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 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 LIMITED
Tel +91 2557 250375/462, Fax +91 2557 250376, [email protected], www.everestind.com
CIN No. L74999MH1934PLC002093
Audited Standalone Financial Results for the Quarter and Year ended 31 M

						(Rs. in Lakhs)
SL. No.	Particulars	Quarter ended	Quarter ended	Quarter ended	Year ended	Year ended
		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 4 and Note 6)	(Audited)	(Audited) (See Note 6)
1.	Revenue from operations	34,606	27,857	28,967	121,324	128,375
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 tax Tax expense	2,320	1,068	(530)	9,284	2,108
	a) Current Tax	1,102	708	(134)	4,100	419
	b) Deferred Tax	(29)	(333)	(44)	(575)	316
	Total Tax	1,073	375	(178)	3,525	735
7.	Profit/(loss) for the period	1,247	693	(352)	5,759	1,373
8.	Other comprehensive income Items that will not be reclassified subsequently to the statement of profit or loss
	(a) Re-measurement gains/(losses) on defined benefit plans	186	(12)	(8)	149	(49)
	(b) Income tax effect	(65)	4	3	(52)	17
9.	Total comprehensive income for the year, net of tax	1,368	685	(357)	5,856	1,341
10.	Paid up equity share capital (Face value Rs. 10/- each)	1,564	1,564	1,564	1,564	1,564
11.	Other equity excluding revaluation reserves as per balance sheet of previous accounting year				49,439	43,736
12.	Earnings per share - Basic (Rs.) (not annualised)	7.97	4.43	(2.25)	36.83	8.78
13.	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 the
Quarter and Year ended 31 March, 2021

	Particular	Quarter ended	Quarter ended	Quarter ended	Year	(Rs. in Lakhs) Year
		31.03.2021	31.12.2020		ended	ended
		(Audited)	(Unaudited)	31.03.2020 (Audited)	31.03.2021	31.03.2020 (Audited)
1.	Segment revenue	(See Note 4)	(See Note 6)	(See Note 4 and Note 61	(Audited)	(See Note 6)
a.	Building products
Iь.	Steel buildings	25,898 8,708	21,692	18,270	95,849	84,130
	Total revenue		6,165	10,697	25,475	44,245
		34,606	27,857	28,967	121,324	128,375
la.	2. Segment results Profit/(loss) before tax and finance costs from each segment Building products
Iь.	Steel buildings	3,758	3,267	274	15,433	5,048
Total		(505) 3,253	(956)	513	(1,866)	1,831
Less: н.	Finance costs		2,311	787	13,567	6,879
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. la.	Segment Assets Building products
b.	Steel buildings	47,910	50,772	54,479	47,910	54,479
c.	Unallocable	20,023	17,162	21,735	20,023	21,735
	Total assets	25,124 93,057	24,472	8,652	25,124	8,652
	Segment Liabilities		92,406	84,866	93,057	84,866
a.	Building products
b.	Steel buildings	16,342	17,303	13,830	16,342	13,830
c.	Unallocable	9,960	9,619	9,553	9,960	9,553
	Total liabilities	15,752 42,054	15,705	16,183	15,752	16,183
			42,627	39,566	42,054	39,566

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

NOTES:

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

	Particulars		(Rs. In Lakhs)
		As at 31.03.2021 (Audited)	As at 31,03,2020
			(Audited) (See Note 6)
Α.	ASSETS
	1. Non-current assets
	Property, plant and equipment
	Right to use Asset	34,521	35,150
	Capital work in progress	751	694
	Intangible Assets	1,342	2,061
	Financial assets	247	58
	(i) Investment
	(ii) Other financial assets
	Other Non current assets	5,505	1,515
		188	194
	Income tax assets (net)	1,839	3,091
	Total - Non-current assets	44,393	42,763
	2. Current assets
	Inventories	25,528
	Financial assets		31,066
	(i) Trade receivables (ii) Cash and cash equivalent	5,816	6,789
	(iii) Bank balances other than (ii) above	4,774	242
	(iv) Other financial assets	8,492	42
	Other current assets	356	424
	Total - Current assets	3,698	3,540
	TOTAL ASSETS	48,664	42,103
		93,057	84,866
В.	EQUITY AND LIABILITIES
	1. Equity
	Share Capital	1,564
	Other Equity	49,439	1,564 43,736
	Total-Equity
		51,003	45,300
	2 Non-current liabilities
	Financial Liabilities (i)
	Borrowings (ii) Lease liability		4,523
	Deferred tax liabilities (net)	427	480
		2,680	3,203
	Total - Non-current liabilities	3,107	8,206
	3. Current liabilities
	Financial Liabilities (i) Borrowings
	(ii) Lease liability		2,119
	(iii) Trade payables	404	262
	(a) total outstanding dues of micro enterprises and small
	enterprises	787	895
	(b) total outstanding dues of creditors other than micro
	enterprises and small enterprises	15,623	13,659
	(iv) Deposit from dealers	3,044
	(v) Other financial liabilities Provisions for retirement benefits	1,703	3,215
	Other current liabilities	485	1,858 536
	Provision for Income tax (net)	6,889	5,366
		10,012	3,450
	Total - Current liabilities	38,947	31,360
	TOTAL EQUITY AND LIABILITIES	93,057	84,866

