Everest Industries Withdraws CAPEX Plan for Andhra Pradesh Manufacturing Facility
Everest Steel Building Private Limited (ESBPL), a wholly owned subsidiary of Everest Industries Limited, has decided to withdraw its capital expenditure plan for a proposed manufacturing facility in Andhra Pradesh. The decision follows a re-assessment of the feasibility of the project based on business considerations.The withdrawal pertains to the planned setup of a new manufacturing facility for Pre Engineered Steel Buildings (PEB) at R. Ananthpuram, Andhra Pradesh. Originally, ESBPL had targeted a CAPEX of Rs. 125 Crores for the establishment of this facility.
Prior to the decision to withdraw, ESBPL had invested Rs. 2.91 crores towards securing land at Ananthpuram from the Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC).
Following the re-assessment conducted by the Board of Directors of ESBPL in its meeting held on July 3, 2026, the company has decided to withdraw the CAPEX investment. This decision includes the surrender of the allocated land back to APIIC.
The management stated that this withdrawal will not adversely impact the financials of Everest Industries Limited.
EVERESTIND Stock Price Movement
Shares of Everest Industries Limited slipped by 1.70% on Friday, settling at ₹491.70 after shedding ₹8.55 from the previous close. The equity traded a total of 29,546 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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