Excel Industries Limited reported a 12% rise in consolidated sales turnover to ₹1,094.25 Crores for FY26, while net profit after tax declined 12% to ₹73.40 Crores. The results reflect elevated raw material input costs and demand headwinds for agrochemical intermediates following an extended monsoon.

The company submitted its Annual Report for FY26 to BSE and NSE on August 31, 2026. The Board recommended a final dividend of ₹13.75 (275%) per equity share, unchanged from the previous year. The 65th Annual General Meeting is scheduled for September 24, 2026.

Key Financial Performance

The following table summarises the company's standalone financial highlights for FY26 versus FY25.

Reserves excluding revaluation reserves as of March 31, 2026 stood at ₹1,214.96 Crores. Market capitalisation as of March 31, 2026 was ₹1,013 Crores.

Key Financial Ratios

The company disclosed the following key financial ratios, with movements exceeding 25% explained separately.

The decline in the debt-equity ratio was primarily due to a decrease in lease liabilities during the year.

Strategic Initiatives and Capital Deployment

During FY26, Excel Industries made material progress across its identified growth areas of contract manufacturing, performance solutions, and Yellow Phosphorous (YP) derivatives.

• In November 2025, the company signed a binding term sheet with an Indian specialty chemicals company for supply of a specialty chemical, effective for five years. A dedicated facility was commissioned at an estimated capex of ₹40 Crores; the customer provided a trade advance of ₹25 Crores. The term sheet has since been converted into a definitive agreement.
• The additional 2,530-tonne annual biocides capacity became operational in November 2025.
• The Corporate R&D Centre at Rabale, Navi Mumbai was commissioned in October 2025.
• The company reported zero long-term debt and a net cash positive position on its balance sheet.
• Net revenues grew 11.8%, exports rose 26%, and operating margin stood at 10.1%.

Dividend and AGM Details

The Board recommended a final dividend of ₹13.75/- (275%) per equity share of face value ₹5 each for FY26, the same as the previous year. The dividend is subject to shareholder approval at the 65th AGM.

Remote e-voting will commence on September 21, 2026 at 9:00 am and end on September 23, 2026 at 5:00 pm. The notice was published in Business Standard, Free Press Journal, and Navshakti on September 1, 2026.

Sustainability and ESG Highlights

The company sourced approximately 49% of electricity requirements at its Roha and Lote sites from renewable sources. Combined Scope 1 and Scope 2 emissions intensity declined from 0.795 tCO2/MT to 0.641 tCO2/MT, a reduction of 19.4%. CSR expenditure for FY26 stood at ₹172.50 Lakhs against ₹222.37 Lakhs in FY25. Total R&D expenditure for FY26 was ₹1,845.42 Lakhs, representing 1.69% of total turnover.

Corporate Information

As of March 31, 2026, employee strength stood at 1,162. The board comprised eight directors, including five independent directors, three executive directors, and one nominee director. CRISIL reaffirmed the company's long-term bank loan rating at CRISIL A+/Stable and short-term rating at CRISIL A1 on total bank loan facilities rated at ₹149.5 Crores.

Excel Industries has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, with the Bombay Stock Exchange and National Stock Exchange.

The disclosure outlines the company's environmental, social, and governance performance for FY26, highlighting improvements in resource efficiency and waste management across its manufacturing operations.

Operational Efficiency Metrics

The company reported a decline in energy intensity per rupee of turnover to 0.00009437 GJ/INR in FY26, down from 0.0001020 in the prior fiscal year. This improvement occurred despite a rise in total energy consumption to 10,32,939 GJ from 9,98,136 GJ in FY25.

Water intensity also improved, falling to 0.050 litre/rupee from 0.055 litre/rupee. Total water consumption stood at 5,51,229 KL, up slightly from 5,38,443 KL the previous year.

Environmental Management

Greenhouse gas emissions saw a reduction in intensity terms. Total Scope 1 and Scope 2 emissions per rupee of turnover dropped to 0.00000993 MT CO2/INR from 0.00001058 MT CO2/INR.

The Visakhapatnam facility operates as a Zero Liquid Discharge unit, while Roha and Lote sites have implemented partial ZLD with approved consented discharge facilities. The company generated 17,246.15 metric tons of waste in FY26, a slight decrease from 17,340 metric tons in FY25.

Social Impact and Governance

Employee turnover rates remained stable, with permanent employees showing a rate of 11.26% compared to 10.69% in FY25. The workforce comprises 675 permanent employees and 487 workers.

Under Principle 8, the company disclosed CSR spending of ₹50,00,000 in Raigad district and ₹60,00,000 in Ratnagiri district, Maharashtra. Procurement from MSMEs increased to 27.82% of total inputs, up from 24.42% in the previous year.

What the Numbers Show

The divergence between rising absolute energy consumption (+3.4%) and declining energy intensity highlights operational scaling outpacing efficiency gains on an absolute basis, though productivity per unit of energy improved. Similarly, waste generation declined marginally despite higher production volumes, suggesting effective waste management protocols are offsetting scale-related increases.