EVEREST KANTO CYLINDERLTD

Manufactures high-pressure seamless gas cylinders, billed in filings as India's largest such producer, with plants in India, the US (CP Industries), Hungary and Dubai, plus a new Egypt facility targeted to commission by May 2026. The product mix is shifting from conventional gas storage into cylinders for commercial-vehicle CNG, defence and semiconductor applications, and the company is investing in Type 4 (composite) cylinders at its US unit. In FY26 it earned Rs. 1,470.57 cr of consolidated revenue, of which India contributed 64.2% (Rs. 966.69 cr), the US and Hungary 23.6% (Rs. 356.23 cr) and Dubai 10.1% (Rs. 151.95 cr), with the US carrying the highest segment margin (EBIT Rs. 47.35 cr) while Dubai was a near break-even (Rs. 1.75 cr). Raw materials account for 50.6% of revenue, employee cost 12.0% and other opex 23.6%, leaving consolidated EBITDA margin at 15.25%; management has guided to a sustainable 15-17% margin band with 15-20% revenue growth. Capacity is being expanded via the Mundra greenfield (one line operational, two more lined up, lifting India capacity about 15%), a $5.5M Type 4 capex at CP Industries, and the Egypt plant. A Rs. 11.29 cr penalty from the Kandla SEZ authority for non-fulfilment of Net Foreign Exchange obligations was booked as an exceptional item in FY26.