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Excel Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1960 - The company was started on 5th September, as a private limited
company and became Public Ltd company in 1965. The Company
manufacture basic industrial chemicals, pesticides, fumigants,
etc.

1968 - 12,500 Bonus Equity shares issued in the prop. 1:2.

1970 - 7,500 Bonus shares issued in prop. 1:5. Shares then subdivided.
In March 1971, 5,00,000 shares issued at par: 34,500 shares
reserved for working directors and staff and 4,65,500 shares
offered to the public.

1975 - Plants at the Roha Works were commissioned in June. 7,60,000
Bonus shares issued in prop. 4:5.

1976 - The pilot plant for the manufacture of endosulfan was
commissioned. A plant was put up for the manufacture of
aluminium chloride.

1977 - 8,55,000 Bonus shares issued in prop. 1:2.

1978 - The Company concluded two more agreements for supply of technical
know-how and engineering services for the manufacture of
malathion with FICOM Organics, Ltd., and Khatau Jhunker, Ltd.

1983 - 20,52,000 Bonus shares issued in prop. 4:5.

1985 - A plant was installed to manufacture glyphosate, a weedicide.

1986 - The butene-diol plant with 600 TPA capacity was commissioned with
an inbuilt facility for generation of acetylene gas.

- It was proposed to set up a 16,000 TPA plant for the recovery of
high-alumina refractory grade cement from the Company's
phosphorous operations.

1989 - Upexcel, Ltd., was formed as a joint sector company with
Pradeshiya Industrial & Investment Corporation of U.P. for the
manufacture of phosphorous and its derivatives.

1990 - The Company issued 4,00,000-14% secured non-convertible
debentures of Rs 100 each on private placement basis aggregating
to Rs 4,000 crores to UTI (Rs 2.00 crores), LIC (Rs 1 crore) and
GIC and its subsidiary (Rs 1 crore). These were to be redeemed
at a premium of 5% on the expiry of 7 years from the date of
allotment i.e. on 25th May 1996.

1991 - The Project financing proposal was approved by financial
institutions.

- West Coast Oxygen, Ltd. and Kamaljyot Investments, Ltd., are
wholly owned subsidiaries of the Company. During the year, the
Company has incorporated a wholly owned subsidiary under the name
'Excel Industries (Australia) Pty Ltd., in Australia.

- The Company issued 6,00,000-18% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis to financial institutions. These are redeemable in three
equal annual instalments commencing on the expiry of 6 years from
the date of allotment i.e. from 27th March, 1998 at a premium of
Rs 5 per debenture payable on the expiry of the 7th year from the
date of allotment.

- During the year, the Company issued 2,00,000-14% secured
redeemable non-convertible debentures of Rs 100 each on private
placement basis with UTI. These are redeemable in three equal
annual instalments commencing on the expiry of 6 years from the
date of allotment from 26th September, 1997 at a premium of Rs 5
per debenture payable on the expiry of 7th year from the date of
allotment of debentures.

1992 - The company issued 4,00,000-18% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis with UTI. These are redeemable in three equal annual
instalments commencing on the expiry of 6 years from the date of
allotment from i.e. from 26th March 1999.

- 23,08,500 Bonus shares issued in prop. 1:2.

1993 - Facility for manufacture of 600 TPA of acetyl chloride was
commissioned. In addition steps were taken to expand the
capacity of water treatment chemicals at its Lote unit and to
provide captive production of phosphorous trichloride for the
same.

- During April, the Company offered 3,50,000 No. of equity shares
of Rs 10 each at a premium of Rs 52.50 per share to its
permanent employees' (as on 1st July, 1992), of the company both
in appreciation of their services and as a part of their Golden
Jubilee Celebration.

- 3,44,920 shares issued on preferential basis to employees.

1994 - The Company entered into new business like micro-irrigation
systems, seeds, biofertilizers etc. through a combination of
marketing and manufacturing efforts. The Company also started
offering technology in tackling the ever-mounting menace of waste
in cities and town.

- The Capacity of the plant to produce Butene Diol was expanded.
The Company also undertook to further modernise its major plants
to improve the operational performance.

1995 - The Company commissioned a windfarm project at Rajasthan with an
installed capacity of 2.7 MW.

- 36,35,210 bonus equity shares issued in prop. 1:2.

1996 - The Company had carried out expansion of production capacity of
yellow phosphorous at Bhavnagar unit and Glyphosate at Roha unit.

