Borosil Renewables Ltd logo

Borosil Renewables Ltd

BORORENEW NSE

Key Fundamentals

MicrocapGlass - IndustrialIndustrial Products
Market Cap
₹7,989 Cr
Volatility
Moderate
P/E Ratio
20.64
EBITDA
₹466 Cr
Return on Equity
8.44%
Debt to Equity
0.11
Book Value
₹122.12
52W High
₹721
52W Low
₹374.4

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Borosil Renewables Ltd insights

48 extracted metrics + investor summaries across FY11–FY26.

Log in — free

Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

5
  • 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

Weaknesses

3
  • Stock is trading at 5.30 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.

Growth Rate

Revenue Growth
4.37% ↗
Net Income Growth
-246.44% ↘
Cash Flow Change
323.98% ↗
ROE
-197.01% ↘
ROCE
-367.41% ↘
EBITDA Margin (Avg.)
380.91% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk medium

Borosil Renewables Ltd trades at a market cap of Rs 7,870 Cr with a PE of 18.9x and PB of 5.15x. The company has delivered strong TTM sales growth of 34% and profit CAGR of 32% over 5 years, but carries a low 3-year average ROE of 12% and has significantly stretched working capital days from 71 to 154 days.

Bull Case 8
  • TTM sales growth of 34% signals strong revenue momentum, supported by a 10-year compounded sales CAGR of 21%
  • TTM profit growth of 464% indicates a sharp earnings recovery and operating leverage kicking in
  • 5-year compounded profit CAGR of 32.4% demonstrates sustained long-term earnings expansion
  • Last year ROE surged to 28%, a significant improvement over the 3-year average of 12% and 10-year average of 11%
  • Company has reduced debt, improving balance sheet strength and lowering financial risk
  • Median sales growth of 22.6% over last 10 years reflects consistent top-line compounding well above GDP growth
  • 10-year stock CAGR of 35% shows long-term wealth creation track record for patient holders
  • PE of 18.9x is moderate relative to the high-growth solar glass manufacturing space, given 34% TTM sales growth
Bear Case 8
  • Stock trades at 5.15x book value, which is elevated for a capital-intensive industrial products manufacturer
  • Working capital days have deteriorated sharply from 71.4 days to 154 days, indicating cash conversion cycle stress
  • 3-year average ROE of only 12% is below cost-of-equity benchmarks despite the capital-intensive nature of the business
  • Zero dividend yield despite repeated profitability suggests no shareholder return via payouts
  • 1-year stock return of -8% indicates near-term price weakness and possible market skepticism on valuation
  • 3-year stock CAGR of only 4% lags the broader market significantly despite strong underlying profit growth
  • 5-year ROE average of 14% remains below the PB multiple of 5.15x, implying the market is pricing in future returns not yet consistently delivered
  • Heavy dependence on solar glass segment exposes the company to policy changes, anti-dumping duty revisions, and import competition risk

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Headwinds 2
  • Promoter stake sale below valuation Jul 9

    Promoters reportedly in discussions for partial or full stake divestment that could value the company below its current market valuation. No acquirer details or timelines disclosed.

  • German subsidiary insolvency charges Aug 1

    Exceptional charges of ₹35,977.85 lakhs from insolvency of German subsidiaries GMB and Geosphere weighed on consolidated net profit in FY25-26.

Positives 4
  • Standalone revenue surges 38% YoY Aug 1

    FY25-26 standalone revenue up 38.28% YoY to ₹1,53,482.50 lakhs with EBITDA surging 172.38% to ₹49,167.61 lakhs, driven by anti-dumping duties on solar glass imports.

  • Q1 net profit at ₹87.7 crore Jul 19

    Borosil Renewables reported standalone net profit of ₹8,770.55 lakh for Q1FY26 with revenue from operations at ₹40,569.07 lakh.

  • Renewable energy share up to 29% Jul 30

    Renewable electricity consumption rose to 29.23% in FY26, driven by new wind-solar hybrid projects and antimony-free manufacturing initiatives.

  • ₹371 crore raised via allotment Aug 1

    Company raised ₹37,148.75 lakhs via preferential allotment and commissioned a 16.5 MW wind-solar hybrid plant during FY25-26.

Neutral 4
  • AGM scheduled for Aug 27 Jul 28

    63rd Annual General Meeting scheduled for August 27, 2026 via video conferencing in compliance with MCA and SEBI regulations.

  • Executive chairman interview on NDTV Jul 20

    Executive Chairman Pradeep Kumar Kheruka gave a business update interview on NDTV Profit on July 20, 2026.

  • Q1FY27 earnings call on Jul 17 Jul 10

    Analyst call scheduled for July 17, 2026 to discuss Q1FY27 results, following financial results announcement on July 16.

  • HR GM resignation accepted Jul 14

    Dilip Acharya ceased as Senior Management Personnel effective July 13, 2026 due to internal restructuring but continues as employee.

