Message from the CEO

Dear Shareholders,

Torn by the pandemic and disrupted by the uncertainties since Mar 2020, the past year was truly a challenging time. Quarterly planning too was uncertain as it was difficult to anticipate the magnitude of pandemic’s impact on the business operations when we started the financial year 2020-21. However, thanks to the resilience & responsiveness of the employees of Excel Industries Limited and their families, the Company was able to manage the pandemic year with minimal impact. The manufacturing plants started after a brief interruption in Apr 2020 and subsequently operated as mandated by the local authorities. Employee care and well-being were the primary considerations when plants resumed operations. Thanks to the sales force & teams at all manufacturing locations, operations returned to normalcy. Activities that were planned were also implemented by the teams. Despite travel restrictions, Vizag site and its employees integrated well with the Company. Vizag plant also saw increased business activity during the year, despite the pandemic.

Implementing all these activities under trying circumstances was also a learning for all of us. It made us think & work differently, with several of us discovering our true potential and capabilities, thereby proving the adage – when the going gets tough, the tough gets going! With a renewed sense of vigour and action, the teams were able to deliver a satisfying performance in an otherwise challenging year.

The Company too supported those in need. Whether working from home or supporting COVID-19 recovery, or encouraging employees to get vaccinated, Excel was conscious and eager to promote a COVID-19 free environment as a pre-requisite for healthy workplace. The Company also ensured timely salary payments to its employees without any cut during this period, in order to keep up their spirit.


As we look forward to the next financial year, one thing is certain – Uncertainty! It is important that we anticipate and adapt ourselves more to a rapidly changing & evolving scenarios and get on with our future plans.

Realising these will require employees acquiring relevant skills & competencies while Company assimilates new talent. All these points to an exciting start to a wonderful transformation.

On the manufacturing front, Roha Site obtained Environmental Clearance for expansion. This was to support expansion and future growth initiatives of the Company. The newly acquired Visakhapatnam Site could get all regulatory approvals re-issued in Excel’s name, thereby completing the transfer process. Lote Site started to put an expansion plan in place, aiming to increase their share of contribution to Company’s performance. All the three manufacturing locations worked on improving their operating efficiencies further, with a sharp focus on enhancing capacity utilization and external customer delivery orientation.

As the year progressed, the teams had started to learn to adapt and to live with the pandemic & uncertainty. Several of our normal routine were back in place, while ensuring our self-protection against COVID-19 infection.

Research and Development

Product Development built on in-house Research had always been Excel’s forte. Developing innovative processes and technologies and building scale in select products were the basis of innovation culture in the Company.

The Company wishes to strengthen these qualities further and use them in a structured manner to drive future business growth. The existing R&D team is being strengthened further. With the appointment of new Corporate R&D Head and with the proposed modern R&D Lab in Mumbai, we are working to build a platform that will become a fountainhead for business in the medium term. Implementing these strategies in the years ahead, we are confident to make a transformational impact around us.

On behalf of TEAM EXCEL, I would like to thank our employees, service providers, vendors, customers and all stakeholders in their unstinted support during this challenging year.

Best Wishes
N. R. Kannan,

Chief Executive Officer

Message from the Executive Director

Excel Bioturn