🔍

EVERESTIND - Everest Inds.

📊 NSE: EVERESTIND 🏢 Cement Products 📅 Last Updated: 12/13/2025 22:00

📢 Recent Corporate Announcements

Everest Industries Completes Phase I Land Sale for ₹100.83 Crore

🟢 POSITIVE ⭐ 7/10

OTHER 📅 12 Apr 2026, 12:23 PM

Everest Industries has successfully concluded the Phase I sale of 16.84 acres of vacant, excess land in Podanur, Coimbatore. The company received a total of ₹100.83 crore for this phase, which includes a final tranche of ₹85.83 crore received on April 10, 2026. This transaction is part of a larger agreement to sell 23.32 acres for a total consideration of ₹133.86 crore. The remaining 6.48 acres are expected to be transferred by November 4, 2026, providing further liquidity from non-core assets.

Completed sale of 16.84 acres of vacant land in Coimbatore to G Square Properties.
Total consideration received for Phase I amounts to ₹100.83 crore.
Total deal value for the entire 23.32-acre land parcel is fixed at ₹133.86 crore.
Phase II involving the remaining 6.48 acres is scheduled for completion by November 4, 2026.
The sale involves non-core, vacant land and does not impact existing operations or revenue units.

💡 Investors should view this as a positive liquidity event that strengthens the company's balance sheet. Monitor the company's upcoming quarterly results for details on how these proceeds will be utilized, specifically for debt reduction or growth capital.

Everest Industries Withdraws ICRA Credit Rating for ₹440 Cr Bank Facilities; Outlook was Negative

🔵 WATCH ⭐ 6/10

OTHER 📅 11 Apr 2026, 03:28 PM

Everest Industries has voluntarily withdrawn its credit ratings from ICRA for bank facilities totaling ₹440 crore, while continuing to maintain ratings with CRISIL. Prior to withdrawal, ICRA had assigned a 'Negative' outlook to the long-term ratings, reflecting financial stress. The company's financial health has deteriorated, reporting a consolidated net loss of ₹54.5 crore in 9MFY2026 compared to a profit of ₹18 crore in FY2024. Operating margins have also turned negative at -1.1% for the 9-month period ending December 2025.

Voluntary withdrawal of ICRA ratings for ₹440 crore total bank facilities, including ₹130 crore in cash credit.
Long-term rating prior to withdrawal was [ICRA]A with a 'Negative' outlook, indicating potential credit risk.
Consolidated net loss reached ₹54.5 crore in 9MFY2026 on an operating income of ₹1,089.8 crore.
Operating profit margin (OPBDIT/OI) declined from 2.6% in FY2024 to -1.1% in 9MFY2026.
Total Debt/OPBDIT ratio significantly worsened to 8.9x in FY2025 from 2.3x in FY2024.

💡 Investors should be cautious as the 'Negative' outlook and recent losses suggest operational challenges; monitor the company's ability to stabilize margins and manage its debt levels.

Everest Industries Files Q4 FY26 Compliance Certificate Under SEBI Regulation 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Apr 2026, 05:34 PM

Everest Industries Limited has submitted its quarterly compliance certificate for the period ending March 31, 2026, as required by SEBI (Depositories and Participants) Regulations. The company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, confirmed that all securities received for dematerialization were processed within the mandated 15-day timeframe. The process included the verification, mutilation, and cancellation of physical certificates, with the depository's name updated in the records. This is a standard administrative filing ensuring the integrity of the company's shareholding records.

Compliance certificate issued for the quarter ended March 31, 2026.
Registrar confirms dematerialization requests were processed within 15 days of receipt.
Physical share certificates were verified, mutilated, and cancelled as per SEBI norms.
The filing was submitted to both NSE and BSE on April 8, 2026.

💡 No action is required as this is a routine regulatory filing with no impact on company fundamentals. Investors should focus on upcoming financial results for material performance updates.

Everest Industries Defers Andhra Pradesh Steel Building Plant to FY 2026-27

🔴 NEGATIVE ⭐ 7/10

EXPANSION 📅 01 Apr 2026, 05:19 PM

Everest Industries has announced a delay in the establishment of its manufacturing facility for the Steel Building Division in R. Ananthpuram, Andhra Pradesh. The project, which is being executed through its wholly-owned subsidiary Everest Steel Building Private Limited, is now deferred to Financial Year 2026-27. The company stated that the project is currently being re-evaluated and is under discussion with the Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC). This deferment suggests a delay in the company's planned capacity expansion and potential revenue growth from this segment.

