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Borosil Renewables Ltd

₹ 5436.39%
16 Jan 4:01 p.m. – close price
🔗borosilrenewables.com•BSE: 502219•NSE: BORORENEW
Market Cap₹ 7,607 Cr.
Current Price₹ 543
High / Low₹ 721
Stock P/E60.6
Book Value₹ 67.1
Dividend Yield0.00 %
ROCE5.69 %
ROE3.43 %
Face Value₹ 1.00
Sales₹ 1,313 Cr.
OPM22.8 %
Mar Cap₹ 7,607 Cr.

ABOUT

Borosil Renewables is engaged in manufacturing extra clear patterned glass and Low Iron Solar Glass for application in Photovoltaic panels, Flat plate collectors and Greenhouses. (Source: 202003-01 Annual Report Page No:188)

KEY POINTS

Market ShareThe company is the largest low-iron textured solar glass manufacturer in India with amarket share of more than 20%. It also has a65% share of Germany’s solar glass market, through its overseas subsidiaries.[1]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsCapacity Expansion And ProductsPreferential IssuanceRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Borosil Renew.542.6060.657606.660.0045.82429.00378.4442.485.691313.2122.84125.3966.768.012.340.23
2.Borosil Scienti.115.8056.851029.990.002.84-67.12106.903.8110.31433.819.1018.112.892.585.380.02
3.Sejal Glass790.0046.04900.600.008.12231.82103.9968.9013.53310.3415.1419.568.0314.394.274.10
4.Agarwal Toughene108.658.92192.040.0012.26170.0445.88105.8324.3878.9034.9921.5012.261.8116.490.20
5.Agarwal Float38.0011.0527.520.001.45-28.5738.2117.6417.6077.796.532.491.451.378.870.85
6.Agarwal Fortune18.6935.706.430.000.01-75.002.29349.0225.317.205.280.180.019.0411.952.70
–Median: 4 Co.329.251.45965.30.010.19200.93105.4455.6911.92372.0718.9920.5310.145.294.820.22

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
169161188238280241227241266275327332378
Expenses
127128154188259222219215218256257245255
Operating Profit
42343450211882748197087124
Other Income
210476453527-320-32
Profit before tax
33301618-7-15-18-517-1145-25966
Tax %
26%25%26%26%-16%-28%-24%-27%28%-18%26%5%31%
Net Profit
24221214-6-11-13-413-933-27246
EPS in Rs
1.861.720.901.05-0.44-0.85-1.02-0.280.97-0.662.50-20.473.44

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1561752222672962172715026416859881,1071,313
Expenses
1461682122482551822343053975278869421,013
Operating Profit
971019413437197245158102165300
Other Income
36621112635303520191716-344
Interest
0011007837262620
Depreciation
45565183242425011410895
Profit before tax
42641513870461153220119-2147-159
Net Profit
374916127464609016689-1733-202
EPS in Rs
3.104.101.6913.775.025.010.046.8912.726.78-1.272.53-15.19
Dividend Payout %
16%15%37%5%12%13%0%0%0%0%0%0%–

Compounded Sales Growth

10 Years:20%
5 Years:32%
3 Years:20%
TTM:35%

Compounded Profit Growth

10 Years:1%
5 Years:124%
3 Years:-41%
TTM:913%

Stock Price CAGR

10 Years:42%
5 Years:13%
3 Years:1%
1 Year:-14%

Return on Equity

10 Years:8%
5 Years:9%
3 Years:4%
Last Year:3%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
33222911131313131313
Reserves
6546946347698193233156027728658491,076880
Borrowings
123300429279157363355251203
Other Liabilities
3350374165517589113151133174155
Total Liabilities
6917507058138874254947831,0551,3911,3491,5141,253
Fixed Assets
173156158109108117345320278935836704661
Gross Block
182.31170.41163.38117.86120.84178.01420.68438.23433.021,139.491,153.831,125.88–
Accumulated Depreciation
9.5813.985.249.0413.0661.2075.94117.98155.30204.96318.30422.05–
CWIP
66554125142971591848
Investments
3804453804545094672802141269107159
Other Assets
132143162245266138141178267430437686385
Total Assets
6917507058138874254947831,0551,3911,3491,5141,253

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1462530-49261611732692186
Cash from Investing Activity
621576-17-48-61-332-260-221-86-342
Cash from Financing Activity
-8-5-162-34-78835172961858142
Net Cash Flow
-101-26-9119-1014-14

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
686661608641555334293836
Inventory Days
12313111510395242203128221427182194
Days Payable
23312837786775761041076165
Cash Conversion Cycle
168165148126103216182105150349159165
Working Capital Days
1361098516513850465328482931
ROCE %
6%5%6%6%8%8%2%29%27%11%0%6%

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Oct 2025
Promoters
61.62%61.60%61.60%61.60%61.60%61.60%61.59%61.58%62.20%61.93%61.85%58.79%
FIIs
6.18%6.29%4.40%4.48%4.37%4.31%4.18%5.35%4.54%4.62%4.81%4.32%
DIIs
0.10%0.07%0.46%0.74%0.26%0.24%0.23%1.02%1.20%0.72%0.78%2.60%
Public
32.09%32.02%33.53%33.18%33.78%33.84%34.00%32.05%32.07%32.74%32.57%34.31%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Borosil Renewables Launches 'Saksham Niveshak' Campaign for Shareholder Engagement

