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).
Hemant Khurana will assume the role of Managing Director & Chief Executive Officer for a term of three consecutive years, from September 13, 2025, to September 12, 2028.
Remuneration Structure: He will receive a one-time signing bonus of Rs50.00 lakhs, payable with the first month's salary. This bonus is subject to continued employment for one year. His annual fixed compensation is Rs3.00 crores, broken down as follows:
- Base Salary: Rs1.05 crores
- Allowances: Rs1.77 crores
- Retirals (PF and gratuity): Rs17.65 lakhs
In addition, the MD & CEO shall be entitled to variable compensation during the term, which shall be performance-based. The two performance parameters are Revenue Growth and Return on Capital Employed (ROCE). 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 also grant Khurana 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.
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 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 Hemant Khurana shall be available for electronic inspection without any fee by the members on the basis of the request being sent to compofficer@everestind.com.
The Board has recommended the Special Resolution for approval by the members of the company.
