Everest Industries Shareholders Approve Hemant Khurana as New MD & CEO

1 min read     Updated on 20 Sept 2025, 06:48 PM
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Reviewed by
Suketu GalaScanX News Team
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Overview

Everest Industries Limited shareholders approved the appointment of Hemant Khurana as Managing Director and CEO for a three-year term starting September 13, 2025. The resolution passed with 99.99% votes in favor at the 92nd Annual General Meeting. Other key resolutions included adoption of financial statements, dividend declaration, and board appointments. The AGM saw strong shareholder support across all resolutions.

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*this image is generated using AI for illustrative purposes only.

Everest Industries Limited , a prominent player in the building solutions sector, has received shareholder approval for the appointment of Hemant Khurana as its new Managing Director and Chief Executive Officer. The decision was ratified at the company's 92nd Annual General Meeting (AGM) held on September 18, 2025.

Key Highlights

  • Appointment Details: Hemant Khurana (DIN: 08652827) has been appointed for a three-year term, effective from September 13, 2025, to September 12, 2028.
  • Shareholder Approval: The resolution for Khurana's appointment received overwhelming support, with 99.99% of votes cast in favor.
  • AGM Participation: The AGM saw participation from 68 shareholders, including one from the promoter and promoter group, through video conferencing.

Other AGM Resolutions

The 92nd AGM also saw the passage of several other significant resolutions:

  1. Financial Statements: Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025.
  2. Dividend Declaration: Approval of a final dividend for the financial year 2024-25.
  3. Board Appointment: Ms. Padmini Sekhsaria (DIN: 00046486) was appointed as a Director liable to retire by rotation.
  4. Chairman's Commission: Approval for payment of commission to Mr. Anant Talaulicar, Non-Executive Independent Chairman, for the financial year 2025-26.
  5. Auditor Appointments: Ratification of Cost Auditors' remuneration and appointment of M/s. Parikh & Associates as Secretarial Auditors for a five-year term.
  6. ESOP Amendments: Modifications to the Employee's Stock Option Scheme - 2021 were approved.

Voting Highlights

The AGM resolutions were passed with strong shareholder support:

Resolution Votes in Favor (%) Votes Against (%)
Appointment of Hemant Khurana as MD & CEO 99.99 0.00
Adoption of Financial Statements 99.99 0.00
Declaration of Final Dividend 100.00 0.00
Appointment of Padmini Sekhsaria 99.99 0.00
Commission to Anant Talaulicar 99.43 0.57

Everest Industries Limited, with its corporate identity number L74999MH1934PLC002093, continues to strengthen its leadership team with these strategic appointments and corporate actions. The strong shareholder support for these resolutions indicates confidence in the company's governance and future direction under the new leadership.

Historical Stock Returns for Everest Industries

1 Day5 Days1 Month6 Months1 Year5 Years
+4.60%+5.09%+6.82%+58.81%-29.28%+249.54%
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Everest Industries to Sell 23.32 Acres in Podanur for ₹133.86 Crore

1 min read     Updated on 29 Aug 2025, 11:00 AM
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Reviewed by
Ashish ThakurScanX News Team
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Overview

Everest Industries Limited has received approval to sell 23.32 acres of land in Podanur to G Square Realtors for ₹133.86 crore. An initial payment of ₹7.00 crore has been received, with the sale deed expected to be completed within four months. This strategic move could provide Everest Industries with additional liquidity for various corporate purposes.

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*this image is generated using AI for illustrative purposes only.

Everest Industries Limited , a prominent player in the building solutions and steel buildings sector, has secured approval for a significant land sale transaction. The company is set to divest 23.32 acres of land located in Podanur to G Square Realtors for a total consideration of ₹133.86 crore.

Transaction Details

Item Detail
Land Area 23.32 acres
Buyer G Square Realtors
Total Sale Value ₹133.86 crore
Initial Payment Received ₹7.00 crore

Timeline and Next Steps

Everest Industries has already received an initial payment of ₹7.00 crore from G Square Realtors, marking the first step in this substantial real estate transaction. The sale deed for this property is expected to be completed within the next four months, finalizing the transfer of ownership.

Implications for Everest Industries

This land sale represents a strategic move for Everest Industries, potentially allowing the company to unlock value from its real estate assets. The substantial sum of ₹133.86 crore could provide the company with additional liquidity, which may be used for various purposes such as debt reduction, capital expenditure, or strengthening its core business operations.

Market Response

Investors and market analysts will likely be watching closely to see how Everest Industries utilizes the proceeds from this land sale. The transaction's impact on the company's financial position and future strategic initiatives will be of particular interest to stakeholders.

As the sale process progresses over the coming months, more details may emerge regarding the company's plans for the funds and any potential impact on its overall business strategy.

Everest Industries Limited continues to demonstrate active management of its assets, with this land sale approval marking a significant development in its recent corporate activities.

Historical Stock Returns for Everest Industries

1 Day5 Days1 Month6 Months1 Year5 Years
+4.60%+5.09%+6.82%+58.81%-29.28%+249.54%
Everest Industries
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