47 | 12.30 | 8.43 | 21.19 | 33.76 | 12.39 | 6.21 | 35.69 |
| EPS (₹) | 23.44 | 9.77 | 6.71 | 16.85 | 26.86 | 9.87 | 4.93 | 28.39 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,095 | 978 | 826 | 1,090 | 1,178 | 749 | 702 |
| Revenue growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| Other income | 27.33 | 30.22 | 33.00 | 12.87 | 15.64 | 9.41 | 10.84 |
| Total expenses | 983 | 858 | 802 | 962 | 946 | 628 | 572 |
| Employee cost | 133 | 122 | 105 | 105 | 106 | 89.38 | 84.61 |
| EBITDA | 111 | 120 | 24.09 | 128 | 232 | 122 | 131 |
| EBITDA margin | +10.2% | +12.3% | +2.9% | +11.7% | +19.7% | +16.2% | +18.6% |
| Depreciation | 36.90 | 34.07 | 31.43 | 31.36 | 30.66 | 27.15 | 22.78 |
| Interest | 4.06 | 3.57 | 3.00 | 3.40 | 3.07 | 3.02 | 3.80 |
| Profit before tax | 97.81 | 113 | 22.66 | 106 | 213 | 101 | 115 |
| Tax | 22.13 | 27.62 | 5.65 | 25.83 | 52.25 | 29.72 | 18.83 |
| Net profit | 75.98 | 74.32 | 13.30 | 80.28 | 161 | 70.41 | 96.13 |
| Net profit margin | +6.9% | +7.6% | +1.6% | +7.4% | +13.7% | +9.4% | +13.7% |
| EPS (₹) | 60.19 | 67.87 | 13.53 | 63.59 | 128.24 | 56.55 | 76.43 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 |
| Reserves & surplus | 1,697 | 1,582 | 1,421 | 1,235 | 1,143 | 845 | 695 |
| Shareholders' funds (net worth) | 1,703 | 1,589 | 1,427 | 1,242 | 1,149 | 852 | 701 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 0.09 | 0.05 | 0.00 | 0.89 | 0.04 | 0.18 | 12.45 |
| Unsecured loans | 7.79 | 12.23 | 1.78 | 1.78 | 7.37 | 8.42 | 11.67 |
| Total debt | 7.88 | 12.28 | 1.78 | 2.67 | 7.41 | 8.60 | 24.12 |
| Total liabilities | 1,725 | 1,615 | 1,442 | 1,258 | 1,171 | 873 | 747 |
| Assets | |||||||
| Gross block | 702 | 657 | 600 | 578 | 550 | 482 | 444 |
| Net block | 476 | 459 | 428 | 428 | 427 | 389 | 376 |
| Capital work in progress | 37.93 | 12.75 | 18.52 | 19.31 | 21.20 | 16.85 | 9.55 |
| Investments | 1,126 | 1,085 | 984 | 625 | 547 | 365 | 264 |
| Inventories | 129 | 94.05 | 106 | 131 | 165 | 68.97 | 77.72 |
| Sundry debtors | 261 | 216 | 185 | 157 | 199 | 173 | 150 |
| Cash & bank balances | 18.39 | 16.26 | 12.43 | 86.94 | 67.98 | 52.06 | 22.42 |
| Loans & advances | 26.78 | 18.31 | 17.26 | 16.11 | 34.10 | 19.77 | 15.71 |
| Total current assets | 436 | 345 | 321 | 391 | 467 | 313 | 266 |
| Total current liabilities | 221 | 164 | 203 | 122 | 197 | 151 | 127 |
| Net working capital | 214 | 181 | 118 | 269 | 270 | 162 | 139 |
| Total assets | 1,725 | 1,615 | 1,442 | 1,258 | 1,171 | 873 | 747 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 12.25 | 7.79 | 3.57 | 30.31 | 42.35 | 20.92 | 3.59 |
| Net cash from operating activities | 52.90 | 61.82 | 72.37 | 125 | 109 | 90.86 | 110 |
| Net cash from investing activities | (25.09) | (41.29) | (51.23) | (118) | (104) | (52.60) | (61.38) |
| Net cash from financing activities | (26.97) | (16.07) | (16.93) | (34.58) | (16.89) | (16.83) | (31.46) |
| Net change in cash | 0.84 | 4.46 | 4.21 | (26.74) | (12.04) | 21.42 | 17.33 |