TL;DR: Borosil Renewables is delivering strong standalone growth with revenue up 38% and EBITDA up 172% YoY, benefiting significantly from anti-dumping duties on imported solar glass. The company is also progressing on sustainability with renewable energy at 29% of consumption. Key risks include the potential promoter stake sale at below-market valuation and ₹360 crore in exceptional losses from German subsidiary insolvencies. The domestic business trend is clearly improving, but ownership uncertainty could cap near-term re-rating.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
238
280
241
227
241
266
275
327
332
378
386
438
406
Expenses
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%
Other Income
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
PBT
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%
Net Profit
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
2.5
-20.47
3.44
5.58
12.06
6.25
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
175
222
267
296
217
271
502
641
685
988
1,107
1,530
1,608
Expenses
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%
Other Income
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
PBT
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%
—
Net Profit
49
16
127
46
46
0
90
166
89
-17
33
21
381
EPS in Rs
4.1
1.69
13.77
5.02
5.01
0.04
6.89
12.72
6.78
-1.27
2.53
1.48
27.33
Div. Payout %
15%
37%
5%
12%
13%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
2
33
0
0
42
92
79
157
363
355
251
162
Other Liabilities
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
Fixed Assets
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
Other Assets
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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
4
6
25
30
-49
26
161
173
26
92
186
425
Investing
2
157
6
-17
-48
-61
-332
-260
-221
-86
-342
-711
Financing
-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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 58.77%
Public 25.16%
Others 7.32%
FIIs 6.14%
DIIs 2.62%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Feb 2025Mar 2025Jun 2025Sep 2025Oct 2025Dec 2025Mar 2026Jun 2026
Promoters
61.83%
61.78%
61.74%
61.73%
61.69%
61.65%
61.65%
61.64%
61.62%
61.61%
61.60%
61.60%
61.60%
61.60%
61.60%
61.59%
62.20%
62.20%
61.93%
61.85%
58.79%
58.77%
58.77%
58.77%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.40%
0.00%
4.36%
4.32%
4.19%
5.35%
4.51%
4.54%
4.62%
4.81%
4.32%
4.01%
4.27%
6.14%
DIIs
1.93%
0.04%
0.04%
0.06%
0.05%
0.17%
0.13%
0.11%
0.11%
0.07%
0.46%
0.74%
0.26%
0.24%
0.23%
1.02%
1.13%
1.20%
0.72%
0.78%
2.59%
2.56%
2.32%
2.62%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
23.74%
26.23%
26.25%
26.23%
26.42%
26.55%
26.58%
26.49%
26.42%
26.14%
28.03%
27.78%
28.29%
28.42%
28.22%
26.46%
26.60%
26.42%
26.89%
26.45%
26.72%
27.05%
27.16%
25.16%
Others
12.50%
11.94%
11.97%
11.98%
11.85%
11.63%
11.64%
11.77%
11.85%
12.18%
5.50%
9.87%
5.49%
5.42%
5.76%
5.59%
5.56%
5.65%
5.84%
6.11%
7.58%
7.60%
7.47%
7.32%
No. of Shareholders
1,02,563
1,24,707
1,42,376
1,95,128
2,18,773
2,45,786
2,64,776
2,70,690
2,68,947
2,63,116
2,82,084
2,77,747
3,20,502
3,22,731
3,06,532
2,83,955
2,79,064
2,77,794
2,66,435
2,51,006
2,49,118
2,41,575
2,37,050
2,25,375

Documents

Frequently Asked Questions about Borosil Renewables Ltd

What does Borosil Renewables Ltd do?
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)
Where is Borosil Renewables Ltd (BORORENEW) listed?
Borosil Renewables Ltd is listed on the Indian stock exchanges. It is listed on NSE: BORORENEW and BSE: 502219. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Borosil Renewables Ltd belong to?
Borosil Renewables Ltd operates in the Industrial Products sector within the Glass - Industrial industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Borosil Renewables Ltd?
Borosil Renewables Ltd has a market capitalisation of approximately ₹7989.13 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Borosil Renewables Ltd?
The Price-to-Earnings (PE) ratio of Borosil Renewables Ltd is 20.64. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Borosil Renewables Ltd?
Over the past 52 weeks, Borosil Renewables Ltd has traded between a low of ₹374.4 and a high of ₹721. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Borosil Renewables Ltd?
Borosil Renewables Ltd has a Return on Equity (ROE) of 8.44%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Borosil Renewables Ltd on Tapetide?
On Tapetide, you can view Borosil Renewables Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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)

Website borosilrenewables.com
CEO Mr. Pradeep Kumar Kheruka B.Com.
Employees 740
Listed 2018-05-25
Face Value ₹ 1
Issued Size 14,01,88,845

Explore More

More in Industrial Products → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List