Borosil Renewables Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results –Borosil Renewables Limited is an Indian Solar Glass manufacturer founded in 1966. The current managing director of the company is Mr Shreevar Kheruk and their headquarters are situated in Mumbai Maharashtra. This solar glass manufacturer in India has a single parent company known as Borosil Group and a capacity that reaches 450 TPD (tonnes per day). The official website of the business indicates that they intended to add an extra 550 TPD capacity for the fiscal year 2022-23.
Latest Update – Borosil Renewables Ltd net profit for Q1 2024-2025 is ₹-12.96Cr, a drop of -55.77% compared to the same period last year. On a quarterly basis, Borosil Renewables has grown its net profit by 73.04% in the last three months.
Borosil Renewables Overview
Contents
Borosil Renewables makes extra clear patterned glass and low iron solar glass. They use these materials in solar panels, flat plate collectors and greenhouses.
| Company Name | Borosil Renewables Ltd |
| Listed at | NSE & BSE |
| Head Office | 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra-Kurla Complex, Bandra (East), |
| Board Of Directors |
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| Official Website | borosilrenewables.com |
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Borosil Renewables Business Profile
BRL is involved in manufacturing low-iron solar glass for use in photovoltaic panels, flat plate collectors and greenhouses. It is the first and the only solar glass producer in the country.
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Geographical Presence
~25% of the company’s income originates from sales abroad. Most foreign buyers are located in Western European countries or Turkey. The Corporation has extended its presence to less familiar territories such as those found within the Americas and MENA region.
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Manufacturing capabilities
The firm has expanded more than 7.5 times within the last five years, increasing its manufacturing capacity from 180 tons per day in 2018 to a remarkable 1350 tons per day in 2023 (with German acquisition).
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Acquisition of Interfloat Group
BRL’s foreign side operations obtained a controlling interest of 86% in Interfloat Group. As a result of this merger, the Glasmanufaktur Brandenburg GmbH team (the manufacturing arm of this internationalization located in Tschernitz, Brandenburg near Berlin) reconstructed and made improvements on the furnace from 300 tons per day to 350 tons per day which is equal to 2 GW.
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Expansion
The company raised approximately 200 crores through QIP primarily for commissioning its third furnace (SG-3 project) at its existing manufacturing facility in Bharuch district of Gujarat (commissioned in FY23). Furthermore, an addition to 4th furnace with capacity of 1100 tones per day is proposed by this company by Q3FY24. The complete capacity of 2450 TPD is expected to be available starting from FY25.
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Power Purchase Agreement
In the financial year 2023, the organization executed a power purchase agreement with ReNew Green (GJS Two) Private Limited (RGPL) for sourcing renewable electricity and concurrently finalized arrangements to obtain 31% Equity Share Capital of RGPL.
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The company has historically faced pressure on its selling prices due to continued cheap and dumped imports from China and Malaysia. The removal of Anti-dumping duty (ADD) on imports of Chinese glass from August 17, 2022, and a significant drop in international freight costs made imports cheaper, forcing the Company to adjust its selling prices.
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Borosil Renewables Fundamentals & Quarterly Results
