Borosil Renewables Shares in Focus; Expands Solar Glass Capacity by 50%

Borosil Renewables has received approval to expand its solar glass manufacturing capacity by 50%, increasing from 1,000 to 1,500 tons per day. The move supports India’s self-reliance in solar production and mitigates imported competition.

Expansion Details

Borosil Renewables Limited, India’s largest solar glass manufacturer, is set to increase its production capacity by 50%.

Following approval from the Board of Directors in December 2024, the capacity will rise from 1,000 tons to 1,500 tons per day, the company said in a press release on the stock exchanges.

This expansion follows the government’s introduction of a “Reference Price” for imports, addressing the unfair dumping of cheap solar glass by Chinese and Vietnamese companies.

The move is aimed at bolstering domestic production, ensuring a reliable supply chain for local PV module manufacturers, and minimizing foreign exchange outflows.

Q2 FY25 Results Highlights

In Q2 FY25, the company saw a decline in revenue to ₹372.42 crore, down ₹29.24 crore from ₹401.66 crore in Q2 FY24. EBITDA also decreased by ₹2.57 crore, falling to ₹34.57 crore, though EBITDA margin slightly improved to 9.3%.

The company faced an increase in depreciation and a slight rise in interest expense. The profit before tax (PBT) worsened, showing a larger loss of ₹8.38 crore, while net profit after tax (PAT) declined sharply to ₹-13.13 crore, compared to ₹30.47 crore in Q2 FY24.

Share Price Performance

Borosil Renewables Limited’s share price has seen a notable rise today, increasing by 5% to reach a high of ₹603.10, up from the previous close of ₹574.40. The stock opened at ₹603.10, indicating strong upward momentum.

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