Business Update3 Jul 2026, 09:50 pm
Everest Buildpro Withdraws ₹138 Cr CAPEX for Assam Plant
AI Summary
Everest Industries Ltd's wholly owned subsidiary, Everest Buildpro Private Limited (EBPL), has decided to withdraw a previously approved CAPEX of ₹138 crores for a new Fibre Cement Boards plant in Assam. The company had invested ₹10.90 crores towards land acquisition for the project. The decision to withdraw the CAPEX and surrender the land was made due to business considerations and re-assessed feasibility. EBPL stated that this withdrawal will not have an adverse impact on the company's financials.
Key Highlights
- Subsidiary EBPL withdraws ₹138 Cr CAPEX for new plant.
- ₹10.90 Cr already invested in land acquisition.
- Decision based on re-assessed feasibility and business considerations.
- No adverse financial impact expected from withdrawal.
Price Impact
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