Excel Industries

What Excel Industries does

Excel Industries Limited is a publicly listed Indian chemical manufacturing company founded in 1941 in Mumbai by C.C. Shroff. The company operates two business divisions: a Chemical Division producing phosphorus-based specialty intermediates (PCl5, PCl3, PSCl3, P2S5), agrochemical intermediates, polymer additives (THPE, DMBPC, PEEB), industrial biocides, and cGMP-compliant pharmaceutical and veterinary APIs; and an Environ-Biotech Division providing decentralized waste management solutions built around a patented Organic Waste Converter (OWC) system with over 1,000 installations across India, complemented by biological inputs (Bioculum), odor control products (Sanitreat), and supporting consumer brands (Herbocel, Richcel, Excel Orcomin).

The company runs three manufacturing sites at Roha, Lote Parshuram, and Vizag (APSEZ), holds WHO GMP, Responsible Care, EcoVadis Bronze, and ISO 9001/14001/45001 certifications, and operates DSIR-approved R&D facilities with 30+ scientific staff. Its core technology is rooted in phosphorus chemistry and bio-mechanical composting rather than digital or AI platforms.

The business model combines enterprise field sales for chemical intermediates and large OWC contracts with municipal and corporate buyers (Indian Oil, TCS, Infosys, ITC Hotels), contract manufacturing services with reaction volumes up to 2 million liters, channel partner networks for mid-market OWC distribution, and direct-to-consumer e-commerce via Amazon, Flipkart, and Organic Life for consumer waste management products. FY2025-26 revenue of Rs 1,094.52 crore (approximately USD 130 million) reflects an 11.91% year-on-year increase, though net profit declined 11.30% indicating margin pressure.

Name

Excel Industries

Legal name

Excel Industries Limited

Website

https://excelind.co.in

Company type

Public

Founded year

1941

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Excel Industries Limited is a publicly listed Indian specialty chemicals manufacturer producing phosphorus-based intermediates, polymer additives, biocides, and pharmaceutical APIs across three plants, plus a patented Organic Waste Converter system for decentralized waste management.

Ownership category

akta.pro rank

Product category

Specialty Chemicals Manufacturing

NAICS

Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing (325194), Pesticide and Other Agricultural Chemical Manufacturing (32532)

SIC

Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800), Agricultural Chemicals (2870)

akta.pro industry

PRIMARYIMAEAAAI

Commodity Surfactants & Detergent Base Chemicals

Industrials, Manufacturing & Construction/Chemicals & Industrial Materials/Basic & Commodity Chemicals

SECONDARYIMAEADAK

Plasticizers & Solvents (Phthalates/Alternatives, Commodity Solvents)

Industrials, Manufacturing & Construction/Chemicals & Industrial Materials/Petrochemicals & Derivatives

Keywords

• Specialty chemicals manufacturing
• Agrochemical intermediates
• Polymer additives
• Pharmaceutical APIs
• Organic waste management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Chemical Products Manufacturing: Manufacturing and sale of specialty chemicals including agrochemical intermediates, pharmaceutical intermediates, polymer additives, and specialty chemicals. Revenue from long-term relationships with both domestic and international clients. Products include phosphorus-based compounds, pharmaceutical APIs, and polymer modifiers.
2. OWC Systems and Waste Management Solutions: Sale of Organic Waste Converter machines, curing systems, and accessories. Also includes waste management plants (centralized 100-500 tpd capacity) and EPC services for municipalities and large institutions.
3. Consumer Products (Bioculum, Sanitreat, etc.): Direct-to-consumer sales through e-commerce marketplaces (Amazon, Flipkart, Organic Life) of bioculture products, odour control solutions, and compost products like Richcel.
4. Pharmaceutical and Veterinary APIs: cGMP compliant manufacturing of pharmaceutical APIs and veterinary APIs for healthcare industry. Long-term relationship focus with consistent quality by sourcing inputs in-house.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

Excel Industries manufactures phosphorus-based specialty chemicals through its Chemical Division, including agrochemical intermediates (PCl5, PCl3, PSCl3, DETC, P2S5), polymer additives (THPE, DMBPC, PEEB), industrial biocides, and cGMP-compliant pharmaceutical and veterinary APIs. Through its Environ-Biotech Division, the company sells the patented OWC (Organic Waste Converter) system and related biological products (Bioculum, Sanitreat, Richcel) for decentralized organic waste management and composting.

