Industrial Products
Valuation | |
|---|---|
| Market Cap | 7.5 kCr |
| Price/Earnings (Trailing) | -25.8 |
| Price/Sales (Trailing) | 5.38 |
| EV/EBITDA | -1.32 K |
| Price/Free Cashflow | 204.37 |
| MarketCap/EBT | -58.19 |
| Enterprise Value | 7.65 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 0.10% |
| Price Change 1M | -3% |
| Price Change 6M | -1.8% |
| Price Change 1Y | 2.7% |
| 3Y Cumulative Return | 2% |
| 5Y Cumulative Return | 14.7% |
| 7Y Cumulative Return | 37.7% |
Cash Flow & Liquidity |
|---|
| Revenue (TTM) |
| 1.4 kCr |
| Rev. Growth (Yr) | 0.50% |
| Earnings (TTM) | -186.28 Cr |
| Earnings Growth (Yr) | 569.1% |
Profitability | |
|---|---|
| Operating Margin | 7% |
| EBT Margin | -9% |
| Return on Equity | -20.84% |
| Return on Assets | -14.87% |
| Free Cashflow Yield | 0.49% |
| Cash Flow from Investing (TTM) | -142.06 Cr |
| Cash Flow from Operations (TTM) | 99.79 Cr |
| Cash Flow from Financing (TTM) | 141.59 Cr |
| Cash & Equivalents | 50.52 Cr |
| Free Cash Flow (TTM) | 42.47 Cr |
| Free Cash Flow/Share (TTM) | 3.19 |
Balance Sheet | |
|---|---|
| Total Assets | 1.25 kCr |
| Total Liabilities | 370.06 Cr |
| Shareholder Equity | 893.79 Cr |
| Current Assets | 466.21 Cr |
| Current Liabilities | 211.31 Cr |
| Net PPE | 658.39 Cr |
| Inventory | 150.29 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.16 |
| Debt/Equity | 0.23 |
| Interest Coverage | -7.49 |
| Interest/Cashflow Ops | 4.78 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend Yield | 0.11% |
| Shares Dilution (1Y) | 7.4% |
| Shares Dilution (3Y) | 7.5% |
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Profitability: Poor Profitability. Recent profit margins are negative at -13%.
Momentum: Stock has a weak negative price momentum.
Past Returns: Underperforming stock! In past three years, the stock has provided 2% return compared to 13.6% by NIFTY 50.
Technicals: SharesGuru indicator is Bearish.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Profitability: Poor Profitability. Recent profit margins are negative at -13%.
Momentum: Stock has a weak negative price momentum.
Past Returns: Underperforming stock! In past three years, the stock has provided 2% return compared to 13.6% by NIFTY 50.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 0.11% |
| Shares Dilution (1Y) | 7.4% |
| Earnings/Share (TTM) | -20.75 |
Financial Health | |
|---|---|
| Current Ratio | 2.21 |
| Debt/Equity | 0.23 |
Technical Indicators | |
|---|---|
| RSI (14d) | 51.01 |
| RSI (5d) | 50.73 |
| RSI (21d) | 45.14 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal | Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
Summary of BOROSIL RENEWABLES's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q1 FY26 earnings call for Borosil Renewables Limited, management provided a positive outlook reflecting strong domestic demand and anticipated improvements in sales and EBITDA. Key forward-looking points discussed include:
Financial Performance: The company reported sales of INR 332.26 crores, up 37% year-over-year, with an EBITDA of INR 92.53 crores (27.8% margin), representing a 211% increase from the corresponding quarter last year. Management expects continued rise in EBITDA margin due to favorable pricing trends.
Expansion Plans: A preferential issue of 70,93,874 equity shares for INR 379.52 crores has been approved to fund ongoing projects. The new project, expanding capacity to 600 TPD, is projected to be commissioned by the third quarter of FY26-27.
Domestic Demand Projections: Domestic solar glass demand is anticipated to reach 50 gigawatts in the current year, with solar module manufacturing capacity expected to rise from 90 gigawatts to 150 gigawatts by March 2027.
Market Dynamics: The anti-dumping duty on solar tempered glass imports from China and Vietnam has significantly stabilised selling prices, with average selling prices recorded at INR 138.1 per square meter, up from INR 105.5 per square meter in the previous quarter.
