Everest Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Building Products: 75.2% • Steel Buildings: 24.8%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Company is almost debt free
- Latest quarter profit grew 1410.8% YoY, showing strong momentum
- Working capital cycle has improved - days down from 40 to 25
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Company is loss-making at the operating / net level
- Recent results are weak - TTM profit is down 98.9% versus prior year
- Company has a low return on equity of -3.8% over last 3 years
- Company has a low return on capital employed of -0.9%
- Interest coverage is weak at -4.1x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.80x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 11050.00 | 38.13 | 325620.48 | 2.17 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 399.00 | 22.65 | 99144.21 | 0.50 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 23175.00 | 51.30 | 83617.13 | 0.65 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4992.75 | 40.80 | 38578.11 | 0.40 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1699.45 | 34.16 | 31875.90 | 0.53 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1262.80 | 12.42 | 23713.78 | 0.59 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 870.95 | 31.91 | 20579.88 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 121.60 | 21.80 | 16578.52 | 0.41 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 339.80 | 31.44 | 12136.17 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 354.00 | 118.61 | 10970.36 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 195.00 | 21.32 | 7881.52 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| EVERESTIND | 432.55 | 1648.66 | 685.84 | 0.23 | 102.09 | 6144.22 | 435.88 | -12.95 | -11.75 | 10.13 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 484 | 317 | 355 | 433 | 521 | 374 | 367 | 445 | 487 | 289 | 269 | 310 | 419 | |
| 464 | 317 | 346 | 418 | 493 | 375 | 371 | 432 | 470 | 297 | 288 | 335 | 387 | |
| Operating Profit | 21 | 0 | 8 | 15 | 28 | -1 | -4 | 12 | 17 | -8 | -19 | -25 | 32 |
| OPM % | 4.24% | 0.01% | 2.39% | 3.52% | 5.46% | -0.24% | -1.04% | 2.76% | 3.47% | -2.75% | -6.96% | -8.02% | 7.65% |
| 12 | 7 | 5 | 4 | 11 | 4 | 3 | 17 | 6 | 4 | -9 | -21 | -86 | |
| Interest | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 6 | 4 | 5 | 5 | 7 | 4 |
| Depreciation | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 11 | 8 | 8 | 8 | 10 | 8 |
| Profit before Tax | 22 | -3 | 3 | 6 | 26 | -11 | -15 | 13 | 10 | -17 | -41 | -63 | 128 |
| Tax % | 20.67% | -5.44% | 42.38% | -26.63% | 27.46% | 21.39% | 22.53% | -16.84% | 28.63% | 30.35% | 21.85% | -0.60% | 16.08% |
| Net Profit | 18 | -4 | 2 | 8 | 19 | -8 | -12 | 16 | 7 | -12 | -32 | -64 | 108 |
| 11.32 | -2.33 | 0.99 | 5.18 | 12.05 | -5.37 | -7.49 | 9.91 | 4.51 | -7.61 | -20.01 | -40.07 | 67.94 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,147 | 1,245 | 1,404 | 1,284 | 1,213 | 1,361 | 1,645 | 1,589 | 1,707 | 1,354 | 1,286 | |
| 1,105 | 1,153 | 1,298 | 1,241 | 1,100 | 1,292 | 1,577 | 1,544 | 1,671 | 1,389 | 1,306 | |
| Operating Profit | 42 | 92 | 107 | 42 | 113 | 69 | 69 | 44 | 36 | -35 | -19 |
| OPM % | 3.70% | 7.35% | 7.59% | 3.30% | 9.33% | 5.08% | 4.17% | 2.79% | 2.11% | -2.56% | -1.51% |
| 9 | 6 | 6 | 9 | 9 | 29 | 40 | 29 | 35 | -20 | -112 | |
| Interest | 21 | 13 | 8 | 7 | 4 | 3 | 31 | 13 | 21 | 22 | 21 |
| Depreciation | 25 | 24 | 21 | 24 | 25 | 29 | 34 | 32 | 37 | 34 | 34 |
| Profit before Tax | 5 | 61 | 85 | 21 | 93 | 67 | 44 | 28 | 14 | -111 | 7 |
| Tax % | 24.98% | 17.07% | 24.38% | 34.87% | 37.97% | 33.71% | 1.10% | 15.12% | -6.06% | 9.80% | 94.39% |
| Net Profit | 4 | 51 | 64 | 14 | 58 | 44 | 43 | 24 | 14 | -100 | 0 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 36.83 | 28.20 | 27.43 | 15.12 | 9.07 | -63.18 | — |
| Dividend Payout % | 38.65% | 20.04% | 18.27% | 11.39% | 20.36% | 21.32% | 21.86% | 16.54% | 27.56% | -1.58% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- 2%
- 3 Years:
- -6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 5%
- 5 Years:
- -1%
- 3 Years:
- -29%
- 1 Year:
- -37%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 1%
- 3 Years:
- -4%
- Last Year:
- -18%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| 323 | 380 | 432 | 430 | 490 | 526 | 565 | 584 | 597 | 499 | |
| 198 | 84 | 90 | 76 | 4 | 48 | 109 | 45 | 155 | 107 | |
| Trade Payables | 161 | 150 | 181 | 146 | 164 | 169 | 165 | 170 | 161 | 162 |
| 262 | 291 | 321 | 317 | 369 | 432 | 407 | 409 | 367 | 409 | |
| Total Liabilities | 960 | 920 | 1,040 | 985 | 1,042 | 1,191 | 1,261 | 1,223 | 1,296 | 1,192 |
| 344 | 341 | 337 | 359 | 355 | 398 | 388 | 368 | 407 | 392 | |
| Capital Work in Progress | 5 | 21 | 26 | 21 | 13 | 15 | 12 | 4 | 9 | 10 |
| 18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 10 | |
| 235 | 248 | 329 | 311 | 255 | 333 | 508 | 385 | 418 | 318 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 99 | 159 | 111 | |
| Cash & Bank | 11 | 20 | 18 | 3 | 133 | 164 | 14 | 44 | 6 | 43 |