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

$\overline{2}$ 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	3	37
	Provision for impairment of capital work in progress	360	233
	Provision for government subsidy	577	160
	Impairment of doubtful trade receivables	875	202
	Impact of fair valuation of financial instruments	(3)	44
	Re-measurement (loss)/gain of defined benefit plan	149	(49)
	Net unrealised (gain)/loss on exchange rate fluctuation		412
	Operating profit before working capital changes	13,547	5,428
	Working capital adjustments:
	Decrease in inventories
	(Increase)/decrease in trade receivables	5,538	1,825
	(Increase)/decrease in other non current financial assets	98 (55)	3,052
	(Increase)/decrease in other non current assets	31	(108)
	(Increase)/decrease in other current financial assets	67	(62)
	(Increase)/decrease other current asset	(159)	713
	Increase/(decrease) in trade payables	1,932	392 (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 Increase/(decrease) in provisions	1,523	(2,139)
	Cash generated from operations	(52)	(10)
	Income 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) 539	(3)
	Net cash flow used in investing activities	(13, 974)	346
			(2, 568)
c.	Cash flow used in financing activities
	Repayment of long-term borrowings	(5,042)	(692)
	Payment of financial Lease liability	(329)	(249)
	Proceeds/(repayment) of short-term borrowings Finance costs	(2, 119)	(1, 518)
	Dividends paid during the year	(284)	(708)
	Dividend distribution tax on dividend paid	(163)	(1, 173)
	Net cash flows used in financing activities		(241)
		(7,937)	(4,582)
	Net change in cash and cash equivalents (A)+(B)+(C)	4,532
	Cash and cash equivalents at the beginning of the year	242	(1, 561) 1,785
	Additions pursuant to Scheme of Amalgamation [Refer Note 6]		18
	Cash and cash equivalents at year end	4,774	747

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

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 and so more above the covenancing ngores between source ngures 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 percreat bumung subdiviris eminedy, being a transaction under 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

Report on the audit of the Consolidated Financial Results

Opinion

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

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements /financial information of the subsidiaries, the Statement:

i. includes the results of the following entities:
a) Everest Building Products, Mauritius
- b) Everest Ind FZE, UAE
ii. are presented in accordance with the requirements of the Listing Regulations in this regard; and
iii. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group 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), as 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 Consolidated Financial Results" section of our report. We are independent of the Group 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 and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation

Chartered Accountants

of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group 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. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group 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, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

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

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated 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 ability of the Group 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 Statement 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 Group 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 represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors 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.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

Other Matter

The accompanying Statement includes the audited financial results and other financial information, in respect of:

2 subsidiaries, whose financial results include total assets of Rs. 507.47 lacs as at March 31, 2021, total revenues of Rs. 160.77 lacs and Rs. 2,763 lacs, total net (loss) after tax of Rs. (24.11) lacs and Rs. (120.10) lacs, total comprehensive (loss) of Rs. (29.31) lacs and Rs. (116.40) lacs, for the quarter and the year ended on that date respectively, and net cash outflows of Rs. 50.79 lacs for the year ended March 31, 2021, as considered in the Statement which have been audited by their respective independent auditors.

