Everest Industries Ltd
Setting Up Of New Manufacturing Facility For Steel Buildings Division (ESBS) In South India.
03:01 PM, 21st Feb 2023
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (Listing Regulations) we wish to inform that the Board of Directors of the Company 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 appropriatelocation in South India subject to the receipt of requisite approvals.The said CAPEX would enhance the existing capacity of 72000 MTPA to 114000 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.