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Everest Industries Limited ( (IN:EVERESTIND) ) just unveiled an announcement.
Everest Industries Limited has experienced a downgrade in its credit ratings by Crisil Ratings for both its long-term and short-term bank facilities, reflecting a weaker-than-expected business risk profile and lower profitability margins in the current fiscal year. Despite these challenges, the company is taking steps to improve its financial health, including diversifying its supplier base for asbestos, adopting six sigma practices to enhance quality, and focusing on higher-margin segments like Boards and Panels. The company’s financial risk profile remains stable with a healthy net worth and low gearing, and it plans to improve profitability and net accruals through strategic management changes and cost-cutting measures.
More about Everest Industries Limited
Everest Industries Limited is a prominent player in the domestic Asbestos Cement (AC) roofing and boards & panel market in India. With a history spanning 90 years, the company has a strong brand presence in the rural market, supported by a vast distribution network of approximately 11,000 retail outlets and over 32 sales depots. The company has diversified its revenue mix by expanding into the Pre-Engineered Building (PEB) segment and increasing its footprint in the Boards and Panels segment, which is expected to yield higher margins.
Average Trading Volume: 1,550
Technical Sentiment Signal: Strong Sell
Current Market Cap: 8.63B INR
For a thorough assessment of EVERESTIND stock, go to TipRanks’ Stock Analysis page.