| Closing cash | 18.39 | 16.26 | 12.43 | 86.94 | 67.98 | 52.06 | 22.42 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| EBITDA growth | -7.4% | +399.6% | -81.1% | -44.9% | +90.4% | -6.9% | - |
| PBT growth | -13.4% | +398.4% | -78.6% | -50.4% | +111.7% | -12.3% | -51.0% |
| Net income growth | +2.2% | +458.8% | -83.4% | -50.2% | +128.8% | -26.8% | - |
| Revenue CAGR (3Y) | +0.1% | -6.0% | +3.3% | +15.8% | +12.6% | +7.8% | +15.0% |
| EBITDA CAGR (3Y) | -4.4% | -19.6% | -41.7% | -0.8% | -2.5% | -0.6% | +44.9% |
| Profitability & leverage | |||||||
| Net income margin | +6.9% | +8.7% | +2.1% | +7.3% | +13.7% | +9.5% | +13.7% |
| Return on capital employed | +6.1% | +7.6% | +1.6% | +9.0% | +21.2% | +12.8% | +16.2% |
| Return on net worth | +4.6% | +5.7% | +1.0% | +6.7% | +16.1% | +9.2% | +13.7% |
| Debt / equity | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 5.45 | 4.14 | -40.87 | 3.53 | 1.53 | 3.20 | 3.52 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.61 | 1.56 | 1.40 | 1.93 | 2.28 | 1.62 | 1.92 |
| Inventory turnover | 9.80 | 9.76 | 6.95 | 7.35 | 10.06 | 10.22 | 9.59 |
| Debtors turnover | 4.59 | 4.88 | 4.84 | 6.13 | 6.34 | 4.65 | 4.56 |
| EPS (₹) | 60.19 | 67.87 | 13.53 | 63.59 | 128.24 | 56.55 | 76.43 |
| Dividend per share (₹) | 13.70 | 13.75 | 5.50 | 11.25 | 22.50 | 11.25 | 10.00 |
| Book value per share (₹) | 1,354.75 | 1,263.84 | 1,135.23 | 987.82 | 914.32 | 677.41 | 557.56 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 294 | 281 | 233 | 270 | 309 | 248 | 196 | 269 |
| Revenue growth (YoY) | -5.1% | +13.4% | +18.9% | +0.5% | +16.8% | - | - | - |
| Other income | 6.17 | 2.87 | 4.86 | 4.22 | 11.79 | 4.40 | 5.07 | 5.90 |
| Total expenses | 251 | 259 | 218 | 240 | 267 | 228 | 184 | 220 |
| EBITDA | 42.44 | 22.05 | 15.92 | 30.11 | 42.33 | 19.82 | 12.33 | 49.26 |
| EBITDA margin | +14.4% | +7.8% | +6.8% | +11.1% | +13.7% | +8.0% | +6.3% | +18.3% |
| Depreciation | 9.55 | 9.56 | 9.10 | 9.04 | 8.87 | 8.68 | 8.46 | 8.60 |
| Interest | 0.59 | 0.25 | 0.45 | 0.75 | 1.01 | 0.26 | 0.28 | 1.21 |
| Profit before tax | 38.47 | 15.11 | 11.23 | 24.54 | 44.24 | 15.28 | 8.66 | 45.35 |
| Tax | 9.37 | 2.41 | 2.82 | 5.81 | 10.68 | 3.91 | 2.26 | 11.10 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,094 | 978 | 826 | 1,090 | 1,178 | 749 | 702 |
| Revenue growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| Other income | 23.74 | 26.48 | 29.35 | 10.56 | 14.21 | 8.26 | 8.08 |
| Total expenses | 982 | 856 | 801 | 962 | 946 | 628 | 572 |
| Employee cost | 133 | 122 | 105 | 105 | 106 | 89.38 | 84.61 |
| EBITDA | 112 | 122 | 25.24 | 128 | 232 | 122 | 131 |
| EBITDA margin | +10.2% | +12.5% | +3.1% | +11.8% | +19.7% | +16.2% | +18.6% |
| Depreciation | 36.58 | 33.78 | 31.42 | 31.36 | 30.66 | 27.15 | 22.78 |
| Interest | 4.06 | 3.57 | 2.96 | 3.39 | 3.06 | 3.02 | 3.79 |
| Profit before tax | 95.12 | 111 | 20.21 | 104 | 212 | 99.71 | 112 |
| Tax | 21.72 | 27.41 | 5.09 | 25.50 | 51.94 | 29.51 | 18.73 |
| Net profit | 73.68 | 74.32 | 11.40 | 78.79 | 160 | 69.51 | 93.54 |
