In a recent development affecting the manufacturing sector, the Supreme Court has rejected a plea for Value Added Tax (VAT) relief on asbestos cement sheets produced using fly ash in Rajasthan. The case, which involves Eveready Industries India Limited , highlights the ongoing challenges faced by manufacturers in the construction materials sector.

Supreme Court Decision

The apex court's ruling denies VAT relief for asbestos cement sheets manufactured with fly ash, a decision that could have significant implications for producers in Rajasthan. This verdict may impact the cost structure and pricing strategies of companies involved in the production of these construction materials.

Implications for Eveready Industries

Eveready Industries India Limited, known primarily for its batteries and flashlights, is involved in this case, suggesting a diversification of its business interests. The company's involvement in the production of asbestos cement sheets using fly ash indicates its presence in the construction materials sector, a fact that may not be widely known to all investors.

Industry Impact

The Supreme Court's decision could have broader implications for the construction materials industry, particularly for companies operating in Rajasthan. Manufacturers may need to reassess their production costs and pricing strategies in light of this ruling, potentially affecting their competitiveness in the market.

Corporate Governance Update

In a separate development, Eveready Industries India Limited has announced a significant change in its leadership. According to a recent corporate filing:

• Mr. Suvamoy Saha [DIN: 00112375] will complete his term as the Managing Director of the Company on September 30, 2025.
• He will cease to be a member of the Board following the completion of his tenure.
• The company has expressed appreciation for Mr. Saha's valuable services, guidance, and support during his tenure.

This change in top management comes at a time when the company is navigating challenges in various sectors of its business, including the recent Supreme Court decision on VAT relief.

Conclusion

The Supreme Court's ruling on VAT relief for asbestos cement sheets manufactured with fly ash in Rajasthan, coupled with the upcoming leadership change at Eveready Industries India Limited, underscores the complex regulatory and corporate landscape in which the company operates. These developments may have implications for the company's strategy and performance in the coming months.

Eveready Industries India Limited , a prominent player in the battery and flashlight industry, has announced a significant change in its top leadership. Suvamoy Saha, the current Managing Director of the company, is set to complete his tenure on September 30, 2025.

Leadership Transition

According to a regulatory filing by Eveready Industries, Suvamoy Saha [DIN: 00112375] will conclude his term as the Managing Director at the close of business hours on September 30, 2025. Following this, he will also cease to be a member of the company's Board of Directors.

Company's Acknowledgment

In its official communication, Eveready Industries expressed its appreciation for Saha's contributions. The company stated, "The Company places on record its appreciation for the valuable services, guidance, and support rendered by Mr. Suvamoy Saha during his tenure with the Company."

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Eveready Industries has duly informed the National Stock Exchange of India Ltd., BSE Limited, and The Calcutta Stock Exchange Limited about this development.

Looking Ahead

While the company has not yet announced a successor, this early notification provides Eveready Industries ample time to plan for a smooth leadership transition. The battery giant will likely keep shareholders and the market informed about its plans for the top management position in the coming months.

Eveready Industries' stock performance and future strategies will be closely watched by investors and industry analysts as the company prepares for this significant change in its executive leadership.