Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q1 FY2025 Earnings Presentation
30 slides from Borosil Renewables's earnings presentation, Aug 13, 2024
Slide 1: Investor Presentation Q1FY25
INVESTOR PRESENTATION Q1FY25 1
Slide 2: Safe Harbour
Safe Harbour THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF BOROSIL RENEWABLES LIMITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background inf
Slide 3: Contents
Contents 1. Our Vision/Purpose & Our Group 2. Financials 3. Industry updates 4. Increasing Share of Solar in Rising Renewables 5. Our Worldwide Presence 6. Our Capacity & Growth 7. Our USP, Innovations & Constant Evolution 8. Growth Drivers & Indian Solar Module Manufacturing Industry 9. Product Por
Slide 4: Our Vision Purpose
Our Vision Purpose “To be the most Customer “Pioneering a sustainable future Centric Company” with reliability and quality” 4
Slide 5: Our Group
Our Group Borosil Group Borosil Renewables Limited Borosil Limited Borosil Scientific Limited One of the leading players in Laboratory INDIA’s first and largest solar glass One of the Market leaders in consumer Consumables, Laboratory Equipment, manufacturer with a combined capacity glassware and Ki
Slide 6: Standalone Q1 FY25 P&L
Standalone Q1 FY25 P&L Standalone Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q1FY25 Q4FY24 Q1FY24 Change% Change% FY24 Revenue 241.40 227.23 237.82 2% 6% 985.87 EBITDA 29.71 13.13 56.52 -47% 126% 118.93 EBITDA % 12.3% 5.8% 23.8% -48% 113% 12.1% Interest 6.17 2.09 7.46 17% -195% 26.23 Depreci
Slide 7: Standalone Q1 FY25 Key Highlights
Standalone Q1 FY25 Key highlights of Standalone Quarterly Results ❖ During Q1FY25, the Sales volumes of the Company rose by 23% over the corresponding quarter in the previous year. However, the net revenue from operations rose by just 2%. Average ex-factory selling prices during the quarter were abo
Slide 8: Consolidated Q1FY25 P&L
Consolidated Q1FY25 P&L Consolidated Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q1FY25 Q4FY24 Q1FY24 Change% Change% FY24 Revenue 370.79 283.11 354.50 5% 31% 1,369.28 EBITDA 25.91 -20.82 34.44 -25% 224% 74.85 EBITDA % 7.0% -7.4% 9.7% -28% 195% 5.5% Interest 7.29 3.16 9.01 19% -130% 29.22 Dep
Slide 9: Consolidated Q1 FY25 Key Highlights
Consolidated Q1 FY25 Key highlights of Consolidated Quarterly Results ❖ During Q1FY25, the consolidated net revenue from operations stood at INR 370.79 crs reflecting a rise of 5% over the corresponding quarter. However, the net revenue was higher by 31% compared to the preceding quarter i.e. Q4FY24
Slide 10: Proposed Fund Raise Status
Proposed Fund Raise Status • The Company on 10th June 2024 had filed a draft letter of offer (DLOF) to SEBI to raise funds upto INR 450 Crs by a Rights Issue of equity shares. • The proceeds are proposed to be utilized mainly to reduce the debt for the Indian operations as well as at the overseas op
Slide 11: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • The Ministry of Finance (MoF) have imposed Basic Customs Duty (BCD) on imports of solar glass (10%) effective from 1st October 2024 and have extended the exemption on raw materials used in the manufacturing of specified sol
Slide 12: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of 446 GW as of Q1 FY25 in India, the share of Total Installed Power Generation Capacity renewables has reached 33% (148 GW). The share of solar (85 GW) has further increased to in India 446 GW as of Ju
Slide 13: Our Worldwide Presence
Our Worldwide Presence • A global presence with products matching international standards and quality requirements, with over 18.45% of • Netherlands • Bulgaria • Germany • Turkey revenue coming from exports. • France • Jordan • Portugal • Greece • The largest manufacturer of solar glass in India, o
Slide 14: Our Capacity (TPD)
Our Capacity (TPD) India Furnace 1 India Furnace 2 7.5x Over 5 Years 1350 550 Germany Furnace 1 India Furnace 3 750 300 350 450 450 450 240 240 240 240 240 180 180 210 210 210 210 210 CY18 CY19 CY20 CY21 CY22 As on date Tonnes per day (TPD) 14
Slide 15: Capacity Planning
