Everest Kanto Cylinder Ltd

AGM Details

• Date/time/mode: 29 Sep 2026, 4:00 PM, VC/OAVM.
• Mode: Video Conference and Other Audio-Visual Means.

Key Resolutions

• Adopt Audited Financial Statements (Standalone and Consolidated) for 2026.
• Declare final dividend of Rs 0.70 per equity share.
• Reappoint Pushkar Khurana as director on rotation.
• Appoint Sanjiv Kapur as Non-Executive Director from 1 Nov 2026.
• Approve payment of commission to Non-Executive Directors.
• Ratify remuneration of Cost Auditors for FY2027.

Voting Results

• Resolution 1: Passed with very high in-favour (~99.99%).
• Resolution 2: Passed with in-favour ~99.96%.
• Resolution 3: Passed with in-favour ~99.99%.
• Resolution 4: Passed with in-favour ~99.96%.
• Resolution 5: Passed with in-favour ~99.96%.
• Resolution 6: Passed with in-favour ~99.99%.

Dividend

• Final dividend approved: Rs 0.70 per equity share.

Director Changes

• Reappointment: Pushkar Khurana (rotating).
• Appointment: Sanjiv Kapur as Non-Executive Director, effective 1 Nov 2026.

Auditor Appointments

• Cost Auditor remuneration ratified for FY2027.

Material Related Party Transactions

• No material related party transactions disclosed.

Other Material Approvals

• No other material approvals reported.

AGM details

• AGM held on 29 September 2026 at 4:00 PM via VC/OAVM.

Key resolutions

• Ordinary: Adopt audited financial statements for year ended 31 March 2026.
• Ordinary: Final dividend of 0.70 per equity share for year ended 31 March 2026.
• Ordinary: Reappointment of Pushkar Khurana who retires by rotation.
• Special: Appoint Sanjiv Kapur as Non-Executive Director.
• Ordinary: Approve commission to Non-Executive Directors.
• Ordinary: Ratify remuneration payable to Cost Auditors for FY 2027.

Voting status

• All resolutions approved by Members with requisite majority; exact percentages not disclosed.
• Results to be declared within 2 working days after the AGM.

Key Update

• EKC Egypt S.A.E has completed the Egypt facility setup and commenced commercial production.

Everest Kanto Cylinder Ltd - Trading Window Closure from October 1, 2026 until 48 hours after declaration of Unaudited Financial Results for the quarter and half year ending September 30, 2026

Instruments / Ratings

• Long-term bank facilities: CARE A-; Stable; rating reaffirmed.
• Short-term bank facilities: CARE A2+; rating reaffirmed.

Rationale & Drivers

• FY26 TOI broadly stable at ₹1,470.6 crore.
• PBILDT margin improved to 14.04%; Q1FY27 margin 13.68%.
• Overseas operations affected by West Asia conflict; supply chains and freight costs.
• Capex expansions in Mundra, Egypt, and US; timely ramp-up crucial.
• GST-related contingent liabilities expected to be resolved soon; outcome monitorable.
• Debt profile comfortable; gearing 0.19x; TD/PBILDT 1.29x; interest coverage 12.11x.
• Liquidity adequate; accrual cushion ₹145-160 crore versus ₹15-60 crore repayments.
• Free cash ₹71 crore; investments ₹62 crore; fund-based utilization ~70%.
• Top ten customers ~45% of TOI; diversified client base.

Outlook

• Outlook: Stable.

Risks / Sensitivities

• Positive: TOI above ₹2,000 crore with PBILDT margin sustained.
• Positive: working capital cycle below 150 days.
• Negative: TOI decline with PBILDT <10% sustained.
• Negative: TD/PBILDT >2.25x sustained.
• Negative: delays in capex benefits.

Material Changes vs Last Rating

• Reaffirmation; outlook unchanged at Stable.

Consolidated Financials

• Consolidated FY26 TOI ₹1,470.6 crore; PBILDT ₹206.5 crore; PAT ₹146.7 crore; gearing 0.19x.

HR Head cessation

• Amitkumar C Choksi, HR Head: discontinuation of services; relieved Sept 22, 2026; reason: performance assessment during probation.

Overview

• Standalone BRSR FY2025-26 for Everest Kanto Cylinder Ltd, metal and metal products manufacturer.
• 96% turnover from metal and metal products; exports ~1%.
• Reporting boundary: standalone; 3 national plants, 1 national office, 4 international plants.
• Permanent staff: 408 male, 7 female; workers: 418 male, 0 female.
• LTIFR: employees 0; workers 0.40; no fatalities.

