Borosil Ltd

Borosil Ltd trading window closed from Oct 01, 2026 till the end of 48 hours after the declaration of Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ending September 30, 2026

Regulatory update

• Final Findings dated Sept 24, 2026, recommending five-year anti-dumping duty on China borosilicate glassware.
• Borosil filed as domestic industry; sole Indian producer of the article.
• DGTR found dumped imports have materially retarded domestic industry establishment.
• Positive and significant dumping margins reported.
• Anti-dumping duty to be imposed for five years from government notification.
• Final notification by Central Government is not yet issued; monitoring ongoing.
• Positive development for Borosil; expected to level the competitive environment in India.
• Company will disclose further as required under SEBI LODR.
• Intimation uploaded on Borosil website.

AGM Details

• AGM date: 24 September 2026.
• Voting via remote e-voting (Sept 21–23) and at the AGM.
• Record date for voting: 17 September 2026 (corrected).
• Mode: e-voting and at the AGM.

Key Resolutions

• Resolution 1 (Ord): Adopt audited standalone and consolidated financial statements for FY ended 31 March 2026.
• Resolution 2 (Ord): Re-appoint Rajesh Kumar Chaudhary, retiring by rotation.
• Resolution 3 (Ord): Re-appoint Chaturvedi & Shah LLP as Statutory Auditors.
• Resolution 4 (Ord): Approve Material Related Party Transactions with Borosil Scientific Limited.
• Resolution 5 (Special): Continue remuneration terms of MD Shreevar Kheruka.
• Resolution 6 (Special): Raise funds via further issue of securities up to 250 crores.
• Resolution 7 (Special): Amend Borosil Limited - Employee Stock Option Scheme 2020.
• Resolution 8 (Special): Approve secondary acquisition of ESOP shares via trust route.
• Resolution 9 (Special): Provide funds for purchase of own shares via ESOP trust.

Voting Results

• Resolution 1: Passed with near-unanimous in-favour.
• Resolution 2: Passed; in-favour ~99.88%.
• Resolution 3: Passed; in-favour ~95.03%.
• Resolution 4: Passed; in-favour ~99.99%.
• Resolution 5: Passed; in-favour ~99.71%.
• Resolution 6: Passed; in-favour ~99.999%.
• Resolution 7: Passed; in-favour ~99.90%.
• Resolution 8: Passed; in-favour ~99.999%.
• Resolution 9: Passed; in-favour ~99.999%.

Director Changes

• Re-appointment of Rajesh Chaudhary approved.
• MD remuneration terms continued.

Auditor Appointments

• Re-appointment of Chaturvedi & Shah LLP as Statutory Auditors approved.

Material Related Party Transactions

• Approval of Material Related Party Transactions with Borosil Scientific Limited.

Other Material Approvals

• Amendments to ESOP 2020.
• Secondary acquisition via trust route for ESOP 2020.
• Provision of funds for ESOP trust to purchase shares.

AGM Details

• AGM held Sep 24, 2026; voting via remote e-voting Sep 21–23 and at AGM.
• Voting rights cut-off date: Sep 17, 2026.
• All resolutions passed with requisite majority.

Dividend

• No dividend proposed or declared.

Ordinary Resolutions

• Adoption of financial statements – passed with 99.9998% in favour.
• Re-appointment by rotation of Rajesh Kumar Chaudhary – passed with 99.8753% in favour.
• Re-appointment of M/s Chaturvedi & Shah LLP as Statutory Auditors – passed with 95.0333% in favour.

Special Resolutions

• Material Related Party Transactions with Borosil Scientific Limited – passed with 99.9946% in favour.
• Continuation of MD Shreevar Kheruka's remuneration terms – passed with 99.7077% in favour.
• Raising funds via further issue of securities up to 250 crores – passed with 99.9998% in favour.
• Amendments to Borosil Limited - Employee Stock Option Scheme 2020 – passed with 99.8973% in favour.
• Secondary acquisition of ESOP shares via trust – passed with 99.9992% in favour.
• Provision of funds for ESOP trust to purchase company shares – passed with 99.9992% in favour.

Directors & Auditors

• Re-appointment by rotation of Rajesh Chaudhary – passed.
• Statutory Auditor re-appointment: Chaturvedi & Shah LLP – passed.
• Remuneration continuation for MD Shreevar Kheruka – passed.

Funding and execution update

• Board reframed project: facility to be set up and funded by Borosil Scientific Limited (BSL).
• Location Bharuch, Gujarat, with dedicated glassware production lines (original plan context).
• Previously estimated capex Rs 42 crore (original plan).
• Capex to be incurred by BSL, subject to requisite approvals.
• Existing manufacturing arrangement with BSL continues to support long-term requirements.
• Growth plans and market expansion remain aligned with strategic priorities.
• Subject to requisite approvals; funding shift and execution remain contingent.

AGM notice and access

• 16th AGM scheduled Sept 24, 2026 at 11:00 IST, via VC/OAVM.
• Annual Report 2025-26 and AGM Notice sent to registered-email shareholders; unregistered shareholders can access via web link.
• Web link provided to access Annual Report and Notice; NSDL e-voting login details included.
• AGM to be held via VC/OAVM per MCA circulars and LODR; e-voting available.
• Cut-off date for e-voting and attendance: Sept 17, 2026.
• Remote e-voting window: Sept 21-23, 2026.
• Only shareholders as on cut-off date are entitled to vote or attend.
• Voting rights are proportional to shareholding on cut-off date.
• Instructions for login credentials and help resources included.
• No physical attendance; proceedings deemed at registered office.

Overview

• BRSR FY2025-26 filed; standalone reporting; assurance not applicable.

Business mix and turnover

• Turnover mix: Manufacturing 50.89%, Wholesale 45.57%, Retail 3.54%.

Exports and workforce

• Exports contributed 3.21% of total turnover.
• Total employees 724; permanent 699; female 51 (7%).

Governance

• Board: 7 directors; 1 female (14.29%).

Energy and renewable capacity

• Total energy: 412,654 GJ; non-renewable electricity 205,284 GJ; intensity 3.44e-5.

Renewable energy expansion

• Solar capacity added: 20 MWp in March 2026; total ~35 MWp.

Water management

• Jaipur plant groundwater 55,089 kL; total withdrawal 55,106 kL; Neer audit.

Waste and ZLD

• Waste: total 2,735 MT; 2,544 MT recycled; hazardous 62.42 MT; ZLD 120 KLD.

CSR and aspirational districts

• CSR spend in aspirational districts: Gujarat ₹5.0m; MP ₹30.0m.

Financial performance

• Revenue: ₹1,195.9 cr; up 8% YoY.
• PAT (Standalone): ₹75.6 cr; up 1.8% YoY.
• EPS Basic: ₹6.32.
• Dividend: Nil for FY2025-26.

Capex & expansion

• Bharuch glassware capex ₹42 cr; commissioning by end of Q3 FY27.
• Jaipur glass furnace expansion: 25 TPD to 32 TPD; capex ₹50 cr.
• Stylenest India: vacuum-insulated stainless facility; 3 lines; 3.6 mn units.
• Solar energy: Phase-3 20 MWp; 16.932 MWh BESS; ~28,000 MWh/year.
• Jaipur facility Gold Medal at India Green Manufacturing Challenge 2025.

Governance

• Board: 7 directors; MD Shreevar Kheruka; 4 independent; 1 woman.