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Everest Kanto Reshapes European Strategy: EKC FZE Exits Hungary Plans, Divests Stake in EKC Europe ZRT

Updated: July 16, 2025 12:52

Image Source: EVEREST KANTO CYLINDER LIMITED
Everest Kanto Cylinder Ltd (EKC), through its UAE-based subsidiary EKC International FZE, has announced two major strategic decisions affecting its European operations. The company will halt its proposed manufacturing facility in Hungary and divest its stake in EKC Europe ZRT, signaling a recalibration of its global footprint amid evolving market dynamics.
 
Key Highlights:
  • EKC FZE will sell its entire stake in EKC Europe ZRT, a Hungary-based subsidiary focused on high-pressure gas cylinder manufacturing.
  • The decision to halt the Hungary plant comes after a comprehensive feasibility review, citing regulatory delays, cost escalations, and shifting demand patterns.
  • EKC Europe ZRT was originally envisioned as a gateway to the EU market, with proximity to automotive and industrial hubs.
Strategic Context:
  • EKC will now prioritize capacity expansion in India and the UAE, where demand for CNG and hydrogen cylinders remains robust.
  • The company recently completed Phase I of its Mundra specialty chemicals facility and is scaling up green energy solutions.
  • EKC’s exit from Hungary is expected to streamline operations and reduce overhead, aligning with its asset-light strategy.
Market Outlook:
  • Analysts view the move as a prudent reallocation of capital, especially given EKC’s strong domestic order book and export traction in the Middle East and Southeast Asia.
  • The company maintains a market cap of ₹1,568 crore and a P/E ratio of 16.01, with promoter holding steady at 67.38 percent.
Sources: Moneycontrol, Screener.in, Everest Kanto Corporate Filings, Reuters, Economic Times (July 2025)

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