Date: May 27, 2021

National Stock Exchange of India Limited	BSE Limited
Exchange Plaza, Plot No. C/1, G Block	Phiroze Jeejeebhoy Towers
Bandra – Kurla Complex	Dalal Street,
Bandra (E), Mumbai – 400 051	Mumbai – 400 001
Scrip Code : 508906	Symbol : EVERESTIND

Sub.: Outcome of the Board Meeting and Financial Results

Dear Sir/Madam,

In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. May 27, 2021 has inter-alia, considered and approved the following:

1. Approved Audited Financial Statements (Standalone and Consolidated) for the year ended March 31, 2021 and the Audited Financial Results (Standalone and Consolidated) for the quarter/ year ended March 31, 2021, as recommended by the Audit Committee.
1. Recommended payment of Dividend of ₹ 7.50/- per equity share i.e. 75% on equity shares of face value of ₹10/- each for the financial year ended March 31, 2021. The above dividend, if declared by the members of the Company at the ensuing Annual General Meeting will be credited/ dispatched within 30 days from the date of Annual General Meeting.

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we are enclosing herewith the following:

1. Statement showing the Audited Financial Results (Standalone and Consolidated) for the quarter/ year ended March 31, 2021; and
1. Auditors' Report on Audited Financial Results Standalone and Consolidated.

We wish to confirm that the Statutory Auditors of the Company have expressed an unmodified opinion on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter/ year ended March 31, 2021.

The meeting of the Board of Directors commenced at 5.00 pm and concluded at 8.45 pm

This is for your information and records.

Thanking you,

Yours faithfully, For Everest Industries Limited Neeraj Kohli Company Secretary & Head – Legal Encl.: As above NEERAJ KOHLI Digitally signed by NEERAJ KOHLI Date: 2021.05.27 20:51:16 +05'30'

Chartered Accountants

2nd & 3rd Floor Golf View Corporate Tower - B Sector - 42, Sector Road Gurugram - 122 002, Haryana, India Tel: +91 124 681 6000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of Everest Industries Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Everest Industries Limited (the "Company") for the quarter ended March 31, 2021 and for the year ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, , the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter ended March 31, 2021 and for the year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and

application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The comparative financial information of the Company for the year ended March 31, 2020, quarter ended March 31, 2020 and quarter ended December 31, 2020 included in the financial results, have been restated to give effect to the Scheme of Amalgamation ("the Scheme") of Everest Building Solutions Limited ('EBSL') with the Company, as explained in Note 6 to the financial results.

The financial information of erstwhile EBSL included in the restated comparative financial information have been audited by the other auditors. The adjustment made to the previously issued financial information to give effect of the scheme have been audited by us.

Our report is not modified in this regard.

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm Registration Number: 301003E/E300005 Digitally signed by SANJAY VIJ DN: cn=SANJAY VIJ, c=IN, o=Personal, email=[email protected] SANJAY VIJ

per Sanjay Vij Partner Membership Number: 95169 UDIN: 21095169AAAABH4549 Place of Signature: Gurugram Date: May 27, 2021

______________________________

Location: Gurugram Date: 2021.05.27 20:54:08 +05'30'

EVEREST INDUSTRIES LIMITEDTel +91 2557 250375/462, Fax +91 2557 250376, [email protected], www.everestind.comCIN No. L74999MH1934PLC002093Audited Standalone Financial Results for the Quarter and Year ended 31 M

						(Rs. in Lakhs)
SL.No.	Particulars	Quarterended	Quarterended	Quarterended	Yearended	Yearended
		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		(Audited)(See Note 4)	(Unaudited)(See Note 6)	(Audited)(See Note 4and Note 6)	(Audited)	(Audited)(See Note 6)
1.	Revenue from operations	34,606	27,857	28,967	121,324	128,375
$\overline{2}$	Other Income	263	169	118	889	945
3.	Total Income	34,869	28,026	29,085	122,213	129,320
4.	Expenses
	a) Cost of raw materials consumed	19,237	16,230	17,450	61,224	71,934
	b) Purchase of traded goods	108	79	78	366	266
	c) (Increase)/ decrease in inventories of finished goods,
	work-in progress and traded goods	(627)	(1,708)	(1,049)	3,660	1,721
	d) Employee benefits expense	2,538	2,652	2,375	10,884	11,571
	e) Finance costs	103	61	155	390	704
	f) Depreciation and amortisation expense	640	646	572	2,531	2,374
	g) Other expenses	10,550	8,998	10,034	33,874	38,642
	Total expenses	32,549	26,958	29,615	112,929	127,212
5.6.	Profit/(loss) before taxTax expense	2,320	1,068	(530)	9,284	2,108
	a) Current Tax	1,102	708	(134)
	b) Deferred Tax	(29)	(333)	(44)	4,100(575)	419
	Total Tax	1,073	375	(178)	3,525	316
7.	Profit/(loss) for the period	1,247	693	(352)		735
8.	Other comprehensive income				5,759	1,373
	Items that will not be reclassified subsequently to the statement ofprofit or loss
	(a) Re-measurement gains/(losses) on defined benefit plans	186	(12)	(8)	149	(49)
	(b) Income tax effect	(65)	4	3	(52)
9.	Total comprehensive income for the year, net of tax	1,368	685	(357)	5,856	17
10.	Paid up equity share capital (Face value Rs. 10/- each)	1,564	1,564	1,564	1,564	1,341
11.	Other equity excluding revaluation reserves as per balance sheet					1,564
12.	of previous accounting year				49,439	43,736
13.	Earnings per share - Basic (Rs.) (not annualised)	7.97	4.43	(2.25)	36.83	8.78
	Earnings per share - diluted (Rs.) (not annualised)	7.97	4.43	(2.25)	36.83	8.78

