Excel Industries has released its audited financial results for the year ended March 31, 2026. The company reported a revenue from operations of Rs 1,094.2 crore for the fiscal year, an increase of 12% compared to Rs 978.1 crore in the previous year. Profit for the period stood at Rs 73.4 crore, a decrease from Rs 83.5 crore in FY25.

Financial Performance

The Board of Directors approved the financial results on May 22, 2026. For the quarter ended March 31, 2026, the company recorded a revenue from operations of Rs 281.1 crore and a profit after tax of Rs 12.7 crore. The company’s adjusted EBITDA for Q4 FY26 was Rs 22.4 crore, with margins remaining stable at 8%. The following table summarises the annual financial performance:

Operational Highlights

In Q4 FY26, revenue growth was driven by increased demand for agrochemical intermediates and better price realization. For the full year, exports revenue constituted 20% of total revenue, growing by 26% over the previous year due to improved demand in performance solutions. The adjusted EBITDA margin for FY26 stood at 10.1%, down from 12.3% in FY25, impacted by higher key input material costs.

Dividend Declaration

The Board has recommended a dividend of Rs 13.75 per equity share, which is 275% of the face value of Rs 5 each, for the financial year 2025-26. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting.

Outlook

The company stated that operations continued smoothly in April and May without raw material disruptions, and it has been able to pass on price increases in key products. However, forecasts regarding "El Niño" raise concerns regarding raw material prices and agrochemical intermediates demand outlook. The company plans to invest Rs 200–300 crore over the next three years in capacity expansion and technology.

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: