Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q3 FY2023 Earnings Presentation
46 slides from Borosil Renewables's earnings presentation, Feb 14, 2023
Slide 1: Investor Presentation: Financial Performance for the quarter ended 31 December 2022
BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter ended on 31°t December 2022
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 and updates from BRL 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 g
Slide 6: Recent industry updates and updates from BRL
1 1. Recent industry updates and updates from BRL 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 s
Slide 7: Recent Industry Updates
Recent Industry Updates • Allocation to MNRE Rs 10,222 Cr for FY24 which is about 45% higher compared to previous year Increased • Rs. 19,000 Cr for National Green Hydrogen Mission which aims to achieve 5 MMT production by 2030 allocation for renewable energy • Rs. 35,000 Cr for priority capital inv
Slide 8: Indian Solar Industry Overview
2 1. Recent industry updates and updates from BRL 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 s
Slide 9: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of 410 GW as of Dec’22 in India, the share of renewables has reached around 30% (121 GW). The share of solar (63.3 GW) has further Total Installed Power Generation Capacity in India 410 GW as of Dec'22
Slide 10: Indian solar Industry: Growth Drivers and enablers
Indian solar Industry: Growth Drivers and enablers National Solar Mission Targets of 300 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 secu
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 an ALMM-approved the facilities of solar module manufacturers having a combined capacity of around 21 GW as of Dec’22 and other capacities of 5 GW that are in the process of approval. ➢ Due to stiff competi
Slide 12: Introduction to Borosil Group and growth story
3 1. Recent industry updates and updates from BRL 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 s
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) 196 149 85 111 120 94 67 87 32 36 1
Slide 14: Borosil Renewables Ltd (BRL): 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: trial production in Q4 FY23 Acquisition of 86% stake in Interfloat group, Europe’s largest solar glass manufacturer BRL sets up India's first and
Slide 15: Commencement of trial production from new 550 TPD furnace
Updates on production from 3rd Furnace of 550 TPD from Borosil Renewables Ltd. Commencement of trial production of solar glass from new 550 Tons per day furnace SG-3: First solar glass from new furnace rolled out on 26th January 2023. Trial Production is going on and stabilization is 15 underway to
Slide 16: Updates on operations of GMB factory in Germany
Updates on operations of GMB factory in Germany View of GMB factory in Tschernitz, Brandenburg, Germany • The recently acquired German plant (GMB) is operating at about 95% capacity. • A cold repair of this furnace will be carried during March and April over 45 days and thereafter the furnace will b
Slide 17: 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 Est CY 23 Est CY 24 Combined Solar Glass Capacity Planned 2400 TPD 180 TPD 450 TPD 750 TPD 1300 TPD 2400 TPD (〜16 GW) Rebuilt 1st Acquired Addition of 3rd The propo
Slide 18: Drivers of growth of Solar glass manufacturing in India
Drivers of growth of Solar glass manufacturing in India Production Linked Incentive Inclusion of solar modules Imposition of Basic Customs (PLI) scheme with a total necessary in Approved List of Duty (BCD) from 1st April 2022 grant of Rs. 24,000 Cr. for Models and Manufacturers on imports of Solar M
Slide 19: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 19
Slide 20: Financials
4 1. Recent industry updates and updates from BRL 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 s
Slide 21: Financial Performance for the quarter and nine months ending 31.12.2022 (1/3)
Financial Performance for the quarter and nine month ending 31.12.2022 (1/3) Rs. in crores Standalone Consolidated Key Parameters Q3 FY23 Q2 FY23 Q3 FY22 Inc./(Dec). % Inc./(Dec). % 9M 9M Growth % Q3 FY23 9M FY23 Q3 FY23 over Q3 FY23 over FY23 FY22 9M FY23 over Q3 FY 22 Q2 FY 23 9M FY 22 Revenue 161
Slide 22: Financial Performance for the quarter (2/3)
Financial Performance for the quarter compared with immediately preceding quarter (2/3) ✓ During Q3FY23, the company recorded Net Revenue from Operations of INR 161 Cr, a decline of 4% over Q3FY22. ✓ Sales volumes of Q3FY23 were higher than Q3FY22 by 4% (basis IND AS). Overall domestic demand for so
Slide 23: Financial Performance for the quarter (3/3)
Financial Performance for the quarter compared with immediately preceding quarter (3/3) ✓ The standalone EBITDA of INR 43.1 Cr includes INR 9.8 Cr income on account of exchange rate difference and interest income on loans given to the overseas subsidiaries. The EBITDA on the other hand excludes an a
Slide 24: Borosil Renewables Limited: Products and Innovations
5 1. Recent industry updates and updates from BRL 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 s
Slide 25: 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 26: 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 27: 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 28: 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 removed Antimony (a harmful mechanical strength, and chemical chemical) from its glass durability • Technology has been patented • Lowest iron content solar glass
Slide 29: 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 30: Domestic and International Customer base
6 1. Recent industry updates and updates from BRL 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 s
Slide 31: 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 25-30% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quant
Slide 32: Sustainability, social responsibility, and ESG journey
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 33: 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 34: 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 FY23 • Aim to achieve Carbon neutral operations Greener planet • Plans to undertake GHG monitoring and inv
Slide 35: 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 36: 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 37: Awards and Recognition
8 1. Recent industry updates and updates from BRL 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 s
Slide 38: 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 38
Slide 39: 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 nominated f
Slide 40: Corporate Governance, Board of Directors and KMPs
9 1. Recent industry updates and updates from BRL 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 s
Slide 41: 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 42: 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 43: Stock information and Contact Details
10 1. Recent industry updates and updates from BRL 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
Slide 44: Shareholding Pattern
Stock Information- As of 31th December 2022 SHAREHOLDING PATTERN Non-Institutional SHARES ISSUED Investors & others 32.30% 13,04,59,679 Promoters and Promoter Group 61.64% Domestic Institutional Investors 0.11% Foreign Portfolio Investors CODE: BORORENEW CODE: 502219 5.96% 44
Slide 45: 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 46: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 46