Product overview

Excel Industries operates two primary divisions: a Chemical Division and an Environ-Biotech (ENBT) Division. The Chemical Division manufactures specialty products including agrochemical intermediates (phosphorus-based pesticides), polymer additives (THPE, DMBPC, PEEB), biocides (BIOCEL products), specialty intermediates (PCl5, PCl3, PSCl3), and pharmaceutical APIs (Febuxostat, Sitagliptin, Vidagliptin, Teneligliptin, Butaphosphan). The ENBT Division provides decentralized waste management solutions centered around the patented OWC (Organic Waste Converter) system, which converts organic waste into compost within 10-15 days. Supporting products include Bioculum (biological inoculant), Sanitreat (odour control), Herbocel (floor cleaner), Richcel (compost), and Excel Orcomin (compact converter). The agrochemical sub-brands include SoilXcel (biochar soil conditioner), Epicel (biostimulant), Celjal (water conditioner), Xscalent (drip cleaner), and Varshacel (irrigation water treatment). The company operates three manufacturing sites: Roha, Lote, and Vizag, with contract manufacturing services for product innovators.

Differentiator

Problem solved

Functional benefit

Brands

• OWC System: Organic Waste Converter - patented decentralized waste management system
• Bioneer
• Sanitreat
• Bioculum
• Excel Orcomin
• Herbocel
• Richcel
• Excel Veterinary Healthcare
• BIOCEL
• SoilXcel
• Epicel
• Celjal
• Xscalent
• Varshacel

Products and services

• Agrochemical Intermediates

Quantifiable outcome

• Over 1000 OWC systems successfully installed and operated
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• NGO PartnerscoreStrategic or Co-development PartnerNGOs have partnered with Excel to create employment opportunities for disadvantaged groups as OWC operators, segregators and maintenance technicians. Excel invites NGOs and agencies to promote Decentralized Waste Management as sustainable alternative systems and economic opportunity.
• Government of MauritiusflagshipStrategic or Co-development PartnerExecuted end-to-end 300 tpd centralized waste treatment plant in partnership with Government of Mauritius. The plant has significantly cut waste going to landfill and helped protect ecological and environmental beauty of Mauritius.
• MUFG Intime India Private LimitedcoreOthersRegistrar and Transfer Agent for shares and fixed deposit related queries. Located at C-101, 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai 400 083.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Tata Chemicals: Much larger Indian chemicals conglomerate with broad specialty and basic chemicals exposure including soda ash, silica, and agro-nutrients. Provides a scaled incumbent benchmark for Excel's specialty chemicals play but operates a far wider portfolio without Excel's niche phosphorus intermediates focus.
• UPL Limited: Global Indian agrochemical major and the largest crop-protection player in India. While Excel exited finished crop-protection via the Sumitomo sale of Excel Crop Care, UPL sets the competitive bar for the intermediates and biostimulant adjacencies Excel still serves.
• Privi Speciality Chemicals: Indian specialty chemicals manufacturer of aroma chemicals and intermediates. Comparable mid-sized Indian specialty chemicals model with similar export-driven, multi-site manufacturing footprint and global customer base.
• Galaxy Surfactants: Indian specialty surfactants and performance chemicals manufacturer. Comparable on the detergent and personal-care value chain where Excel supplies organophosphonates, although Galaxy focuses more on finished surfactants and has a larger international footprint.

Direct peers

• Aarti Industries: Large Indian specialty chemicals manufacturer with overlapping polymer additives, agrochemical intermediates, and pharma intermediates portfolios. Most directly comparable on polymer additives (THPE / anti-scratch / catalyst components) and phosphorus-based intermediates, and competes for similar downstream polymer majors and agrochemical customers.
• Atul Limited: Indian diversified specialty chemicals company with parallel exposure to agrochemical intermediates, polymer intermediates, and aroma/pharma chemicals. Comparable on multi-vertical specialty chemicals business model and customer overlap with global polymer and agro players.
• PI Industries: Indian agrochemical intermediates and CSM (custom synthesis) manufacturer with deep relationships with global agro majors. Directly overlaps with Excel's agro intermediates (PCl5/PCl3/PSCl3/DETC) customer base and serves the same crop-protection value chain.
• Anshul Specialty Molecules: Indian specialty intermediates manufacturer with leadership overlap (Shroff family connection via Excel MD Ravi Shroff's prior role). Competes in similar specialty molecules and agrochemical intermediate niches.
• Transpek Industry Limited: Indian specialty chemicals producer focused on phosphorus-based chemistry, acid chlorides and other intermediates. Highly comparable on phosphorus chemistry competency, multi-site Indian manufacturing, and supply to global specialty chemical customers. Excel's Executive Chairman Ashwin Shroff serves on Transpek's board, further signaling direct comparability.

Emerging players

• Clean Science & Technology: Indian specialty chemicals player with focus on performance chemicals, antioxidants, and intermediates. While narrower in product breadth, it competes for similar global polymer and specialty customers and represents the next-generation Indian specialty chemicals operator that Excel is benchmarked against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/excel-industries-ltd.
• Xx.com/ExcelIndLtd

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Excel Industries