Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q2 FY2021 Earnings Presentation
45 slides from Borosil Renewables's earnings presentation, Oct 20, 2020
Slide 1: Borosil Renewables Limited
BOROSIL | Borosil Renewables Limited | (Formerly Borosil Glass Works Led. in which Gujarat Borosil Ltd. has amalgamated) | CIN: L26100MH1962PLC012538 x renewables Regd. Office : 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex | Bandra (E), Mumbai - 400 051, India. | T : +9122 6740 6300
Slide 2: Financial Performance during the quarter ended 30th September 2020
BOROSIL “renewables - BOROSIL _ Tenewables — IUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY IN INDIA Borosil Renewables Ltd.: Financial Performance during the quarter ended on 30th September 2020
Slide 3: Disclaimer
Disclaimer “This investor presentation has been prepared by Borosil Renewables Limited (“Borosil”) on a strictly confidential basis. Certain statements in this presentation may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward looking statements ref
Slide 4: Key Abbreviations
Key Abbreviations ADD : Anti-dumping Duty NSM : National Solar Mission FY : Financial Year ending 31st March ARC : Anti-Reflective Coating OEE : Overall Equipment Effectiveness GBL : Gujarat Borosil Limited AS : Anti-soiling PA : Per Annum GW : Gigawatt BCD : Basic Custom Duty PAT : Profit after tax
Slide 5: Agenda
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 6: Indian solar Industry Overview
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 7: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables Out of total installed power generation capacity of 374 GW as of Jun’20 in India, renewables form around 24% (90 GW) of which solar (37 GW) is about 40% of the renewable capacity Government of India has a target to install 175 GW of Renewable Energy
Slide 8: Indian solar Industry: Growth Drivers and enablers
Indian solar Industry: Growth Drivers and enablers National Solar Mission • Targets 100 GW of Installed Capacity by 2022 which is targeted to grow to 300 GW by 2030 SECI Tenders • Tenders by SECI for large ISTS connected projects assuring offtake and payment security to the project developers Kusum
Slide 9: Indian solar Industry: On the way to 300 GW
Indian solar Industry: On the way to 300 GW Growth of Installed solar Capacity in India On the way to be 300 GW solar by 2030 (GW) 37 35 2 37 Installed (Jun-20) 28 22 6 42 Under development 7 12 7 9 In Bidding 4 6 1 3 34 Future Potential FY15 FY16 FY17 FY18 FY19 FY20 Q1 FY21 187 Ref: MERCOM Q2 2020
Slide 10: Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing
Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing India has around 11 GW of solar module manufacturing capacity as of Jun’20 Due to stiff competition from low-priced imports, the actual Domestic Manufacturing is about 4 GW However, this trend is expected to chan
Slide 11: Solar PV Value Chain
Solar PV Value Chain Polysilicon EVA Operation & Backsheet Maintenance Services Ingots Solar Plant developer/ IPP Engineering, Procurement & Commissioning services Solar Cells Wafers Solar Cell manufacturing Process Solar Glass Power Offtaker Junction Box 10 Components of Solar Module Equipment used
Slide 12: Solar Glass – A critical component in Solar PV value chain
Solar Glass – A critical component in Solar PV value chain Components of Solar Modules Components of Solar Module andandtheir pricing Overheads other fixed costs, Other components 10% Aluminium Frame and concumables, 5% Junction Box, 4% Front Glass Backsheet, 5% EVA Solar Cell, 48% Solar Cells EVA,
Slide 13: Solar Glass: Competitive Landscape
Solar Glass: Competitive Landscape Presently Indian solar industry is heavily dependant on imports of solar cells, solar modules as well as solar glass Solar PV Modules With creation of enabling policy framework as a result of “Aatmanirbhar Bharat Abhiyan”, the share of domestic manufacturing of
Slide 14: Introduction to Borosil Group
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 15: The BOROSIL Group: Leadership Guiding Consistent Growth
