Excel Industries Limited · NSE:EXCELINDUS
Excel Industries — Q2 & H1 FY27 Earnings Presentation
44 slides from Excel Industries's earnings presentation, Nov 5, 2026
Slide 1: Exchange filing cover letter for investor presentation
IS/ISO9001:2015 IS/ISO14001:2015 IS/ISO 45001:2018 Excel Industries Ltd. Certifiedby BIS. 05th November, 2026 Certifiedby BIS. BSE Ltd. National Stock Exchange of India Ltd. Listing Department, Listing Department, Pheeroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex,
Slide 2: Investor Presentation Q2 & H1 FY27
EXCEL INDUSTRIES LIMITED Investor Presentation Q2 & H1 FY27 A backward integrated speciality chemicals company Est. 1941 | Roha · Lote · Visakhapatnam
Slide 3: Safe Harbour
Safe Harbour Forward-looking statements involve risks and uncertainties This presentation and the accompanying slides (the “Presentation”), which have been prepared by Excel Industries Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recomm
Slide 4: Q2 & H1 FY27 Financial Performance
Q2 & H1 FY27 Financial Performance What we delivered this quarter Excel Industries Limited — Investor Presentation Q2 & H1 FY27 3
Slide 5: M.D.'s Statement — Q2 & H1 FY27 Performance and Outlook
M.D.'s Statement — Q2 & H1 FY27 Performance and Outlook Diversification lifted margins in a weak agro season; focus areas to drive H2 Q2 & H1 performance Despite a monsoon at 87% of normal and underperformance of our key agrochemical intermediate DETC YoY Q2 revenue grew 2%, EBITDA 22% and PAT 42%.
Slide 6: Q2 & H1 FY27 Results Highlights (Standalone)
Q2 & H1 FY27 Results Highlights (Standalone) Margins expanded despite a weak agro season — diversification is working Q2 FY27 H1 FY27 ₹275 Cr ₹37 Cr ₹27 Cr ₹568 Cr ₹79 Cr ₹56 Cr Revenue EBITDA PAT Revenue EBITDA PAT +2% YoY +22% YoY +42% YoY −2% YoY +9% YoY +7% YoY EBITDA margin 13.3% (+220 bps YoY)
Slide 7: Standalone performance in Q2 FY27
Standalone performance in Q2 FY27 Revenue +2%; EBITDA +22% and PAT +42% as EBITDA margin rose 220 bps Revenue (₹ in Crs) EBITDA (₹ in Crs) PAT (₹ in Crs) +2% +22% +42% 270 275 37 27 30 19 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Revenue Profile (₹ in Crs) EBITDA Margin (%) PAT Margin (%) 270
Slide 8: Standalone performance in H1 FY27
Standalone performance in H1 FY27 Revenue at 98% of last year; EBITDA +9% and PAT +7% on 140 bps margin gain Revenue (₹ in Crs) EBITDA (₹ in Crs) PAT (₹ in Crs) -2% +9% +7% 580 568 79 56 72 52 H1 FY26 H1 FY27 H1 FY26 H1 FY27 H1 FY26 H1 FY27 Revenue Profile (₹ in Crs) EBITDA Margin (%) PAT Margin (%)
Slide 9: Sustainability Excellence
Sustainability Excellence EcoVadis Silver: score of 80/100, 93rd percentile globally EcoVadis score of 80/100: 93rd percentile globally (Sep 2026) Our performance across the four sustainability themes Environment Labour & Ethics Sustainable The EcoVadis rating recognises our: Human Procurement Right
Slide 10: Outlook — H2 FY27
Outlook — H2 FY27 Agro stays soft in Q3; focus groups and new capacity drive H2 Agrochemical intermediates Near-term demand weakness expected to persist into Q3 Headwind Focus on Performance Solutions, YP Derivatives and Contract Focus product groups Growth Manufacturing to continue Current contract
Slide 11: Standalone Profit and Loss Statement
Standalone Profit and Loss Statement Gross margin up 480 bps to 50.6%; Q2 PAT up 42% YoY Particulars (Rs. Cr) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Operations 274.6 270.2 1.6% 293.7 -6.5% 568.3 579.7 -2.0% Cost of Goods Sold 135.6 146.4 146.8 282.4 314.9 Gross Profit 13
Slide 12: Standalone Balance Sheet
Standalone Balance Sheet Strong balance sheet: equity of ₹1,278 Cr Particulars (Rs. Cr) Sep-26 Mar-26 Particulars (Rs. Cr) Sep-26 Mar-26 Assets Equity Non-current assets Equity share capital 6.3 6.3 Property, plant and equipment 431.1 395.7 Other equity 1271.4 1215.0 Right-of-use assets 22.2 38.4 To
Slide 13: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Consolidated Q2 PAT up 36% YoY to ₹28.9 Cr Particulars (Rs. Cr) Q2FY27 Q2FY26 Y-o-Y Q1FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Operations 274.7 270.2 1.6% 293.8 -6.5% 568.5 579.7 -1.9% Cost of Goods Sold 135.6 146.4 146.8 282.5 314.9 Gross Profit 139.1 123
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated equity rises to ₹2,064 Cr from ₹1,703 Cr in March 2026 Particulars (Rs. Cr) Sep-26 Mar-26 Particulars (Rs. Cr) Sep-26 Mar-26 Assets Equity Non-current assets Equity share capital 6.3 6.3 Property, plant and equipment 433.9 398.6 Other equity 2057.3 1696.7 Righ
Slide 15: Recognition Reflecting Our Safety Culture
