Everest Industries Ltd approves capex of Rs. 125 crores

The Board of Directors of Everest Industries Ltd at their meeting held on February 20, 2023, has approved CAPEX of Rs. 125 Crores to set up a new manufacturing facility for ESBS through a wholly owned subsidiary or by the Company at Gudipalli, Andhra Pradesh or any other appropriate location in South India, subject to the receipt of requisite approvals.

The said CAPEX would enhance the existing capacity of 72,000 MTPA to 114,000 MTPA for ESBS Division. It is expected that said CAPEX would be operational by March 31, 2024.

The CAPEX would be funded by a mix of internal accruals and debt.

Shares of Everest Industries Limited was last trading in BSE at Rs. 753.30 as compared to the previous close of Rs. 760.95. The total number of shares traded during the day was 2362 in over 130 trades.

The stock hit an intraday high of Rs. 765.35 and intraday low of 741.05. The net turnover during the day was Rs. 1775225.00.

Source : Equity Bulls

Keywords

EverestIndustries INE295A01018 Capex Expansion ManufacturingFacility ESBS Gudipalli AndhraPradesh SouthIndia