The BOROSIL Group: Leadership Guiding Consistent Growth The Borosil group: From Consumer products to Solar glass Consumer Products Scientific, Industrial & Laboratory Pharmaceutical Glassware and instruments High Performance Packaging Solar Glass Borosil Group - Net Sales (in USD Mn) Borosil Ltd. 12
Slide 16: Borosil Renewables: A Growth Story
Borosil Renewables: A Growth Story CPSU/KUSUM schemes, “Aatmanirbhar India imposes Anti- domestic manufacturing Bharat”. Focus on Dumping Duty on Anti dumping linked solar projects manufacturing in India Chinese imports to margin of 40% is promote domestic established against The Solar Gla
Slide 17: Borosil Renewables' Bharuch Factory
Borosil Renewables' Bharuch Factory 16
Slide 18: Borosil Renewables Limited
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain Solar Glass manufacturing - Competit
Slide 19: Product Portfolio
Product Portfolio Market Segments Glass Composition Addition of Value Borosil Solar Glass with low added products High Performance Solar Glass for Antimony content Utility scale ground solar PV Shakti : High Efficiency Matt – No Era: Borosil Solar Glass High Performance Green House – wit
Slide 20: USPs of Borosil Solar Glass and Superior Performance
USPs of Borosil Solar Glass and Superior Performance ENGINEERED FOR LONG TERM DURABILITY HIGHER TRANSMISSION • Low sodium. Low PID (Potential Induced Degradation) • High chemical durability: superior glass performance • Very High hydrolytic resistance ENHANCED MECHANICAL STRENGTH BOROSIL’S FULLY TEM
Slide 21: Innovation by Borosil in Solar Glass (1/3)
Innovation by Borosil in Solar Glass (1/3) Fully tempered 2 mm Solar Glass Shakti World’s 1st fully tempered thinnest Solar Glass for versatility and longevity Matt-Matt finish Glass Selene Reduces the overall weight of the Higher module output of up to 0.5 % Anti-glare Solar glass for solar PV,
Slide 22: Innovation by Borosil in Solar Glass (2/3)
Innovation by Borosil in Solar Glass (2/3) Antimony-free Solar Glass No Era: World’s only manufacturer of Antimony Free Solar Glass for safer, sustainable and truly environment friendly applications The performance of No Era was compared with that of a leading European solar glass supplier at Boro
Slide 23: Innovation by Borosil in Solar Glass (3/3)
Innovation by Borosil in Solar Glass (3/3) Fully Tempered Thinner Solar Glass up to 2 mm Growth of Glass-Glass modules Thickness of front glass in future Solar PV market is moving towards • Bifacial modules • Glass to glass modules • Frameless modules In order to achieve the optimum module weight, t
Slide 24: Innovations in Manufacturing Process and supply chain
Innovations in Manufacturing Process and supply chain Cost Deploys process for using sand as major input instead of quartz to produce high grade low iron solar glass at lower cost, taking Reduction into consideration low availability of quartz and increasing mining restrictions on quartz processin
Slide 25: Best-in-class Manufacturing Equipment
Best-in-class Manufacturing Equipment for the Best-in-Class Products ANNEALING LEHR (BELGIUM) PRECISION CUTTING LINE (GERMANY) HIGH QUALITY GLASS WASHING AR COATING PROCESS IN A CLEAN ROOM GLASS TRANSMITTANCE CHECK (USA) AUTOMATIC GLASS LOADING (GERMANY) 24
Slide 26: Next Generation Tempering Line
Next Generation Tempering Line Trend setting European technology that fully tempers glass which floats on an air cushion 25
Slide 27: Domestic and International Customer base
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 28: A Strong Domestic and International Presence
Borosil Renewables Ltd.: A Strong Domestic and International Presence A Global Presence with products matching international standards and quality requirements with 18-20% of revenue coming from exports Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantities
Slide 29: Focus on Quality and Certifications
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 30: Key Credentials and Certificates
Key Credentials and Certificates ISO 9001:2015 Manufacturing Facility Accredited by TÜV Rheinland: ISO 14001: 20015 ISO 45001:2018 EN 12150-1 for 3.2 mm, 4mm textured tempered Solar Glass EN 572-9 for 3.2 mm Solar Glass EN 410 for 3.2 mm Solar Glass EN 12600 for 3.2mm Drop Pendulum Tes
