Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q1 FY24 Earnings Presentation
44 slides from Borosil Renewables's earnings presentation, Aug 9, 2023
Slide 1: Investor Presentation: Financial Performance for the quarter ended 30 June 2023
BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter ended on 30* June 2023
Slide 2: 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 3: Key Abbreviations
KEY ABBREVIATIONS ADD : Anti-dumping Duty GWh : Gigawatt-hour PA : Per Annum ARC : Anti-Reflective Coating INR : Indian Rupee PAT : Profit after tax AS : Anti-soiling IP : Intellectual Property PBT : Profit before tax BCD : Basic Custom Duty IPO : Initial Public Offering PID : Potential Induced Degr
Slide 4: Our Purpose
OUR PURPOSE Pioneering a Sustainable Future with Reliability and Quality OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY 4
Slide 5: Contents
CONTENTS 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosi
Slide 6: Contents: Recent industry updates
1 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 7: Recent Industry Updates
Recent Industry Updates • MNRE unveils bidding plan for 50 GW RE projects in FY24 and issues quarter wise timelines for SECI (15 GW), NTPC (15 GW), NHPC (10 GW) and SJVNL (10 GW). 40 GW to come from Solar and 10 GW from wind. • CEA issues National Electricity Plan that projects 562 GW of installed c
Slide 8: Contents: Indian solar industry overview
2 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 9: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables Total Installed Power Generation Capacity in India ➢ Out of total installed power generation capacity of 422 GW as of Jun’23 in India, the share of 422 GW as of Jun'23 (in GW) renewables has crossed 30% (130 GW). The share of solar (70 GW) has further i
Slide 10: Indian solar Industry: Growth Drivers and enablers
Indian solar Industry: Growth Drivers and enablers National Solar Mission Targets of 280 GW installed solar capacity to be achieved by 2030. Need annual solar installations of 30 +GW to achieve the target SECI Tenders Tenders by SECI for large ISTS connected projects assuring offtake and payment sec
Slide 11: 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 a solar module manufacturing capacity of around 35 GW as of Mar’23. ➢ In FY23 the output of domestic solar PV module manufacturing Industry has increased to 10 GW from about 6 GW in FY22 on the back of meas
Slide 12: Contents: Borosil Group introduction
3 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 13: The BOROSIL Group: Leadership Guiding Consistent Growth
The BOROSIL Group: Leadership Guiding Consistent Growth Borosil Renewables Ltd. Borosil Ltd. High Performance Solar Glass Consumer Products Scientific, Industrial & Pharmaceutical Laboratory Glassware and Packaging instruments Borosil Group - Net Sales (in USD Mn) 234 196 149 109 94 111 120 85 36 67
Slide 14: BRL's journey: A Growth Story
Borosil Renewables Ltd (BRL): A Growth Story BRL’s journey has been marked with innovation and firsts in the industry… 3rd furnace with 550 TPD capacity: commissioned in Q4 FY23 Acquisition of 86% stake in Interfloat group, Europe’s largest solar glass manufacturer BRL sets up India's first and only
Slide 15: Updates on operations of GMB factory in Germany
Updates on operations of GMB factory in Germany • The Company has completed the cold repair of furnace at GMB during middle of March to Middle of May 2023 and enhanced the capacity to 350 Tons per day (TPD) • This repair will not only help in increasing the life of the furnace, but will also help in
Slide 16: Capacity Expansion to keep pace with market growth
Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth Combined Installed Capacity (TPD)-Projected CY18 CY 20 CY 22 CY 23 & 24 Est CY 25 Combined Solar Glass Capacity Planned 2450 TPD 180 TPD 450 TPD 750 TPD 1350 TPD 2450 TPD (〜16 GW) Rebuilt 1st Acquired Addition of 3rd The prop
Slide 17: Drivers of growth of Solar glass manufacturing in India
Drivers of growth of Solar glass manufacturing in India Production Linked Incentive Imposition of Basic Customs (PLI) scheme with a total Duty (BCD) from 1st April 2022 grant of about Rs. 18,500 Cr. on imports of Solar Modules for Integrated solar (40%) and Solar Cells (25%) manufacturing in India R
Slide 18: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 18
Slide 19: Contents: Financials
4 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 20: Financial Performance for the quarter compared with previous year
Financial Performance for the quarter compared with corresponding quarter of previous year Standalone Consolidated Key Parameters Q1 FY24 Q4 FY23 Q1 FY23 Inc./(Dec). % Inc./(Dec). % FY23 Q1 FY24 Q1 FY24 over Q1 FY24 over Q1 FY 23 Q4 FY 23 Revenue 237.82 187.54 169.98 40% 27% 688.17 354.50 EBITDA 56.
