Excel Industries Limited

NSEI:EXCELINDUS Stock Report

Market Cap: ₹11.4b

Excel Industries Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Ravi Shroff

Chief executive officer

₹49.2m

Total compensation

CEO salary percentage55.86%
CEO tenure11.8yrs
CEO ownership0.4%
Management average tenure5.3yrs
Board average tenure4.5yrs

Recent management updates

Recent updates

Analysis Article • Nov 19

Weak Statutory Earnings May Not Tell The Whole Story For Excel Industries (NSE:EXCELINDUS)

Last week's earnings announcement from Excel Industries Limited ( NSE:EXCELINDUS ) was disappointing to investors, with...
Analysis Article • Apr 18

Subdued Growth No Barrier To Excel Industries Limited (NSE:EXCELINDUS) With Shares Advancing 29%

Those holding Excel Industries Limited ( NSE:EXCELINDUS ) shares would be relieved that the share price has rebounded...
Analysis Article • Feb 15

Excel Industries Limited's (NSE:EXCELINDUS) 26% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio

To the annoyance of some shareholders, Excel Industries Limited ( NSE:EXCELINDUS ) shares are down a considerable 26...
Analysis Article • Feb 15

More Unpleasant Surprises Could Be In Store For Excel Industries Limited's (NSE:EXCELINDUS) Shares After Tumbling 26%

Unfortunately for some shareholders, the Excel Industries Limited ( NSE:EXCELINDUS ) share price has dived 26% in the...
Analysis Article • Nov 20

Additional Considerations Required While Assessing Excel Industries' (NSE:EXCELINDUS) Strong Earnings

Excel Industries Limited ( NSE:EXCELINDUS ) just reported some strong earnings, and the market reacted accordingly with...
Analysis Article • Nov 07

Some Investors May Be Worried About Excel Industries' (NSE:EXCELINDUS) Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Sep 02

Excel Industries (NSE:EXCELINDUS) Will Pay A Smaller Dividend Than Last Year

Excel Industries Limited's ( NSE:EXCELINDUS ) dividend is being reduced from last year's payment covering the same...
Analysis Article • Aug 16

Excel Industries (NSE:EXCELINDUS) Will Pay A Smaller Dividend Than Last Year

Excel Industries Limited's ( NSE:EXCELINDUS ) dividend is being reduced from last year's payment covering the same...
Analysis Article • Aug 10

Optimistic Investors Push Excel Industries Limited (NSE:EXCELINDUS) Shares Up 27% But Growth Is Lacking

Despite an already strong run, Excel Industries Limited ( NSE:EXCELINDUS ) shares have been powering on, with a gain of...
Analysis Article • May 22

Revenues Not Telling The Story For Excel Industries Limited (NSE:EXCELINDUS) After Shares Rise 25%

The Excel Industries Limited ( NSE:EXCELINDUS ) share price has done very well over the last month, posting an...
Analysis Article • Apr 05

Excel Industries Limited's (NSE:EXCELINDUS) Business Is Trailing The Industry But Its Shares Aren't

With a median price-to-sales (or "P/S") ratio of close to 1.5x in the Chemicals industry in India, you could be...
Analysis Article • Mar 14

Calculating The Intrinsic Value Of Excel Industries Limited (NSE:EXCELINDUS)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Excel Industries fair value estimate is ₹800 Current share...
Analysis Article • Apr 05

Excel Industries' (NSE:EXCELINDUS) Returns On Capital Not Reflecting Well On The Business

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Aug 25

We Ran A Stock Scan For Earnings Growth And Excel Industries (NSE:EXCELINDUS) Passed With Ease

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Analysis Article • Jul 15

Excel Industries (NSE:EXCELINDUS) Is Experiencing Growth In Returns On Capital

What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...
Analysis Article • Feb 28

Here's Why Excel Industries (NSE:EXCELINDUS) Can Manage Its Debt Responsibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Feb 07

Excel Industries' (NSE:EXCELINDUS) Returns Have Hit A Wall

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Jun 08

Capital Allocation Trends At Excel Industries (NSE:EXCELINDUS) Aren't Ideal

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Mar 10

The Trends At Excel Industries (NSE:EXCELINDUS) That You Should Know About

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Analysis Article • Feb 05

Is Excel Industries Limited's (NSE:EXCELINDUS) Shareholder Ownership Skewed Towards Insiders?

The big shareholder groups in Excel Industries Limited ( NSE:EXCELINDUS ) have power over the company. Large companies...
Analysis Article • Jan 14

Excel Industries Limited (NSE:EXCELINDUS) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?

