With respect to our earlier intimation dated August 29, 2025 on the sale of land at Podanur, we would like to inform you that on October 26, 2025, the Ministry of Environment, Forest and Climate Change (MoEF & CC) has granted the needed amendment in the Environment Clearance (EC) with respect to the reduction of our land area. Therefore, the timelines for execution of the sale deed mentioned in the term sheet shall be read accordingly and the second tranche of payment of consideration by buyer will now be received by the Company.This intimation is given pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
EVERESTIND · price
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Everest Industries has received the required amendment to its Environment Clearance from the Ministry of Environment, Forest and Climate Change for the proposed sale of land at Podanur, following its earlier intimation dated August 29, 2025. With this regulatory clearance now in place, the timelines for executing the sale deed will be extended accordingly. As a result, the company will now receive the second tranche of payment consideration from the buyer, taking the transaction closer to completion.
The clearance removes a key regulatory hurdle, allowing the land sale deal to progress and enabling inflow of the next payment tranche to the company, which is positive for near-term cash flow but does not signal any broader strategic shift.