Everest Industries Limited on Wednesday announced that the board of directors approved the investment of Rs 187 crores to set up a new boards and panels plant through a wholly owned subsidiary or by the company at KIADB Industrial Area at Chamarajanagar District, Karnataka post required approval.
The said CAPEX would help boost the capacity to 301,000 MTPA from the earlier 210,000 MTPA for boards and panels. The capital expenditure would be funded through a mix of internal accruals and debt and would be operational by June 30, 2024.
The shares of Everest Industries Limited on Wednesday at 2:47 pm was at Rs 789, up by 10 per cent.
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