short answer, yes.
Long answer, yes but it's difficult. If it's an older excel file, like pre version 5, then MS used a BIFF (binary information file format) that was fairly easy to read, and there are some programs around for doing that. Iused to generate reports using that format, since I could make files that were competely compatible but at least 1 fifth the size.
However, Excel 5 brough in multiple work sheets, and things got very complicated, there are separate file streams within the xls/xlw and the BIFF was significantly modified. There are native libraries around [IE, doesn't require Excel dll for automation], but you'd need to buy the source.
Look on Torry [http://www.torry.net/quicksearchd.php?String=excel&Title=Yes] or DelphiSuperPage for stuff.
With the latest XML format, you should be fine, but there will be precious few files in this format!
ATB
DSP