Everest Industries Limited at its board meeting held on February 7, 2023, has approved CAPEX of INR 187 Crores to set up a new Boards and Panels plant through a wholly owned subsidiary or by the Company at KIADB Industrial Area at Chamarajanagar District, Karnataka (instead of Immavu Industrial Area, Mysuru District, Karnataka) subject to the receipt of requisite approvals. The said CAPEX would enhance the existing capacity of 210,000 MTPA to 301,000 MTPA for Boards and Panels. It is expected that said CAPEX would be operational by June 30, 2024.