Everest climbs

Everest climbs
Published: 02 April 2004

Everest Industries Ltd, a subsidiary of Associated Cement Companies (ACC), is increasing its manufacturing capacity from 300,000tpa to 450,000tpa. The plan includes scaling up capacity at its Kymore (Madhya Pradesh) and Coimbatore (Tamil Nadu) units and setting up a new unit, with an investment of Rs25 crore, for manufacturing new-technology products, like fibre cement boards. The company will fund the project through internal accruals. EIL is now exporting cement boards to Middle East and expects a 20 percent growth once the production capacity is enhanced. With this, the company hopes to double its turnover in the next 4-5 years. During the 9 months ended Dec 2003, EIL made a net profit of Rs8.6 crore over a turnover of Rs148.86 crore.