| Net profit margin | +6.7% | +7.6% | +1.4% | +7.2% | +13.6% | +9.3% | +13.3% |
| EPS (₹) | 58.39 | 66.42 | 12.02 | 62.41 | 127.41 | 55.84 | 74.36 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 | 6.29 |
| Reserves & surplus | 1,215 | 1,171 | 1,069 | 985 | 926 | 710 | 595 |
| Shareholders' funds (net worth) | 1,221 | 1,177 | 1,076 | 992 | 933 | 716 | 601 |
| Secured loans | 0.09 | 0.05 | 0.00 | 0.89 | 0.04 | 0.18 | 12.45 |
| Unsecured loans | 7.79 | 12.23 | 1.78 | 1.78 | 7.37 | 8.42 | 11.67 |
| Total debt | 7.88 | 12.28 | 1.78 | 2.67 | 7.41 | 8.60 | 24.12 |
| Total liabilities | 1,243 | 1,204 | 1,091 | 1,008 | 954 | 737 | 647 |
| Assets | |||||||
| Gross block | 698 | 653 | 596 | 578 | 550 | 482 | 444 |
| Net block | 472 | 455 | 424 | 428 | 427 | 389 | 376 |
| Capital work in progress | 37.93 | 12.75 | 18.52 | 19.31 | 21.20 | 16.85 | 9.55 |
| Investments | 589 | 635 | 583 | 359 | 295 | 209 | 156 |
| Inventories | 129 | 93.99 | 106 | 131 | 165 | 68.97 | 77.72 |
| Sundry debtors | 261 | 216 | 185 | 157 | 199 | 173 | 150 |
| Cash & bank balances | 15.21 | 12.87 | 11.82 | 86.46 | 65.90 | 51.65 | 18.31 |
| Loans & advances | 26.51 | 16.98 | 38.90 | 14.38 | 33.07 | 18.75 | 13.79 |
| Total current assets | 432 | 340 | 342 | 389 | 463 | 312 | 260 |
| Total current liabilities | 221 | 163 | 201 | 122 | 197 | 151 | 126 |
| Net working capital | 211 | 177 | 141 | 267 | 267 | 161 | 133 |
| Total assets | 1,243 | 1,204 | 1,091 | 1,008 | 954 | 737 | 647 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 9.06 | 7.36 | 3.27 | 28.40 | 42.10 | 16.97 | 3.05 |
| Net cash from operating activities | 54.17 | 63.45 | 73.43 | 127 | 109 | 90.15 | 110 |
| Net cash from investing activities | (26.14) | (45.69) | (52.41) | (117) | (106) | (48.18) | (65.00) |
| Net cash from financing activities | (26.97) | (16.07) | (16.93) | (34.57) | (16.88) | (16.83) | (31.45) |
| Net change in cash | 1.06 | 1.69 | 4.09 | (25.13) | (13.70) | 25.14 | 13.92 |
| Closing cash | 15.21 | 12.87 | 11.82 | 86.46 | 65.90 | 51.65 | 18.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +11.9% | +18.4% | -24.2% | -7.5% | +57.2% | +6.7% | - |
| EBITDA growth | -8.0% | +382.5% | -80.3% | -44.7% | +90.4% | -6.9% | - |
| PBT growth | -14.2% | +448.7% | -80.6% | -51.0% | +112.7% | -11.1% | -51.8% |
| Net income growth | -0.9% | +551.9% | -85.5% | -50.9% | +130.7% | -25.7% | - |
| Revenue CAGR (3Y) | +0.1% | -6.0% | +3.3% | +15.8% | +12.6% | +8.8% | +16.4% |
| EBITDA CAGR (3Y) | -4.4% | -19.3% | -40.8% | -0.7% | -2.5% | -0.6% | +45.0% |
| Profitability & leverage | |||||||
| Net income margin | +6.7% | +8.5% | +1.8% | +7.2% | +13.6% | +9.4% | +13.3% |
| Return on capital employed | +8.1% | +10.0% | +1.8% | +10.9% | +25.4% | +14.8% | +18.5% |
| Return on net worth | +6.1% | +7.4% | +1.1% | +8.2% | +19.4% | +10.7% | +15.7% |
| Debt / equity | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.02 | 0.03 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 5.38 | 4.06 | -47.90 | 3.50 | 1.52 | 3.20 | 3.51 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.62 | 1.57 | 1.41 | 1.93 | 2.28 | 1.62 | 1.94 |