Manufacturing facility for Steel Building Division in Andhra Pradesh deferred to FY 2026-27.
Project is being implemented by wholly-owned subsidiary Everest Steel Building Private Limited.
The company is re-evaluating the project and holding discussions with APIIDC.
The delay follows a previous project update provided on March 21, 2025.

💡 Investors should monitor for further updates regarding the re-evaluation of the project and its impact on long-term growth guidance. The delay may result in a slower-than-expected ramp-up in the Steel Building segment's capacity.

Everest Industries Invests ₹15 Crore in Subsidiary Everest Buildpro via Rights Issue

🟡 NEUTRAL ⭐ 6/10

EXPANSION 📅 27 Mar 2026, 06:15 PM

Everest Industries has infused approximately ₹15 crore into its wholly-owned subsidiary, Everest Buildpro Private Limited (EBPL), by subscribing to 154,150 partly paid-up equity shares. The shares were issued at a total price of ₹8,299 per share, with ₹973 per share paid on application. EBPL, which operates in the boards and panels manufacturing segment, has shown rapid growth with turnover increasing from ₹19.77 lakh in FY24 to ₹15.68 crore in FY25. This investment is aimed at supporting the subsidiary's business requirements and general corporate purposes.

Allotment of 154,150 partly paid-up equity shares at a premium of ₹8,289 per share
Initial investment of ₹14.99 crore paid at ₹973 per share (including ₹968 premium)
Subsidiary turnover grew significantly to ₹15.68 crore in FY 2024-25 from ₹19.77 lakh in FY 2023-24
Everest Industries continues to hold 100% equity in Everest Buildpro Private Limited
Total rights issue size for the subsidiary is valued at approximately ₹127.94 crore

💡 Investors should track the scaling of the Boards & Panels business under EBPL, as the parent company is increasing its capital commitment to this segment. No immediate action is required as this is an internal capital allocation to a 100% owned subsidiary.

Everest Industries Appoints Niranjan Gokhale as Internal Auditor and Chief Risk Officer

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 26 Mar 2026, 07:31 PM

Everest Industries has appointed Mr. Niranjan Gokhale, currently the Head of Strategy, as the Internal Auditor and Chief Risk Officer effective April 8, 2026. This move follows the resignation of the previous officer on April 7, 2026, and is designed to ensure continuity in the company's risk management and internal control functions. Mr. Gokhale has over 30 years of multi-functional experience and has been with the company for 6 years. The company has clarified that it is still in the process of identifying a permanent candidate for these roles.

Mr. Niranjan Gokhale appointed as Internal Auditor and CRO effective April 8, 2026
Appointment follows the resignation of the previous officer effective April 7, 2026
Mr. Gokhale brings over 30 years of experience across industries including 6 years at Everest Industries
The company is currently identifying a permanent replacement for these critical oversight positions

💡 This is a routine management transition to maintain internal control continuity; no immediate action is required. Investors should watch for the eventual appointment of a permanent Internal Auditor and CRO.

Everest Industries Appoints Price Waterhouse as Statutory Auditors for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 26 Mar 2026, 07:11 PM

Everest Industries Limited has recommended the appointment of M/s. Price Waterhouse Chartered Accountants LLP as its new statutory auditors. This appointment follows the completion of the second term of the current auditors, M/s. S R B C & Co. LLP, at the upcoming 93rd Annual General Meeting. The new auditors will serve a five-year term from the 93rd AGM until the conclusion of the 98th AGM. This change is a routine compliance measure mandated by the auditor rotation provisions of the Companies Act, 2013.

M/s. Price Waterhouse Chartered Accountants LLP appointed for a first term of 5 consecutive years.
Outgoing auditors M/s. S R B C & Co. LLP are completing their mandatory second term at the 93rd AGM.
Price Waterhouse is a major firm with over 125 Assurance Partners as of December 31, 2025.
The appointment is subject to shareholder approval at the ensuing 93rd Annual General Meeting.

💡 This is a routine regulatory rotation of auditors as per Indian law. No action is required from investors as the company continues to engage a top-tier accounting firm.

Everest Industries Appoints Niranjan Gokhale as Internal Auditor & CRO Following Resignation

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 18 Mar 2026, 04:08 PM

Everest Industries has announced the resignation of Mr. Graciano Pinto from the positions of Internal Auditor and Chief Risk Officer, effective April 7, 2026. To ensure a smooth transition, the company has appointed Mr. Niranjan Gokhale, the current Head of Strategy, to take over these roles starting April 8, 2026. Mr. Gokhale is a seasoned professional with over 30 years of global experience and has been with Everest Industries for the past 6 years. The internal appointment suggests a focus on continuity in risk management and internal control systems.

