Borosil Renewables Limited

NSE: BORORENEW · Glass - Industrial

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52W Range₹369 – ₹721

Snapshot

Unlock Borosil Renewables Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Borosil Renewables Limited is a manufacturer of low-iron solar glass used in photovoltaic panels, flat plate collectors, and greenhouses. The company provides specialised glass solutions, including anti-glare, anti-soiling, and anti-reflective coatings for the renewable energy sector.

Business Model

The company generates revenue through the manufacturing and sale of high-performance solar glass products to domestic and international solar module manufacturers. Its business model focuses on catering to the growing demand for renewable energy infrastructure through technological specialisation in glass coatings.

Growth Outlook

Growth is driven by the global transition towards renewable energy and the increasing adoption of solar photovoltaic installations. The company is positioned to benefit from the rising demand for high-efficiency solar glass in both domestic and international markets.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of key raw materials like soda ash and natural gas can significantly impact manufacturing margins.
  • Competitive Intensity. The solar glass market faces intense competition from low-cost international manufacturers, particularly from China.
  • Regulatory and Trade Policy. Changes in anti-dumping duties or government incentives for solar energy can materially affect the company's competitive position and demand.
  • Technological Obsolescence. Rapid advancements in solar module technology may require continuous investment in R&D to maintain product relevance and efficiency standards.

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Key Metrics

REVENUE

₹1,633 Cr

TTM · consolidated

+11.8%YoY

NET PROFIT

₹425 Cr

TTM · consolidated

+310.8%YoY

EPS

₹30.24

TTM · consolidated

+313.6%YoY

RETURN ON EQUITY

29.9%

TTM · consolidated

+52.5 ppYoY

RETURN ON CAPITAL EMPLOYED

29.9%

TTM · consolidated

+42.1 ppYoY

P/E

12.8×

Q2 FY27 · consolidated

12.8 vs 27.5x5Y avg

EV/EBITDA

10.1x

Q2 FY27 · consolidated

10.1 vs 37.3x5Y avg

EBITDA MARGIN

32.7%

TTM · consolidated

+17.5 ppYoY

NET PROFIT MARGIN

17.3%

Q2 FY27 · consolidated

+1.0 ppYoY

DEBT TO EQUITY

0.1x

Q2 FY27 · consolidated

-0.16xYoY

Peers · Glass - Industrial

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Borosil Renewables LimitedBORORENEW
₹5,436 Cr12.8×10.0711.8%32.7%29.9%29.9%-40.1%
Borosil Scientific LimitedBOROSCI
₹905 Cr20.3×11.5212.1%16.0%10.7%12.7%-23.7%
Sejal GlassSEJALLTD
₹882 Cr23.2×12.7251.9%16.9%33.3%20.4%-16.8%

As of Q2 FY27

Financials