Everest Industries Appoints Hemant Khurana as MD & CEO, Effective Sep 13

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26 Aug, 2025 12:21

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The Board of Directors of Everest Industries Limited has approved the appointment of Mr. Hemant Khurana as the Managing Director and Chief Executive Officer of the company, effective September 13, 2025. The decision was made at a board meeting held on August 4, 2025, based on the recommendation of the Nomination and Remuneration Committee (NRC).

Appointment Details:

• Name: Mr. Hemant Khurana
• Designation: Managing Director & Chief Executive Officer
• Effective Date: September 13, 2025
• Term: Three consecutive years, from September 13, 2025, to September 12, 2028

Remuneration:

• One-time Signing Bonus: ₹50.00 Lakhs, to be paid along with the first month's salary. This bonus is subject to continued employment for one year.
• Annual Fixed Compensation: ₹3.00 Crores. The breakup is as follows:
  • Base Salary: ₹1.05 Crores
  • Allowances: ₹1.77 Crores
  • Retirals (PF and gratuity): ₹17.65 Lakhs

• Variable Compensation: The MD & CEO shall be entitled to variable compensation during the Term which shall be performance based i.e. where the two performance parameters shall be Revenue Growth and Return on Capital Employed (ROCE)

Variable Compensation Targets:

The amount of variable compensation for each Financial Year will depend on whether the performance parameters have been achieved with respect to that Financial Year.

Other Benefits:

• Reimbursement of expenses, Company Car and Driver, Club membership and Insurance will be provided as per company policy.
• The Company shall grant to the MD & CEO 30,000 employee stock options in the financial year ending March 31, 2026 in accordance with the prevailing employee stock option scheme of the Company.

The Board has recommended the Special Resolution for approval by the members of the Company.

About Hemant Khurana:

Mr. Hemant Khurana is an alumnus of Delhi College of Engineering and IIM Kolkata, bringing over 28 years of experience. Previously, he served as Managing Director at Saint Gobain Weber and has a diverse background in building materials and the construction industry.

The Board believes that Mr. Khurana is the right leader to drive Everest's vision forward.

Additional Approvals:

The appointment and remuneration are subject to the approval of the members and are as per the Nomination and Remuneration Policy of the Company.

The Employment agreement between the Company and Mr. Hemant Khurana shall be available for electronic inspection without any fee by the members on the basis of the request being sent on compofficer@everestind.com.

The Board has recommended the Special Resolution for approval by the members of the Company.