Everest Industries financials: balance sheet, profit and loss, cash flow

NSE: EVERESTINDBSE: 508906Other Construction MaterialsSmall Cap

Everest Industries Limited · Formerly Eternit Everest · Face value ₹10 · Listed Dec 1983 on BSE, Mar 1995 on NSE

₹450.05₹14.65 (3.15%)BSE ₹450.30

Share price at the NSE close on 30 Oct 2026. Previous close ₹464.70.

30 Oct: open ₹459.65, high ₹471.40, low ₹446.00

52-week range of traded prices to 30 Oct 2026

₹284.90Low, 30 Mar 2026₹605.00High, 3 Nov 2025

Market cap: ₹714 Cr1,748th largest listed
P/E: 37.52
P/E without one-offs: Lossover the last 12 months
P/B: 1.19
Dividend yield: 0.22%
ROE: 3.2%
ROE without one-offs: −10.0%
ROCE: −3.0%
Debt to equity: 0.18
Volume, NSE: 9,44211.9% delivered

Everest Industries' financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the half year to Sep 2026 after them.

10 years at a glance

₹ crore, years to March.Everest Industries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹1,723 Cr, year to Mar 2025; lowest ₹1,168 Cr, year to Mar 2017A loss in 2 of the 10 years shown

Operating and net margin, per cent

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 2.9% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,417
Materials and goods−870
Employee costs−162
Other expenses−423
Operating profit−38
Depreciation−41
Other income+11
One-off items−14
Finance costs−30
Profit before tax−112
Tax+9.8
Net profit−102

What the company owns

Plant, investments and other assets₹725 Cr
Inventory₹332 Cr
Receivables₹109 Cr
Cash and bank₹45 Cr

What pays for it: net worth and liabilities

Net worth₹495 Cr
Other liabilities₹419 Cr
Owed to suppliers₹169 Cr
Borrowings₹129 Cr

Everest Industries business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Everest Industries segment results by quarter

Revenue by segment

₹1,417 CrTotal

Building products₹1,082 Cr76.3% of total
Steel buildings₹335 Cr23.7% of total

Profit by segment

Building products₹58.0 Cr100.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Building products
Revenue, ₹ crore
910
843
963
1,045
1,138
1,154
1,114
1,082
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
122
50
153
115
78
83
64
58
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Steel buildings
Revenue, ₹ crore
499
442
255
320
509
421
609
335
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
9
18
−19
−12
40
5
22
−55
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	1,408	1,285	1,218	1,365	1,648	1,575	1,723	1,417
Company revenue, as in its results	1,408	1,285	1,218	1,365	1,648	1,575	1,723	1,417
Revenue	910	843	963	1,045	1,138	1,154	1,114	1,082
Revenue growth	–	−7.3%	14.3%	8.5%	8.9%	1.4%	−3.5%	−2.9%
Profit	122	50	153	115	78	83	64	58
Profit growth	–	−59.0%	206.8%	−25.0%	−32.5%	7.5%	−22.7%	−10.0%
Margin	13.4%	5.9%	15.9%	11.0%	6.8%	7.2%	5.8%	5.4%
Return on capital	–	12.3%	48.7%	36.6%	16.0%	15.4%	11.4%	13.2%
Assets	–	545	479	497	654	754	895	832
Liabilities	–	139	164	183	170	215	330	392
Capital employed	–	406	314	314	484	540	565	440
Revenue	499	442	255	320	509	421	609	335
Revenue growth	–	−11.3%	−42.4%	25.4%	59.4%	−17.3%	44.5%	−44.9%
Profit	9	18	−19	−12	40	5	22	−55
Profit growth	–	102.3%	–	–	–	−88.1%	368.1%	–
Margin	1.8%	4.1%	−7.3%	−3.7%	7.9%	1.1%	3.7%	−16.5%
Return on capital	–	15.0%	−18.5%	−8.1%	16.6%	3.6%	9.7%	−32.6%
Assets	–	217	200	257	350	279	349	245
Liabilities	–	96	100	113	109	145	118	76
Capital employed	–	122	101	144	241	134	231	169

