Excel Industries Limited has informed the Exchange regarding Change in Director(s) of the company.
EXCELINDUS · price
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Excel Industries has informed the exchanges that Mr. Dinesh Bhagat, a Nominee Director representing Life Insurance Corporation of India (LIC), has resigned from the board with effect from the close of business on 23rd March 2026. The resignation is on account of the natural end of his term as LIC's nominee, not due to any dispute or governance issue. After this change, the board continues with 8 directors: Executive Chairman Ashwin C Shroff, Managing Director Ravi A Shroff, Executive Director Hrishit A Shroff, and five Non-Executive Independent Directors. The Shroff family continues to lead the company through executive roles, and the independent director count remains well above SEBI requirements.
This is a routine, non-disruptive board change with no impact on operations, strategy, or financials. LIC will likely nominate a replacement in due course, and shareholders should not read this as a negative signal for the stock.