About Excel Industries Limited

Excel Industries Limited is one of India’s oldest and most respected chemical companies, with a legacy that traces back to 1941 and incorporation as a public limited company in 1960. Listed on BSE Limited and the National Stock Exchange of India Limited, the company operates across speciality chemicals, intermediates, actives and environmental-biotech solutions. Its products serve diverse end-use segments including agrochemicals, water treatment, detergents, lube oil additives, mining, polymer additives and pharmaceuticals. Excel also undertakes contract manufacturing for third parties and caters to both domestic and international markets.

The company is recognised globally for its pioneering work in phosphorus chemistry. It is among the Top 5 producers of phosphonates worldwide and the world’s No.1 producer of DETC, supported by advanced manufacturing infrastructure across three units in India. Its environmental and biotech division offers solutions for organic waste management, municipal solid waste, plastic waste management and construction & demolition (C&D) waste management—currently contributing around 1% of total revenue through both centralised and decentralised models.

Excel operates three manufacturing units and three offices across India, with its registered office in Mumbai. Its product portfolio includes agrochemical intermediates such as P₂S₅, PCl₃, PCl₅, PSCl₃ and DETC; speciality chemicals including chelating and anti-scaling agents (HEDP, ATMP, DTPMP); acetyl chloride; phenolic and non-phenolic biocides; polymer additives; and selected pharmaceutical intermediates and APIs like Febuxostat, Teneligliptin API and Butaphosphan.

As on March 31, 2025, the company has three subsidiaries and associate companies; one associate exited during the year following divestment by a subsidiary.

Excel Industries Limited Key Milestones

Key milestones include:

• Pioneering phosphorus chemistry since inception.
• Establishing global leadership in phosphonates and DETC production.
• Diversifying into agrochemical intermediates, speciality chemicals, polymer additives and pharmaceutical APIs.
• Developing environmental and biotech solutions for waste management.
• Expanding manufacturing capabilities across three industrial sites in India.

Excel Industries Limited Business Segments

Speciality Chemicals & Intermediates

• Agrochemical intermediates: P₂S₅, PCl₃, PCl₅, PSCl₃, DETC
• Chelating & anti-scaling agents: HEDP, ATMP, DTPMP
• Biocides (phenolic & non-phenolic)
• Acetyl chloride and polymer additives

Pharmaceutical Intermediates & APIs

• Febuxostat
• Teneligliptin API
• Butaphosphan

Environmental & Biotech Technologies (E&BT)

• Organic waste management
• Municipal solid waste processing
• Plastic waste management
• C&D waste recycling (including aggregates and paver block production)
• Contribution to revenue: approx. 1% and positioned as a niche but strategic vertical

Excel Industries Limited Key Management

• Ashwin C. Shroff – Executive Chairman
• Ravi A. Shroff – Managing Director
• Hrishit A. Shroff – Executive Director
• Devendra P. Dosi – Chief Financial Officer
• Surendra K. Singhvi – Company Secretary

Latest Updates on Excel Industries Limited

Strategic supply agreement:
In May 2024, the company entered into a long-term supply agreement with a multinational corporation for a speciality chemical, with supplies expected from the end of Q2 FY 2024–25.

Expansion in biocides:
Excel invested Rs 10.3 crore to double the capacity of one of its biocide products, supported by strong demand and customer feedback. The company also expanded its portfolio into chemistries where it holds deep expertise.

New R&D centre:
A state-of-the-art corporate R&D centre is under development with an investment of Rs 15 crore, scheduled to be operational in the first half of FY 2025–26 to accelerate product innovation and value-added offerings.

Medium-term capex plan:
The company outlined a calibrated capex programme of Rs 200–300 crore over the next three years for plant modernisation, new product development, capacity expansion and technology upgrades.

E&BT operational milestone:
Excel Rajkot C&D Waste Recycling Private Limited commenced receiving and processing construction & demolition waste into aggregates. The facility includes a BIS-compliant laboratory and has started producing paver blocks.