Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q1 FY22 Earnings Presentation
43 slides from Borosil Renewables's earnings presentation, Aug 5, 2021
Slide 1: Borosil Renewables Limited - Presentation cover letter
BOROSIL Borosil Renewables Limited (Formerly Borosil Glass Works Ltd. in which Gujarat Borosil Ltd. has amalgamated) CIN :1.26100MH1962PLC012538 renewables Regd. Office :1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex Bandra (E), Mumbai - 400 051, India. T : +9122 6740 6300 F : +9122 6
Slide 2: Financial Performance for the quarter ended on 30th June 2021
Financial Performance for the quarter ended on 30 th June 2021
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 FY : Financial Year ending 31st March NSM : National Solar Mission ARC : Anti-Reflective Coating GBL : Gujarat Borosil Limited OEE : Overall Equipment Effectiveness AS : Anti-soiling GW : Gigawatt PA : Per Annum BCD : Basic Custom Duty GWh : Gigawatt-‐ hour
Slide 5: Contents
CONTENTS 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Finan
Slide 6: 1. Indian Solar Industry Overview
1 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 7: Increasing share of Solar in Rising Renewables - Roadmap supported by robust pipeline
Increasing share of Solar in Rising Renewables- Roadmap supported by robust pipeline Total Installed Power Generation Capacity in India 384 GW as of Jun'21 ➢ Out of total installed power generation capacity of 384 GW as of Jun’21 in India, renewables form Renewables, 97.0 more than 25% (97 GW) of wh
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. Need annual installations of 25 GW to achieve the target SECI Tenders • Tenders by SECI for large ISTS connected projects assuring off
Slide 9: 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 Mar’21 ➢ Due to stiff competition from low-priced imports, the actual Domestic Manufacturing is about 4-‐ 5 GW annually (about average 40% utilisat
Slide 10: 2. Introduction to Borosil Group and growth story
2 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 11: 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) 150 111 120 94 67 62 36 32 29 84 79
Slide 12: Borosil Renewables: A Growth Story
Borosil Renewables: A Growth Story • Imposition of Countervailing Duty on solar glass imports from Malaysia India imposes CPSU/KUSUM “Aatmanirbhar • Basic Customs Duty on imports of Anti-Dumping schemes , Bharat”. Focus solar cells (25%) & modules (40%) and PLI scheme Anti dumping Duty on Chinese do
Slide 13: Capacity Expansion to keep pace with market growth
Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth CY18 CY 20 Est CY 22 Est CY 24 BRL’s Installed Capacity (TPD) 180 TPD 450 TPD 1000 TPD 2000 TPD Roadmap towards 2000 TPD (10 GW) Rebuilt 1st Proposed Proposed addition furnace with addition of a 3rd of a 4th and 5th 500 Furna
Slide 14: Drivers of growth of Solar glass manufacturing in India
Drivers of growth of Solar glass manufacturing in India Potential to increase export of Solar Glass Shift towards Glass-glass and Bifacial modules globally A very good potential to increase exports to Europe, Americas, Russia, Turkey and MENA due to renewed focus on domestic modules manufacturing in
Slide 15: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 14
Slide 16: 3. Financials
3 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 17: Financial Performance for the quarter ending 30.06.2021 (1/3)
Financial Performance for the quarter ending 30.06.2021 (1/3) Rs. in Crores Key Parameters Q1 FY22 Q4 FY21 Q1 FY21 Growth % Growth % FY21 Q1 FY22 over Q1 FY22 over Q1 FY 21 Q4 FY 21 Revenue* 136.13 193.98 54.07 152% -‐ 30% 502.27 EBITDA 68.19 106.60 10.08 576% -‐ 36% 202.73 EBITDA % 50.1% 55.0% 18
Slide 18: Financial Performance for the quarter ending 30.06.2021 (2/3)
Financial Performance for the quarter ending 30.06.2021 (2/3) ➢ The company recorded Net Sales of INR 136.1 Cr. This is a 152% increase from last year’s low base, which had suffered the impact of Covid related lockdowns. Export Sales during Q1FY22 (including to customers in SEZ) were INR 32.17 Cr.,
Slide 19: Update on expansion project (SG-3) under implementation
Financial Performance for the quarter ending 30.06.2021 (3/3) Update on expansion project (SG-‐ 3) under implementation The company has decided to enhance the capacity of this line from the earlier planned 500 TPD to 550 TPD. The furnace will come with a superior design expected to deliver higher e
Slide 20: 4. Borosil Renewables Limited
4 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 21: 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 : High Efficiency Matt – Matt • Solar Rooftop, Water pumps Finish • Bifacial, Glass-glass, BIPV • Selene: Anti-Glare Solar Glass
Slide 22: 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 23: Innovation by Borosil in Solar Glass (1/3)
