November 5, 2026
NSE Symbol: EKC
Nature of Disclosure: Regulatory intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding Memorandum of Understanding (MoU) executed by subsidiary company.
Key Development:
EKC Egypt SAE, a subsidiary of Everest Kanto Cylinder Limited, has entered into a Memorandum of Understanding (MoU) with Natural Gas Vehicles Company (CARGAS), described as one of the pioneering companies in the Egyptian petroleum sector in the field of Compressed Natural Gas (CNG).
Purpose and Scope:
The MoU establishes a consortium between the parties to study and develop opportunities for implementing a project to manufacture CNG transportation units (MEGCs) for the delivery of CNG through Virtual Pipeline System to consumers in:
- Egyptian domestic markets
- Middle East markets
- African markets
MoU Details:
- Nature: One-year framework MoU for strategic cooperation, renewable mutually for one or more additional periods
- Roles: Joint working team comprising specialized personnel from both parties will be established to prepare necessary technical, economic, financial, and legal studies to agree on assumptions underlying the project technical and financial model
- Scope: Manufacturing CNG transportation units, trailers intended to carry such units, and assembling them with applicable international requirements, codes, and standards
Financial Considerations:
- No fixed monetary value has been specified under the MoU
- No consideration paid or received at the MoU stage
- Commercial consideration, if any, will be determined in definitive agreements and/or purchase orders
Ownership and Transaction Details:
- The MoU does not involve acquisition of shares, securities, ownership interest, or exchange of equity between the parties
- The Strategic Partner is not related to the promoter, promoter group or group companies of the Company based on information presently available
- Not a related party transaction
Commercial Status:
- No order or purchase order has been received merely by execution of the MoU
- There is no committed quantity, assured revenue, or guaranteed business at this stage
Regulatory Requirements:
- Each party is responsible for obtaining and maintaining approvals applicable to its own scope
- EKC Egypt will obtain required statutory approvals before commencing any activity
Expected Impact:
The MoU may enable EKC Egypt to enhance the sale and its presence in the new geography. The financial impact cannot be determined at this stage and will depend on outcomes of the study and subsequent binding commercial arrangements.
Additional Terms:
The MoU contains clauses relating to confidentiality, intellectual property protection, technical study and cost associated with it, termination, and dispute-resolution provisions.
Regulatory Compliance:
Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 as amended.
Filing Details:
Filed by Vishal Totla, Company Secretary and Compliance Officer, digitally signed on November 5, 2026 at 17:56:51 +05:30.