Everest Industries Limited has submitted a regulatory disclosure under Regulation 30 of SEBI LODR regarding the withdrawal of a capital expenditure plan by its wholly owned subsidiary, Everest Buildpro Private Limited (EBPL).
The disclosure references a previous intimation dated February 25, 2025, where EBPL's Board of Directors had granted in-principle approval for a CAPEX of ₹138 crores. This investment was intended for setting up a new Fibre Cement Boards plant at Matia, Goalpara, Assam.
As part of this approved CAPEX, EBPL invested ₹10.90 crores towards land acquisition at the specified location. The land was allocated to EBPL by the Assam Industrial Development Corporation Limited (AIDC).
The Board of Directors of EBPL held a meeting on July 3, 2026, where they re-assessed the feasibility of the CAPEX investment plan. Based on business considerations, the Board decided to withdraw the entire ₹138 crore CAPEX plan. This decision includes the surrender of the land allocated to EBPL by AIDC.
The company explicitly states that this withdrawal decision "will not have adverse impact on the financials" of the organization.
The disclosure is signed by Amruta Nihar Avasare, Company Secretary & Compliance Officer (Membership No.: A18844) of Everest Industries Limited, and was digitally signed on July 3, 2026, at 21:13:55 +05:30.