Innovation by Borosil in Solar Glass (1/3) • SHAKTI: HIGH EFFICIENCY SOLAR GLASS IN MATT-MATT FINISH • Recently developed a solar glass with matt finish on both sides • Higher module output • Higher transmission = Higher output by the modules = Higher IRR • Transmission value reaching higher than 94
Slide 24: Innovation by Borosil in Solar Glass (2/3)
Innovation by Borosil in Solar Glass (2/3) • NoSbEra: ANTIMONY-FREE SOLAR GLASS BY BOROSIL A PATENTED TECHNOLOGY BY BRL • No other forms of flat glass today contains Antimony. Only solar glass does. • It leaches out of glass like sugar from a candy stick • Borosil is the only solar glass manufacture
Slide 25: Innovation by Borosil in Solar Glass (3/3)
Innovation by Borosil in Solar Glass (3/3) 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, the Solar PV Glass-Backsheet Glass-Glass > 3 mm
Slide 26: Innovations in Manufacturing Processes with a view to care for environment
Innovations in Manufacturing Processes 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
Slide 27: 5. Domestic and International Customer base
5 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
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: 6. Sustainability and social responsibility
6 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 30: Societal Responsibility and CSR activities
Societal Responsibility and CSR activities On the CSR front, BRL Initiatives during Covid-19: The foundation is supporting through Borosil foundation Donation of PPE kits to women athletes who are continues to play an active Covid-19 Warriors – Doctors striving to win medals at the role in helping f
Slide 31: Other ongoing Initiatives: Societal Responsibility and CSR
Other ongoing Initiatives: Societal Responsibility and CSR • The company helps running a CBSE school (CKG Highschool) in Govali village • Sewa Yagna Samiti. Bharuch. • Contribution to Gram Vikas Trust for • Borosil supports the Civil Hospital with their Vidyasaathi Project Nutritional requirements (
Slide 32: 7. Awards and Recognition
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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4.
Slide 33: Recent strides by Borosil Renewables Ltd.
Recent strides by Borosil Renewables Ltd. Borosil Renewables won a prestigious Gold Medal at Borosil Renewables has received a letter of appreciation from Hon. Governor of India Green Manufacturing Challenge 2020-21 Gujarat Shri. Acharya Devvrat , for supporting the Corona Warriors in 32 coordinatio
Slide 34: BRL Wins a National Award 2021 for Technology development and commercialization
BRL Wins a National Award 2021 for Technology development and commercialization Presented by Technology Development Board, Dept. of Science and Technology, Govt. of India on account of developing and commercializing technologies for World’s first fully tempered 2mm solar glass and Antimony free sola
Slide 35: 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
Slide 36: Other Industry awards and recognition
Other Industry awards and recognition GBL has been awarded as Leading GBL honored with CAPEXIL 15th FGI AWARDS for Renewable Energy Manufacturer Leading RE Manufacturer - Award for Excellence in “ EXCELLENCE in the category of Component Manufacturers in in the category of Component ” Exports for the
Slide 37: 8. Corporate Governance, Board of Directors and KMPs
8 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 38: Corporate Governance: A professionally managed business backed up by family
Corporate Governance: A professionally managed business backed up by family 39 years of experience in He is an I.A.S. (Retd.) and has a various industries in techincal, career spanning 38 years in the Industrialist having Rich production, projects and Indian Administrative Service experience in the
Slide 39: Corporate Governance: Senior Management
Corporate Governance: Senior Management Name Designation Key Responsibility ➢ Provide leadership and direction to the Board and assume Mr. Pradee p Kumar Kheruka Executive Chairman responsibility for the strategic initiatives. ➢ Provide direction to the organization and establish a policy Mr. Shreev
Slide 40: 9. Stock information and Contact Details
9 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 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 41: Stock Information - As on 30th June 2021
Stock Information- As on 30th June 2021 SHAREHOLDING PATTERN Non-Institutional Investors & SHARES ISSUED others 32.92% 13,01,58,299 Promoters and Promoter Group 61.78% Domestic Institutional Investors 0.04% Foreign Portfolio Investors 5.26% CODE: BORORENEW CODE: 502219 As on 30th June 2021 40
Slide 42: 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, V
Slide 43: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET...