Borosil Scientific Ltd

Borosil Scientific Ltd - Closure of Trading Window from October 01, 2026 till the end of 48 hours after the declaration of Un-audited Financial Results (Standalone & Consolidated) for the quarter and half year ending September 30, 2026

AGM Details

• Date: Sep 25, 2026; mode: hybrid physical plus video conferencing.
• Shareholders on record: 61,677.
• Video conferencing attendees: 90.
• Voting-right cut-off date: Sep 18, 2026.

Ordinary Resolutions

• Adopt financial statements for year ended Mar 31, 2026; reports approved.
• Re-appointment by rotation of director retiring by rotation.
• Approve material related party transactions with Borosil Limited.
• Appoint Vinayak Patankar as Whole-time Director, CEO and KMP.

Special Resolutions

• Remuneration for Whole-time Director, CEO and KMP approved.
• Fund-raising via issuance of equity shares/securities approved.
• Amend ESOP schemes; ESOPs via Trust approved.
• ESOP secondary acquisition route via Trust approved.
• Trust-based ESOP funds for purchase of own shares approved.

Dividend

• Dividend proposal: Not announced in the filing.

AGM Details

• AGM held on 25 Sep 2026 via VC/OAVM from 11:00 to 12:09 IST.
• Remote e-voting 22–24 Sep 2026; AGM e-voting available during meeting.

Resolutions

• i) Ordinary: adopt standalone and consolidated financial statements for FY 2025-26.
• ii) Ordinary: re-appointment of Pradeep Kumar Kheruka by rotation.
• iii) Special: approve material related party transactions with Borosil Limited.
• iv) Ordinary: re-appoint Vinayak Patankar as Whole-time Director & CEO and KMP.
• v) Special: approve remuneration to Vinayak Patankar as WTD & CEO and KMP.
• vi) Special: raise funds via issuance of equity shares/securities.
• vii) Special: amendments to Employee Stock Option Schemes.
• viii) Special: secondary acquisition of shares through Trust for ESOS.
• ix) Special: funds for purchase of own shares by ESOS Trust.

Voting status

• e-voting results and scrutiniser's report to be intimated separately.

Director changes

• Kheruka re-appointed by rotation as director.
• Patankar re-appointed as Whole-time Director & CEO and KMP.
• Remuneration to Patankar approved for WTD/CEO and KMP.

Resignation of Senior Management Personnel

• Kailash Motwani resigns as Head - Operations of Goel Scientific Glass Works (subsidiary).
• He is designated as Borosil Senior Management Personnel; cessation effective Sept 23, 2026.

Key Update

• Board approves expansion of glassware capacity by adding a new Bharuch facility, Gujarat.
• Existing capacity is about 15 lakh units per annum with ~87% utilization.
• Proposed capacity expansion to about 108 lakh units per annum.
• Commercial production from the new facility expected by March 2027.
• Estimated capex of Rs 60 crores funded via internal accruals or borrowings.
• Rationale: to meet Borosil Limited demand and improve utilization; possible subsidies under Viksit Gujarat Industrial Policy 2026.

Financial performance

• Standalone revenue ₹427.53 crores, up 8.93% YoY.
• Consolidated revenue ₹467.34 crores, up 6.58% YoY.
• EBITDA margins: Standalone 18.76%, Consolidated 15.35%.
• Standalone PAT ₹39.72 crores; PAT margin 9.29%.
• Consolidated PAT ₹34.58 crores; growth 29.41%.
• Net cash ₹13,498.78 lakhs at 31-Mar-2026.
• No dividend declared for FY2025-26.
• On-time delivery: 95% within 24 hours.

Geography & segments

• Segment revenue: Lab Glass & Process System ₹29,155.68 lakhs; Glassware ₹13,035.52; Others ₹561.88.
• Domestic revenue ₹37,227.33 lakhs; Export ₹5,525.75 lakhs.
• Goel Scientific Glass Works Limited is a 99.37% subsidiary; FY2025-26 revenue ₹4,496.65 lakhs; PAT (468.85) lakhs.

Manufacturing footprint

• Manufacturing locations: Bharuch, Pune, Nashik, Vadodara.
• Four warehouses; 150+ channel partners; 4,500+ SKUs.
• Nashik vial lines automated; TPM Significant Award at Bharuch Plant.

Capital & liquidity

• Equity share capital increased to ₹889.47 lakhs; 8,89,47,050 shares.
• Credit rating reaffirmed by CARE; long-term and short-term ratings updated.
• Dividend policy exists; no dividend declared for FY26.

Subsidiaries & governance

• Goel Scientific Glass Works Limited is a material subsidiary; 99.37% stake.
• Statutory auditors: Chaturvedi & Shah LLP; Secretarial: Amogh Diwan & Associates.
• Board comprises six directors; three independent; Vinay Patankar is CEO.

ESOP & related matters

• SP-ESOP 2023: 521,139 options; trustee administration planned.
• BSL ESOS: 4,400,000 options; 12,48,925 outstanding; 3,07,125 exercisable.
• Discount for new ESOPs raised from 10% to 20%.

Related party transactions

• Material RPTs with Borosil Limited require shareholder approval.
• FY25-26: Rent ₹370.25 lakh; shared services ₹1,596.00 lakh.
• Sale of glassware to BL ₹5,812.63 lakh; BL rents ₹11.25 lakh.

CSR & sustainability

• CSR spend ₹65.59 lakh; education, animal welfare, health programmes.
• CSR Committee met 2 times in FY25-26.
• ESG metrics: 3% Scope 1+2 emission reduction; 6,039 kL water recycled; 35% gender diversity.

AGM Details

• Date: 25 September 2026; Time: 11:00 IST; Mode: VC/OAVM.

Key Resolutions

• Adopt standalone and consolidated financial statements for FY2025-26.
• Re-appoint Pradeep Kumar Kheruka as Non-Executive Director by rotation.
• Re-appoint Vinayak Patankar as Whole-time Director & CEO and KMP.
• Approve material related party transactions with Borosil Limited (RPT).
• Remuneration to Vinayak Patankar as WTD/CEO and KMP.
• Raise funds via equity or other securities up to 250 crore.
• Amend SP-ESOP 2023 to enable Trust route.
• Amend BSL ESOS to raise discount to 20% and Trust administration.
• Authorize secondary acquisition by Trust up to 44,47,352 shares.

Voting Results & Dividend

• Voting results not disclosed in the filing.
• Dividend: No dividend proposed for FY2025-26.

Directors & Auditors

• Board composition unchanged during FY2025-26.
• Statutory Auditors: Chaturvedi & Shah LLP; five-year term.
• Secretarial Auditors: Amogh Diwan & Associates; five-year term.

Material Related Party Transactions

• RPTs with Borosil Limited include sale/purchase of goods, shared services, and rent.

Other Significant Approvals

• Amendments to ESOP schemes to introduce Trust route and related governance changes.