Strategic Focus: Following the insolvency of its German subsidiary, management intends to recalibrate focus towards Indian operations. The write-off of INR 325.91 crores related to the German subsidiary is expected to streamline future financial results.
Future Guidance: Management indicated that while improvements in selling prices are likely, any substantial changes will be moderate. EBITDA margins may increase by an additional couple of percentage points over the coming quarters.
These factors collectively suggest a robust outlook for Borosil Renewables, with a strong focus on domestic operations and product pricing stability amidst ongoing global challenges.
Understand BOROSIL RENEWABLES ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| PRADEEP KUMAR FAMILY TRUST (TRUSTEES- KIRAN KHERUKA SHREEVAR KHERUKA & REKHA KHERUKA) | 18.27% |
| BAJRANG LAL FAMILY TRUST(TRUSTEES PRADEEP KUMAR KHERUKA REKHA KHERUKA & SHREEVAR KHERUKA) | 18.27% |
| CROTON TRADING PRIVATE LIMITED | 9.34% |
| KIRAN KHERUKA | 4.07% |
| GUJARAT FUSION GLASS LLP | 2.24% |
| REKHA KHERUKA | 1.9% |
Detailed comparison of BOROSIL RENEWABLES against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Borosil Renewables Limited engages in the manufacture and sale of flat glass products in India and internationally. The company offers low iron textured solar glass for various applications in photovoltaic (PV) panels, flat plate collectors, and greenhouses. It provides Selene, an anti-glare solar glass suitable for PV installations near airports; and anti-soiling and antireflective coating solar glass. The company was formerly known as Borosil Glass Works Limited and changed its name to Borosil Renewables Limited in February 2020. Borosil Renewables Limited was incorporated in 1962 and is based in Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
1. Question: "Can you provide a more detailed project timeline and specific milestones for the new 600 TPD extension, especially regarding land acquisition?" Answer: "The expansion is a brownfield project at our current location, and the necessary land acquisition is complete. We expect the project to be commissioned between October and December of 2026. There are currently no factors foreseen that would cause delays."
2. Question: "What is the strategic vision for the European presence, particularly for the GMB plant?" Answer: "The GMB plant has been declared insolvent, and the insolvency process is managed by an administrator. As shareholders, we have limited influence over this, and we will continue acknowledging our customers from the Indian operations while the GMB situation plays out."
3. Question: "Is there any revised EBITDA margin guidance for FY26?" Answer: "We anticipate some improvement in margins; while we are currently at 28%, we expect them to increase by a couple of percent as prices trend upward monthly."
4. Question: "Are you expecting any further price increases in the coming financial year and how will it impact EBITDA margins?" Answer: "Price estimates can vary, but broadly, we expect slight increases that should boost our EBITDA margins. Increasing prices will contribute positively to cash conversion, and a target of 75%-80% cash flow conversion on EBITDA is reasonable."
5. Question: "What is the current average selling price, and how will it improve post-ADD?" Answer: "Our current average selling price is INR 138 per square meter. The import duties on Vietnamese glass should stabilize prices, allowing for some incremental improvements."
6. Question: "What is the domestic market size for solar glass and unit economics?" Answer: "Current market size reflects about 50 gigawatts of module production, with domestic glass production at 15 gigawatts, indicating a 35-gigawatt gap yet to fill."
7. Question: "What precautions and learnings has management taken from the GMB acquisition?" Answer: "The GMB acquisition was based on favorable market conditions, but external shocks led to demand loss. Our learning is to remain adaptable and responsive to market conditions, avoiding long-term commitments without substantiated demand."
8. Question: "Can we use GMB equipment for CAPEX in India?" Answer: "Yes, some of the equipment, especially processing lines, can be utilized in India. However, we need to evaluate alternatives and costs before making a final decision."
9. Question: "What kind of volume growth do you envisage for FY26?" Answer: "We expect 6% to 8% volume growth for FY26 compared to the last financial year, though actual figures may vary based on operational efficiencies."
10. Question: "Will we be able to recover anything from the GMB write-off?" Answer: "Currently, valuations indicate that assets may not exceed liabilities, thus making recovery unlikely. Should a future sale or better outcome arise, we would revisit this."