8th April 2026, 8:17 pm

Borosil Renewables Relaunches 'Saksham Niveshak' Campaign for Shareholder KYC and Unclaimed Dividend Claims

7th April 2026, 9:21 pm

Shreevar Kheruka Acquires 52,577 Shares of Borosil Renewables

1st April 2026, 5:27 pm

Borosil Renewables Announces Trading Window Closure Ahead of Q4FY26 Results

26th March 2026, 8:10 pm

Borosil Renewables Executive Chairman Featured in CNBC-TV 18 Interview on March 10, 2026

10th March 2026, 7:35 pm

Published by Other Websites

External media mentions & references

CleanMax Commissions 185MW Gujarat Hybrid Plant, Eyes ₹165 Cr Revenue

7th April 2026, 10:24 pm

CleanMax Commissions 185 MW Gujarat Project, Eyes ₹165 Cr Revenue

7th April 2026, 10:20 pm

Renewable Stocks Cool as Market Dips: Solex, Borosil Lead Losses

13th March 2026, 12:41 pm

Waaree, Premier Shine as US Tariff Fears Fade for Solar Stocks

26th February 2026, 9:33 am

Waaree Energies Shares Tumble 15% on US Solar Import Duties

25th February 2026, 10:55 am

News Articles

Editorial & research coverage

India's Solar Ambitions Soar: Budget 2026 Fuels Homes & Farms
India's Solar Ambitions Soar: Budget 2026 Fuels Homes & Farms

1st February 2026, 3:27 pm

Market Surges on Global Cues! Top IT & Auto Stocks Shine, Experts Reveal 2 Must-Buy Picks for Big Gains!
Market Surges on Global Cues! Top IT & Auto Stocks Shine, Experts Reveal 2 Must-Buy Picks for Big Gains!

12th November 2025, 5:38 am

Borosil Renewables' SHOCKING Profit Leap: Solar Glass Demand Fuels India's Green Energy Boom!
Borosil Renewables' SHOCKING Profit Leap: Solar Glass Demand Fuels India's Green Energy Boom!

11th November 2025, 2:08 pm

Borosil Renewables: German Unit Woes Hit PAT, Q3 Profit Turns Positive
Borosil Renewables: German Unit Woes Hit PAT, Q3 Profit Turns Positive
Borosil Renewables Swings to Q3 Profit Amidst Foreign Unit Insolvency Woes
Borosil Renewables Swings to Q3 Profit Amidst Foreign Unit Insolvency Woes

Documents

Announcements

Restructuring The Utilisation Of Proceeds From The Preferential Issue Of Equity Shares

8 Jan - Preferential issue proceeds restructured; general corporate allocation reduced from Rs58.68Cr to Rs54.15Cr; total Rs371.49Cr.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

2 Jan - Compliance Certificate under Reg 74 (5) of SEBI (DP) Regulations, 2018 for the quarter ended December 31 2025

Interview Of Mr. Pradeep Kumar Kheruka, Executive Chairman With ET Now

1 Jan - Executive Chairman Pradeep Kheruka interviewed on ET Now Jan 1, 2026; general business update; video link available.

Announcement under Regulation 30 (LODR)-Credit Rating

30 Dec - Ind-Ra affirms IND A/IND A1; revises Borosil Renewables outlook to Positive; INR3,721.40m and INR3,550m facilities.

Announcement under Regulation 30 (LODR)-Newspaper Publication

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

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Financial Year 2018

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Financial Year 2017

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Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

30 Dec from fitch

Rating update

16 Jul 2025 from fitch

Rating update

2 May 2024 from fitch

Rating update

22 Sep 2023 from fitch

Rating update

23 Aug 2023 from fitch

Rating update

27 May 2022 from fitch

Concalls

Nov 2025

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Stock Analysis

Description

  1. Borosil Renewables Limited is India's leading solar glass manufacturer, focusing on expanding its production capacity in Gujarat to cater to the growing domestic renewable energy sector.

Key Growth Triggers

  1. The company's growth is supported by India's solar boom, government policies like ALMM, and anti-dumping duties on imports. Expansion plans at the Bharuch plant are a key trigger.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. The insolvency of its German subsidiary (GMB) has caused significant consolidated losses, although the company is strategically shifting focus to India. The undersubscription in the preferential issue also indicates a minor reduction in the initially expected capital infusion.

Key Dates To Watch

  1. Currently no data available for Key Dates To Watch.

Corporate Announcements

8th Apr 26
Impact Rating: 7
Borosil Renewables runs the 'Saksham Niveshak' outreach campaign (Apr 1-Jul 9, 2026) to help shareholders update KYC and claim unpaid dividends directly, preventing fund transfer to IEPF.
7th Apr 26
Impact Rating: -
No description available.
1st Apr 26
Impact Rating: 8
Shreevar Kheruka, Promoter and Vice Chairman, purchased 52,577 shares of Borosil Renewables Limited on March 30, 2026. This acquisition has increased his total shareholding to 58.81%.
26th Mar 26
Impact Rating: 6
In compliance with SEBI's insider trading norms, Borosil Renewables will close its trading window from April 1, 2026. The window will reopen 48 hours after the announcement of its Q4FY26 audited financial results.
10th Mar 26
Impact Rating: 5
Borosil Renewables' Executive Chairman, Mr. Pradeep Kumar Kheruka, was interviewed on March 10, 2026, to provide a general business update. The discussion is now available for public viewing via a company-provided link and website.