Excel Industries Limited has submitted its quarterly compliance certificate to stock exchanges, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.

Regulatory Compliance Certificate

The company filed the mandatory certificate under Regulation 74(5) on April 7, 2026, addressing both BSE Limited and National Stock Exchange of India Limited. The certificate covers dematerialization activities during the fourth quarter of fiscal year 2026.

Dematerialization Process Confirmation

Excel Industries confirmed that all securities received from depositories for dematerialization during Q4 FY26 were properly processed. The company certified that:

• Securities received for dematerialization were confirmed to depositories within stipulated timeframes
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Registrar Confirmation

MUFG Intime India Pvt Ltd, serving as the company's registrar and transfer agent, provided supporting confirmation dated April 6, 2026. The registrar verified that all dematerialization activities during the quarter were conducted in compliance with regulatory requirements.

Administrative Details

The compliance certificate was signed by Company Secretary S K Singhvi and submitted to both major stock exchanges. MUFG Intime India Pvt Ltd's confirmation was signed by Ashok Shetty, Sr. Vice President – Corporate Registry, noting that no rematerialization requests were received during the reporting period.

This quarterly filing demonstrates Excel Industries' adherence to SEBI's depositories and participants regulations, ensuring transparent and compliant handling of securities dematerialization processes.

Excel industries has announced the resignation of Mr. Dinesh Bhagat from his position as Nominee Director, effective from the close of business hours on March 23, 2026. The resignation was communicated to stock exchanges on March 24, 2026, in compliance with SEBI listing regulations.

Director Resignation Details

Mr. Dinesh Bhagat tendered his resignation through a formal letter dated March 23, 2026, citing the cessation of his term as the primary reason for stepping down from the board. The resignation follows a communication from the Life Insurance Corporation of India dated March 5, 2026, indicating the conclusion of his tenure as their nominee representative.

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes the resignation letter, detailed reasons for the departure, and an updated list of board directors. All documentation has been submitted to both BSE and NSE, and the information is available on the company's website.

Updated Board Composition

Following Mr. Bhagat's resignation, Excel Industries' board now consists of eight directors. The current board structure includes three executive directors and five non-executive independent directors, ensuring continued governance oversight.

The resignation represents a routine corporate governance matter related to the completion of the nominee director's designated term. Excel Industries continues to maintain a robust board structure with experienced independent directors providing strategic guidance and oversight.