These summarized questions and answers provide insights into the company's operational outlook and key strategies, reflecting its focus on growth amidst challenges.
| PRADEEP KUMAR KHERUKA | 1.67% |
| SHREEVAR KHERUKA | 1.39% |
| SPARTAN TRADE HOLDINGS LLP | 0.82% |
| BOROSIL HOLDINGS LLP | 0.66% |
| ASSOCIATED FABRICATORS LLP | 0.17% |
| Association of person | 0% |
| SONARGAON PROPERTIES LLP | 0% |
| ALAKNANDA RUIA | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -7.00% |
| +40.90% |
| 9.06 |
| 2.78 |
| - |
| - |
| SURANASOL | Surana Solar | 132.46 Cr | 24.46 Cr | -1.60% | -40.50% | 897.33 | 5.42 | - | - |
| 317 |
| 404 |
| 409 |
| 387 |
| 390 |
| Profit Before exceptional items and Tax | 168.6% | 95 | 36 | -18.42 | -32 | -8.38 | -15.32 |
| Exceptional items before tax | 96.1% | -7.75 | -222.31 | 0 | 0 | 0 | 0 |
| Total profit before tax | 145.8% | 87 | -186.73 | -18.42 | -32 | -8.38 | -15.32 |
| Current tax | 33.3% | 25 | 19 | 7.78 | 0.45 | 0.02 | 0 |
| Deferred tax | 65.5% | -0.22 | -2.54 | 3.25 | -2.39 | 4.82 | -1.34 |
| Total tax | 50% | 25 | 17 | 11 | -1.95 | 4.83 | -1.33 |
| Total profit (loss) for period | 129.8% | 62 | -203.49 | -29.53 | -30.07 | -13.13 | -14.24 |
| Other comp. income net of taxes | -163.2% | -8.48 | 16 | 0.11 | -2.38 | 2.87 | -1.06 |
| Total Comprehensive Income | 127.5% | 53 | -187.99 | -29.42 | -32.45 | -10.26 | -15.3 |
| Earnings Per Share, Basic | 107.2% | 1.98 | -12.56 | -1.53 | -2.05 | -0.75 | -0.99 |
| Earnings Per Share, Diluted | 107.2% | 1.97 | -12.56 | -1.53 | -2.05 | -0.75 | -0.99 |
| 5.5% |
| 78 |
| 74 |
| 62 |
| 45 |
| 35 |
| 27 |
| Finance costs | 0% | 26 | 26 | 7.43 | 2.8 | 7.96 | 6.67 |
| Depreciation and Amortization | -5.3% | 108 | 114 | 50 | 42 | 42 | 32 |
| Other expenses | 3.8% | 542 | 522 | 320 | 241 | 163 | 124 |
| Total Expenses | 5% | 1,080 | 1,029 | 588 | 445 | 355 | 273 |
| Profit Before exceptional items and Tax | 305.9% | 47 | -21.34 | 119 | 220 | 153 | 1.28 |
| Total profit before tax | 305.9% | 47 | -21.34 | 119 | 220 | 153 | 1.28 |
| Current tax | 445.5% | 8.22 | -1.09 | 24 | 50 | 46 | 0 |
| Deferred tax | 188.3% | 5.17 | -3.72 | 6.64 | 4.15 | 17 | 0.82 |
| Total tax | 306.5% | 13 | -4.81 | 31 | 54 | 63 | 0.82 |
| Total profit (loss) for period | 282.6% | 33 | -16.52 | 89 | 166 | 90 | 0.45 |
| Other comp. income net of taxes | 13.5% | -0.28 | -0.48 | -0.15 | -0.3 | -0.62 | -0.26 |
| Total Comprehensive Income | 277.8% | 33 | -17 | 88 | 166 | 89 | 0.19 |
| Earnings Per Share, Basic | 168.7% | 2.56 | -1.27 | 6.789 | 12.738 | 7.56 | 0.04 |
| Earnings Per Share, Diluted | 168.7% | 2.56 | -1.27 | 6.789 | 12.738 | 7.56 | 0.04 |
| -6.1% |
| 658 |
| 701 |
| 786 |
| 833 |
| 911 |
| 932 |
| Capital work-in-progress | 176.5% | 48 | 18 | 24 | 8.51 | 14 | 14 |
| Non-current investments | -39.5% | 53 | 87 | 69 | 69 | 12 | 12 |
| Loans, non-current | -100.1% | 0.74 | 309 | 83 | 80 | 109 | 101 |
| Total non-current financial assets | -87% | 56 | 425 | 167 | 161 | 139 | 126 |
| Total non-current assets | -32% | 786 | 1,156 | 988 | 1,011 | 1,072 | 1,082 |
