Excel Industries shareholders approved a final dividend of ₹13.75 per equity share of face value ₹5 each during the company's 65th Annual General Meeting held on September 24, 2026.

The meeting was conducted through two-way video conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars. Ashwin C. Shroff, Executive Chairman, presided over the session, noting that all directors were present. The statutory auditors, Price Waterhouse Chartered Accountants LLP, and the secretarial auditor submitted unqualified reports for the financial year ended March 31, 2026.

Key resolutions passed

The Chairman presented five resolutions for e-voting, covering financial adoption, dividend declaration, director reappointment, remuneration approval, and cost auditor ratification. Remote e-voting was open from September 21 to September 23, 2026, with additional voting available during the live meeting. All resolutions were passed with requisite majorities.

Leadership and attendance

The board composition reflected a mix of executive leadership and independent oversight. Key attendees included Ravi A. Shroff, Managing Director, and Hrishit A. Shroff, Executive Director, who addressed shareholder queries alongside the Chairman. Independent directors Dr. Meena Galliara, Ninad Gupte, Rajesh Varma, Shekhar Khanolkar, and Vihang Virkar were also present, along with Mahtabuzzaman, the LIC Nominee Director.

Prashant Diwan, Practicing Company Secretary, served as the scrutinizer for the e-voting process. The combined results of remote and live voting, along with the scrutinizer's report, were submitted to stock exchanges on September 25, 2026.

What the Numbers Show

Voting data reveals a divergence in shareholder sentiment regarding executive compensation. While the dividend declaration and financial statement adoption received near-unanimous support (100.00% assent), the resolution approving remuneration for Executive Directors saw 99.49% assent, with 0.51% dissent.

Notably, all dissenting votes on the remuneration resolution came from the Public-Institution category, which voted against by a margin of 3.88% within their group. Promoter and Promoter Group holdings voted unanimously in favor across all items. Total participation stood at approximately 53% of outstanding shares, with promoters accounting for the majority of votes polled.

Excel Industries Limited has been awarded a Silver Rating in the EcoVadis Sustainability Assessment, placing it among the top 15% of businesses evaluated globally. The recognition validates the company’s integrated approach to sustainability management.

The disclosure was made on September 17, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The press release confirms that the rating reflects measurable progress in sustainability systems, value chain engagement, environmental performance, and reporting transparency.

Assessment Framework

The EcoVadis evaluation benchmarks performance against internationally recognized frameworks, including the UN Global Compact, ILO conventions, GRI Standards, and the TCFD framework. The assessment covers 21 criteria distributed across four core pillars:

• Environment
• Labour & Human Rights
• Ethics
• Sustainable Procurement

The Silver category indicates that Excel Industries has established a robust sustainability management framework supported by substantial evidence for its disclosures.

Strategic Implications

Ravi A. Shroff, Managing Director of Excel Industries , stated that the rating serves as validation of how sustainability is embedded into business operations. He noted that this achievement aims to strengthen relationships with existing customers and facilitate new partnerships as the company expands its global footprint in performance solutions and contract manufacturing.

The company operates three large-scale manufacturing sites in Roha, Lote, and Vishakhapatnam. It specializes in agrochemical intermediates, specialty chemicals, polymer inputs, and pharmaceutical APIs. The sustainability principles are guided by the core philosophy of People, Planet, and Progress.

What the Numbers Show

The placement within the top 15% of globally assessed businesses provides a concrete benchmark for Excel Industries’ non-financial performance. While financial metrics drive valuation, this rating signals reduced regulatory and reputational risk in international supply chains, particularly relevant as the firm seeks to expand its contract manufacturing presence abroad.