Slide 21: Financial Performance for the quarter ended 30.06.2023
Financial Performance for the quarter ended 30.06.2023 Rs. in crores ❖ During Q1FY24, the Company recorded standalone Net Revenue from Operations of INR 237.82 Cr, an increase of 40% over the corresponding quarter in FY23. Sales volumes on a quantitative basis grew by 56% as a result of commissionin
Slide 22: Contents: Borosil Renewables Limited
5 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 23: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE • High-Performance Solar Glass for ADDED PRODUCTS • Utility-scale ground solar PV • High-Performance Green House • Shakti / Clear : High Efficiency • Solar Rooftop Matt – Matt Finish • Bifacial, Glass-glass, BIPV • Selene / Deflect : Anti-Glare Sol
Slide 24: USPs of Borosil's Solar Glass and Superior Performance
USPs of Borosil’s 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 • Withstood >
Slide 25: Products to meet the evolving requirements
Products to meet the evolving requirements Solar PV market is moving towards use of bifacial modules and glass-glass modules which has accelerated the use of thinner solar glass to optimize module weight Growth of bifacial modules Growth of Glass-Glass modules Growth of thinner glass 100% 100% 100%
Slide 26: Product Innovations by Borosil in Solar Glass
Product Innovations by Borosil in Solar Glass • First solar glass manufacturer to have • Flagship product with low PID, high successfully produced without using mechanical strength, and chemical Antimony (a harmful chemical) in its solar durability glass production • Have developed lowest iron conte
Slide 27: Manufacturing Processes Innovations with a view to care for environment
Manufacturing Processes Innovations with a view to care for environment • Efficient and cost-effective, low Energy Intensive Process • The Company has a 22% lower carbon footprint in comparison to the default score for glass manufacturing in Life Cycle Assessment. This value is the best value so far
Slide 28: Contents: Customer base
6 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 29: 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 over 25% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantiti
Slide 30: Contents: Sustainability and ESG
7 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 31: Borosil Renewables: An ESG Journey
Borosil Renewables: An ESG Journey ESG is outcome-driven and not just good intentions. Environment Social Governance • Employee health • Emissions and safety • Risk management • Water Investors • Community system • Energy relations • Code of conduct • Climate change • Labour practices • Emissions •
Slide 32: Borosil Renewables: An ESG Journey
Borosil Renewables: An ESG Journey Borosil Renewables Limited has embarked on a transformational journey where ESG is the core of how we do business. Our strategic ESG priorities Our actions in FY24 • Aim to achieve Carbon neutral operations Greener planet • Plans to undertake GHG monitoring and inv
Slide 33: Societal Responsibility and CSR
Ongoing Initiatives at Borosil Renewables Ltd.: Societal Responsibility and CSR • The company helps running a CBSE school (CKG High school) in Govali village • Sewa Yagna Samiti. Bharuch. • Contribution to Gram Vikas Trust for • Borosil supports the Civil Hospital with their Vidyasaathi Project Nutr
Slide 34: Ongoing Initiatives at Borosil group level: Societal Responsibility and CSR
Ongoing Initiatives at Borosil group level.: Societal Responsibility and CSR On the CSR front, BRL continues to play an active Providing education, shelter, role in helping farmers in imparting vocational training water deficient Parli district etc. to underprivileged of Maharashtra improve children
Slide 35: Contents: Awards and Recognition
8 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 36: Recognition received for 2 mm fully tempered solar glass
Recognition received for 2 mm fully tempered solar glass World’s 1st company to produce 2 mm fully Honourable Prime tempered solar glass Minister of India Mr. Narendra Modi Message from Hon. Prime Minister on the occasion of inauguration of 2 mm Fully Tempered solar glass facility 36
Slide 37: Other Industry awards and recognition
Other Industry awards and recognition National Award 2021 Prestigious Gold Medal at India 17th FGI AWARDS for By Dept. of Science and Green Manufacturing Challenge EXCELLENCE in the category of Technology, Govt. of India 2020-21 “Outstanding Entrepreneur” in 2022 AIGMFs Mr. P. K. Kheruka received Ba
Slide 38: Contents: Corporate Governance
9 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 39: Corporate Governance: A professionally managed business backed up by family
Corporate Governance: A professionally managed business backed up by family 41 years of experience in He is an I.A.S. (Retd.) and has a various industries in techincal, career spanning 40 years in the Industrialist having Rich production, projects and Indian Administrative Service experience in the
Slide 40: 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 Mr. Shreeva
Slide 41: Contents: Stock information and Contact Details
10 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Rene
Slide 42: Shareholding Pattern
Stock Information- As of 31th March 2023 Shareholding Pattern Non-Institutional SHARES ISSUED Investors & others 32.02% 13,05,20,799 Promoters and Promoter Group 61.61% Domestic Institutional Investors 0.07% CODE: BORORENEW CODE: 502219 Foreign Portfolio Investors 6.30% 42
Slide 43: 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 (India) Works (Germany) Borosil Re
Slide 44: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 44