1997 - The Company has commissioned a new pesticide formulation unit at
Silvassa in the Union Territory of Dadra & Nagar Haveli to
manufacture Glycel 41% SL and exports to add facilities in future
to manufacture other formulations.

- Excel Industries is setting up a joint venture (JV) with Netafim
of Israel to manufacture irrigation equipment in India.

- Excel Industries (EIL) is a leader in industrial and speciality
chemicals, agro-chemicals and bio-fertilisers, and holds a
major market share in endosulfan and glyphosate pesticides.
The company has developed expertise in organic soil enrichers,
drip irrigation system and pest control products.

- The Credit Rating Information Services of India Limited
(Crisil) has rated Rs.400 million non-convertible debenture of
Excel Industries Limited as 'AA-' indicating high safety with
regard to timely payment of interest and principal.

1998 - ISRAEL'S Netafim, a US$ 200m turnover micro irrigation company,
has entered into a joint venture with Excel Industries Limited,
the Mumbai-based manufacturer and exporter of agri-chemicals,
and Jalbindu Agritech Pvt Ltd, an Umargaon-based manufacturer
of drip irrigation systems.

- Excel Industries, pioneers in recycling wastes into fertilisers,
plan to expand business worldwide particularly in Asia and the
Pacific region.

- Excel has commissioned a pilot plant for herbal extraction at
its production site at Lote Parashuram.

- Excel Industries is one of the major domestic players in the
pesticide industry and is also one of the leading exporters of
technicals and formulations.

- Excel is also the first company in Asia, and third in the world,
to make endosulfan technical, and first in Asia to make butene
diol - a major intermediate of endosulphan. It is second in the
world to develop glyphosate technical. The company remains a
domestic leader in terms of capacities, marketing and
distribution network, and has good brands in its portfolio.

1999 - The company is the largest domestic manufacturer of endosulfan,
a broad spectrum pesticide, used predominantly in cotton crop,
but also finds use in oil seeds, pulses and plantations.

- Excel Industries has entered into a co-marketing arrangement
with Danish multinational Cheminova for its glyphosate-based
formulation, a systemic weedicide.

2000

-Subsidiary launched seeds business last year, had to shell out Rs 2.25 crore this year as compensation to the cotton farmers of Warangal district in Andhra Pradesh.

2001

-Credit Rating and Information Services of India Ltd (Crisil) has downgraded its rating assigned to the fixed deposit programme of Excel Industries Ltd to 'FAA-' from 'FAA

-Embarked on a restructuring drive by spinning off its agri-business into a separate company.

-Board approves in-principle, a proposal to restructure the business of the Company by spinning off its Agri Business Division into a separate Company under a Scheme of Demerger

2002

-A major fire broke out in one of the two main buildings of the corporate and registered office of the Company on March 22, 2002.The fire resulted in extensive damage to and destruction of building, office equipments, furniture and fittings, EDP & IT Systems including hardware and data storage devices, communication systems and records.

-Board Approves the scheme of amalgamation of Waman Industrial Chemicals Ltd (WICL), wholly owned subsidiary with the company.

-Mr. Kishore V Mariwala has resigned from the BoD w.e.f. June 27, 2002.

-Mr M K Vadgama has resigned from the Board of Directors of the Company.

-Mr A N Poddar, Director of the Company has expired on December 05, 2002.

2003

-Board Approves a Scheme of Demerger of the Undertaking relating to the Agri Business of the Company and to transfer and vest the same as a going concern, to and in Excel Corp Care Ltd (ECCL), subject to all requisite approvals.

-Hon'ble High Court of Judicature at Bombay sanctioned the scheme of arrangement for demerger of the undertaking relating to Agri Business of the Company and its transfer to and vesting in Excel Crop Care Ltd.

- Mr Dipesh K Shah has resigned as Joint Managing Director of the company wef August 30, 2003.

-Mr. S R Potdar, President (Chemicals Division) has been appointed Executive Director of the Company with effect from 3rd September, 2003. Mr. Dipesh K Shroff has also been appointed as non-executive Director of the Company on 3rd September, 2003.

-Signed a memorandum of understanding to sell its land at Amboli. The sale is for Rs 1.75 crore

2007

-Excel Industries Ltd has has appointed Mr. D Devednder Singh as an Additional Director of the Company.

2008

- Excel Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 24, 2008, has appointed Mr. Nilesh Bhaskar Sathe as an Additional Director of the Company.

- Excel Industries Limited has appointed Mr. Nilesh Bhaskar Sathe as an Additional Director of the Company.