Industrial Products
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Valuation | |
|---|---|
| Market Cap | 6.1 kCr |
| Price/Earnings (Trailing) | -33.78 |
| Price/Sales (Trailing) | 4.04 |
| EV/EBITDA | 288.46 |
| Price/Free Cashflow | 204.37 |
| MarketCap/EBT | -70.24 |
| Enterprise Value | 6.29 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 1.51 kCr |
| Rev. Growth (Yr) | 4.5% |
| Earnings (TTM) | -24.35 Cr |
| Earnings Growth (Yr) | 1.26% |
Profitability | |
|---|---|
| Operating Margin | 14% |
| EBT Margin | -6% |
| Return on Equity | -2.73% |
| Return on Assets | -1.94% |
| Free Cashflow Yield | 0.49% |
Growth & Returns | |
|---|---|
| Price Change 1W | -4.5% |
| Price Change 1M | -15.2% |
| Price Change 6M | -24.6% |
| Price Change 1Y | -18.6% |
| 3Y Cumulative Return | -2.1% |
| 5Y Cumulative Return | 9.3% |
| 7Y Cumulative Return | 33.7% |
Cash Flow & Liquidity | |
|---|---|
| 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 | 21.36 Cr |
| Free Cash Flow (TTM) | 42.47 Cr |
| Free Cash Flow/Share (TTM) | 3.19 |
Balance Sheet | |
|---|---|
| Total Assets | 1.25 kCr |
| Total Liabilities | 358.8 Cr |
| Shareholder Equity | 891.95 Cr |
| Current Assets | 496.04 Cr |
| Current Liabilities | 209.03 Cr |
| Net PPE | 658.39 Cr |
| Inventory | 150.29 Cr |
| Goodwill | 2.47 L |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.16 |
| Debt/Equity | 0.23 |
| Interest Coverage | -5.81 |
| Interest/Cashflow Ops | 4.78 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend Yield | 0.11% |
| Shares Dilution (1Y) | 7.4% |
| Shares Dilution (3Y) | 7.5% |
Investor Care | |
|---|---|
| Dividend Yield | 0.11% |
| Shares Dilution (1Y) | 7.4% |
| Earnings/Share (TTM) | -12.89 |
Financial Health | |
|---|---|
| Current Ratio | 2.37 |
| Debt/Equity | 0.23 |
Technical Indicators | |
|---|---|
| RSI (14d) | 13.93 |
| RSI (5d) | 0.00 |
| RSI (21d) | 31.85 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Buy |
| SharesGuru Signal | Sell |
| RSI Signal | Buy |
| RSI5 Signal | Buy |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal | Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Good revenue growth. With 93.4% growth over past three years, the company is going strong.
Past Returns: Underperforming stock! In past three years, the stock has provided -2.1% return compared to 13.3% by NIFTY 50.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -15.2% in last 30 days.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Good revenue growth. With 93.4% growth over past three years, the company is going strong.
Past Returns: Underperforming stock! In past three years, the stock has provided -2.1% return compared to 13.3% by NIFTY 50.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -15.2% in last 30 days.
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 earnings call for Q3 FY '26, management provided an optimistic outlook, highlighting several key points regarding future expectations and strategies.
Sales and Revenue Growth: Borosil Renewables achieved an all-time high quarterly sales of INR 386.5 crores, a 40% increase from the previous year. The management anticipates overall consistent revenue, projecting that the upcoming quarters will largely mirror current performance due to high production capacity.
Capacity Expansion: The company is currently increasing production capacity by 60%, with expansion expected to complete by December '26, ramping up operations gradually. Achieved production targets are projected to reach full capacity around March '27, leading to a significant anticipated increase in revenue by 60% thereafter.
Market Dynamics: With India's expected module manufacturing capacity rising from 145 gigawatts to 200 gigawatts by 2027, management sees opportunities for growth, especially with the Indo-European Union trade agreement facilitating exports.
Demand for Solar Modules: Management expects approximately 40 gigawatts of solar installations in FY '26, which implies a module glass consumption of about 55 gigawatts, presenting a robust demand outlook.
Raw Material and Price Stability: Costs are expected to remain stable amidst market dynamics, and management noted no significant inflationary pressures on raw material costs. The introduction of government policies (ALMM-II and ALMM-III) is anticipated to drive domestic cell manufacturing and contribute to a stable supply chain.
Return on Capital: Post-expansion, the expected Return on Capital Employed (ROCE) is projected to exceed 25%, indicating efficient use of capital in driving growth.
Overall, the management conveyed a strong position moving forward, with resilience in domestic demand patterns and planned expansions aligning with strategic market opportunities.
