Borosil Renewables Ltd

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Borosil Renew. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Borosil Renewables Ltd

₹ 575 2.23%
12 Aug 11:51 a.m.
borosilrenewables.com BSE: 502219 NSE: BORORENEW
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 Share[1]
The company is India's largest manufacturer of low-iron textured solar glass, holding over 15% market share, and is also the world's largest solar glass producer outside China.

Website BSE NSE
  • Market Cap ₹ 8,158 Cr.
  • Current Price ₹ 575
  • High / Low ₹ 721 / 374
  • Stock P/E 20.3
  • Book Value ₹ 107
  • Dividend Yield 0.00 %
  • ROCE 26.6 %
  • ROE 27.7 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 32.0% CAGR over last 5 years
  • Company's median sales growth is 22.6% of last 10 years
  • Company's working capital requirements have reduced from 25.6 days to 17.0 days

Cons

  • Stock is trading at 5.33 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 12.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Glass - Industrial

Part of Nifty Total Market BSE Industrials BSE 1000 Nifty Smallcap 500 Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
238 280 241 227 241 266 275 327 332 378 386 438 406
188 259 222 219 215 218 256 257 245 255 265 302 278
Operating Profit 50 21 18 8 27 48 19 70 87 124 122 136 128
OPM % 21% 8% 8% 3.4% 11% 18% 7% 21% 26% 33% 32% 31% 32%
7 6 4 5 3 5 2 7 -320 -32 7 9 14
Interest 7 8 9 2 6 8 5 7 4 4 3 3 2
Depreciation 31 26 29 29 29 28 27 25 22 22 22 21 21
Profit before tax 18 -7 -15 -18 -5 17 -11 45 -259 66 104 120 118
Tax % 26% -16% -28% -24% -27% 28% -18% 26% 5% 31% 25% -41% 26%
14 -6 -11 -13 -4 13 -9 33 -272 46 78 169 88
EPS in Rs 1.05 -0.44 -0.85 -1.02 -0.28 0.97 -0.66 2.50 -20.47 3.44 5.58 12.06 6.25
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
175 222 267 296 217 271 502 641 685 988 1,107 1,530 1,608
168 212 248 255 182 234 305 397 527 886 942 1,060 1,099
Operating Profit 7 10 19 41 34 37 197 245 158 102 165 470 509
OPM % 4.3% 4.7% 7% 14% 16% 14% 39% 38% 23% 10% 15% 31% 32%
62 11 126 35 30 3 5 20 19 17 16 -338 -2
Interest 0 1 1 0 0 7 8 3 7 26 26 14 12
Depreciation 5 5 6 5 18 32 42 42 50 114 108 87 86
Profit before tax 64 15 138 70 46 1 153 220 119 -21 47 31 409
Tax % 23% -4% 8% 34% -0% 64% 41% 25% 26% -23% 29% 33%
49 16 127 46 46 0 90 166 89 -17 33 21 381
EPS in Rs 4.10 1.69 13.77 5.02 5.01 0.04 6.89 12.72 6.78 -1.27 2.53 1.48 27.33
Dividend Payout % 15% 37% 5% 12% 13% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 21%
5 Years: 25%
3 Years: 31%
TTM: 34%
Compounded Profit Growth
10 Years: 29%
5 Years: 32%
3 Years: 61%
TTM: 464%
Stock Price CAGR
10 Years: 35%
5 Years: 12%
3 Years: 7%
1 Year: -4%
Return on Equity
10 Years: 11%
5 Years: 13%
3 Years: 12%
Last Year: 28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 3 2 2 2 9 11 13 13 13 13 13 14
Reserves 694 634 769 819 323 315 602 772 865 849 1,076 1,492
2 33 0 0 42 92 79 157 363 355 251 162
50 37 41 65 51 75 89 113 151 133 174 148
Total Liabilities 750 705 813 887 425 494 783 1,055 1,391 1,349 1,514 1,816
156 158 109 108 117 345 320 278 935 836 704 612
CWIP 6 5 5 4 125 1 4 297 15 9 18 108
Investments 445 380 454 509 46 7 280 214 12 69 107 630
143 162 245 266 138 141 178 267 430 437 686 467
Total Assets 750 705 813 887 425 494 783 1,055 1,391 1,349 1,514 1,816

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4 6 25 30 -49 26 161 173 26 92 186 425
2 157 6 -17 -48 -61 -332 -260 -221 -86 -342 -711
-5 -162 -34 -7 88 35 172 96 185 8 142 316
Net Cash Flow 0 1 -2 6 -9 1 1 9 -10 14 -14 30
Free Cash Flow 40 -4 95 89 -204 -78 134 -200 -289 14 130 229
CFO/OP 147% 141% 199% 107% -97% 110% 93% 98% 26% 95% 111% 106%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 66 61 60 86 41 55 53 34 29 38 36 29
Inventory Days 131 115 103 95 242 203 128 221 427 182 194 119
Days Payable 31 28 37 78 67 75 76 104 107 61 65 49
Cash Conversion Cycle 165 148 126 103 216 182 105 150 349 159 165 99
Working Capital Days 109 85 165 138 50 46 53 28 48 29 31 17
ROCE % 5% 6% 6% 8% 8% 2% 29% 27% 11% 0% 6% 27%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Cumulative Solar PV Installations in India
GW

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Solar Glass Installed Capacity (India standalone)
TPD
Ex-factory Selling Price
INR/mm
Exports as % of Standalone Sales
%
Solar Module Manufacturing Capacity in India
GW

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
61.60% 61.60% 61.60% 61.60% 61.59% 61.58% 62.20% 61.93% 61.85% 58.77% 58.77% 58.78%
4.40% 4.48% 4.37% 4.31% 4.18% 5.35% 4.54% 4.62% 4.81% 4.01% 4.27% 6.14%
0.46% 0.74% 0.26% 0.24% 0.23% 1.02% 1.20% 0.72% 0.78% 2.57% 2.33% 2.62%
33.53% 33.18% 33.78% 33.84% 34.00% 32.05% 32.07% 32.74% 32.57% 34.67% 34.63% 32.46%
No. of Shareholders 2,82,0842,77,7473,20,5023,22,7313,06,5322,83,9552,77,7952,66,4352,51,0062,41,5752,37,0502,25,375

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

Concalls