Everest profit gets ₹96 cr property boost, but core revenue still shrinking
The June quarter profit of ₹107.72 crore is almost entirely from selling the Podanur land. Without it, Everest would have posted an operating profit of ₹37 crore, a turnaround from the March loss.
— 4 earlier stories on Everest Industries Ltd. →What's new
- Net profit at ₹107.72 cr in June quarter, but ₹96.15 cr is from selling Podanur property.
- Revenue fell 14% YoY to ₹418.70 cr, marking the fourth straight quarterly decline.
- Operating profit before exceptional items swung to ₹37.11 cr from a ₹34.45 cr loss in March.
Why this matters
The reported profit masks a struggling core business. Revenue is still shrinking, and the company had just scrapped two major capex plans totalling ₹263 cr. The property sale gives a cushion, but it's one-time. The real test is whether the operating turnaround can sustain without exceptional gains.
What we're watching
- Whether revenue stabilises in coming quarters — FY26 revenue dropped 21%.
- Any update on the cancelled capex plans and future growth strategy.
- If operating profit can sustain without exceptional gains.
The full read
Everest Industries reported a net profit of ₹107.72 crore for the June quarter — its first profit in three quarters. But ₹96.15 crore of that comes from selling the Podanur property, a one-time gain. Strip it out, and the operating profit is ₹37.11 crore, a turnaround from the ₹34.45 crore loss in March. The top line tells a different story: revenue fell 14% year-on-year to ₹418.70 crore, extending a slide that saw full-year FY26 revenue drop 21%. The operating improvement is welcome, but it follows a string of bad quarters and a ₹100 crore FY26 loss. Add in the two capex cancellations worth ₹263 crore in July, and the picture is of a company selling assets to prop up a shrinking core. One quarter of operating profit does not make a recovery. The top line needs to stabilise first.
Questions answered
- How much of the profit was from the property sale?
- The ₹107.72 crore net profit includes a ₹96.15 crore exceptional gain from selling the Podanur property. Excluding that, the company's operating profit was just ₹37.11 crore.
- How did the core business perform in the June quarter?
- Revenue from operations fell 14% year-on-year to ₹418.70 crore. However, operating profit before exceptional items turned positive at ₹37.11 crore from a loss of ₹34.45 crore in the March quarter.
- Why did Everest sell the property?
- The filing does not provide the rationale, but the sale helped the company report a profit after a ₹47 crore loss in the March quarter and a ₹100 crore loss for FY26.
- What is the company's market cap and how does this profit compare?
- Everest's market cap is ₹732 crore. The reported profit of ₹107.72 crore is about 15% of market cap, but almost all of it is from the one-time property sale.
- What does this mean for the company's capex plans?
- In July 2026, Everest scrapped two capex plans worth ₹138 crore and ₹125 crore. The property sale may provide short-term cash, but the cancellations suggest management is cautious on growth.
Everest Industries Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on EVERESTIND →- 27 Jul 2026 · 8:00 PM IST Everest profit gets ₹96 cr property boost, but core revenue still shrinking
- today Everest gets ₹96 cr property windfall, but core revenue still shrinks
- 24d ago Everest Industries scraps ₹138 cr Assam plant amid losses
- 24d ago Everest Industries pulls ₹125 cr steel plant, second capex cancellation in days
- 62d ago Everest Industries swings to a ₹100 cr loss as revenue drops 21%