The independent auditor's report on the financial results/financial information of these entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figures 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 end of 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 protected] Location: Gurugram Date: 2021.05.27 20:57:48 +05'30'

______________________________ SANJAY VIJ

per Sanjay Vij Partner Membership Number: 95169 UDIN: 21095169AAAABI4292 Place of Signature: Gurugram Date: May 27, 2021

EVEREST INDUSTRIES LIMITED
Tel +91 2557 250375/462, Fax +91 2557 250375/462, Fax +91 2557 250375/462, Fax +91 2557 250375/462, Fax +91 2
CIN No. L74999MH1934PLC002093
Statement of Audited Consolidated Financial Results for

SL.		Quarter				(Rs. in Lakhs)
No.	Particulars	ended	Quarter ended	Quarter	Period	Period
				ended	ended	ended

		31.03.2021	31.12.2020	31.03.2020	31.03.2021
		(Audited)	(Unaudited)	(Audited)		31.03.2020
		(See Note 4)		(See Note 4)	(Audited)	(Audited)
1.	Revenue from operations	34,767
2.	Other Income	231	27,991 185	29,046	121,792	128,541
3.	Total Income	34,998	28,176	118	888	945
4.				29,164	122,680	129,486
	Expenses
	a) Cost of raw materials consumed	19,237	16,230	17,450
	b) Purchase of traded goods	204	186	114	61,224	71,934
	c) (Increase)/ decrease in inventories of finished goods, work-in progress and traded goods				622	302
	d) Employee benefits expense	(631)	(1,708)	(1,048)	3,656	1,721
	e) Finance costs	2,557	2,671	2,403	10,961	11,652
	f) Depreciation and amortisation expense	103	61	155	390	704
	9) Other expenses	640	646	572	2,531	2,374
	Total expenses	10,592	9,177	10,014	34,132	38,711
		32,702	27,263	29,660	113,516	127,398
5.	Profit/(loss) before exceptional items and tax	2,296
6.	Exceptional item		913	(496)	9,164	2,088
7.	Profit/(loss) before tax	2,296
8.	Tax expense		913	(496)	9,164	2,088
	a) Current Tax	1,102	708
	b) Deferred Tax	(29)	(333)	(133)	4,100	420
	Total tax	1,073	375	(44)	(575)	316
9.	Profit/(loss) for the period	1,223	538	(177)	3,525	736
10.	Other comprehensive income			(319)	5,639	1,352
	Items that will not be reclassified subsequently to the statement
	of profit or loss
	(a) Re-measurement gains/(losses) on defined benefit plans	186	(12)	(8)	149
	(b) Income tax effect	(65)		4	(52)	(49)
11.	(c) Foreign currency translation reserve	(5)		(16)		17
12.	Total comprehensive income for the year, net of tax	1,339	533	(339)	5,740	(14)
	Paid up equity share capital (Face value Rs. 10/- each)	1,564	1,564	1,564	1,564	1,306 1,564
13.	Other equity excluding revaluation reserves as per balance sheet of previous accounting year
14.					49,285	43,699
15.	Eamings per share - Basic (Rs.) (not annualised)	7.82	3.44	(2.04)	36.06	8.65
	Earnings per share - diluted (Rs.) (not annualised)	7.82	3.44	(2.04)	36.06	8.65

Everest Technopolis, D-206, Sector-63,
Noida-201301, Uttar Pradesh, India T +91 120 4791800 | Helpline 1800 4191991 E [email protected] | www.everestind.com Registered Office: GAT No. 152, Lakhmapur, Taluka Dindori, Nashik-422 202, Maharashtra
T +91 2557 250375 / 462 | F +91 2557 250376
Corporate Identity No. L74999MH1934PLC002093

÷.


Quarter	Quarter	Quarter

EVEREST INDUSTRIES LIMITED
Consolidated Segment-Wise Revenue, Results, Assets and Liabilities for the
Quarter and Year ended 31 March, 2021

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

NOTES:

EVEREST INDUSTRIES LIMITED

.s.
Consolidated Balance sheet as at 31 March, 2021 $\mathbf 1$

	Particulars		(Rs. in Lakhs)
		As at 31.03.2021 (Audited)	As at 31.03.2020 (Audited)
Α.	ASSETS