Everest Technopolis, D-206, Sector-63, Noida-201301, Uttar Pradesh, India T +91 120 4791800 | Helpline 1800 4191991 E [email protected] | www.everestind.com

Segment-Wise Revenue, Results, Assets and Liabilities for theQuarter and Year ended 31 March, 2021

	Particular	Quarterended	Quarterended	Quarterended	Yearended	(Rs. in Lakhs)Yearended
		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		(Audited)(See Note 4)	(Unaudited)(See Note 6)	(Audited)(See Note 4and Note 61	(Audited)	(Audited)(See Note 6)
1.	Segment revenuela.Building productsb.Steel buildings	25,898	21,692	18,270	95,849	84,130
	Total revenue	8,708	6,165	10,697	25,475	44,245
		34,606	27,857	28,967	121,324	128,375
	2. Segment results Profit/(loss) before tax andfinance costs from each segmenta.Building products
	b.Steel buildingsTotal	3,758(505)	3,267(956)	274513	15,433(1, 866)	5,048
	Less:Finance costsi.	3,253	2,311	787	13,567	1,8316,879
	li.Other unallocable expenditure(net of unallocable income)	103	61	155	390	704
	Total Profit/(loss) before Tax	830	1,182	1,162	3,893	4,067
		2,320	1,068	(530)	9,284	2,108
3.	Segment AssetsBuilding productsla.	47,910
	Steel buildingsb.Unallocable	20,02325,124	50,77217,162	54,47921,735	47,91020,023	54,47921,735
	Total assets	93,057	24,47292,406	8,65284,866	25,124	8,652
a.	Segment Liabilities				93,057	84,866
b.	Building productsSteel buildings	16,3429,960	17,3039,619	13,830	16,342	13,830
c.	UnallocableTotal liabilities	15,752	15,705	9,55316,183	9,96015,752	9,55316,183
		42,054	42,627	39,566	42,054	39,566

Everest Technopolis, D-206, Sector-63, Noida-201301, Uttar Pradesh, IndiaT +91 120 4791800 | Helpline 1800 4191991E [email protected] | www.everestind.com

NOTES :

$1.$ Balance sheet as at 31 March, 2021

(Audited)(Audited)(See Note 6)ASSETS1. Non-current assetsProperty, plant and equipment34,521Right to use Asset751Capital work in progress1,342Intangible Assets247Financial assets(i) Investment(ii) Other financial assets5,5051,515Other Non current assets188194Income tax assets (net)1,8393,091Total - Non-current assets44,39342,7632. Current assetsInventories25,528Financial assets31,066(i) Trade receivables5,816(ii) Cash and cash equivalent6,7894,774(iii) Bank balances other than (ii) above2428,492(iv) Other financial assets42356Other current assets4243,6983,540Total - Current assets48,66442,103TOTAL ASSETS93,05784,866EQUITY AND LIABILITIES1. EquityShare Capital1,564Other Equity1,56449,43943,736Total-Equity51,00345,3002 Non-current liabilitiesFinancial Liabilities(i)Borrowings(ii) Lease liability4,523427Deferred tax liabilities (net)4802,6803,203Total - Non-current liabilities3,1078,2063. Current liabilitiesFinancial Liabilities(i)Borrowings(ii) Lease liability2,119404(iii) Trade payables262(a) total outstanding dues of micro enterprises and smallenterprises787895(b) total outstanding dues of creditors other than microenterprises and small enterprises15,62313,659(iv) Deposit from dealers3,044(v) Other financial liabilities3,2151,703Provisions for retirement benefits1,858485Other current liabilities5366,889Provision for Income tax (net)5,36610,0123,450Total - Current liabilities38,94731,360TOTAL EQUITY AND LIABILITIES93,05784,866		Particulars	As at 31.03.2021	(Rs. in Lakhs)
				As at 31,03,2020

	Α.



				35,150
				694
				2,061
				58



















	В.