Mr. Graciano Pinto to step down as Internal Auditor and Chief Risk Officer on April 7, 2026.
Mr. Niranjan Gokhale appointed as successor effective April 8, 2026, to handle additional responsibilities.
New appointee Niranjan Gokhale brings over 30 years of experience in strategy, finance, and risk management.
The transition was approved and recommended by the Audit Committee on March 18, 2026.
Mr. Gokhale has been part of the company's senior management for 6 years, ensuring internal stability.

💡 This is a routine management transition with a well-qualified internal successor. No immediate action is required as the company has ensured continuity in its risk and audit functions.

Everest Industries Appoints Aasheesh Saxena as VP & Business Head - Roofing

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 11 Mar 2026, 07:02 PM

Everest Industries has appointed Mr. Aasheesh Saxena as Vice President and Business Head for its Roofing division, effective March 11, 2026. Mr. Saxena is a seasoned professional with over 20 years of experience in the building materials and consumer products sectors, having previously worked with industry leaders like JSW Paints, Havells India, and Asian Paints. His appointment to the senior management team is aimed at driving profitable growth and scaling sales operations in the company's core roofing segment. This strategic hire brings specialized expertise in project sales and institutional business development.

Mr. Aasheesh Saxena appointed as VP (Business Head – Roofing) effective March 11, 2026
Brings over 20 years of experience in sales, business development, and supply chain management
Previously served as Head of Project & Institutional Sales at JSW Paints Ltd
Past leadership experience at Havells India, Kansai Nerolac, Saint-Gobain, and Asian Paints
Focus will be on driving value-added sales and gaining market share in the roofing vertical

💡 Investors should view this as a positive step in strengthening the leadership of a core business vertical. Monitor the roofing segment's performance over the next 2-3 quarters to see if this leadership change translates into improved market share or margins.

Everest Industries Appoints Lakshmana Rao Challa as Head of Manufacturing & Supply Chain

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 09 Feb 2026, 09:43 PM

Everest Industries has appointed Mr. Lakshmana Rao Challa as the Head of Manufacturing Operations & Supply Chain Management for its Fibre Cement Plants, effective February 9, 2026. Mr. Challa brings over 27 years of extensive experience in the building materials and automotive sectors, having held leadership positions at prominent firms like Saint-Gobain and DCM Shriram Group. His expertise spans greenfield setups, Lean Six Sigma, and operational excellence, which is expected to strengthen the company's production efficiency. This appointment is part of the company's strategy to bolster its senior management team and drive sustainable growth in its core business segments.

Mr. Lakshmana Rao Challa appointed as Head of Manufacturing Operations & Supply Chain for Fibre Cement Plants effective February 9, 2026
Appointee brings over 27 years of experience in building materials and automotive industries
Previously served as a Founding and Executive Committee member and Head of Operations at Saint-Gobain India
Expertise includes managing greenfield and brownfield manufacturing setups and multi-plant operations
Educational background includes Mechanical Engineering and PGDBA in Operations Management with leadership training from XLRI

💡 Investors should view this as a positive step towards improving operational efficiency and supply chain management in the core Fibre Cement segment. Monitor for improvements in manufacturing margins and operational excellence over the next few quarters.

Everest Industries Q3 FY26 Revenue Falls 27% YoY; Net Loss Widens to ₹31.7 Crore

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 06 Feb 2026, 06:20 PM

Everest Industries reported a weak performance for Q3 FY26, with revenue from operations declining 26.8% YoY to ₹268.8 crore. The company's net loss widened significantly to ₹31.7 crore, compared to a loss of ₹11.9 crore in the same period last year. Performance was dragged down by a 44.7% YoY drop in the Steel Buildings segment revenue and a one-time exceptional charge of ₹16.3 crore related to new Labour Code gratuity obligations. Despite the overall downturn, the Building Products segment maintained a profit of ₹9.5 crore.

Revenue from operations decreased to ₹26,883.42 Lakhs from ₹36,743.26 Lakhs in Q3 FY25.
Net loss for the quarter widened to ₹3,172.40 Lakhs against a loss of ₹1,185.67 Lakhs YoY.
Steel Buildings segment revenue saw a sharp decline of 44.7% YoY to ₹7,203.91 Lakhs.
Recognized an exceptional loss of ₹1,329.56 Lakhs, primarily due to a ₹1,634.14 Lakhs charge for Labour Code compliance.
Building Products segment revenue fell 17% YoY to ₹19,679.51 Lakhs.

