Everest Industries Limited has submitted a regulatory disclosure under SEBI Listing Regulations Regulation 30 regarding the withdrawal of a capital expenditure plan by its wholly owned subsidiary, Everest Steel Building Private Limited (ESBPL).
The disclosure references previous intimations dated February 21, 2023 and April 1, 2026 regarding ESBPL's Board approval for a CAPEX of Rs. 125 Crores to set up a new manufacturing facility for Pre Engineered Steel Buildings (PEB) at Andhra Pradesh. As part of this plan, ESBPL had invested Rs. 2.91 crores towards land acquisition at Ananthpuram, Andhra Pradesh from Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC).
At its meeting held on July 3, 2026, the Board of Directors of ESBPL re-assessed the feasibility of the CAPEX investment plan and decided to withdraw the entire CAPEX of Rs. 125 Crores. The decision includes surrendering the allocated land back to APIIC.
The company explicitly states that this decision "will not adversely impact the financials" of the organization. The disclosure serves as formal intimation to the stock exchanges regarding this corporate action.