| Metric | Value |
|---|---|
| Market Cap | ₹ 6,704 Cr. |
| Current Price | ₹ 514 |
| High / Low | ₹ 669 / 391 |
| Stock P/E | – |
| Book Value | ₹ 66.9 |
| Dividend Yield | 0.00 % |
| ROCE | -3.94 % |
| ROE | -8.59 % |
| Face Value | ₹ 1.00 |
| FCF Prev Ann | ₹ -353 Cr. |
| Debt to Equity | 0.66 |
| Debt Preceding Year | ₹ 421 Cr. |
| Reserves | ₹ 860 Cr. |
| Quick Ratio | 1.09 |
| Current Ratio | 1.85 |
| Free Cash Flow | ₹ -148 Cr. |
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Borosil Renewables Quarterly Results
| Dec 2019 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 266 | 170 | 169 | 246 | 309 | 354 | 402 | 330 | 283 |
| Expenses | 227 | 122 | 127 | 227 | 275 | 328 | 369 | 310 | 309 |
| Operating Profit | 38 | 48 | 42 | 19 | 34 | 26 | 32 | 20 | -26 |
| OPM % | 14% | 28% | 25% | 8% | 11% | 7% | 8% | 6% | -9% |
| Other Income | 5 | 3 | 2 | 10 | 5 | 8 | 37 | 4 | 5 |
| Interest | 4 | 0 | 0 | 2 | 5 | 9 | 10 | 7 | 3 |
| Depreciation | 17 | 11 | 11 | 13 | 20 | 32 | 31 | 35 | 34 |
| Profit before Tax | 23 | 40 | 33 | 14 | 14 | -7 | 29 | -18 | -57 |
| Tax % | 25% | 25% | 26% | 57% | 27% | 71% | -4% | -13% | -7% |
| Net Profit | 17 | 30 | 24 | 6 | 10 | -12 | 30 | -16 | -53 |
| EPS (₹) | 2.07 | 2.31 | 1.85 | 0.40 | 0.77 | -0.64 | 1.92 | -1.19 | -3.68 |
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CAGR Report
| 10 Years | 5 Years | 3 Years | 1 Year/TTM | |
|---|---|---|---|---|
| Compounded Sales Growth | 24% | 12% | – | 53% |
| Compounded Profit Growth | – | – | – | -213% |
| Stock Price CAGR | 48% | 74% | 18% | 11% |
| Return on Equity | – | – | – | -9% |
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.28% | 72.85% | 72.85% | 70.50% | 61.83% | 61.69% | 61.62% | 61.60% | 61.60% |
| FIIs | 2.52% | 2.66% | 2.49% | 2.00% | 6.99% | 4.79% | 6.18% | 4.37% | 4.31% |
| DIIs | 0.04% | 0.04% | 0.28% | 0.19% | 1.94% | 0.06% | 0.10% | 0.26% | 0.24% |
| Public | 23.15% | 24.45% | 24.38% | 27.31% | 29.24% | 33.46% | 32.09% | 33.78% | 33.84% |
| No. of Shareholders | 8,846 | 15,500 | 32,441 | 62,198 | 102,563 | 218,773 | 268,947 | 320,502 | 322,731 |
| Year | Initial Target | Mid-Year Target | Year-End Target |
|---|---|---|---|
| 2024 | ₹613.95 | ₹746.56 | ₹826.14 |
| 2025 | ₹843 | ₹793 | ₹947 |
| 2026 | ₹966 | ₹909 | ₹1084 |
| 2027 | ₹1106 | ₹1040 | ₹1241 |
| 2028 | ₹1266 | ₹1190 | ₹1422 |
| 2029 | ₹1450 | ₹1363 | ₹1628 |
| 2030 | ₹1661 | ₹1560 | ₹1862 |
| Month | Target |
| January | ₹843 |
| February | ₹860 |
| March | ₹877 |
| April | ₹848 |
| May | ₹820 |
| June | ₹793 |
| July | ₹825 |
| August | ₹858 |
| September | ₹892 |
| October | ₹910 |
| November | ₹928 |
| December | ₹947 |
| Month | Target |
| January | ₹966 |
| February | ₹985 |
| March | ₹1005 |
| April | ₹972 |
| May | ₹940 |
| June | ₹909 |
| July | ₹945 |
| August | ₹983 |
| September | ₹1022 |
| October | ₹1042 |
| November | ₹1063 |
| December | ₹1084 |
| Month | Target |
| January | ₹1106 |
| February | ₹1128 |
| March | ₹1151 |
| April | ₹1113 |
| May | ₹1076 |
| June | ₹1040 |
| July | ₹1082 |
| August | ₹1125 |
| September | ₹1170 |
| October | ₹1193 |
| November | ₹1217 |
| December | ₹1241 |
| Month | Target |
| January | ₹1266 |
| February | ₹1291 |
| March | ₹1317 |
| April | ₹1273 |
| May | ₹1231 |
| June | ₹1190 |
| July | ₹1238 |
| August | ₹1288 |
| September | ₹1340 |
| October | ₹1367 |
| November | ₹1394 |
| December | ₹1422 |
| Month | Target |
| January | ₹1450 |
| February | ₹1479 |
| March | ₹1509 |
| April | ₹1459 |
| May | ₹1410 |
| June | ₹1363 |
| July | ₹1418 |
| August | ₹1475 |
| September | ₹1534 |
| October | ₹1565 |
| November | ₹1596 |
| December | ₹1628 |
| Month | Target |
| January | ₹1661 |
| February | ₹1694 |
| March | ₹1728 |
| April | ₹1670 |
| May | ₹1614 |
| June | ₹1560 |
| July | ₹1622 |
| August | ₹1687 |
| September | ₹1754 |
| October | ₹1789 |
| November | ₹1825 |
| December | ₹1862 |
Official Website – borosilrenewables.com