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Sep 2026, the latest four quarters added.Everest Industries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 26 May	Sep 2026Twelve monthsFiled 26 Oct
Revenue from operations	1,168	1,297	1,408	1,285	1,218	1,365	1,648	1,575	1,723	1,417	1,365
	1,132	1,207	1,304	1,243	1,106	1,296	1,580	1,534	1,693	1,455	1,345
Materials and goods bought	650	711	784	740	655	745	957	941	1,028	870	789
Employee costs	–	–	116	117	110	130	150	154	168	162	154
Other expenses	–	–	404	387	341	421	473	440	497	423	402
Operating profit before depreciation	36	90	105	42	112	69	68	41	30	−38	20
Operating margin	3.1%	6.9%	7.4%	3.3%	9.2%	5.1%	4.1%	2.6%	1.7%	−2.7%	1.4%
Materials, % of revenue	–	–	55.6%	57.5%	53.8%	54.6%	58.1%	59.7%	59.7%	61.4%	57.8%
Employee costs, % of revenue	–	–	8.2%	9.1%	9.0%	9.5%	9.1%	9.8%	9.8%	11.4%	11.3%
Other expenses, % of revenue	–	–	28.7%	30.1%	28.0%	30.8%	28.7%	27.9%	28.8%	29.9%	29.5%
Depreciation and amortisation	25	24	21	24	25	29	34	32	39	41	41
Operating profit after depreciation	11	66	84	18	87	40	34	9	−9	−79	−21
Other income	9	10	6	9	9	29	41	18	15	11	14
Finance costs	19	13	8	7	4	3	32	13	24	30	28
Profit before one-off items and tax	1	64	83	21	92	67	43	14	−18	−98	−36
One-off items	0	0	0	0	0	0	0	8	12	−14	78
Profit before tax	1	64	83	21	92	67	43	21	−6	−112	42
	0	11	21	7	35	22	0	3	−3	−10	23
Current tax	–	14	21	4	41	22	0	7	8	0	22
Deferred tax	–	−3	1	3	−6	0	0	−4	−11	−10	1
Net profit	1	53	62	14	56	44	42	18	−4	−102	19
Other comprehensive income	–	–	0	0	1	0	0	0	0	3	4
Total comprehensive income	–	–	61	13	57	44	42	18	−3	−99	23
Net margin	0.1%	4.1%	4.4%	1.1%	4.6%	3.2%	2.6%	1.1%	−0.2%	−7.2%	1.4%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 26 May	Sep 2026Half yearFiled 26 Oct
	451	453	508	542	581	597	597	495	600
Share capital	16	16	16	16	16	16	16	16	16
Reserves	436	437	493	527	566	582	581	479	584
	83	66	0	0	64	45	164	129	105
Repayable after a year	47	45	0	0	0	45	95	101	96
Repayable within a year	36	21	0	0	64	0	70	28	9
	375	314	390	441	479	487	505	514	459
Trade payables	184	146	165	170	165	174	166	169	154
Other financial liabilities	41	53	52	50	33	71	61	70	44
Other liabilities	83	54	69	115	117	138	99	138	137
Provisions	5	5	5	4	4	4	5	0	0
Tax owed	25	35	100	102	95	99	105	110	114
	76	82	31	75	72	115	210	202	192
Other financial liabilities	0	5	4	48	45	45	96	88	79
Other liabilities	0	0	0	0	0	0	0	4	–
Deferred tax	29	32	27	27	27	25	20	10	17
	902	849	930	1,058	1,132	1,199	1,312	1,211	1,250
Held for sale or for a demerger	–	–	–	–	0	38	–	0	0
	403	428	444	447	448	516	616	604	582
Plant in use, after depreciation	335	358	353	397	385	397	467	542	–
Plant being built	26	21	13	19	24	79	12	12	–
Intangible assets	1	1	2	1	3	3	95	1	93
Intangible assets being developed	0	0	0	0	2	0	0	0	0
Investments	0	0	0	0	0	0	9	10	11
Loans given	0	0	0	0	0	0	0	15	0
Other financial assets	14	15	55	10	12	15	22	–	27
Deferred tax	0	31	18	0	17	14	7	0	0
Other assets	26	2	2	20	5	7	3	24	11
	499	421	486	612	683	645	696	607	669
Inventories	329	311	255	333	508	389	435	332	276
Trade receivables	99	67	57	54	105	95	155	109	104
Cash and cash equivalents	19	3	48	98	13	63	10	45	141
Other bank balances	0	0	85	67	2	0	1	0	61
Other financial assets	12	4	4	12	4	11	9	16	9
Other assets	39	36	38	48	52	87	86	105	78
Net debt	64	63	−133	−165	49	−19	153	84	−97

