The Board of Directors of Everest Industries Limited meeting held on February 20, 2023, approved CAPEX of INR 1,250 million to set up a new manufacturing facility for ESBS through a wholly owned subsidiary or by the Company at Gudipalli, Andhra Pradesh or any other appropriate location in South India, subject to the receipt of requisite approvals. The said CAPEX would enhance the existing capacity of 72,000 MTPA to 114,000 MTPA for ESBS Division. It is expected that said CAPEX would be operational by March 31, 2024.