	1. Non-current assets
	Property, plant and equipment	34,521
	Right to use Asset	751	35,150
	Capital work in progress	1,342	694
	Intangible Assets	247	2,061
	Financial assets		58
	(i) Other financial assets	5,505
	Other Non current assets	188	1,515
	Income tax assets (net)	1,839	194
	Total - Non-current assets		3,090
		44,393	42,762
	2. Current assets
	Inventories	25,535
	Financial assets (i) Trade receivables		31,066
	(ii) Cash and cash equivalent	5,693	6,729
	(iii) Bank balances other than (ii) above	4,783	302
	(iv) Other financial assets	8,492	42
	Other current assets	356 3,751	425
	Total - Current assets		3,556
		48,610	42,120
	TOTAL ASSETS	93,003	84,882
В.	EQUITY AND LIABILITIES
	1. Equity
	Share Capital
	Other Equity	1,564	1,564
	Total-Equity	49,285	43,699
		50,849	45,263
2	Non-current liabilities
	Financial Liabilities
	(i) Borrowings
	(ii) Finance lease Liability Deferred tax liabilities (net)	427	4,523 480
		2,680	3,203
	Total - Non-current liabilities
	3. Current liabilities	3,107	8,206
	Financial Liabilities
	(i) Borrowings
	(ii) Finance lease Liability		2,119
	(iii) Trade payables	404	262
	(a) total outstanding dues of micro enterprises and small enterprises
	(b) total outstanding dues of creditors other than micro	787	895
	enterprises and small enterprises	15,665
	(iv) Deposit from dealers		13,692
	(v) Other financial liabilities	3,044 1,703	3,215
	Provisions for retirement benefits Other current liabilities	485	1,858
	Provision for Income tax (net)	6,947	536 5,387
		10,012	3,450
	Total - Current liabilities	39,047
	TOTAL EQUITY AND LIABILITIES	93,003	31,414
			84,882

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

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED MARCH 31, 2021 $\overline{\mathbf{z}}$

	Particulars	Year ended	Year ended
		March 31, 2021 Rs. / Lakhs	March 31, 2020
	Cash flow from operating activities		Rs. / Lakhs
	Profit before tax	9,163	2,088
	Adjustments for:
	Depreciation and amortisation expenses	2,531	2,374
	Finance costs	390	704
	Interest income	(603)	(368)
	Loss on sale of property, plant and equipment assets (net)	58	55
	Liabilities / provisions no longer required written back	(75)	(485)
	Provision for impairment of CWIP Share based payment expense	360	160
	Provision for government subsidy	3	233
	Impairment of trade receivables	577
	Impact of fair valuation of financial instruments	1,052	201
	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		398
		13,606	5,356
	Working capital adjustments:
	Decrease in inventories	5,532	1,863
	(Increase)/decrease in trade receivables	(16)	2,996
	(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	66	713
	(Increase)/decrease other current Asset	(195)	394
	Increase/(decrease) in trade payables	1,941	(3, 344)
	Increase/(decrease) in deposits from delers	(171)	585
	Increase/(decrease) in other financial liabilities	431	(256)
	Increase/(decrease) in other current/ non current liabilities	1,561	(2, 132)
	Increase/(decrease) in provisions for retirement benefits	(52)	(10)
	Cash generated from operations	22,679	5,994
	Income tax paid	3,713	(434)
	Net cash generated from operating activities (A)	26,392	5,560
	B. Cash used in investing activities
	Capital expenditure on fixed assets, including capital advances	(1,665)	(2,931)
	Proceeds from sale of fixed assets	45	20
	- Investment in fixed deposits not considered as cash & cash equivalents Interest received	(12, 893)	(4)
	Net cash used in investing activities (B)	539	346
		(13, 974)	(2, 568)
c.	Cash used in financing activities
	Repayment of long-term borrowings	(5,042)	(692)
	Proceeds/(repayment) of short-term borrowings	(2, 119)	(1, 518)
	Payment of financial Lease liability	(329)	(249)
	Finance costs	(284)	(708)
	Dividend paid during the year	(163)	(1, 173)
	Dividend distribution tax on dividend paid		(241)
	Net cash used in financing activities (C)	(7,937)	(4,582)
	Net increase/(decrease) in cash and cash equivalents (A)+(B)+(C)	4,481	(1, 591)
	Cash and cash equivalents at the beginning of the year	302	1,893
	Cash and cash equivalents at period end	4,783	302

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

everest

NOTES:

The above Consolidated 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 C $\overline{3}$ . Requirements) Regulations, 2015.

