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Everest Industries Ltd share price today (on 28 May 2023).
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BSE: 508906 | NSE: EVERESTIND | ISIN: INE295A01018 Market Cap: [Rs.Cr.] 278 | Face Value: [Rs.] 10 Industry: Cement Products
Everest Industries Ltd., formerly known as Eternit Everest commenced business by taking over, as a growing concern, the erstwhile Asbestos Cement (India) at Kymore, Madhya Pradesh. The company manufactures fibre based cement products,such as sheets for roofing and interiors as well as Non Asbestos flat sheets for varied applications including pre-fab housing. The company was the first to manufacture asbestos cement roofing sheets in India at its first factory commissioned in May '34. Its manufacturing business was progressively expanded by establishing a second sheeting factory at Mulund, Bombay, in 1937, a third one at Calcutta in Oct.'38 and a fourth at Podanur (near Coimbatore), Tamilnadu, in Nov.'53.
The company was incorporated in 1934, it belongs to the ACC Group. This fibre cement products company has been a market leader for over six decades in asbestos roofings. It recently diversified into non-asbestos based roofing as well as paneling products . In Sep.'57, a another sheeting plant was installed at the Kymore factory. Plants to manufacture pipes were added between 1938 and 1963. Its "Everest" brand enjoys huge brand equity.Besides roofing,the company has introduced a range of new generation products called E-Board Classic for varied applications in interiors. In 1988-89, Turner & Newall International, UK, sold its stake in the company to Eteroutremer, Belgium, the holding company of the Eternit group, Belgium. It obtained central government approval to shift part of the production capacity of the Mulund works to Nashik and to shift the balance capacity within one year from the date of commissioning of the factory at Nasik. The company is venturing into non-asbestos-based roofing and panelling products.
In addition to the fire-resistant boards being developed with the active assistance of the Etex group, the company has also initiated the introduction of passive fire protection systems with technical support from an Etex group company. It has obtained ISO-9002 and ISO 14001 certification for its Podanur works. The Etex Group, through its subsidiary Nefibouw BV of Netherlands acquired during 2000-2001, 0.54% of equity shares from the open market to take the Group's stake to 50%. In Feb. 2002 Associated Cement Companies, has acquired 74,00,010 equity shares (cositituting 50% of the total equity capital) by Inter se transfer between promoters. Total shareholding of voting rights after this acquisition comes to 1,12,50,030 equity shares (constituting 76.01 % of the total equity capital of the company). The company is Modernising its Podanur, Kymore and Kolkatta works and the these projects have been completed The company has expanded the increased capacity of Fibre Cement/Asbestos Cement products during the financial year 2002-03 by 72000 MT and with this expansion,the total capacity has risen to 360000 MT.
ACC is holding 76.01% stake in Everest Industries as on 31.03.2004. Adani Port Infrastructure Ltd and Accurate Finstock Pvt Ltd have announced an open offer to acquire 20% stake in Everest Industries during April 2004.The open offer follows the agreement entered into by Swiss based Holcim which has signed a pact with Adani Ports to offload ACC's present stake of 76.01% in Everest Industries.
According to the Individual - Audited financial statement for the Year of 2012, total net operating revenues increased with 23.13%, from INR 734.74 tens of millions to INR 904.65 tens of millions. Operating result increased from INR 65.37 tens of millions to INR 98.55 tens of millions which means 50.76% change. The results of the period increased 30.27% reaching INR 52.76 tens of millions at the end of the period against INR 40.5 tens of millions last year. Return on equity (Net income/Total equity) went from 19.42% to 21.15%, the Return On Asset (Net income / Total Asset) went from 11.40% to 19.65% and the Net Profit Margin (Net Income/Net Sales) went from 5.51% to 5.83% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 107.61% compared to 170.41% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 2.07 to 1.47 when compared to the previous year.
Everest is one of India's fastest growing building solutions company. Founded in 1934, Everest is one of the most respected and renowned business entities in India, and has dominated the market ever since.It has continuously introduced innovative and modern building products with a promise of strength, speed and safety.Everest offers a complete range of world-class building solutions: roofing, ceiling, wall, flooring, cladding, door and pre-engineered steel buildings for the industrial, commercial and residential sectors.Historically, Everest has provided rural shelters, by making corrugated roofing sheets available to farmers at a competitive price. The company is poised to capitalize on the opportunities in rural India, where various housing and infrastructure initiatives are envisaged by the Government.
The Everest brand of products are produced at state-of-the-art ISO:9000 certified manufacturing facilities located at Kymore, Nashik, Coimbatore, Kolkata and Roorkee. With over 6000 retail points spread across the nation, together with the strength of over 1285 highly qualified and experienced engineers, designers and technicians, Everest provides building solutions that successfully meet the highest standards of quality and durability.Trained manpower is a dedicated strength at Everest. Apart from continuous development of employee skills, the company is also committed to their welfare.
After successfully catering to the Indian market, Everest has widened its horizons in the international arena. With consistent exports to Europe, Africa, Australia and Asia, Everest is all set to scale new heights and establish a strong foundation in the global market. Banking on 76 years of experience and highly sophisticated technology, Everest assures customers that all its products live up to the promise of strength, speed and safety.
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