Chemical
Excel commissions dedicated specialty chemicals project for five-year supply contract
Excel Industries committed to setting up a dedicated manufacturing facility with an estimated capital expenditure of approximately Rs. 40 crore
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By ICN Bureau | July 24, 2026
Excel Industries Limited has successfully completed and commissioned its dedicated specialty chemicals production project for supplies under a five-year long-term supply agreement with a leading Indian specialty chemicals company.
The project was completed on July 23, 2026, in line with the timelines agreed with the customer, this marking a key milestone in the company's contract manufacturing growth strategy.
In November 2025, the company had announced the signing of a binding term sheet for the supply of a specialty chemical under a five-year agreement. The contract is expected to generate an annual income of ₹35–40 crore, net of raw material costs.
To execute the contract, Excel Industries committed to setting up a dedicated manufacturing facility with an estimated capital expenditure of approximately Rs. 40 crore. The company had also disclosed that it would receive a customer trade advance of ₹25 crore to support the project.
Commenting on the development, Ravi Ashwin Shroff, Managing Director, said: “We are pleased to announce the successful completion of the project for production for supplies against the long term supply agreement on 23rd July 2026.
"The project has been completed as per the timelines agreed with the customer. This achievement underscores our execution abilities and our commitment towards fulfilling the customer expectations. This achievement will further strengthen our position as a reliable contract manufacturing partner, whilst diversifying our revenue base.
"We are hopeful that this will set the base for more opportunities for the company in the contract manufacturing space."
