Everest Industries Limited has announced a significant update regarding its expansion plans, informing stakeholders about the deferment of a key manufacturing facility setup. The company has communicated this development to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Deferment Details

The Steel Building manufacturing facility, originally planned for establishment in the current timeline, has been postponed to Financial Year 2026-27. This facility was intended to be set up by the company's wholly owned subsidiary, Everest Steel Building Private Limited, marking an important expansion in the company's Steel Building Division.

Re-evaluation Process

The project is currently undergoing a comprehensive re-evaluation process. Everest Industries Limited is actively engaged in discussions with Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC) regarding the facility setup. These discussions are crucial for determining the revised parameters and implementation strategy for the manufacturing facility.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both major stock exchanges about this development. The intimation was sent to the National Stock Exchange of India Limited and BSE Limited on April 1, 2026. This update follows a previous communication dated March 21, 2025, on the same subject, demonstrating the company's commitment to keeping stakeholders informed about material developments.

Corporate Governance

The disclosure was signed by Amruta Avasare, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols were followed. The company has requested stock exchanges to take this information on record, maintaining transparency with regulatory authorities and investors regarding the project timeline adjustment.

Everest Industries Limited has invested ₹14.99 crore in its wholly owned subsidiary Everest Buildpro Private Limited (EBPL) through the acquisition of partly paid-up equity shares. The transaction was completed on March 25, 2026, as part of the subsidiary's rights issue.

Investment Details

The investment involved the acquisition of 154,150 partly paid-up equity shares at ₹973 per share on application. The shares carry a face value of ₹10 each with a premium of ₹8,289 per equity share, though the company paid ₹973 per share initially, comprising a face value of ₹5 and premium of ₹968 per share.

About Everest Buildpro Private Limited

Everest Buildpro Private Limited was incorporated on March 31, 2023, and operates in the manufacturing industry with a focus on boards and panels production. The subsidiary has demonstrated significant growth in its business operations since inception.

The subsidiary's turnover increased substantially from ₹19.77 lakh in FY 2023-24 to ₹15.68 crore in FY 2024-25, reflecting strong business growth and operational expansion.

Transaction Structure and Compliance

The investment falls under related party transactions as EBPL is a wholly owned subsidiary of Everest Industries Limited. The transaction has been conducted at arm's length and complies with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Purpose and Impact

The investment is intended for business requirements and general corporate purposes of the subsidiary. Since Everest Industries Limited maintains 100% ownership both before and after the transaction, there is no change in the shareholding pattern of EBPL. The company has confirmed that promoter/promoter group/group companies have no interest in EBPL except for the shares held by the company itself.

The rights issue was originally structured for 154,165 partly paid-up equity shares aggregating to ₹1,27,94,15,335 at an issue price of ₹8,299 per equity share, with Everest Industries Limited acquiring 154,150 shares as part of this offering.