Everest Technopolis, D-206, Sector-63, Noida-201301, Uttar Pradesh, India T +91 120 4791800 | Helpline 1800 4191991 E [email protected] | www.everestind.com

$\overline{\mathbf{2}}$ Statement of Cash Flows for the Year ended 31 March, 2021

	Particulars		(Rs. in Lakhs)
		Year ended	Year ended
		March 31, 2021	March 31, 2020
		(Audited)	(Audited)
А.	Cash flow from operating activities		(See Note 6)
	Profit before tax
		9.284	2,108
	Adjustments for:
	Depreciation and amortisation expenses
	Finance costs	2.531	2,374
	Interest income	390	704
	Loss on sale of property, plant and equipment assets (net)	(603)	(367)
	Liabilities / provisions no longer required written back	58	55
	Impairment of investment	(74)	(485)
	Share based payment to employees		37
	Provision for impairment of capital work in progress	з	233
	Provision for government subsidy	360	160
	Impairment of doubtful trade receivables	577
	Impact of fair valuation of financial instruments	875	202
	Re-measurement (loss)/gain of defined benefit plan	(3)	44
	Net unrealised (gain)/loss on exchange rate fluctuation	149	(49)
	Operating profit before working capital changes		412
		13,547	5,428
	Working capital adjustments:
	Decrease in inventories	5,538	1,825
	(Increase)/decrease in trade receivables	98	3,052
	(Increase)/decrease in other non current financial assets	(55)	(108)
	(Increase)/decrease in other non current assets	31	(62)
	(Increase)/decrease in other current financial assets	67	713
	(Increase)/decrease other current asset	(159)	392
	Increase/(decrease) in trade payables	1,932	(3,397)
	Increase/(decrease) in deposits from dealers	(171)	585
	Increase/(decrease) in other financial liabilities	431	(256)
	Increase/(decrease) in other current/ non current liabilities	1,523	(2, 139)
	Increase/(decrease) in provisions	(52)	(10)
	Cash generated from operationsIncome tax (paid)/refund	22,730	6,023
		3,713	(434)
	Net cash flows from operating activities
		26,443	5,589
	B. Cash flow used in investing activities
	Capital expenditure on Property, plant and equipment
	Proceeds from sale of fixed assets	(1,664)	(2,931)
	- Investment in fixed deposits not considered as cash & cash equivalents	45	20
	Interest received	(12, 893)	(3)
	Net cash flow used in investing activities	539	346
		(13, 974)	(2, 568)
	C. Cash flow used in financing activities
	Repayment of long-term borrowings
	Payment of financial Lease liability	(5,042)	(692)
	Proceeds/(repayment) of short-term borrowings	(329)	(249)
	Finance costs	(2, 119)(284)	(1, 518)
	Dividends paid during the year		(708)
	Dividend distribution tax on dividend paid	(163)	(1, 173)
	Net cash flows used in financing activities	(7, 937)	(241)
			(4,582)
	Net change in cash and cash equivalents (A)+(B)+(C)	4,532	(1, 561)
	Cash and cash equivalents at the beginning of the year	242	1,785
	Additions pursuant to Scheme of Amalgamation [Refer Note 6]		18
	Cash and cash equivalents at year end	4,774	242

Everest Industries Limited

Everest Technopolis, D-206, Sector-63, Noida-201301, Uttar Pradesh, IndiaT +91 120 4791800 | Helpline 1800 4191991 E [email protected] | www.everestind.com

NOTES:

$\overline{\mathbf{3}}$ The above standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 27 May, 2021. The Statutory Auditors have carried out audit of the standalone financial results of the Company for the quarter and year ended 31 March, 2021, in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
$\ddot{a}$ The figures for the quarters ended 31 March 2021 and 31 March 2020 are the balancing figures between audited figures in respect of the rights for the quarters energy of more above any so more above the covenancing ngores between source ngules in the full financial year and the published unaudited year to date figures upto the third quarter of the resp
The Company has considered the possible effects that may result from the global health pandemic relating to COVID-19 on its 5. operations. Management believes that it has taken external and internal risks into account for assessing the possible impact of COVID-19 on various elements of its financial results, including its liquidity position and the recoverability of assets. However, the impact assessment of COVID-19 is a continuing process, given the uncertainties associated with its nature and duration. The implex assessment or cover as is a community process, given are uncertainted associated that its nature and datation. The Company will continue to monitor any material changes to future economic conditions and the conseque
On March 25, 2021 the Company filed with Registrar of Companies the certified copy of NCLT order approving the amalgamation of 6. the Company and its wholly owned subsidiary (Everest Building Solutions Limited). Being a transaction under Common control the company and its milany omned subsidiary percrest banding subdivirs eminedy, being a transaction ander common control.Business combination, financial information as on April 01, 2019 and all periods thereafter, were re amalgamation.
The Board of Directors has recommended a dividend @ 75 % (Rs. 7.50 /-per share) for the Financial Year 2020-21 subject to $\overline{z}$
1. The previous period and year figures have been regrouped/ reclassified wherever necessary.

For and on behalf of the Board of Directors

Digitally signed by Rajesh Rajesh Arvind Joshi Arvind Joshi Date: 2021.05.27

Rajesh Joshi Managing Director and CEO

Place: Mumbai Date: May 27, 2021

Everest Industries Limited

Everest Technopolis, D-206, Sector-63, Noida-201301, Uttar Pradesh, India T +91 120 4791800 | Helpline 1800 4191991 E [email protected] | www.everestind.com

Chartered Accountants

2nd & 3rd Floor Golf View Corporate Tower - B Sector - 42, Sector Road Gurugram - 122 002, Haryana, India Tel: +91 124 681 6000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of Everest Industries Limited