💡 Investors should exercise caution as the company faces significant revenue contraction and widening losses, particularly in the Steel Buildings division. Monitor the company's ability to stabilize margins and manage the transition to new labor regulations in upcoming quarters.

Everest Industries Appoints Subramaniam Venkatakrishnan as VP for Boards & Panels Business

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 04 Feb 2026, 06:47 PM

Everest Industries has appointed Mr. Subramaniam Venkatakrishnan as Vice President and Business Head for its Boards & Panels division, effective February 4, 2026. He brings over 20 years of specialized experience from Knauf India, where he led solution selling for ceilings and wall paneling. Concurrently, the former head, Mr. Rahul Chopra, has transitioned to a new role as Senior VP of Skill Development, CSR, and Public Advocacy. This leadership refresh in a core business segment suggests a strategic focus on leveraging technical expertise and market development.

Appointment of Mr. Subramaniam Venkatakrishnan as VP (Business Head – Boards & Panels) effective Feb 4, 2026
Mr. Venkatakrishnan brings over 20 years of experience in building materials, including a long tenure at Knauf India
Mr. Rahul Chopra moves from BU Head to Senior VP - Head of Skill Development, CSR, and Public Advocacy
New appointee holds a B.Arch from NIT Trichy and a PG in Construction Management from NICMAR Pune

💡 Investors should view this as a positive step toward strengthening the leadership of a key business vertical. Monitor the Boards & Panels segment's performance in upcoming quarters to see if this leadership change translates into market share gains.

Everest Industries Receives GST Show Cause Notice for Rs 1.33 Crore

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 28 Jan 2026, 03:22 PM

Everest Industries Limited has received a Show Cause Notice (DRC 01) from the GST Department, Jabalpur, for the financial year 2022-23. The total demand amounts to Rs 1.33 crore, which includes a tax demand of Rs 80.96 lakh, interest of Rs 43.72 lakh, and a penalty of Rs 8.10 lakh. The notice pertains to alleged discrepancies in Input Tax Credit (ITC) claims and short payment under the Reverse Charge Mechanism (RCM). The company believes it has strong legal grounds and expects no material impact on its financial or operational activities.

Total demand of Rs 1.33 crore raised by the Deputy Commissioner of State GST, Jabalpur.
The demand includes Rs 80,95,982 in tax, Rs 43,71,829 in interest, and Rs 8,09,598 in penalty.
Discrepancies cited include excess ITC claimed in GSTR 3B vs 2A/2B and short GST paid under RCM.
The notice pertains specifically to the financial year 2022-23.
Management states there is no material impact on the company's operations or financials at this stage.

💡 No immediate action is required as the financial implication is negligible relative to the company's scale. Investors should monitor for any final adjudication orders that might confirm the liability.

Everest Industries Extends Podanur Land Sale Deadline to March 31, 2026

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 25 Jan 2026, 04:32 PM

Everest Industries Limited has announced an extension for the execution of the sale deed for its land located at Podanur. The transaction, which was previously expected to conclude by January 25, 2026, has now been pushed to March 31, 2026. This delay is attributed to the ongoing process of obtaining necessary government approvals. The extension was mutually agreed upon between the company and the buyer, G Square Realtors Private Limited.

Execution of the sale deed for Podanur land extended to March 31, 2026.
The sale was originally estimated to be completed by January 25, 2026.
Delay is due to pending government approvals required for the transaction.
The agreement remains active with the buyer G Square Realtors Private Limited.

💡 Investors should monitor the company's progress toward the new March deadline as the land sale is part of its asset monetization strategy.

Everest Industries Disinvests 3.12% Stake in Amplus Ampere for Rs 1.76 Crore

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 21 Jan 2026, 03:16 PM

Everest Industries has transferred 1,759,999 equity shares of Amplus Ampere Private Limited to Amplus Energy Solutions PTE Ltd for a total consideration of Rs 1.76 crore. This transaction represents a 3.12% stake in the entity and was executed on January 20, 2026. The move is a procedural requirement to maintain compliance with Group Captive norms for the company's 5.5 MWp solar power arrangement. The buyer is not a related party, and the divestment follows previous share allotments made in 2025.

Transferred 1,759,999 equity shares of Amplus Ampere Private Limited
Total consideration received for the stake sale is Rs 1,75,99,990
Divestment represents a 3.12% equity stake in the solar power entity
Action taken to ensure compliance with Group Captive norms for 5.5 MWp solar power
Transaction completed with Amplus Energy Solutions PTE Ltd, a non-related party

💡 This is a routine regulatory compliance update with minimal financial impact. No specific action is required as it pertains to maintaining power procurement norms.

