Everest Industries Limited reported a consolidated net loss of ₹10,168.70 lakh for the financial year ended March 31, 2026, significantly widening from the net loss of ₹360.41 lakh in the previous year. The company's revenue from operations for FY26 stood at ₹1,41,699.84 lakh, a decline from ₹1,72,281.72 lakh in FY25. The performance was weighed down by exceptional items, segment-level stress, and a notable contraction in quarterly revenue.

The Board of Directors, at its meeting held on May 26, 2026, approved the audited standalone and consolidated financial results. The statutory auditors, M/s. S R B C & Co., LLP, issued an unmodified opinion on the financial results. The Board recommended a final dividend of ₹1.00 per equity share of face value ₹10 each for FY26, subject to shareholder approval.

Financial Performance

The company's financial performance for the year was impacted by exceptional items. An impairment loss of ₹2,870.00 lakh was recognised related to its subsidiary Everest Buildpro Pvt Ltd, comprising ₹1,500.88 lakh on equity shares and ₹1,369.12 lakh on inter-corporate deposits. Additionally, the company recognised an additional charge of ₹1,634.14 lakh pertaining to gratuity due to the implementation of new Labour Codes. The Steel Buildings segment reported a loss before tax and finance costs of ₹5,521.69 lakh for the year, while the Building Products segment reported a profit of ₹5,799.06 lakh.

Consolidated Results Summary

The following table presents the full-year consolidated financial performance:

Quarterly Performance

For the quarter ended March 31, 2026, Everest Industries reported a sharp deterioration in performance on a year-on-year basis. The net loss widened significantly while revenue contracted substantially compared to the same period in the prior year.

Segment Performance

Revenue from the Building Products segment for FY26 was ₹1,08,150.08 lakh, while the Steel Buildings segment contributed ₹33,549.76 lakh. Total consolidated assets as of March 31, 2026, stood at ₹1,21,055.02 lakh, compared to ₹1,31,169.54 lakh in the previous year. The company's cash and cash equivalents increased to ₹4,470.52 lakh as of March 31, 2026, from ₹991.11 lakh a year ago.

Everest Industries has appointed Mr. Sunder Nilakantan as its Internal Auditor and Chief Risk Officer effective May 26, 2026. The appointment, approved by the Board of Directors following recommendations from the Audit Committee and Risk Management Committee, is for a term of three years. This leadership change strengthens the company's internal audit and risk management functions as it continues to focus on corporate governance and operational controls.

With this appointment, Mr. Niranjan Gokhale has ceased to hold the additional role and position of Internal Auditor and Chief Risk Officer effective May 26, 2026. Mr. Gokhale will continue to hold the position of Head – Strategy. He had been entrusted with the additional responsibilities of Internal Auditor and Chief Risk Officer starting April 8, 2026, until the new appointment.

Mr. Sunder Nilakantan is a Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor of Commerce degree from the University of Bombay. He brings over 35 years of experience in Internal Audit, Finance, Accounts, Treasury, Credit Control, and Corporate Governance across leading Indian and multinational organizations.

Prior to joining Everest Industries, Mr. Sunder was associated with Larsen & Toubro Ltd as Head – Shared Services Center (SSC). His previous roles include senior leadership positions at Crompton Greaves, Ion Exchange India, Shaw Wallace, and Aventis CropScience, where he built expertise in internal audit, finance, treasury management, compliance, SAP implementation, and corporate controls.

Appointment Details