| 348 | 292 | 330 | 292 | 286 | 281 | 339 | 323 | 287 | 308 | |
| Total Assets | 960 | 920 | 1,040 | 985 | 1,042 | 1,191 | 1,261 | 1,223 | 1,296 | 1,192 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 66 | 151 | 30 | 60 | 227 | 52 | -153 | 196 | -70 | 110 | |
| Cash from Investing | -11 | -19 | -22 | -26 | -140 | 36 | 40 | -81 | -8 | -10 |
| Cash from Financing | -86 | -123 | -16 | -46 | -79 | -18 | 42 | -84 | 38 | -61 |
| -38 | 9 | -1 | -16 | 45 | 49 | -84 | 31 | -39 | 38 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Pursuant to SEBI circular no. HO/38/13/11(2)2026-MIRSD-POD/ I/3750/2026 dated January 30, 2026, please find enclosed the copies of the advertisement published in newspapers viz. Financial Express (All Editions) and Deshdoot (Nashik Edition) on September 1, 2026 regarding Special Window for re-lodgement of transfer requests and dematerialisation of physical shares.
2026-09-01 - Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we would like to inform the exchanges that the Company has received show cause notice (DRC 01) from the Deputy Commissioner of State Tax, CT & GST Circle, Balasore, Odisha, under Section 74 of the CGST Act, 2017 & OGST Act, 2017 on August 31, 2026 at 11:50 a.m. (IST).
2026-08-27 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 and further to our intimation dated August 21, 2026, we would like to inform the exchanges that the Goods & Service Tax Department, Maharashtra (Commissioner of State Tax) have concluded their inspection/ search proceedings on August 26, 2026.The details as required under Listing Regulations read with aforesaid SEBI Master Circular is enclosed herewith as an Annexure-A .
2026-08-21 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ), we inform you that inspection/search proceeding was initiated at the Company s Corporate Office in Mumbai and manufacturing unit situated in the State of Maharashtra on Thursday, August 20, 2026 under Section 67 of the Maharashtra Goods and Services Tax Act, 2017. The Company officials were shown a letter for authorization for inspection/search by the Maharashtra State GST officials. The inspection/search proceeding is underway and the Company is extending full co-operation and assistance to the Maharashtra State GST officials.At present, there is no material impact on the financials, business operations or any other activities of the Company due to the aforesaid inspection/search proceedings.
2026-08-04 - Everest Industries Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-04 - In compliance with the provisions of Regulation 44(3), other applicable provisions of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, Section 108 read withRules made thereunder and other applicable provisions of the Companies Act, 2013, wehereby submit the following documents regarding the 93rd Annual General Meeting (AGM)of the members of Everest Industries Limited ( the Company ) held on Monday, August 3,2026 at 3:30 p.m. (IST) through Video Conferencing (VC) / Other Audio Visual Means(OAVM):a) Disclosure of Voting Results pursuant to Regulation 44 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015;b) Consolidated Report of Ms. Jigyasa N. Ved, Partner of Parikh & Associates, PractisingCompany Secretaries (Scrutinizer) dated August 4, 2026 on remote e-voting ande-voting at the AGM.All the resolutions included in the notice of 93rd AGM of the Company were passed with therequisite majority.
2026-08-04 - Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we would like to inform the exchanges that the Company has received show cause notice (DRC 01) from the Assistant Commissioner of State Tax, CT & GST Circle, Balasore, Odisha, under Section 73(1) of the CGST Act, 2017 & OGST Act, 2017 on August 3, 2026 at 11:42 a.m. (IST).The details as required under Listing Regulations read with aforesaid SEBI Master Circular is enclosed herewith as an Annexure-A .
2026-08-03 - This is to inform you that the 93rd Annual General Meeting ( AGM ) of Everest IndustriesLimited ( the Company ) was held today i.e. August 3, 2026 at 3:30 p.m. (IST) through VideoConferencing/Other Audio Visual Means.Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulation, 2015, we enclose herewith, the summary ofproceedings of the AGM.
2026-07-27 - Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we would like to inform the exchanges that the Board at its meeting held today i.e. on July 27, 2026, has, inter-alia, considered and approved the Voluntary Winding-up of Everest Building Products, a wholly owned subsidiary of the Company in Mauritius under the applicable laws of Mauritius.Further, please note that Everest Building Products is not a material subsidiary of the Company and the voluntary winding-up of this subsidiary will not affect the revenue, business or profitability of the Company.The requisite details in terms of the Listing Regulations and aforesaid circular are attached in Annexure A .
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