Date: July 27, 2026
Board Meeting Outcomes
- The Board of Directors at its meeting held on July 27, 2026, approved the proposal for voluntary winding-up of Everest Building Products, a wholly owned subsidiary of the Company in Mauritius
- The winding-up is subject to completion of all regulatory requirements under applicable laws of Mauritius
Disinvestment / Strategic Actions
- Entity involved: Everest Building Products (EBP), Mauritius
- Nature of entity: Wholly owned subsidiary
- Action: Voluntary winding-up
- Strategic rationale: To simplify the group structure
- Resulting impact: The subsidiary is not material to the company. The winding-up will not affect the revenue, business or profitability of the Company
Financial Impact Assessment
As per Audited Financial Statements of Everest Building Products as on March 31, 2026:
- Revenue: Nil
- Revenue percentage contribution to listed entity: 0%
- Net worth: (5.16) lakhs
- Net worth percentage contribution to listed entity: 0.01%
Implementation Timeline
- The date of closure of Everest Building Products, Mauritius, will be intimated in due course
- The process is subject to completion of all regulatory requirements in Mauritius