| Inventory turnover | 9.80 | 9.76 | 6.95 | 7.35 | 10.06 | 10.22 | 9.77 |
| Debtors turnover | 4.59 | 4.88 | 4.84 | 6.13 | 6.34 | 4.65 | 4.63 |
| EPS (₹) | 58.39 | 66.42 | 12.02 | 62.41 | 127.41 | 55.84 | 74.36 |
| Dividend per share (₹) | 13.75 | 13.75 | 5.50 | 11.25 | 22.50 | 11.25 | 10.00 |
| Book value per share (₹) | 971.51 | 936.46 | 855.74 | 788.92 | 741.99 | 569.47 | 478.22 |
To see the full year-wise statements and ratios of Excel Industries Limited, buy the company report.
Board of directors of Excel Industries Limited
Excel Industries has 9 current directors and 26 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashwin Champraj Shroff Also directs: Transpek Industry Limited, Excel Bio Resources Limited, Developmental & Eco-Friendly Enterprises and 5 more | Whole-Time Director | 01 Feb 2010 | 16 Years 8 Months | Current |
| Ravi Ashwin Shroff Also directs: Transpek Industry Limited, Excel Bio Resources Limited, Anshul Specialty Molecules Private Limited and 5 more | Managing Director | 03 Sep 2019 | 7 Years 1 Months | Current |
| Meena Amar Galliara | Director | 27 Jun 2019 | 7 Years 3 Months | Current |
| Hrishit Ashwin Shroff Also directs: Excel Bio Resources Limited, Anshul Specialty Molecules Private Limited, Mobitrash Recycle Ventures Private Limited and 5 more | Whole-Time Director | 27 Jun 2019 | 7 Years 3 Months | Current |
| Ninad Dwarkanath Gupte Also directs: Sumitomo Chemical India Limited, Shrujan Chanda Private Limited | Director | 13 Aug 2024 | 2 Years 2 Months | Current |
| Rajesh Rama Varma | Director | 13 Aug 2024 | 2 Years 2 Months | Current |
Peer comparison
Excel Industries Limited is compared with the 7 companies closest to it by revenue in the Chemicals industry (Industrial Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Excel Industries Limitedthis company | ₹1,094.52 Cr (FY 2026) | ₹75.98 Cr | 6.9% | 11.9% | 898 | Mumbai, Maharashtra, India |
| Punjab Chemicals and Crop Protection Limited | ₹901.95 Cr (FY 2025) | -4.0% | Derabassi, Punjab, India | |||
| Universal Biofuels Private Limited | ₹898.98 Cr (FY 2024) | 271.0% | Hyderabad, Telangana, India | |||
| Jocil Limited | ₹867.49 Cr (FY 2025) | 15.0% | Andhra Pradesh, India | |||
| Industrial Solvents and Chemicals Private Limited | ₹859.51 Cr (FY 2025) | 19.0% | Mumbai, Maharashtra, India | |||
| J.G.Chemicals Limited | ₹857.96 Cr (FY 2025) | 27.0% | Kolkata, West Bengal, India | |||
| Esteem Industries Private Limited | ₹848.24 Cr (FY 2024) | -8.0% | Goa, India | |||
| Rama Phosphates Limited | ₹747.23 Cr (FY 2025) | 23.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Excel Industries Limited, buy the company report.
Auditor
