New Delhi, August 11: Everest Industries Limited, one of the fastest growing building solutions companies, announced its financial results for the quarter ended June 30th 2010 as approved by its Board of Directors.
The Consolidated Results for the quarter ended June 30th 2010 are as follows:
The company’s total sales turnover increased to 199.65 crores from 178.1 crores in the quarter ended June 30th 2010. This is an increase of 12 % on a
Quarter-on-Quarter basis. This growth was a result of volume growth of 8 % in Building Products division and 12.9 % in the Steel Buildings division.
Operating profits rose from 20.64 crores (11.6% of sales) to 28.22 crores (14.1 % of sales), one of the best in the industry.
The Profit after Tax (PAT) increased to 15.50 Crores, a whopping 64 % increase over last year.
The Earnings Per Share (EPS) is 10.37
“We are aggressively expanding our reach in the remotest of areas, increasing production capacities as well as introducing new products that enable speedy and efficient constructions. With these initiatives our position in the market is getting stronger and we are witnessing a surge in our revenue and operating margins,” `stated Mr. M. L. Gupta, Managing Director, Everest Industries Limited.
Product Portfolio: The company comprehensive product portfolio includes Everest Ceiling Solutions, Everest Wall Solutions, Everest Floor Solutions, Everest Cladding Solutions, Everest Doors, Everest Roofing Solutions and Everest Steel Building Solutions.
Green Solutions: Everest Industries is amongst the early adopters of green building practices in India. The company’s commitment for greener practices in buildings and construction can be gauged from the fact that one of its product Everest Fibre Cement Board is made from 40% recycled content and is considered the best substitute to natural wood and wood based products.
About the Company: Established in the year 1934, Everest Industries Limited integrated consumers approach has made them provide building products and building solutions for housing, commercial and industrial sectors in over 15 countries, 600 cities through five state of the art manufacturing facilities, 31 sales depots and 14 offices. The company has manufacturing facilities in Kymore (Madhya Pradesh), Kolkata (West Bengal), Coimbatore (Tamil
Nadu), Nashik (Maharashtra). The established a green field, ultra modern manufacturing plant in Bhagwanpur (Uttaranchal) in the year 2007. The company plans to provide building solutions that deliver Strength, Speed and Safety to its customers even in the remotest of areas in all its target markets.
Company History: Everest Industries Limited, established in the year 1934, is one of India’s fastest growing building solutions companies. The company’s integrated consumers approach has enabled it to provide building products and building solutions for housing, commercial and industrial sectors in over
15 countries, 600 cities, through 5 state- of- the art manufacturing facilities, 31sales depots and 14 offices. The company currently has a turnover in excess of Rs. 650 crores and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company’s endeavour is to provide building solutions that deliver Strength, Speed and Safety to its customers even in the remotest of areas in all its target markets.
Manufacturing Facilities and Market Overview: The fibre cement industry in India has a production capacity of 4.88 million MT. There are 17 players and Everest has an overall 14% market share. The company has manufacturing facilities in Kymore (Madhya Pradesh), Kolkata (West Bengal), Coimbatore (Tamil Nadu) and Nashik (Maharashtra). Everest Industries also established in the year 2007 a green field, ultra-modern manufacturing unit at Bhagwanpur, Roorkee (Uttranchal). The plant manufactures Roofing Sheets, Everest Fibre cement boards, pre-engineered Steel Buildings and Smart Steel Buildings. This plant has an installed capacity of 50,000 tonnes of Fibre Cement Boards 40,000 metric tones of steel fabrication products and 1-lakh tonnes of roofing products per annum.
It also has a state-of-the-art R&D centre in Nashik, which constantly works on product up-gradation and development of new products.
Financials: Everest Industries recently announced its first quarter financial year results for FY 2010-11, ended June 30th, 2010.
We are talking bout quarter results. Mentioning the yearly results with this makes it confusing for the reader. Talk bout quarter results ( sent in earlier mail ) only as as this point in time only they would be relevant.
Distribution Network: The company’s roofing products and boards are currently available through more than 6000 retail outlets spread across the country. The company is aggressively pursuing a campaign to increase dealer network by over 25% to ensure that our products are available even in the remotest of
villages.
PRODUCT PORTFOLIO: Everest Ceiling Solutions, recognizing the changing market needs, Everest has launched Ceiling Solutions that overcome
all traditional problems. Besides being 100% asbestos free, they are fire resistant, termite proof and great sound absorbers. Ideal for specific needs in residential, commercial and industrial segments, Everest Ceiling Boards can be aesthetically finished with a variety of options.