Slide 31: Quality Assurance
Quality Assurance Quality Control & Quality Assurance Measures Customized packing standard Quality Control & Quality Assurance measures END CAP PALLET with an emphasis on continual improvement Implemented 5S training program in various work areas to improve cleanliness Implementing Cp / CpK an
Slide 32: Financials
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain Solar Glass manufacturing - Competit
Slide 33: Quarterly Financial Performance
Quarterly Financial Performance All values in INR Cr. Growth % Key Parameters Q2 FY21 Q1 FY21 Q4 FY20 Q2 FY20 H1 FY21 H1 FY20 H1 FY21 over H1 FY 20 Revenue 114.09 54.07 94.26 57.90 168.16 101.72 65% EBITDA 32.39 10.08 21.19 4.98 42.47 8.68 390% EBITDA % 28.4% 18.6% 22.5% 8.6% 25.3% 8.5% Interest 1.9
Slide 34: Quarterly Financial Performance
Quarterly Financial Performance Q4 FY20 was the first quarter to witness performance after the expansion and provide an indication of future performance. However, due to the lockdown restrictions, the sales of approximately 10 crore could not take place with resultant impact on EBIDTA. The perfo
Slide 35: Sustainability and Social Responsibility
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 36: Societal Responsibility and CSR activities
Societal Responsibility and CSR activities On the CSR front, BRL through Borosil foundation continues to play an active role in helping farmers in water deficient Parli district of Maharashtra improve their annual incomes. Initiatives during Covid-19: Donation of PPE kits to Covid-19 Warriors –
Slide 37: Awards and Recognition
Awards and Recognition GBL has been awarded as GBL honored with CAPEXIL 15th FGI AWARDS for “Leading RE Manufacturer - Leading Renewable Energy Award for Excellence in EXCELLENCE in the category Component Manufacturers” in Manufacturer in the category of Exports for the years 2015-16 of “Outstanding
Slide 38: Recognition received for 2 mm fully tempered solar glass
Recognition received for 2 mm fully tempered solar glass Honourable Prime Minister of India Mr. Narendra Modi Message from Hon. Prime Minister on the occasion of inauguration of 2 mm Fully Tempered solar glass facility 37
Slide 39: Corporate Governance, Board of Directors and KMPs
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain 2. Introduction to Borosil Group and a
Slide 40: Corporate Governance: A professionally managed business backed up by family
Corporate Governance: A professionally managed business backed up by family Board of Directors 39 years of experience in He is an I.A.S. (Retd.) and has a various industries in career spanning 38 years in the Industrialist having Rich techincal, production, Indian Administrative Service experience i
Slide 41: Corporate Governance: Senior Management
Corporate Governance: Senior Management Name Designation Key Responsibility Provide leadership and direction to the Board and assume Mr. Pradeep Kumar Kheruka Executive Chairman responsibility for the strategic initiatives. Provide direction to the organization and establish a policy based Mr. S
Slide 42: Stock information and Contact Details
1. Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of surge in manufacturing Solar Glass – A critical component in Solar PV value chain Solar Glass manufacturing - Competit
Slide 43: Stock Information - As on 30th September 2020
Stock Information- As on 30st September 2020 SHAREHOLDING PATTERN Others, 5.2% SHARES ISSUED Foreign Portfolio Individual Investors, 0.42% shareholders, 11,40,59,537 23.8% Mutual Funds CODE: BORORENEW CODE: 502219 and other Promoter and Financial Promoter Group, Institutions, 70.5% 0.05% As on 30th
Slide 44: Contact Information
Contact Information Registered Office Mumbai Registered Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 INVESTOR RELATIONS [email protected] Tel: +91 22 6740 6300, Fax: +91 22 67406514 Works Ankleshwar - Rajpipla Road, Villag
Slide 45: Thank You
Thank You 44 A view of Borosil Renewable Ltd.’s Solar Glass Factory at Bharuch