Everest Industries Withdraws CAPEX Plan for Fibre Cement Boards Plant in Assam
Everest Industries Limited has announced the withdrawal of its capital expenditure plan for a proposed Fibre Cement Boards plant in Matia, Goalpara, Assam. The decision follows a board reassessment regarding the feasibility of the investment project.The company's wholly-owned subsidiary, Everest Buildpro Private Limited (EBPL), had previously outlined plans for the CAPEX project. As part of this commitment, EBPL had invested Rs. 10.90 crores towards securing land at the specified location from the Assam Industrial Development Corporation Limited (AIDC).
The original proposal was communicated on February 25, 2025, detailing a planned CAPEX amounting to Rs. 138 crores for establishing the new Fibre Cement Boards plant in Matia.
In view of current business considerations, the Board of Directors of EBPL decided during a meeting held on July 3, 2026, to withdraw the said CAPEX investment plan. This withdrawal includes the surrender of the land allocated to EBPL by AIDC.
Key financial and operational details regarding the project are summarized below:
| Metric | Detail |
|---|---|
| Subsidiary | Everest Buildpro Private Limited (EBPL) |
| Project Location | Matia, Goalpara, Assam |
| Original Planned CAPEX | Rs. 138 crores |
| Land Investment Cost | Rs. 10.90 crores |
The company stated that the withdrawal of the project and the surrender of the land will not have an adverse impact on the financials of Everest Industries Limited.
EVERESTIND Stock Price Movement
On Friday, Everest Industries Limited shares slipped by 1.70% to close at ₹491.70 after shedding ₹8.55 from the previous day’s close. The stock saw a trading volume 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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