It is hard to get excited after looking at Excel Industries' (NSE:EXCELINDUS) recent performance, when its stock has...
Analysis Article • Dec 23

Did You Participate In Any Of Excel Industries' (NSE:EXCELINDUS) Fantastic 271% Return ?

When you buy a stock there is always a possibility that it could drop 100%. But on a lighter note, a good company can...
Analysis Article • Dec 01

Returns On Capital At Excel Industries (NSE:EXCELINDUS) Paint An Interesting Picture

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...
Analysis Article • Oct 17

What Type Of Shareholders Make Up Excel Industries Limited's (NSE:EXCELINDUS) Share Registry?

A look at the shareholders of Excel Industries Limited (NSE:EXCELINDUS) can tell us which group is most powerful...

CEO Compensation Analysis

How has Ravi Shroff's remuneration changed compared to Excel Industries's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

₹757m

Dec 31 2025n/an/a

₹758m

Sep 30 2025n/an/a

₹736m

Jun 30 2025n/an/a

₹881m

Mar 31 2025₹49m₹27m

₹853m

Dec 31 2024n/an/a

₹796m

Sep 30 2024n/an/a

₹761m

Jun 30 2024n/an/a

₹422m

Mar 31 2024₹29m₹26m

₹170m

Dec 31 2023n/an/a

₹125m

Sep 30 2023n/an/a

₹285m

Jun 30 2023n/an/a

₹488m

Mar 31 2023₹41m₹25m

₹799m

Dec 31 2022n/an/a

₹1b

Sep 30 2022n/an/a

₹2b

Jun 30 2022n/an/a

₹2b

Mar 31 2022₹54m₹22m

₹2b

Dec 31 2021n/an/a

₹1b

Sep 30 2021n/an/a

₹848m

Jun 30 2021n/an/a

₹843m

Mar 31 2021₹27m₹12m

₹711m

Dec 31 2020n/an/a

₹635m

Sep 30 2020n/an/a

₹536m

Jun 30 2020n/an/a

₹769m

Mar 31 2020₹24m₹16m

₹961m

Compensation vs Market: Ravi's total compensation ($USD516.32K) is above average for companies of similar size in the Indian market ($USD40.90K).

Compensation vs Earnings: Ravi's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Ravi Shroff (48 yo)

11.8yrs
Tenure
₹49,187,156
Compensation

Mr. Ravi Ashwin Shroff serves as Managing Director of Excel Industries Limited since September 3, 2019. He serves as the Chief Executive Officer at Anshul Speciality Molecules Ltd., Mumbai. Mr. Shroff has...

Leadership Team

NamePositionTenureCompensationOwnership
Ashwin Shroff
Executive Chairman51yrs₹35.55m1.63%
₹ 186.8m
Ravi Shroff
MD & Executive Directorno data₹49.19m0.41%
₹ 46.3m
Pradeep Ghattu
President & COOno data₹11.08mno data
Devendra Dosi
Chief Financial Officer8.4yrs₹10.57mno data
Hrishit Shroff
President of Environmentno data₹38.52m0.41%
₹ 46.3m
Sanjay Sapate
Vice President of Manufacturingno data₹6.91mno data
Siddhart Raut
General Manager of Finance & Accounts2.2yrsno datano data
Surendra Singhvi
VP of CSR16.5yrs₹2.36mno data
Sekar Bharadwaj
Associate Vice President of Human Resources1.3yrsno datano data
B. Balachandran
President of Chemicals Divisionno datano datano data
5.3yrs
Average Tenure
54yo
Average Age

Experienced Management: EXCELINDUS's management team is seasoned and experienced (5.3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Ashwin Shroff
Executive Chairman51yrs₹35.55m1.63%
₹ 186.8m
Ravi Shroff
MD & Executive Director11.8yrs₹49.19m0.41%
₹ 46.3m
Hrishit Shroff
President of Environment7.1yrs₹38.52m0.41%
₹ 46.3m
Ghattu Narayana
Chairman Emeritusno data₹1.33mno data
Shekhar Khanolkar
Independent Director1.9yrs₹980.00kno data
Ninad Gupte
Independent Director1.9yrs₹1.13m0.00095%
₹ 108.6k
Vihang Virkar
Independent Director1.9yrs₹1.18mno data
Rajesh Varma
Independent Director1.9yrs₹1.10mno data
Meena Galliara
Non-Executive Independent Director7.1yrs₹1.21mno data
4.5yrs
Average Tenure
62yo
Average Age

Experienced Board: EXCELINDUS's board of directors are considered experienced (4.5 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/07 11:18
End of Day Share Price 2026/07/07 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Excel Industries Limited is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kameswari V. S. ChavaliFirstCall Research
Naveed MD.FirstCall Research