Recognition Reflecting Our Safety Culture Award-winning safety culture across our sites MAHARASHTRA SAFETY AWARD 2025 SAFE-TECH AWARD 2026 | ROHA SITE Best Employee Training Campaign & 2 TROPHIES Lote Site | Category D Safety Awareness Excellence • Lowest Average Accident Frequency Rate 2 Safety Exe
Slide 16: Company Overview
Company Overview Who we are Excel Industries Limited — Investor Presentation Q2 & H1 FY27 15
Slide 17: Excel Industries – At a Glance
Excel Industries – At a Glance Phosphorus chemistry leader since 1941, with 3 manufacturing sites Founded in 1941 to make India self-reliant in Complex chemistries on a best-in-class Agrochemical intermediates, specialty chemicals through indigenous technology technology platform chemicals, polymer
Slide 18: Our Legacy of Leadership
Our Legacy of Leadership Eight decades of firsts in Indian phosphorus chemistry Pre 1970’s 1980’s 1990’s 2000’s 2010’s 2020’s 1970’s 1941 1971 1983 1991 2000 2012 2020/21 Excel industries Excel goes public, with Manufacture of DETC Excel celebrates Excel develops a co- Inauguration of Environmental
Slide 19: Diversified Product Portfolio
Diversified Product Portfolio Five product groups, plus contract manufacturing across the portfolio 01 02 03 04 05 Agrochemical YP Derivatives Performance Pharma Waste intermediates Solutions Intermediates Management & API P2S5, PSCL3, PCL3, Phosphonates, Acetyl Chloride, Excel OWC, DETC, DMTC, Inte
Slide 20: Serving Critical End-use Industries
Serving Critical End-use Industries Diverse end-markets reduce dependence on any single industry Agrochemical Corrosion Inhibitors Polymer Aids and Pharma & Other Organic Waste Biocide Intermediates & Chelating Agents Property modifiers Veterinary Intermediates Management Organophosphorus API for Go
Slide 21: Manufacturing Excellence
Manufacturing Excellence Three integrated sites: Roha, Lote and Vizag ROHA • One of Excel’s first large-scale sites • Main hub for key phosphorus-based products; among the largest handlers of yellow phosphorus in India • Makes chemical inputs, veterinary APIs, polymer additives and specialty chemica
Slide 22: Investing in Future Growth
Investing in Future Growth ₹200–300 Cr capex over 3 years to scale capacity and capabilities Capital Expenditure Capacity Expansion ₹200–300 Cr over 3 years in upgrades, Environmental clearances received to expand innovation, capacity and technology, plus ₹30–40 P2S5, DETC, diazotisation chemistry,
Slide 23: Distinctive Competitive Edge
Distinctive Competitive Edge Six strengths that underpin sustainable value creation Strong legacy and experience Diversified product portfolio Robust R&D capabilities Decades of phosphorus chemistry Chemical and environmental solutions Continuous R&D delivering future-ready powering agrochemical and
Slide 24: Industry has a Huge Potential
Industry has a Huge Potential Where the opportunity lies Excel Industries Limited — Investor Presentation Q2 & H1 FY27 23
Slide 25: Global Industry Landscape
Global Industry Landscape Global specialty chemicals: $941 Bn (2025) to $1,430 Bn (2036) China-plus- one MARKET SEGMENTATION The Global Specialty Chemical Industry was valued at $941Bn in 2025 and is projected to reach $1,430Bn by 2036, growing at a CAGR o Agrochemicals o Specialty o Surfactants of
Slide 26: Indian Chemical Industry: Strong Growth Ahead
Indian Chemical Industry: Strong Growth Ahead India is set to gain share in the global chemical value chain The Indian chemical industry is expected to reach $383 billion by 2030 (Source: EY) Globally, India is the third-largest The Indian Specialty Chemical Industry consumer of polymers, fourth-lar
Slide 27: ESG & CSR
ESG & CSR How we create shared value Excel Industries Limited — Investor Presentation Q2 & H1 FY27 26
Slide 28: Excel's Three Pillars of Sustainability
Excel’s Three Pillars of Sustainability People, Profit and Planet, balanced for long-term value All Three Aspects – People, Profit and Planet must be balanced to ensure Sustainability People: a safe, healthy workplace Planet: sustainable practices that go where employees find purpose and beyond comp
Slide 29: Corporate Social Responsibility
Corporate Social Responsibility ₹12+ Cr invested in communities over the last five years ₹ 12+ Crs spent on CSR activities in last 5 years Endeavors towards Committed to the Engaged in CSR creating positive UN’s Sustainability initiatives since change for the Development Goals. inception. environmen
Slide 30: Protecting the Environment