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 26 May	Sep 2026Half year
	264	32	−168	183	−90	109	103
	227	53	−155	184	−96	115	119
	91	−26	−236	134	−148	143	48
Receivables	0	0	−45	10	−65	37	1
Inventories	55	−77	−175	119	−46	89	57
Payables	19	29	0	16	−5	5	−15
Other working capital	16	23	−15	−10	−32	13	5
Tax paid	37	−21	−14	−2	6	−6	−16
Capital spending	17	34	33	126	81	31	5
Free cash flow	247	−2	−202	57	−171	78	98
	−140	36	40	−93	−59	−10	34
Plant and property sold	0	4	0	8	11	5	85
Interest received	5	4	4	4	8	0	4
	−79	−18	42	−39	96	−64	−40
Borrowings raised	0	0	64	45	119	16	−5
Borrowings repaid	−72	0	0	−64	0	−51	−19
Interest paid	−3	−1	−4	−3	−10	−13	−7
Lease payments	−3	−7	0	−10	−11	−13	−8
Dividends paid	2	12	9	9	4	4	2
Shares bought back	0	0	0	0	0	0	0
Shares issued	0	2	3	3	0	0	0
Net change in cash	45	50	−85	50	−53	35	97

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Everest Industries dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 26 May
Earnings per share	₹0.80	₹35.08	₹39.29	₹8.65	₹36.06	₹28.18	₹26.98	₹11.42	−₹2.28	−₹64.20
Diluted earnings per share	₹0.80	₹35.08	₹39.29	₹8.65	₹36.06	₹28.18	₹26.90	₹11.33	−₹2.28	−₹64.20
Dividend per share	₹1.00	₹6.50	₹7.50	₹1.00	₹7.50	₹6.00	₹6.00	₹2.50	₹2.50	₹1.00
Book value per share	–	–	₹288.60	₹289.41	₹325.12	₹345.85	₹369.42	₹378.38	₹377.13	₹311.88
Dividend payout	124.4%	19.1%	19.0%	11.6%	20.8%	21.3%	22.3%	21.9%	–	–
Shareholder yield	–	–	–	–	0.4%	0.9%	0.5%	0.4%	0.6%	0.9%
Market cap at the year end (₹ crore)	350	742	728	207	448	1,114	1,189	1,643	690	460

