General Updates

September 25, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra – Kurla Complex Dalal Street, Mumbai – 400 001. Bandra (E), Mumbai – 400 051 Scrip Code: 508906 Scrip Code: EVERESTIND Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”) – Receipt of Show Cause Notice from GST Department Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we would like to inform the exchanges that the Company has received show cause notice (DRC 01) from the “Deputy Commissioner of State Tax, AMBAD_502, Nashik, Maharashtra- 422010, under Section 73(1) of the CGST Act, 2017 & MGST Act, 2017 on September 24, 2026 at 17:36 hrs. (IST). The details as required under Listing Regulations read with SEBI Master Circular is enclosed herewith as an “Annexure-A”. This is for your information and records. Thanking you, Yours faithfully, For Everest Industries Limited Amruta Avasare Company Secretary & Compliance Officer Encl.: A/a Everest Industries Limited Registered Office: GAT No. 152, Lakhmapur, Everest Industries Limited Level 3, Tower 14, Solitaire Corporate Park, Chakala Taluka Dindori, Nashik-422 202, Maharashtra Andheri (E), Mumbai - 400093, India T +91 2557 250375 / 462 | F +91 2557 250376 Board No - 02269772000 Corporate IdentityNoL74999MH1934PLC002093 Annexure A Sr. No. Particulars Details/Information 1. Brief details of Opposing Party: The State Goods and Services Tax (SGST) litigation viz. name(s) of Department, Government of India the opposing party, Agency/Tribunal: Deputy Commissioner of State Tax, court/ AMBAD_502, Nashik, Maharashtra-422010. tribunal/agency where litigation is filed, brief Dispute/Litigation: The Show Cause Notice raises the details of following major concerns: dispute/litigation. a) Excess ITC availed in GSTR 3B than available in GSTR 2B/2A b) Short liability declared in GSTR 3B/GSTR 9 compared to liability shown in GSTR 1. c) Outward Tax liability discharge in GSTR 3B / GSTR 9 is less than outward tax liability as per E-way bill generated. The GST Department has raised objections as stated above for the financial Year 2022-23, amounting to Rs. Total demand Rs. 13,34,35,202/- (Tax-Rs. 7,32,16,851/- + Interest Rs. 5,28,96,667/- + Penalty Rs. 73,21,684/-) under Section 73(1) of CGST & MGST Act, 2017. 2. Expected financial The GST Department has proposed to recover the amount of implications, if any, INR 13,34,35,202/-under Section 73(1) of CGST & MGST Act, due to compensation, 2017. penalty etc.; Since it is only a SCN at this stage, and the Company firmly believes that it maintains strong legal and factual grounds in this matter and will be taking all necessary actions to present and defend its case before the relevant authorities and address the demand, there is no expected material financial impact. The Company is in the process of preparing a response to the Show Cause Notice. The Company does not consider it likely that this potential demand will materialize as a claim against the Company and result in liability. 3. Quantum of claims, if The claim is raised for INR 13,34,35,202/-Under Section 73(1) any; of CGST & MGST Act, 2017. Everest Industries Limited Registered Office: GAT No. 152, Lakhmapur, Everest Industries Limited Level 3, Tower 14, Solitaire Corporate Park, Chakala Taluka Dindori, Nashik-422 202, Maharashtra Andheri (E), Mumbai - 400093, India T +91 2557 250375 / 462 | F +91 2557 250376 Board No - 02269772000 Corporate IdentityNoL74999MH1934PLC002093