Excel Industries Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Price Waterhouse Chartered Accountants LLP | FY 2023 | 012754N/N500016 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 51.90%, foreign institutional investors hold 1.80%, domestic institutional investors hold 7.10% and retail and other public shareholders hold 39.20%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 51.90% | 52.70% | 52.70% | 52.70% |
| Public | 48.10% | 47.30% | 47.30% | 47.30% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Jun 2016 | 100037233 | Bank of India | ₹110 Cr | Open | |
| 13 Jun 2001 | 90240788 | Bank of India | ₹110 Cr | Open | |
| 30 Mar 2021 | 100445126 | Axis Bank Limited | ₹85 Lakh | Satisfied | |
| 05 Jul 2016 | 100039790 | Others | ₹5 Cr | Satisfied | |
| 28 Jan 2014 | 10484913 | Bank of India | ₹10 Cr | Satisfied |
To see the full charge records of Excel Industries Limited, buy the company report.
Total charge records: 17 View all charges
Deals & funding
Excel Industries Limited has 17 deals on record (13 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹13.8 Cr; the latest was in August 2026.
Deals on record (5 of 17)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2026 | Market trade | ₹7.16 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Aug 2024 | Market trade | ₹9.81 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Feb 2022 | Market trade | ₹8.21 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Aug 2018 | Secondary share transfer | Undisclosed | Buyer: Anshul Specialty Molecules Private Limited , Shrodip Investments Private Limited , Pritami Investments Pvt Ltd , an individual Seller: Others Excel Industries Limited, Utkarsh Global Holdings Private Limited , 2 individuals |
| Dec 2014 | Funding round | ₹13.8 Cr | Investors: Utkarsh Global Holdings Private Limited |
To see the full deal history of Excel Industries Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Excel Industries Limited has 268 court cases on record: 106 filed by Excel Industries, 166 filed against it. 30 cases are pending and 238 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 156 | 97 | 12 |
| District courts | 97 | 59 | 15 |
| Supreme Court | 15 | 10 | 3 |
Cases on record (5 of 268)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Kozhikode, Kerala | Execution petition | Filed by the company against Wynsum Agritech Private Limited and 1 other | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by Tata Business Hub Limited | Disposed |
| High Court | Appeal | Filed by the company against Wynsum Agritech Private Limited and 1 other | Disposed |
| Bombay High Court | Court case (CHS) | Filed by the company against Heranba Industries Ltd. | Disposed |
| Bombay High Court | Company petition | Filed by the company against Shree Maa Pharma Chem Limited | Disposed |
To see the full case history of Excel Industries Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Excel Industries Limited was last rated by Crisil on 17 Dec 2019.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 17 Dec 2019 |
To see the full credit ratings and regulatory alerts of Excel Industries Limited, buy the company report.
