Borosil Renewables
- Market cap
- ₹ 5,441 Cr.
- P/E
- 15.6x
- P/B
- 3.68x
- 52-week range
- 374.4 – 721
- ROE
- 28%
- ROCE
- 27%
- Dividend yield
- 0%
- Debt / equity
- 0.11
- Sector
- Industrial Products
- Industry
- Glass - Industrial
- Listed on
- NSE, BSE
About
Borosil Renewables Limited is an India-based company, which manufactures low iron textured solar glass for application in photovoltaic panels, flat plate collectors and green houses. The Company operates through the manufacturing of the Flat Glass segment. Its products, such as Selene - Antiglare Solar Glass, Shakti - Solar Glass in Matt-Matt Finish; NoSbEra - Antimony-Free Solar Glass; Grid Printed Back Glass for Bifacial; Solar Glass with Anti-Soiling Coating; Solar Glass for Roof Tile Applications; Low Iron Textured Solar Glass; Solar Glass for Green House; 2 MM Fully Tempered Solar Glass, and Solar Glass with Anti-Reflective Coating. Its specialized glass, including products like GMB Vetrasol, addresses the needs of modern greenhouses by providing optimal light diffusion while maintaining energy efficiency and durability. Its solar glass manufacturing capacity ranges from 450 tons per day (TPD) to 1000 TPD. Its subsidiaries include Geosphere Glassworks GmbH, Laxman AG, and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Glass - Industrial: 6 companies →Borosil Renewables against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)15.6 against a typical 18.8: cheaper than most peers (1st = cheapest).3rd of 6
- Sales growth+22.3% against a typical +11.2% from a year earlier.2nd of 5
- Share price, 3 months−29.8% against a typical −29.8%.3rd of 5
- Size₹ 5,441 Cr. market value against a typical ₹ 618.8 Cr. (1st = largest).1st of 6
Latest announcements
Exchange filings and their impact on the company.
- 30 Oct 2026Outcome of Board MeetingHigh impactPositiveStrong H1 profit and Rs 274 cr warrant cash fund growth, but 600 TPD expansion delayed to Mar 2027 with Rs 150 cr extra cost.
Borosil Renewables reported Q2 FY27 consolidated revenue of Rs 396.7 crore and net profit of Rs 68.8 crore, with H1 revenue of Rs 802.4 crore up 10.6% and H1 profit of Rs 155.4 crore versus a loss last year from German subsidiary impairment. During the quarter it allotted 69 lakh shares on warrant conversion at Rs 530, receiving Rs 274.3 crore, and used Rs 185 crore to settle SBLC liability and Rs 134.4 crore for capacity expansion. The board pushed commissioning of two 300 TPD furnaces to March 2027 with an extra Rs 150 crore cost, taking total project cost to about Rs 1,100 crore.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA- by India Ratings- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | IND AA-; IND A1+ | Stable | 30 Oct 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 30 Oct 2026 | ▲ Upgrade | IND AA- | Low | India Ratings | ₹ 673.41 Cr. |
Fund raises
QIPs, preferential issues, warrants and rights issues, one row per filing, newest first. Open a row for details. All fund raise updates
| Stage | Details | |||||
|---|---|---|---|---|---|---|
| 30 Oct 2026 | Warrant conversion | Allotted | ₹ 274.3 Cr. | ₹ 530 | −26.42% |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026 | Financial Results | Meeting of the Board of Directors of the Company is scheduled on Friday, October 30, 2026, inter alia, to consider and approve the Un-audited Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended September 30, 2026. |
| 16 Jul 2026 | Financial Results | To consider and approve the Un-audited Financial Results (Standalone & Consolidated) of the Company for the quarter ended June 30, 2026. |
| 12 May 2026 | Financial Results/Fund Raising | To consider and approve the Audited financial results (Standalone and Consolidated) for the quarter and year ended March 31, 2026 and Fund Raising |
| 28 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 11 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 3 Sep 2025 | Financial Results | To consider and approve the unaudited consolidated financial results for the period ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 280 | 241 | 227 | 241 | 266 | 275 | 327 | 332 | 378 | 386 | 438 | 406 |
| Expenses | 259 | 222 | 219 | 215 | 218 | 256 | 257 | 245 | 255 | 265 | 302 | 278 |
| Operating Profit | 21 | 18 | 8 | 27 | 48 | 19 | 70 | 87 | 124 | 122 | 136 | 128 |
| OPM % | 8% | 8% | 3.4% | 11% | 18% | 7% | 21% | 26% | 33% | 32% | 31% | 32% |
| Other Income | 6 | 4 | 5 | 3 | 5 | 2 | 7 | −320 | −32 | 7 | 9 | 14 |
| Interest | 8 | 9 | 2 | 6 | 8 | 5 | 7 | 4 | 4 | 3 | 3 | 2 |
| Depreciation | 26 | 29 | 29 | 29 | 28 | 27 | 25 | 22 | 22 | 22 | 21 | 21 |
| Profit before tax | −7 | −15 | −18 | −5 | 17 | −11 | 45 | −259 | 66 | 104 | 120 | 118 |
| Tax % | −16% | −28% | −24% | −27% | 28% | −18% | 26% | 5% | 31% | 25% | −41% | 26% |
| Net Profit | −6 | −11 | −13 | −4 | 13 | −9 | 33 | −272 | 46 | 78 | 169 | 88 |
| EPS in Rs | −0.44 | −0.85 | −1.02 | −0.28 | 0.97 | −0.66 | 2.5 | −20.47 | 3.44 | 5.58 | 12.06 | 6.25 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 21%
- 5 Years
- 25%
- 3 Years
- 31%
- TTM
- 34%
- 10 Years
- 29%
- 5 Years
- 32%
- 3 Years
- 61%
- TTM
- 464%
- 10 Years
- 35%
- 5 Years
- 14%
- 3 Years
- 7%
- TTM
- —
- 10 Years
- 11%
- 5 Years
- 13%
- 3 Years
- 12%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Borosil Renewables | ₹ 390.00 | ₹ 5,441 Cr. | 15.6x | 3.7x | 28% | — |
| Grindwell Norton | ₹ 1,858.00 | ₹ 20,572 Cr. | 55.4x | 9.1x | 17.4% | 13.6% |
| Carborundum Universal | ₹ 1,031.30 | ₹ 19,647 Cr. | 71.3x | 5.2x | 5.2% | 3.2% |
| Kajaria Ceramics | ₹ 1,137.65 | ₹ 17,896 Cr. | 38x | 6.4x | 16.8% | 10.2% |
| Century Plyboards (India) | ₹ 636.25 | ₹ 14,165 Cr. | 65.9x | 6.8x | 10.6% | 5% |
| Jindal SAW | ₹ 233.30 | ₹ 14,864 Cr. | 17.4x | 1.4x | — | 3.3% |
Management
- Pradeep Kumar Kheruka
- Executive Chairman of the Board
- Melwyn Moses
- Chief Executive Officer
- Shreevar Kheruka
- Non-Executive Vice Chairman of the Board
- Sunil Kumar Roongta
- Chief Financial Officer, Whole-Time Director
- Kishor Harish Talreja
- Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.