Excel Industries Appoints Mahtabuzzaman as Nominee Director

excel industries has appointed Mr. Mahtabuzzaman as an Additional Director designated as Nominee Director, effective May 22, 2026. The appointment was made by the Board of Directors during its meeting held on the same date and is subject to the approval of the company's members through a postal ballot process.

Mr. Mahtabuzzaman is not related to any of the existing directors and is not debarred from holding the office of Director by any regulatory authority. As a Non-Executive Nominee Director, he is entitled to sitting fees and commission for attending Board meetings and will be liable to retire by rotation.

Profile of the New Director

Mr. Mahtabuzzaman possesses extensive experience in the life insurance sector, spanning over 36 years. He began his career with the Life Insurance Corporation of India (LIC) in 1989 as a Direct Recruit Officer and rose to the position of Executive Director in 2022. His professional background includes handling responsibilities across various areas of life insurance operations and marketing, as well as a three-year deputation with the Insurance Regulatory and Development Authority of India (IRDAI).

He holds a Science graduate degree, is a Fellow of the Insurance Institute of India, and holds a Diploma in Health Insurance. Additionally, he has completed a Post Graduate Executive Programme (PGEP) from the Indian Institute of Management Ahmedabad (IIM Ahmedabad).

Updated Board Composition

With the inclusion of Mr. Mahtabuzzaman, the Board of Directors of Excel Industries Limited now comprises nine members. The updated list of directors, effective May 22, 2026, is as follows:

Sr. No.	Name of the Director	Designation
1.	Mr. Ashwin C Shroff	Executive Chairman
2.	Mr. Ravi A Shroff	Managing Director
3.	Mr. Hrishit A Shroff	Executive Director
4.	Dr. Meena Galliara	Non-Executive Independent Director
5.	Mr. Ninad Gupte	Non-Executive Independent Director
6.	Mr. Shekhar Khanolkar	Non-Executive Independent Director
7.	Mr. Rajesh Varma	Non-Executive Independent Director
8.	Mr. Vihang Virkar	Non-Executive Independent Director
9.	Mr. Mahtabuzzaman	Non- Executive Nominee Director

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.69%	-0.44%	+3.83%	+3.74%	-12.14%	-13.59%

Excel Industries Limited has disclosed the resignation of Mr. Kapil Kashiv, General Manager – Strategy, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter was dated 15th May, 2026, and the disclosure was filed with both BSE Ltd. and the National Stock Exchange of India Ltd. by Company Secretary S K Singhvi.

Resignation Details

Mr. Kapil Kashiv formally tendered his resignation from the post of General Manager – Strategy, citing personal circumstances as the reason for his departure. In his resignation letter addressed to Mr. Ravi Shroff, Executive Director, Mr. Kashiv described his tenure at Excel Industries Limited as deeply fulfilling and expressed gratitude for the opportunities extended to him. He requested to be relieved from the company's services by the close of business on 8th June, 2026.

The key details of the resignation, as disclosed under Schedule III – Para A (7C) of Part A of Regulation 30 of the SEBI (LODR) Regulations, 2015, are summarised below:

Parameter:	Details
Name:	Mr. Kapil Kashiv
Designation:	General Manager – Strategy
Reason for Cessation:	Personal reasons
Date of Resignation Letter:	15th May, 2026
Last Working Day:	8th June, 2026

Senior Management Personnel

As part of the regulatory disclosure, Excel Industries Limited also provided an updated list of its Senior Management Personnel. The following individuals currently form the senior management team:

Sr. No.	Name	Designation
1	Mr. Pradeep N Ghattu	President & Chief Operating Officer
2	Mr. Devendra P. Dosi	Chief Financial Officer
3	Mr. Surendra K. Singhvi	Company Secretary & VP-CSR

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter and the list of Senior Management Personnel were enclosed as annexures to the filing. The company has indicated that this information will also be made available on its official website at www.excelind.co.in .