Understand BOROSIL RENEWABLES ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| BAJRANG LAL FAMILY TRUST(TRUSTEES PRADEEP KUMAR KHERUKA REKHA KHERUKA & SHREEVAR KHERUKA) | 18.27% |
| PRADEEP KUMAR FAMILY TRUST (TRUSTEES- KIRAN KHERUKA SHREEVAR KHERUKA & REKHA KHERUKA) | 18.27% |
| Association of person | 0% |
Distribution across major stakeholders
Detailed comparison of BOROSIL RENEWABLES against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| BOROLTD | Borosil | 2.68 kCr | 1.21 kCr | -15.20% | -36.30% | 35.59 | 2.22 | - | - |
| SURANASOL | Surana Solar | 109.53 Cr | 16.38 Cr |
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.
Vikram Sharma: What would be a trigger for announcing further capacity expansion if demand remains strong?
Pradeep Kheruka: We are considering further capacity expansion due to strong demand. However, with many new participants entering the market, we are cautious not to rush our expansion plans. Currently, we're increasing production by 60%. While we are aware of the increased demand, we need to carefully manage our resources and ensure we can meet that demand efficiently.
Vikram Sharma: What will be the impact of rupee depreciation on our selling price?
Ashok Jain: The average realization increased from INR 147.50 to nearly INR 150 due to rupee depreciation. While this has provided some benefit, it's marginal, not significant.
Nidhi Shah: What are the timelines for divestment from the German subsidiary?
Pradeep Kheruka: The German subsidiary has filed for insolvency, and a court-appointed administrator is assessing the situation. We have provisioned for the entire investment amount, so we won't face further losses. The timeline for potential recovery remains uncertain until the court's recommendations are provided.
Nidhi Shah: Will the expansion be phased out or completed by December '26?
Pradeep Kheruka: We expect to complete the expansion by March '27, but indications suggest we might finish by December '26. We plan to stabilize one furnace before starting the second to ensure efficiency.
Nidhi Shah: Where do you see solar glass prices heading?
Pradeep Kheruka: Prices depend on the government's minimum import price policy. It's hard to predict future prices due to market volatility. Import prices are set against our local prices, but we're comfortable with current pricing arrangements.
Deepak Purswani: What portion of consumption currently comes from imports?
Pradeep Kheruka: Currently, imports account for about 70% of consumption, but this includes a substantial amount from China. The extension of trade policies will affect long-term pricing and availability.
Karan Sanwal: What are the electricity and gas proportions in our costs?
Ashok Jain: Power and fuel combined make up about 32% of production costs. We expect renewable energy deployment to save around INR 1.25 crore per month once operational. Recent increases in natural gas prices have been managed without significantly affecting margins.
Karan Sanwal: How long will it take to stabilize the new lines after commissioning?
Ashok Jain: After firing the furnace in December '26, we typically budget a three-month trial period for stabilization. However, it might be quicker, depending on operational readiness.
Vanchita Amlani: What is the revenue visibility for the next four quarters?
Pradeep Kheruka: Revenue is expected to remain stable since we are operating at full production capacity. Fluctuations might occur within a few percentage points but no major changes are anticipated.
Mehul Panjwani: What positive developments can we expect from the budget for our company?
Pradeep Kheruka: It's difficult to predict, but support for antidumping duties has already been well-received. Future initiatives may include reducing restrictions on renewable energy project capacity could be beneficial.
Mehul Panjwani: Are all negative developments with the German subsidiary resolved?
Pradeep Kheruka: According to legal advice, we've provisioned properly and deconsolidated the subsidiary, so we don't foresee new liabilities. However, future recoveries seem unlikely as the court now manages the company.
Distribution across major institutional holders
| -10.80% |
| -35.00% |
| 556.5 |
| 6.69 |
| - |
| - |
| 286 |
| 317 |
| 404 |
| 409 |
| 387 |
| Profit Before exceptional items and Tax | 11.7% | 106 | 95 | 36 | -18.42 | -32 | -8.38 |
| Exceptional items before tax | 282.9% | 17 | -7.75 | -222.31 | 0 | 0 | 0 |
| Total profit before tax | 40.7% | 122 | 87 | -186.73 | -18.42 | -32 | -8.38 |
| Current tax | 4.2% | 26 | 25 | 19 | 7.78 | 0.45 | 0.02 |
| Deferred tax | -320.5% | -4.13 | -0.22 | -2.54 | 3.25 | -2.39 | 4.82 |
| Total tax | -12.5% | 22 | 25 | 17 | 11 | -1.95 | 4.83 |
| Total profit (loss) for period | 62.3% | 100 | 62 | -203.49 | -29.53 | -30.07 | -13.13 |
| Other comp. income net of taxes | -13.8% | -9.79 | -8.48 | 16 | 0.11 | -2.38 | 2.87 |
| Total Comprehensive Income | 71.2% | 90 | 53 | -187.99 | -29.42 | -32.45 | -10.26 |
| Earnings Per Share, Basic | 532.7% | 7.2 | 1.98 | -12.56 | -1.53 | -2.05 | -0.75 |
| Earnings Per Share, Diluted | 534% | 7.15 | 1.97 | -12.56 | -1.53 | -2.05 | -0.75 |
| 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 | - | - |