Everest Wall Solutions: To overcome the problems of inconsistency, time-consumption, untidiness, generation of wet waste and vulnerability to termites present in the traditionally used brick and mortar systems, Everest has developed a range of new age Wall Solutions. These are ideal for multiple
applications in residential, commercial and industrial segments. Everest Wall Solutions include Everest Wall Boards, Everest Designer wall board, Everest Heavy Duty Wall Board and Everest Solid Wall Panels.
Everest Floor Solutions: Everest Floor Boards enhance acoustics and can be aesthetically finished. Ideal for applications in residential, commercial and industrial segments, Everest Floor Solutions are fire resistant, impact resistant and offer excellent noise control. Everest Floor Solutions include Everest Floor Boards and Everest Heavy Duty Floor Boards.
Everest Doors: Everest Door Solutions have a host of advantages compared to traditional wooden doors in terms of moisture resistance, immunity towards termite and vermin as well as nonflammable attributes.
They can be easily coated with any kind of paint or simply polished to look like wood. These Doors are standardized factory made doors which ensure consistency in material and quality of product.
Everest Cladding Solutions: Cladding gives a unique identity and character to buildings and also provides an aesthetically pleasing look to the exteriors. Utilizing its experience in the field of fibre cement products, Everest has developed a range of optimal cladding solutions that are ideal for specific needs and
are perfect for both ventilated as well as gapped applications. Light in weight and easy to install, they do not require a heavy framework. Everest Cladding Solutions are available in three variants Everest Cladding, Everest Nature Claddings and Everest Sidings.
Roofing Solution: Everest has been a pioneer in the roofing segment for the last 76 years. The market for fibre cement roofing today is estimated to be Rs. 3250 crores and for metal roofing Rs. 3500 crores.
Everest Roofing Solutions include Everest AC Roofing, Everest Rooflight, Everest Hi-Tech and Everest Metal Roofing. Everest AC Roofing, which is fibre cement corrugated roofing sheets, is used extensively throughout the country for factories, power plants, stadiums, schools, urban and rural houses etc. Everest Hi-Tech is a high impact resistance non-asbestos corrugated modern roofing system in which cement is reinforced with specially developed polypropylene
fibres using the unique HIPP (High Impact Poly Propylene) tchnology. Everest Rooflight’s high impact strength and impressive physical properties makes it an ideal choice to provide natural light and compliments the industrial, commercial and agricultural roofing systems.
Steel Building Solutions: Everest Steel Building Solutions include Pre-Engineered Steel Buildings and Smart Steel Buildings which is a relatively new concept in the Indian market. Pre-Engineered Steel Buildings are essentially used for making big structures such as industries, airports etc. Smart Steel Buildings are constructed for utility buildings such as housing, cottages and other ancillary buildings. Low maintenance costs, versatile use, and ease of expansion are reasons why these solutions are preferred in most developed nations. The market today for PEB’s in India is estimated at Rs. 3000 crores with a 35% growth rate. The company has already undertaken more than 350 projects and its market share in the PEB market is 5%. The division supplied 18,000 MT of steel buildings and components this year and achieved a turnover of Rs. 125 crores, an increase of 36.7% from last year.
Going Green: Everest Industries is amongst the early adopters of green-building practices in India. In an effort to provide energy-efficient solutions to lower costs, Everest Industries has customized solutions to provide aesthetic office spaces which are energy efficient too. ‘Green solutions’ utilizes Everest’s expertise in building and construction and combines popular products like Light Gauge Steel Systems which are strong, re-locatable and can withstand adverse weather conditions.
Everest’s commitment for greener practices in building and construction can be gauged from the fact that one of its products, Everest Fibre Cement Boards, is made from 40% recycled content and is considered the best substitute to natural wood and wood based products.
Corporate Social Responsibility: The company’s manufacturing plants and offices actively participate in the welfare and upliftment of their respective communities. Plantation drives, medical camps, cultural programs and assisting local NGO’s are a part of regular activities, supported by Everest clubs at each
location. The company’s initiative of settling up a weaving training centre for under privileged women in Uttarakhand has produced 20 certified trainees who are now self-employed. The Everest Award of Excellence instituted in many leading architectural colleges in India continues to recognize and reward outstanding performance by students.
—Agencies