Further to our intimation dated March 21, 2025 on captioned subject, we wish to inform you that the setting up of the manufacturing facility in R. Ananthpuram, Andhra Pradesh, for the Steel Building Division is deferred to Financial Year 2026-27 and the same is being re-evaluated and discussed with Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC).
EVERESTIND · price
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Everest Industries' wholly owned subsidiary, Everest Steel Building Private Limited, is deferring the setting up of a manufacturing facility in R. Ananthpuram, Andhra Pradesh to Financial Year 2026-27. The original plan was announced in March 2025. The company states the project is being re-evaluated and discussed with Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC). No specific reasons for the deferral or project costs were disclosed in this filing.
The delay signals a strategic review or potential challenges with the greenfield project, which may raise questions about execution timelines and capital allocation plans among investors.