View All EVERESTIND Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for Q2 FY26 was INR 306.16 Cr, a decline of 18.7% YoY from INR 376.82 Cr. Building Products (BP) segment revenue was INR 230.76 Cr, down 37.8% QoQ. Steel Buildings (PEB) segment revenue was INR 75.40 Cr, down 42% QoQ.

Geographic Revenue Split

Not disclosed in available documents, though the company is expanding its footprint in Eastern India through a new plant in Assam.

Profitability Margins

The company reported a consolidated loss before tax of INR 24.75 Cr in Q2 FY26. Operating margins have faced sustained pressure, with EBITDA margins falling to 0.9% in H1 FY26 compared to earlier expectations of 5-6%. Return on Net Worth was -0.60% in FY24.

EBITDA Margin

EBITDA margin was 0.9% in H1 FY26, significantly lower than the 5-6% target. This was driven by lower processing efficiency in the roofing business and execution of low-margin PEB contracts.

Capital Expenditure

The company announced a total capex of INR 187 Cr for a new Boards and Panels (B&P) plant in Assam, with INR 169 Cr already incurred by the end of FY25. Additionally, INR 138 Cr was specifically allocated for Eastern market expansion.

Credit Rating & Borrowing

Ratings were downgraded to [Crisil] A-/Negative and [ICRA] A (Negative). Debt of INR 95 Cr was availed in FY25 to fund capex. Interest coverage moderated to 2.1x in FY25 from 5.7x in FY24.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Asbestos (for roofing) and Steel (for PEB). Asbestos dependence on Russian suppliers has been a historical risk, now being mitigated through diversification.

Import Sources

Asbestos was primarily sourced from Russia; the company is now adding new suppliers from other regions to de-risk the supply chain.

Key Suppliers

Not specifically named, but the company has transitioned from a heavy reliance on Russian asbestos suppliers to a more diversified vendor base.

Capacity Expansion

B&P capacity was increased by 91,000 MT in FY24. A new plant in Assam is being set up to capture Eastern Indian markets.

Raw Material Costs

Raw material costs for H1 FY26 were INR 441.49 Cr, representing approximately 54.7% of total revenue. Costs have been impacted by rising input prices and inflationary pressures.

Manufacturing Efficiency

ROCE was 1.63% in FY25, down from 12.19% in FY22, indicating a significant drop in capital efficiency due to lower fixed cost absorption in the B&P segment.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

Growth will be driven by the ramp-up of the B&P segment (higher margin urban clientele), the new INR 187 Cr Assam plant for Eastern markets, and a focus on higher-margin PEB orders. The company is also expected to receive INR 134 Cr from a land sale in FY26 to bolster liquidity.

Products & Services

Asbestos Cement (AC) Roofing, Fiber Cement Boards, Panels, and Pre-Engineered Steel Buildings (PEB).

Brand Portfolio

Everest

New Products/Services

Expansion of the Boards and Panels (B&P) portfolio to target urban markets, expected to contribute to a 300-400 bps margin improvement over the medium term.

Market Expansion

Targeting Eastern India through the new Assam plant and increasing the revenue share of the PEB segment, which has grown from 20% to 30% over the last 5 years.

Market Share & Ranking

The company has reported an increased market share over the past two years, though specific ranking is not provided.

🌍 External Factors

Industry Trends

The industry is shifting toward non-asbestos building products (B&P) and pre-engineered steel structures for industrial use. Everest is positioning itself by increasing its PEB revenue share to 30%.

Competitive Landscape

Faces intense competition from regional players in the roofing segment and substitute products like galvanized steel sheets.

Competitive Moat

Moat is built on a strong distribution network and brand recognition in the roofing segment, coupled with early diversification into the high-growth PEB sector.

Macro Economic Sensitivity

High sensitivity to rural spending and GDP growth, as AC roofing demand is derived from rural household construction.

Consumer Behavior

Shift in urban demand toward fiber cement boards and panels for modern construction.

Geopolitical Risks

Exposure to the Russia-Ukraine conflict due to historical dependence on Russian asbestos suppliers, now being mitigated through supply chain de-risking.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to pollution norms and safety standards for asbestos handling. The company is diversifying into non-asbestos products to mitigate regulatory risks.

Taxation Policy Impact

The company received a tax credit of INR 5.25 Cr in Q2 FY26. GST incentives of INR 9.50 Cr were recognized, with INR 7.79 Cr as an exceptional item for prior periods.

⚠️ Risk Analysis

Key Uncertainties

Recovery of operating margins from the current 0.9% to the targeted 5-6% remains the primary uncertainty. Processing inefficiencies in roofing could impact profitability by 4-5%.