Capacity Planning Combined Installed Capacity (TPD)-Projected CY18 CY 20 CY 22 CY 23 & 24 Est CY 25 2450 TPD Combined Solar Glass 180 TPD 450 TPD 750 TPD 1350 TPD Capacity Planned 2450 TPD Rebuilt 1st Acquired Addition of 3rd The proposed (〜16 GW) furnace with Interfloat Group furnace with a additio
Slide 16: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 16
Slide 17: Our USP
OUR USP HIGHER TRANSMISSION ENGINEERED FOR LONG TERM DURABILITY • • • ENHANCED MECHANICAL STRENGTH • • • TEMPERED GLASS IS SAFER AND STRONGER • • Wavelength range (nm) Supplier 380-780 380-1100 380-2500 BOROSIL 91.76% 91.68% 91.31% Company X 91.73% 91.51% 91.00% Company H 91.74% 91.58% 91.08% Normal
Slide 18: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • 18
Slide 19: Constant Evolution
CONSTANT EVOLUTION Products designed to align with changing demands and emerging needs 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 mod
Slide 20: Growth Drivers
Growth Drivers National Solar Mission PLI Scheme National Tariff Policy Targets of 280 GW installed solar Total Production Linked Incentive (PLI) granted Enforcing the Renewable Purchase Obligation targets capacity to be achieved by 2030. Need in two tranches is about Rs. 18,500 Cr. This to promote
Slide 21: Indian Solar PV Manufacturing
Indian Solar PV Manufacturing • India has a solar module manufacturing capacity of around 65 GW as of Apr’24 on track to hit 110 GW by 2026 as per CII- EY report on Atmanirbhar Bharat in renewable energy as 45 GW of new capacity is expected to be added by various existing and new players . • In FY24
Slide 22: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE ADDED PRODUCTS • High-Performance Solar Glass for • Utility-scale ground solar PV • Shakti / Clear : High Efficiency Matt – • High-Performance Green House Matt Finish • Solar Rooftop • Selene / Deflect : Anti-Glare Solar • Bifacial, Glass-glass, BI
Slide 23: Eco-Conscious Innovators
Eco-Conscious Innovators • Efficient and cost-effective, low energy intensive process • A Life Cycle Assessment carried out by a reputed European institute indicated that the company maintained a 22% lower carbon footprint in comparison with the default value for glass manufacturing. • Use of low-co
Slide 24: ESG Journey
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 • Health and • Water safe
Slide 25: ESG Journey
ESG Journey Our strategic ESG priorities Our Actions • ESG target disclosures and dedicated dashboard to track emissions. • Aim to achieve Carbon neutral operations • Increase the ratio of sales in reusable • Explore waste management Greener planet packaging material and explore further opportunitie
Slide 26: Awards & Accolades
Awards & Accolades 2023 2023 2023 Mr. P. K. Kheruka received Great Place to Work Top Exporter Award prestigious EY entrepreneur of the Mar 22 to Mar-23 from CAPEXIL for FY21-22 year award in a category-2023 2022 2021 2021 17th FGI AWARDS for EXCELLENCE National Award AIGMFs in the category of “Outst
Slide 27: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price BSE (₹) 580 Public & 560 Others, 540 33.84% 520 500 480 460 440 420 400 Promoter & 01-Apr-24 01-May-24 01-Jun-24 01-Jul-24 01-Aug-24 Promoter Group, 61.60% DII, 0.24% ₹6721 Market Cap cr FII, 4.32% NSE: as on 9th Aug 2024 As on 30th Jun 202
Slide 28: Board Of Directors
Board Of Directors Also the Managing He is an I.A.S. (Retd.) and has a Director and CEO of career spanning 40 years in the Industrialist having Rich Indian Administrative Service Borosil Limited with more experience in the Glass Industry than 17 years Corporate experience. Mr P.K. Kheruka Mr Shreeva
Slide 29: Key Abbreviations
Key Abbreviations GWh : Gigawatt-hour PA : Per Annum ADD : Anti-dumping Duty INR : Indian Rupee PAT : Profit after tax ARC : Anti-Reflective Coating IP : Intellectual Property PBT : Profit before tax AS : Anti-soiling IPO : Initial Public Offering PID : Potential Induced Degradation BCD : Basic Cust
Slide 30: Thank You
Thank You INVESTOR RELATIONS [email protected] Tel: +91 22 6740 6300, Fax: +91 22 67406514 Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 30