MSME payment delays
Excel Industries Limited has 14 MSME Form 1 returns on record between 2019 and 2024, listing 748 overdue payments to 76 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 76)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| M/S. Atharv Chemicals | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Excel Industries Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Excel Industries has 2 subsidiary companies and 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Excel Bio Resources Limited | U01403MH2007PLC176907 | |
| Kamaljyot Investments Limited | U65990MH1983PLC030597 |
To see the full group structure of Excel Industries Limited, buy the company report.
Employees & EPFO
Excel Industries Limited has a workforce of 898 employees on its EPFO records as of Apr 09, 2024, across 7 active EPFO establishments.
GST
Excel Industries has 16 GST registrations: 8 active and 8 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACE2488F1ZO | Maharashtra | Active | 01 Jul 2017 |
| 27AAACE2488F2ZN | Maharashtra | Active | 01 Apr 2025 |
| 24AAACE2488F1ZU | Gujarat | Active | 01 Jul 2017 |
| 36AAACE2488F1ZP | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Excel Industries Limited, buy the company report.
Recent activity
Excel Industries Limited has 54 board changes on record since 1964: 33 appointments and 21 cessations. The latest: Mahtabuzzaman was appointed as Additional Director on 22 May 2026.
83 earlier events are in the company report.
News
Frequently asked questions
Excel Industries is an active public limited company based in Mumbai, Maharashtra, India. The company works in chemical products, within the chemicals industry. It was incorporated on 05 September 1960 (66+ years old) and is registered under CIN L24200MH1960PLC011807. Listed on BSE: 500650 and NSE: EXCELINDUS.
Excel Industries reported revenue of ₹1,094.52 Cr for FY 2025-26 (up 11.9% YoY) based on consolidated financials.
Excel Industries has 9 current directors:
- Ravi Ashwin Shroff - Managing Director
- Ashwin Champraj Shroff - Whole-Time Director
- Hrishit Ashwin Shroff - Whole-Time Director
- Meena Amar Galliara - Director
- Ninad Dwarkanath Gupte - Director
- Rajesh Rama Varma - Director
- Shekhar Shreedhar Khanolkar - Director
- Vihang Ajit Virkar - Director
- Mahtabuzzaman - Additional Director
The latest financial statements of Excel Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 21 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Excel Industries is 27AAACE2488F1ZO, registered in Maharashtra. The company has 16 GST registrations in all, of which 8 are active and 8 are cancelled or inactive. Other active GSTINs include 27AAACE2488F2ZN (Maharashtra), 24AAACE2488F1ZU (Gujarat), 36AAACE2488F1ZP (Telangana).
The CIN (Corporate Identification Number) of Excel Industries is L24200MH1960PLC011807. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Excel Industries is a listed company as per MCA records. Its shares are listed on both BSE (code: 500650) and NSE (symbol: EXCELINDUS).
Excel Industries has 268 court cases on record: 106 filed by the company and 166 filed against it. 30 are pending. Most are in the high courts.
Excel Industries was incorporated on 05 September 1960, making it 66+ years old. It is registered with the Registrar of Companies, Mumbai.
Excel Industries has 17 deals on record (13 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹13.8 Cr; the latest was in August 2026.
The peers of Excel Industries by revenue are Punjab Chemicals and Crop Protection Limited, Universal Biofuels Private Limited, Jocil Limited, Industrial Solvents and Chemicals Private Limited, J.G.Chemicals Limited and 2 more, all in the Chemicals industry (Industrial Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Mahtabuzzaman was appointed as Additional Director on 22 May 2026. Dinesh Kumar Bhagat ceased to be Nominee Director on 29 Oct 2025. Atul Shroff Govindji ceased to be Director on 08 Oct 2024. Excel Industries has 54 board changes on record in total.