Everest Industries Ltd - EVEREST INDS. Share Price

Summary

Everest Industries Ltd., formerly known as Eternit Everest commenced business by taking over, as a growing concern, the erstwhile Asbestos Cement (India) at Kymore, Madhya Pradesh. The company manufactures fibre based cement products,such as sheets for roofing and interiors as well as Non Asbestos flat sheets for varied applications including pre-fab housing. The company was the first to manufacture asbestos cement roofing sheets in India at its first factory commissioned in May 34. Its manufacturing business was progressively expanded by establishing a second sheeting factory at Mulund, Bombay, in 1937, a third one at Calcutta in Oct.38 and a fourth at Podanur (near Coimbatore), Tamilnadu, in Nov.53. In Sep.57, a another sheeting plant was installed at the Kymore factory. Plants to manufacture pipes were added between 1938 and 1963. Its Everest brand enjoys huge brand equity.Besides roofing,the company has introduced a range of new generation products called E-Board Classic for varied applications in interiors.In 1988-89, Turner & Newall International, UK, sold its stake in the company to Eteroutremer, Belgium, the holding company of the Eternit group, Belgium. It obtained central government approval to shift part of the production capacity of the Mulund works to Nashik and to shift the balance capacity within one year from the date of commissioning of the factory at Nasik. The company is venturing into non-asbestos-based roofing and panelling products. In addition to the... Read More