Ratios

Consolidated, years to March.Everest Industries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026Filed 26 May
Revenue growth	−11.1%	11.0%	8.6%	−8.7%	−5.3%	12.1%	20.7%	−4.4%	9.4%	−17.8%
Operating profit growth	−55.9%	147.7%	16.3%	−59.6%	165.3%	−38.4%	−2.1%	−39.3%	−27.0%	–
Net profit growth	−96.4%	4,179.0%	16.6%	−78.1%	316.8%	−21.8%	−3.9%	−57.5%	–	–
Earnings per share growth	–	4,285.0%	12.0%	−78.0%	316.9%	−21.9%	−4.3%	−57.7%	–	–
	–	–	13.7%	3.0%	11.7%	8.4%	7.5%	3.1%	−0.6%	−18.6%
	–	–	–	−10.7 pts	8.7 pts	−3.3 pts	−0.9 pts	−4.5 pts	−3.7 pts	−18.0 pts
From the net margin	–	–	–	−10.4 pts	10.2 pts	−3.5 pts	−1.7 pts	−4.2 pts	−3.6 pts	−20.1 pts
From asset turnover	–	–	–	−0.2 pts	−0.9 pts	0.0 pts	0.6 pts	−0.3 pts	0.0 pts	3.8 pts
From borrowing	–	–	–	−0.1 pts	−0.5 pts	0.2 pts	0.2 pts	0.0 pts	0.0 pts	−1.7 pts
Return on capital employed	–	–	15.7%	3.6%	17.0%	7.4%	5.2%	1.3%	−1.2%	−12.7%
Cash conversion	–	–	–	–	468.0%	72.9%	−397.0%	1,014.0%	–	–
Interest cover	0.6	5.3	11.0	2.6	22.2	12.8	1.1	0.7	–	–
Debt to equity	–	–	0.18	0.15	0.00	0.00	0.11	0.08	0.27	0.26
Receivable days	–	–	26	19	17	14	23	22	33	28
Inventory days	–	–	153	153	142	163	194	151	154	139
Payable days	–	–	86	72	92	83	63	68	59	71
Cash conversion cycle, days	–	–	94	100	68	94	154	105	128	97
Working capital days	–	–	37	35	−11	1	56	22	53	19
Asset turnover	–	–	1.56	1.47	1.37	1.37	1.50	1.35	1.37	1.12
Assets per rupee of net worth	–	–	2.00	1.94	1.85	1.89	1.95	1.98	2.10	2.31
Sales per rupee of plant	–	–	4.20	3.59	3.45	3.44	4.28	3.97	3.69	2.62
Capital spending to depreciation	–	–	–	–	0.66	1.18	0.99	3.88	2.07	0.75
Plant being built, % of plant in use	–	–	7.7%	5.7%	3.8%	4.8%	6.3%	20.0%	2.6%	2.2%

Interest cover is left blank for the years to Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −8.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	0.8%	3.1%	−4.9%
Return on equity, average	–	−0.1%	−5.4%
Return on capital employed, average	–	0.0%	−4.2%
Operating margin, average	4.1%	2.2%	0.6%
Net margin, average	1.4%	−0.1%	−2.1%
Asset turnover, average	–	1.35	1.28
Cash conversion cycle, days, average	–	116	110
Debt to equity, average	–	0.14	0.20

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	65	201	109
Cash from investing	−86	−162	−10
Cash from financing	18	−7	−64
Capital spending	304	237	31
Dividends paid	39	17	4
Shares bought back	0	0	0
Shares issued for cash	8	3	0
Borrowings raised	243	180	16
Borrowings repaid	114	114	51

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	8	4	3	3	3	2
Altman Z-scorePublished threshold 1.81	–	–	3.70	2.81	3.15	3.70	3.89	3.89	2.73	1.98
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.61	−2.68	−0.79	−2.62	−1.77	−3.82
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−7.62	−2.38	15.55	−6.12	11.59	−15.89
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	0.90	0.45	−1.34	–
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−23.49	−10.15	−17.83	75.34	−5.42	53.80	−12.14
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−0.04	−6.37	16.61	24.04	−21.65	2.51	−8.18
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−0.87	0.10	1.37	−0.22	2.64	−0.16	1.82
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.44	0.69	0.26	1.10	1.79	0.11	0.10
Effective tax ratePublished threshold 17.16 per cent	7.46	16.85	25.34	35.20	38.47	33.73	1.12	15.08	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	1.91	−30.39	7.73	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
4 Jun 2026	CRISIL Ratings Limited	Bank Facilities	Crisil A-Review, Other	Negative	145
4 Jun 2026	CRISIL Ratings Limited	Bank Facilities	Crisil A2+Review, Other		240
10 Apr 2026	ICRA Limited	Unallocated limits-Unallocated limits	[ICRA]A /[ICRA]A2+Review, Other	Negative	60
10 Apr 2026	ICRA Limited	Non-fund based-Others	[ICRA]A2+Review, Other		250
10 Apr 2026	ICRA Limited	Fund-based-Cash credit	[ICRA]AReview, Other	Negative	130

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.