Borosil Renewables Ltd

Borosil Renewables Ltd trading window closed from October 01, 2026 until the end of 48 hours after the declaration of unaudited financial results for the quarter and half year ending September 30, 2026.

Key Update

• Board approves revised project cost up to Rs 1100 crore for 600 TPD expansion (SG-4 & SG-5).
• Commissioning targeted by end-March 2027; timeline extended due to supply-chain disruptions.
• Capacity will rise from 1000 to 1600 TPD, boosting production and sales.
• Funding to be through internal funds; no borrowings increase.
• Policy incentives include interest subsidy, power tariff subsidy, capital subsidy, and EPF reimbursement under Gujarat policy.
• Existing capacity is 1000 TPD and fully utilized.

Interview details

• Interview with Executive Chairman Pradeep Kumar Kheruka on CNBC Bajar on Sep 10, 2026, covering general business update.
• Interview available on YouTube; intimation posted on Borosil Renewables website.

Meeting Details

• Date & time: Wednesday, September 23, 2026 at 2:00 pm IST
• Mode: In-person, Physical (Group / One-to-One)
• Event organizer: JM Financial Environmental & Energy Conclave

Participants

• Company representatives will interact with brokers, analysts, PMS, family offices, and institutions

Purpose

• Purpose: investor dialogue at environmental and energy conclave

Business overview

• India's leading solar glass manufacturer supplying high-performance glass domestically and internationally.
• Current capacity 1,000 TPD; expansion to 1,600 TPD by Apr-Jun 2027.
• World's first antimony-free textured glass and fully tempered 2.0mm textured glass.
• Rooftop solar solutions line: panels, inverters, batteries, installation and service.
• Domestic supply advantage with shorter lead times direct to module manufacturers.
• International customers in Western Europe and Türkiye; expanding to Americas and MENA.

Operational highlights

• FY26 turnover of ₹1,535 Cr with 1,000 TPD capacity in operation.
• Board-approved expansion: SG-4 and SG-5 totaling 600 TPD to be commissioned by Dec 2026.
• Post-expansion run-rate turnover guided to ₹2,500 Cr (~60% higher than FY26).
• Expansion funded by cash accruals; net cash positive after capex as of 31 Mar 2027.
• Domestic demand gap: current 2,600 TPD vs 11,000 TPD FY26; expansion to 7,900 TPD by Mar 2027.
• C&I rooftop solar growth and policy support driving demand.

Financial performance

• Turnover FY26 ₹1,535 Cr; 1,000 TPD facility in operation.
• Post-expansion turnover run-rate ~₹2,500 Cr; ~60% higher than FY26.
• EBITDA margin expected to improve ~3% with scale and efficiencies.
• Net cash positive position expected after capex; cash accruals to fund next growth phase.

Capital structure & liquidity

• No debt or equity actions disclosed; funding via cash accruals.
• Capex to add 600 TPD; commissioned by Dec 2026; impact on liquidity monitored.

Strategic priorities & outlook

• Expand capacity to 1,600 TPD; strong growth in solar glass demand.
• Scale domestic supply to close gap with 11,000 TPD demand forecast for FY26.
• Pursue end-to-end rooftop solutions; dual-channel distribution model.
• Leverage government programs (tariffs, PLI, Kusum) to boost domestic manufacturing.

Risks & mitigation

• Domestic supply gap supports expansion; import duties pose risk.
• German subsidiary GMB Glasmanufaktur Brandenburg GmbH (350 TPD) insolvency noted.
• Mitigation: capacity ramp-up and diversified geographies to de-risk.

Governance & leadership

• Board comprises Executive Chairman P.K. Kheruka, CFO Sunil Roongta, and independent directors.
• Group structure highlights Borosil Renewables, Borosil Limited and Borosil Scientific Limited.

Meeting Details

• Date and time: Monday, 7 September 2026, 11:00 A.M.–12:30 P.M. IST.
• Type/Mode: Physical, group meeting with analysts/institutional investors.
• Venue: BKC, Mumbai.
• Event: Analysts/Institutional Investors Meeting.

Meeting Details

• Date and time: Friday, September 04, 2026 at 4:00 PM IST.
• Mode: Virtual, meeting type: Individual/Group Meet.
• Event/organiser: Omkara Capital Investor Conference.
• Key company participants: Company representatives (roles not specified).
• Purpose: Investor interaction with brokers, analysts, PMS, family offices and institutions.

AGM details

• AGM held on August 27, 2026 at 11:00 AM IST via VC/OAVM.
• Voting cut-off date: August 20, 2026.
• Total shareholders on record date: 2,28,027.

Key resolutions and outcomes

• Resolution 1 (Ord): Adoption of standalone and consolidated financial statements approved.
• Resolution 2 (Ord): Re-appointment of Mr. Pradeep Kumar Kheruka approved.
• Resolution 3 (Ord): Re-appointment of Chaturvedi & Shah LLP as Statutory Auditors approved.
• Resolution 4 (Ord): Ratification of remuneration of Cost Auditors approved.
• Resolution 5 (Special): Remuneration terms for Mr. Ashok Jain approved.
• Resolution 6 (Special): Fund-raising via issue of equity shares approved.
• Resolution 7 (Special): Remuneration and appointment terms for Mr. Sunil Roongta approved.
• All resolutions passed with requisite majority as per Scrutinizer's report.

Director changes

• Re-appointment of Mr. Pradeep Kumar Kheruka by rotation approved.
• Sunil Roongta appointed Whole-Time Director and KMP for 2027-29 term.

Auditor appointments

• Statutory auditors re-appointed for second five-year term.
• Cost Auditor remuneration ratified.

Related party transactions

• No material related party transactions approved.

AGM Details

• 63rd AGM held on Aug 27, 2026 at 11:00 IST via Video Conferencing.
• Concluded at 11:52 IST.

Resolutions Presented

• Ordinary: Adoption of standalone and consolidated financial statements for FY ended Mar 31, 2026.
• Ordinary: Re-appointment of Pradeep Kumar Kheruka by rotation.
• Ordinary: Re-appointment of M/s Chaturvedi & Shah LLP as Statutory Auditors for a second five-year term.
• Special: Ratify remuneration of Cost Auditors.
• Special: Remuneration of Mr. Ashok Jain as Non-Executive Non-Independent Director for FY 2026-27.
• Special: Raise funds by issue of equity shares/securities.
• Special: Re-appointment and remuneration of Sunil Roongta as Whole-Time Director and KMP (May 27, 2027–Jul 22, 2029).

Voting Status

• E-voting results and Scrutiniser’s Report to be submitted separately.
• Results to be hosted on company website and stock exchanges.