Excel Industries subsidiaries divest Mobitrash Recycle Ventures stake

Excel Industries Limited announced that its wholly-owned subsidiaries, Kamaljyot Investments Limited and Excel Bio Resources Limited, have divested their entire shareholding of 1999 shares each (19.99%) in Mobitrash Recycle Ventures Private Limited (MRVPL). This divestment was made to Ashwin C. Shroff, a promoter of Excel Industries Limited. Each subsidiary received ₹19,990 from Mr. Shroff for the transaction.

As a result of this divestment, MRVPL ceases to be an Associate Company of Excel Industries Limited, effective November 21, 2025. The transaction, classified as a related party transaction, was conducted at arm's length.

For the financial year ended March 31, 2025, MRVPL contributed ₹418.41 lacs (0.43%) to the total revenue and had a net worth of (₹143.90) lacs (-0.09%) relative to Excel Industries Limited. The agreement for sale was entered into and is expected to be completed on November 21, 2025.