Key ESG Risks & Opportunities

• GHG emissions risk rises with capacity expansion; mitigated by efficient systems and new technology; negative financial implications.
• Water management risk from finite resources; plan to reduce raw water use; neutral financial implications.
• Energy management opportunity via solar and LEDs; long-term cost savings expected.
• CSR initiatives build community goodwill with expected long-term financial benefits.
• Human rights risk from evolving regulations; potential reputational harm.
• Employee health and safety risk; ongoing safety programs; neutral near-term.
• Governance provides leadership support; enables strategy; positive financial impact.
• Consumer welfare: strong market connections may boost product sales.

Governance & Policy Highlights

• MD oversees BRSR initiatives; board-approved governance.
• Policies include Code of Conduct for Directors/Senior Management; Ethics policy.
• No external assurance; assurance provider None.
• Policies cover nine NGRBC principles; translated into procedures and extended to value chain.
• No penalties or fines reported for FY2025-26.
• Policy web links provided in investors portal.
• Highest authority: MD; sustainability oversight by committee.
• Review frequency: half-yearly; independent assessments: none.

Social Responsibility & Workforce

• Permanent staff: 408 male, 7 female; workers: 418 male, 0 female.
• Board female representation: 1 of 7 (14%).
• LTIFR: employees 0; workers 0.40; no fatalities.
• Well-being spend: 0.05% of revenue; whistle-blower policy and grievance mechanism.
• Union membership: permanent workers 321 of 418 (77%).
• Training: BoD 5 programs; KMP 8; employees 75% coverage; workers 75%.
• Return to work/retention after parental leave: 100%.
• Premises accessible to differently abled; ramps and elevators.

Environmental Performance

• Total energy: 360,395 units; renewable 4,245; non-renewable 356,150.
• Scope 1: 682; Scope 2: 51,614; total 52,296 tCO2e; intensity 56 per crore turnover.
• Scope 3: 531 tCO2e; intensity 0.57 per crore turnover.
• Water withdrawal: 68,746 kl; surface 19,466; third party 49,280; water intensity 76.
• Hazardous waste: 3 tonnes; non-hazardous scrap recycled; no plastics/e-waste.
• Zero Liquid Discharge implemented at multiple units; wastewater recycled.
• Certifications: ISO 9001:2015; IATF 16949; external audits.
• Renewable energy investments; solar panels at facilities.

Stakeholder Engagement & Complaints

• Stakeholders: investors, regulators, suppliers, NGOs, community, customer B2B, employees, senior leadership.
• Engagement channels: investor conferences, reports, meetings; regulators in person; suppliers/NGOs ongoing.
• No unresolved complaints; internal grievance mechanism in place.
• Data privacy policy on website; no breaches in FY2025-26.
• Related party transactions: purchases 0.2%; sales 0.4%.

Other Notable Metrics

• MSME direct supplier share: 1% of inputs.
• Cyber security policy and data privacy policy available online.
• Product information displayed on labels and website; five-day complaint resolution target.
• No product recalls in FY2025-26.

AGM details

• AGM on Sept 29, 2026 at 4:00 PM via VC/OAVM.
• Record date: Sept 18, 2026.
• Register and Share Transfer closure: Sept 21–Sept 29, 2026.

Resolutions

• Ordinary: Adopt standalone financial statements for FY2025-26.
• Ordinary: Adopt consolidated financial statements for FY2025-26.
• Ordinary: Final dividend of 0.70 per share (35%).
• Ordinary: Reappointment of Pushkar Khurana as Director (retiring by rotation).
• Special: Appoint Sanjiv Kapur as Non-Executive Director.
• Ordinary: Commission to Non-Executive Directors up to 6 lakh per director.
• Ordinary: Ratify Cost Auditor remuneration for FY2026-27: ₹2.50 lakh plus tax.

Director changes

• Pushkar Khurana retires by rotation; reappointment proposed.
• Sanjiv Kapur appointed as Non-Executive Director, effective Nov 1, 2026.

Auditors and cost

• Cost Auditor remuneration ratified for FY2026-27: ₹2.50 lakh plus tax.

Dividend and record-keeping

• Final dividend of ₹0.70 per equity share (35%).
• Record date: Sept 18, 2026; payout after Oct 5, 2026, if approved.

Voting window and conduct

• Remote e-voting period: Sept 24–Sept 28, 2026.
• AGM to be attended via VC/OAVM with electronic voting during meeting available.

Book closure and AGM details

• Book closure for Equity Shares from 21 Sep 2026 to 29 Sep 2026 inclusive for AGM and dividend.
• AGM date scheduled for 29 Sep 2024 at 4:00 p.m. IST via VC/OAVM.
• Cut-off date for remote e-voting: 18 Sep 2026, with eligibility for voting.
• Record date for dividend entitlement: 18 Sep 2026.
• Dividend proposed at 35% (₹0.70 per ₹2 share) for FY2025-26, subject to member approval.
• Dividend payment date, if declared: on or after 5 Oct 2026 (TDS as applicable).
• Security affected: Equity Shares.