| Total assets | -17.3% | 1,253 | 1,514 | 1,348 | 1,349 | 1,422 | 1,391 |
| Borrowings, non-current | -19.4% | 130 | 161 | 197 | 235 | 265 | 266 |
| Total non-current financial liabilities | -19.4% | 130 | 161 | 198 | 235 | 265 | 266 |
| Provisions, non-current | - | 0 | 0 | 4.38 | 3.77 | 0 | 2.8 |
| Total non-current liabilities | -22% | 150 | 192 | 235 | 269 | 306 | 301 |
| Borrowings, current | -18.2% | 73 | 89 | 142 | 119 | 109 | 97 |
| Total current financial liabilities | -2.8% | 172 | 177 | 228 | 205 | 215 | 197 |
| Provisions, current | -1.9% | 7.65 | 7.78 | 3.08 | 2.26 | 1.04 | 1.1 |
| Current tax liabilities | 10.7% | 7.96 | 7.29 | 0 | 0 | 1.31 | 1.31 |
| Total current liabilities | -10.3% | 209 | 233 | 242 | 219 | 230 | 212 |
| Total liabilities | -15.6% | 359 | 425 | 477 | 488 | 535 | 514 |
| Equity share capital | 0% | 13 | 13 | 13 | 13 | 13 | 13 |
| Total equity | -17.9% | 894 | 1,089 | 871 | 862 | 886 | 878 |
| Total equity and liabilities | -17.3% | 1,253 | 1,514 | 1,348 | 1,349 | 1,422 | 1,391 |
| - |
| 0 |
| 0 |
| 0 |
| -2.8 |
| - |
| - |
| Interest received | - | 0 | 0 | 0 | -2.04 | - | - |
| Income taxes paid (refund) | -213.4% | -2.81 | 4.36 | 15 | 66 | - | - |
| Net Cashflows From Operating Activities | 103.3% | 186 | 92 | 26 | 173 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 0.65 | 0 | - | - |
| Cash payment for investment in partnership firm or association of persons or LLP | - | 18 | 0 | 11 | 0 | - | - |
| Proceeds from sales of PPE | 101% | 1.01 | 0.02 | 0.58 | 0.13 | - | - |
| Purchase of property, plant and equipment | -27.3% | 57 | 78 | 315 | 373 | - | - |
| Proceeds from sales of investment property | - | 0 | 0 | 0 | 372 | - | - |
| Purchase of investment property | - | 0 | 0 | 0 | 261 | - | - |
| Proceeds from government grants | -101.9% | 0 | 54 | 0 | 0 | - | - |
| Purchase of other long-term assets | - | 0 | 0 | 112 | 0 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | -104.8% | 0 | 22 | 0 | 0 | - | - |
| Interest received | -49% | 1.51 | 2 | 1.52 | 2.06 | - | - |
| Income taxes paid (refund) | - | -0.05 | 0 | 0 | 0 | - | - |
| Other inflows (outflows) of cash | - | -269.33 | 0 | 0 | 0 | - | - |
| Net Cashflows From Investing Activities | -953.7% | -341.89 | -31.54 | -220.68 | -259.99 | - | - |
| Proceeds from issuing shares | 76100% | 191 | 0.75 | 3.54 | 0 | - | - |
| Payments of other equity instruments | -117.9% | 0 | 6.59 | 0 | 0 | - | - |
| Proceeds from exercise of stock options | - | 0 | 0 | 0 | 3.58 | - | - |
| Proceeds from borrowings | -101.8% | 0 | 57 | 222 | 98 | - | - |
| Repayments of borrowings | 60% | 105 | 66 | 18 | 18 | - | - |
| Payments of lease liabilities | - | 0.29 | 0 | 0 | 0 | - | - |
| Interest paid | -12.9% | 28 | 32 | 19 | 5.6 | - | - |
| Other inflows (outflows) of cash | - | 85 | 0 | -3.66 | 18 | - | - |
| Net Cashflows from Financing Activities | 397.3% | 142 | -46.42 | 185 | 96 | - | - |
| Net change in cash and cash eq. | -214.3% | -13.86 | 14 | -10.4 | 9.31 | - | - |