Excel Industries - Outcome Of Board Meeting

Excel Industries Ltd has informed that the Board of Directors of the Company at its meeting held on March 27, 2007, has approved a proposal for transferring business of marketing agri input products, such as Soil Enricher, Biopesticides and Plant Growth Promoters to Excel Crop Care Ltd w.e.f. April 01, 2007. The transfer will also include transfer to Excel Crop Care Ltd of the Companys trademarks, trade names, brand names, product registration and licences relating to the concerned products. This business has generated an estimated Sales Turnover of approx. Rs 12 to 13 crores during the Financial Year 2006-07. The consideration for the business shall be equivalent to the book value of current assets consisting of stocks and book debts transferred to Excel Crop Care Ltd and annual royalty equivalent to 5% of the turnover from the said business achieved by Excel Crop Care Ltd for a period of five years.