Protecting the Environment Water security, animal husbandry and rural livelihoods Water Security Through Community Animal Husbandry Drinking Water Facility Sand Filter Repairs of Water Wells, At- Nivi Fish Farming Pond follow-up Visit – Goat farming – Bhise Taluka Roha - At – Pale khurd Village Roha
Slide 31: Social Upliftment
Social Upliftment Women empowerment, education and health in our communities Women Empowerment Millets Cakes Training, VRTI Training Nauvari Training , VRTI Hall, Roha Flower making training, VRTI Hall Roha Support to business stall, Bhat Hall, Roha Taluka, Raigad Taluka, Raigad Taluka, Raigad Hall,
Slide 32: Historical Financial Performance
Historical Financial Performance Our track record across the cycle Excel Industries Limited — Investor Presentation Q2 & H1 FY27 31
Slide 33: Historical Performance
Historical Performance Five-year revenue, profit and margin trends (Standalone) TOTAL REVENUE (Rs in Crs) EBITDA (Rs in Crs) PAT (Rs in Crs) (Standalone ) 230 160 1,178 1,090 1,094 978 826 127 121 78 84 110 73 24 15 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 REVENUE M
Slide 34: Historical Performance
Historical Performance Returns recovering, with a net-cash balance sheet throughout (Standalon Return on Capital Return on Equity e) Employed 34% 23% 14% 14% 10% 12% 10% 8% 3% 2% 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 WORKING CAPITAL Net Debt / Equity ANALYSIS# - - - - - 0.0 0.0 0.1 0.1 0
Slide 35: Consistent shareholder returns
Consistent shareholder returns ₹163 Cr dividends over 10 years; market cap at 14% CAGR • Rs. 163 crores returned to shareholders in the form of dividend in the last 10 years • 14% CAGR growth in market cap in last 10 years 36.1 28.3 17.3 17.3 15.7 14.1 14.1 7.5 6.9 5.7 FY17 FY18 FY19 FY20 FY21 FY22
Slide 36: Annexure
Annexure Leadership, board and recognition Excel Industries Limited — Investor Presentation Q2 & H1 FY27 35
Slide 37: Executive Leadership Team
Executive Leadership Team Experienced, promoter-led leadership team Mr. Ashwin C. Shroff Mr. Ravi A. Shroff Executive Chairman Managing Director • He has been part of the Company since 1965 and his • He is a third generation industrialist who is qualified leadership continues to inspire the entire g
Slide 38: Eminent Board
Eminent Board Independent directors with deep industry and governance expertise Mr. Ninad D. Gupte Mr. Vihang Virkar Mr. Rajesh Varma Mr. Ninad D. Gupte is a Bachelor of Science from Bombay Mr. Vihang Virkar holds a degree in Bachelor of Legal Studies Mr. Rajesh Varma holds a Bachelor of Commerce (B
Slide 39: Awards & Accolades (1/4)
Awards & Accolades (1/4) Decades of recognition for innovation, safety and sustainability Jamnalal Bajaj fair ENCON, Govt of India PC Ray award for Award for Energy Efficiency Indigenous Technology business Practices Award 1992 2004 1965 ICC Lifetime Achievement JSW Earth Care Award to ICC Product S
Slide 40: Awards & Accolades (2/4)
Awards & Accolades (2/4) Recognition for safety and environmental excellence Shrestha Suraksha Puraskar in Chemical Manufacturing Sector for the year 2021 Certificate for Longest Accident Free period from National Safety Council of India & Lowest Frequency Rate Certificate of Appreciation from Natio
Slide 41: Awards & Accolades (3/4)
Awards & Accolades (3/4) Recent recognition for sustainability and leadership FICCI Chemicals and Petrochemicals Awards 2022 : ICC Certificate of Merit. PMFAI-SML Annual Agchem Awards 2025: 2025: “Best Green Process” Award in Chemical Category : Management of Health Company of the Year, Ancillary &
Slide 42: Awards & Accolades (4/4)
Awards & Accolades (4/4) Recognition for process design and engineering excellence ICC – Alkyl Amines, Prof. M.M. Sharma Award for Excellence in Process Design & Engineering. Excel has been honoured with, one of the most prestigious recognitions in the chemical industry : Prof. M.M. Sharma Award for
Slide 43: Building Industry-Ready Talent
Building Industry-Ready Talent Partnering with IIT Bombay to build industry-ready engineers Industrial Bootcamp – Bridging Academia and Industry • Providing IIT Chemical Engineering students with hands-on exposure to real-world industrial operations. • Successfully conducted across FY25 and FY26, tr
Slide 44: Thank You
Thank You Company Investor Relations Advisors Excel Industries Limited Cygnus Partners Private Limited CIN: L24200MH1960PLC011807 Ms. Pooja Swami Mr. Devendra Dosi, Chief Financial Officer +91 98602 02359 [email protected] [email protected] www.excelind.co.in Excel Industries Li
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