Excel Industries has disclosed the newspaper publication of its postal ballot notice seeking shareholder approval for the appointment of Mr. Mahtabuzzaman as a Nominee Director. The notice was published in Business Standard, Free Press Journal, and Navshakti on June 13, 2026. The resolution concerns the appointment of the candidate, who was nominated by LIC of India and initially appointed as an Additional Director by the Board on May 22, 2026.

Resolution Details

The special business seeks to appoint Mr. Mahtabuzzaman as a Nominee Director, with his tenure liable to be determined by the retirement of directors by rotation. The company received a notice from a member proposing his candidature under Section 160 of the Companies Act, 2013. The Board recommends the ordinary resolution for approval.

E-voting Schedule

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as of June 05, 2026, are eligible to vote. The remote e-voting facility will be available during the following period:

The resolution will be deemed passed upon receiving the requisite number of assent votes by the end of the e-voting period on July 14, 2026. The results will be announced within two working days of the conclusion of the postal ballot process.

Director Profile

Mr. Mahtabuzzaman brings over 36 years of experience in the life insurance industry, having served as an Executive Director at the Life Insurance Corporation of India (LIC). He holds a B.Sc, PGEP from IIM Ahmedabad, FIII, and D.HINS. His professional background includes extensive work in operations, marketing, and regulatory environments.

Excel Industries reported a 13% year-on-year increase in standalone revenue to INR281 crores for Q4FY26, compared to INR248 crores in the corresponding period of the previous year. Profit after tax for the quarter rose to INR13 crores from INR11 crores in Q4FY25. For the full financial year FY26, the company recorded net operating revenues of INR1,094 crores, a growth of 11.8% over FY25, with a profit after tax of INR73 crores. The Board has declared a final dividend of INR13.75 per equity share, which is 275% of the face value of INR5 per share.

Financial Performance

The adjusted EBITDA for Q4FY26 stood at INR22 crores, an increase of 13% year-on-year, with margins at 8%. For FY26, adjusted EBITDA was INR112 crores with margins of 10.1%. The company maintains a zero long-term debt position and is net cash positive, which it stated provides a cushion to weather operational challenges and invest in strategic initiatives.

Business Updates

Management noted that the first half of FY26 was challenging for the agrochemical sector due to an extended monsoon, but demand improved in Q4FY26. A capacity addition of 2,530 tons per annum in the biocides range became operational in the second half of FY26. The company also operationalized a new corporate R&D center at Rabale, Navi Mumbai. A contract manufacturing agreement with a multinational company is progressing, with capacity expected to come on stream in July 2026.

Outlook

The company indicated that while raw material availability and prices pose challenges for Q1, it has managed to pass on price increases. Growth drivers for FY27 are identified as Performance Solutions, YP Derivatives, and Contract Manufacturing. The company plans to launch a new biocide product in the second half of the financial year.