Borosil Eyes ₹7,000 Crore Revenue with Major Investments and Growth Plans

Borosil, a company that manufactures glassware, laboratory equipment, and solar glasses, aims to double its revenue to ₹7,000 crore over the next 4 years. According to Executive Vice Chairman Shreevar Kheruka, this growth is expected to come from double-digit increases across all its business areas. 

The Kheruka family, which promotes Borosil Group, operates 3 listed companies: Borosil Ltd, Borosil Renewables Ltd, and Borosil Technologies Ltd. They anticipate reaching nearly ₹3,500 crore in revenue by FY25.

Borosil plans to invest ₹250 crore in expansion and increasing its production capacity to meet demand. According to Kheruka, about ₹150 crore will be spent on a new plant in Gujarat for Borosil Ltd, which produces glassware and cookware. Additionally, the company has already invested ₹450 crore at its Jaipur unit to expand production and will invest another ₹100 crore to enhance efficiency and further increase capacity.

Kheruka mentioned that Borosil is open to more acquisitions in the kitchen sector. He noted that in 2020, the total revenue of Borosil Group’s three companies was around ₹950 crore, and they expect it to rise to nearly ₹3,500 crore by 2025. This represents a growth of about 3.5 to 4 times over the last five years, which has been a solid performance. However, he acknowledged that achieving similar growth in the next 5 years will be tough due to strong competition from Chinese companies that are exporting solar glass to India at much lower prices than their production costs. 

Kheruka mentioned that Borosil’s turnover is currently around ₹1,300-1,400 crore and should double if the right policies are implemented. He also expects the scientific business to reach nearly ₹500 crore this year, with growth projected at 12-14% or slightly lower. Given this, he believes it’s reasonable to expect revenue to grow from ₹3,500 crore to ₹7,000 crore in the next 4 years.

Financial Highlights

For the financial year ending March 31, 2024, Borosil Ltd reported a revenue of ₹942.25 crore, while Borosil Renewables had a consolidated revenue of ₹1,369.28 crore. Borosil Scientific, which became a separate company in June after splitting from Borosil Ltd, reported a consolidated revenue of ₹394.57 crore in FY24.

On October 21, 2024, Borosil Ltd’s share price opened at ₹446.95 and touched the day high of ₹448.00 at 10:02 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.