Excel Industries Limited has informed stock exchanges about the submission of a promoter reclassification application to BSE for regulatory approval. The company disclosed this development under Regulation 31A (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Application Process

The company's Board of Directors had previously approved the reclassification request on 3rd February, 2026. The application seeks to reclassify the status of a promoter from Promoter group category to Public category. Excel Industries has now completed the formal submission process to BSE with all required documentation.

Submission Timeline

The company followed a structured approach for the application submission:

Regulatory Framework

The disclosure was made in compliance with SEBI regulations governing promoter reclassification. The application includes all requisite documents as mandated by the regulatory framework. The company is now awaiting BSE's approval for the proposed reclassification.

Current Status

Excel Industries has completed its part of the application process and submitted all necessary documentation to BSE. The exchange will now review the application and supporting documents before making a decision on the reclassification request. Company Secretary Surendra K Singhvi signed the disclosure document on 24th February, 2026.

Excel Industries Limited has received board approval for the reclassification of promoter group member Malti D. Bhatia to public shareholder status. The company's Board of Directors approved the request on February 3, 2026, following the initial application submitted on January 28, 2026.

Board Approval and Resolution

The Board of Directors at their meeting held on February 3, 2026, considered and approved Bhatia's reclassification request from promoter group category to public category. The approval is subject to consent from stock exchanges where the company's equity shares are listed - BSE and NSE - and any other required regulatory approvals.

Regulatory Compliance Framework

The board confirmed that Bhatia's application complies with all requirements under Regulation 31A(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In her application, Bhatia provided comprehensive confirmations regarding regulatory compliance.

Key compliance confirmations include:

• Does not hold more than 10% of total voting rights
• Does not exercise control over company affairs directly or indirectly
• Has no special rights through formal or informal arrangements
• Not represented on the board of directors
• Does not act as key managerial person
• Not a wilful defaulter per RBI Guidelines
• Not a fugitive economic offender

Post-Reclassification Undertakings

Bhatia committed to ongoing compliance with SEBI regulations following reclassification. She undertook to continue complying with sub-clauses (i), (ii) and (iii) of Regulation 31A(3) at all times from the reclassification date.

The applicant also confirmed no pending regulatory action against her and accepted automatic reclassification as promoter group member if conditions are violated.

Stock Exchange Communication

Company Secretary S K Singhvi digitally signed the notification to BSE and NSE on February 3, 2026. The communication referenced BSE Scrip Code 500650 and NSE Scrip Code EXCELINDUS, informing stock exchanges of the board's decision and requesting their approval.

The company has made the board meeting extract and complete application available to stock exchanges for review. This information will also be made available on the company's website at www.excelind.co.in as part of standard disclosure requirements.