Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q1 FY26 Earnings Presentation
30 slides from Borosil Renewables's earnings presentation, Jul 24, 2025
Slide 1: Investor Presentation Q1 FY26
INVESTOR PRESENTATION Q1 FY26 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. Company & Industry updates 4. Increasing Share of Solar in Rising Renewables 5. Growth Drivers & Indian Solar Module Manufacturing Industry 6. Our Capacity & Growth 7. Our Worldwide Presence 8. Our USP, Innovations & Constant Evolution 9. P
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 capacity of 1000 glassware and Kit
Slide 6: Standalone Q1 FY26 P&L
Standalone Q1 FY26 P&L Standalone Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q1FY26 Q4FY25 Q1FY25 Change% Change% FY25 Revenue 332.26 327.23 241.82 37.4% 1.5% 1,109.94 EBITDA 92.53 77.03 29.71 211.4% 20.1% 180.51 EBITDA % 27.8% 23.5% 12.3% 126.6% 18.3% 16.3% Interest 4.20 7.24 6.17 25.81 Dep
Slide 7: Standalone Q1 FY26 Key Highlights
Standalone Q1 FY26 Key highlights of Standalone Quarterly Results ❖ The Company achieved sales of INR 332.26 Cr versus INR 241.82 Cr in the corresponding quarter last year. The company registered EBITDA of 27.8%. The absolute amount of EBITDA at INR 92.53 Cr, shows a quantum jump of 211% from INR 29
Slide 8: Realigns Focus to India's Solar Growth
Borosil Renewables Realigns Focus to India’s Solar Growth ❖ European Exit: Strategic Insolvency Filing of GMB (Germany) • GMB, our German step-down subsidiary, filed for insolvency on July 4, 2025 • Triggered by collapse in EU demand as Chinese solar modules flooded the market • No Government interv
Slide 9: Revised Expansion plan
Revised Expansion plan ❖ Board approved setup of two new furnaces (SG-4 & SG-5), each of 300 TPD, totaling 600 TPD (Revising the earlier proposal of 500 TPD) ❖ Estimated Investment: ₹950 crore (up from ₹675 crore earlier) ❖ Commissioning Target: Dec 2026. Work already begun. ❖ Mode of financing : a
Slide 10: Update on Fund Raise
Update on Fund Raise Preferential Issue-February 2025 : Approx ₹517.66 crore • Promoter & Promoter Group : ₹100 crore raised through issuance of 18,86,793 equity share at ₹530 per share. Full amount was received by the company. • Non-Promoter Investors: ₹417.66 crore raised through issuance of 78,80
Slide 11: New Fund Raise
New Fund Raise ❖ February 2025 Fundraise: The company raised ₹517.66 crore against a ₹700 crore target. Promoters contributed ₹100 crore fully, while non-promoters paid 25% application money, with the remaining 75% payable within 18 months for share conversion. ❖ Project Scope Revision: Originally p
Slide 12: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • The Ministry of Finance had on 4th Dec 2024 imposed provisional anti-dumping duties (ADD) on imports of "Textured Tempered Coated and Uncoated Glass" from China and Vietnam based on recommendation of Commerce Ministry. The
Slide 13: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of ~485 GW as of Q1 FY26 in India, the share of renewables has reached 38% (~185 GW). The share of solar (116 GW) has further increased to Total Installed Power Generation Capacity about 63% of the rene
Slide 14: Promising 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 15: Indian Solar PV Manufacturing On the Cusp of Growth
Indian Solar PV Manufacturing • India has a solar module manufacturing capacity of around ~90.9 GW currently and projected to reach 150 GW in the next 2 years as new capacities are expected to be added by various existing and new players . • In Q1FY26, the solar installations were higher at about 10
Slide 16: Capacity Planning
Capacity Planning Combined Installed Capacity CY18 CY 20 CY 22 CY 23 & 24 CY 25 Est CY 26 (TPD)-Projected 180 TPD 450 TPD 750 TPD 1350 TPD -350 TPD 1600TPD Combined Solar Glass Rebuilt 1st Acquired Addition of 3rd GMB Board approved Capacity Planned 1600 TPD furnace with Interfloat Group furnace wit
Slide 17: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… 2010 2013 2014 2016 2017 2018 2019 2021 2022 2023 2025 17
Slide 18: Our Worldwide Presence
Our Worldwide Presence • A global presence with products matching international • Netherlands • Bulgaria • Germany • Turkey standards and quality requirements. • France • Jordan • Portugal • Greece • The largest manufacturer of solar glass in India, offering • Italy • Croatia lower lead times and fl
Slide 19: 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 20: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • 20
Slide 21: 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. This shift will significantly increase the overall
Slide 22: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE ADDED PRODUCTS • High-Performance Solar Glass for • Utility-scale ground solar PV • Grid Printed Back Glass for Bifacial • High-Performance Green House Modules • Solar Rooftop • Shakti / Clear : High Efficiency Matt – • Bifacial, Glass-glass, BIPV
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 • Aim to achieve Carbon neutral operations to track emissions. • Explore waste management • Increase the ratio of sales in reusable packaging Greener planet material and explore further opportunitie
Slide 26: Awards & Accolades
Awards & Accolades 2025 2024 2024 2023 Great Place to Work Certified DET HURUN Award National Award for Best Industrial Mr. P. K. Kheruka received from the Outstanding Relations in the Medium prestigious EY entrepreneur of the Great Place to Work Trust Index Contribution to Enterprise category from
Slide 27: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price NSE (₹) Public & 650 Others, 600 32.88% 550 500 450 400 Promoter & Promoter Group, DII, 0.57% 61.93% ₹8266 Market Cap cr FII, 4.62% NSE: as on 22nd Jul 2025 As on 30th Jun 2025 27
Slide 28: Board Of Directors
Board Of Directors A seasoned legal professional Also the Managing with over 3 decades of Director and CEO of experience.. He is the Managing Industrialist having Rich Partner of Shardul Amarchand Borosil Limited with more experience in the Glass Industry Mangaldas & Co. and heads the than 17 years
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 Balesh Talapady Vice President – Investor Relations [email protected] Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 30