The figures for the quarters ended 31 March 2021 and 31 March 2020 are the balancing figures between audited figures in respect of $\overline{4}$ the full financial year and the published unaudited year to date figures upto the third quarter of the respective financial year.
The Group has considered the possible effects that may result from the global health pandemic relating to COVID-19 on its $\overline{\mathbf{5}}$ operations. Management believes that it has taken into account external and internal information 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 Group will continue to monitor any material changes to future economic conditions and the consequent impact on its business, if any,
On March 25, 2021 the Holding company filed with Registrar of Companies the certified copy of NCLT order approving the 6. amalgamation of the Holding company and its wholly owned subsidiary (Everest Building Solutions Limited). Being a transaction under Common control Business combination, financial information as on April 01, 2019 and all periods thereafter, were restated to give effect of the amalgamation.
The Board of Directors has recommended a dividend @ 75 % (Rs.7.50 /-per share) for the Financial Year 2020-21 subject to $\overline{7}$ shareholders' approval.
The previous period and year figures have been regrouped/ reclassified wherever necessary. R.

For and on behalf of the Board of Directors

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

Raiesh Joshi Managing Director and CEO

Place: Date:

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

EVEREST INDUSTRIES LIMITED
Registered Office: Gat No. 152, Lakhmapur, Taluka Dindori Nashik-422202 (Maharashtra)
Tel +91 2557 250375/462, Fax +91 2557 250376, [email protected], www.everestind.com
CIN No. L74999

Extract of Statement of Audited Financial Results for the Quarter and year ended 31 March, 2021

			Standalone
		3 months	Corresponding			Consolidated
lsL.	Particulars	ended	3 months	Year ended	3 months	Corresponding	Year
lNo.					ended	3 months	ended
			ended in the			ended in the
		31.03.2021	previous year			previous year
			31.03.2020		31.03.2021 31.03.2021	31.03.2020	31.03.2021
		(Audited)	(Audited)	(Audited)	(Audited)	(Audited)	(Audited)

1.	Total Revenue from operations	34,606	28,967	121,324	34,767	29,046	121,792
2.	Net Profit/(loss) for the period before tax, exceptional items
		2,320	(530)	9,284	2,296	(496)	9,164

3.	Net Profit/(loss) for the period before tax, after exceptional items	2,320	(530)	9,284	2,296	(496)	9,164

4.	Net Profit/(loss) for the period after tax, after exceptional items	1,247	(352)	5,759	1,223
5.						(319)	5,639
	Total comprehensive income for the period (after tax)	1,368	(357)	5,856	1,339	(339)	5,740
6.	Equity Share Capital	1,564	1,564	1,564
					1,564	1,564	1,564
7.	Reserves (excluding revaluation reserves as shown in the balance sheet of previous year)
				49,439			49,285
8.	Earnings per share - Basic (Rs.) (not annualised)	7.97	(2.25)	36.83
					7.82	(2.04)	36.06
9.	Earnings per share - diluted (Rs.) (not annualised)	7.97	(2.25)	36.83	7.82	(2.04)	36.06

NOTE:

The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other
Disclosure Requirements) Regulations, 2015. The full format of

For and on behalf of the Board of Directors

Rajesh $\overline{\text{Rajesh}}$ Rajesh Arvind Joshi
Arvind Joshi Date: 2021.05.27 20:25:21 +05'30 Rajesh Joshi

Managing Director and CEO

Place: Mumbai
Date: 27 May, 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

AI assistant

Everest Industries Ltd. Audit Report / Information 2021

60929_rns_2021-05-27_ac694c3f-ad45-44ec-809b-fc9676eac932.pdf

Sub.: Outcome of the Board Meeting and Financial Results

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

Report on the audit of the Standalone Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Standalone Financial Results

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

Other Matter

NOTES:

NOTES:

For and on behalf of the Board of Directors

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

Report on the audit of the Consolidated Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Consolidated Financial Results

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

Other Matter

NOTES:

EVEREST INDUSTRIES LIMITED

everest

NOTES:

Extract of Statement of Audited Financial Results for the Quarter and year ended 31 March, 2021

Managing Director and CEO

AI assistant

Everest Industries Ltd. — Audit Report / Information 2021

60929_rns_2021-05-27_ac694c3f-ad45-44ec-809b-fc9676eac932.pdf

Sub.: Outcome of the Board Meeting and Financial Results

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

Report on the audit of the Standalone Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Standalone Financial Results

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

Other Matter

NOTES:

NOTES:

For and on behalf of the Board of Directors

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

Report on the audit of the Consolidated Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Consolidated Financial Results

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

Other Matter

NOTES:

EVEREST INDUSTRIES LIMITED

everest

NOTES:

Extract of Statement of Audited Financial Results for the Quarter and year ended 31 March, 2021

Managing Director and CEO

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