Investor Presentation

Excel Industries has released its financial results for the quarter and half-year ending September 30, 2025. **Business Performance:** Q2 FY26 revenue was ₹270 Cr (+0.5% YoY), but PAT dipped to ₹19 Cr (-45.3% YoY). H1 FY26 saw revenue at ₹580 Cr (+8.6% YoY) and PAT at ₹52 Cr (-20.4% YoY). Performance was impacted by a prolonged monsoon affecting agro demand and weak off-take in key products. **Growth Drivers:** The company is focused on product portfolio diversification, maintaining market share, and reducing reliance on the agrochemical sector. **Recent Developments:** A new biocide capacity became operational in Oct-25. A 5-year contract manufacturing deal for a specialty chemical, valued at ₹35-40 Cr annually, was secured, strengthening its contract manufacturing presence. **Management Outlook:** Management views the new contract as a key step in diversifying its market base and strengthening its contract manufacturing footprint, aligning with its goal to lessen agrochemical dependence.