Borosil Renewables German subsidiary Geosphere files for insolvency
BORORENEW · price
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Borosil Renewables' wholly owned German subsidiary Geosphere Glassworks GmbH has filed for voluntary insolvency at a court in Cottbus, Germany on Dec 22, 2025. Geosphere was a special purpose vehicle holding a majority stake in GMB Glasmanufaktur, Europe's largest solar glass maker, which entered insolvency in July 2025. A German government bank demanded repayment of EUR 4.81 million subsidy after GMB shut down. Borosil says its entire Rs. 130.03 crore exposure in Geosphere was already written off as an exceptional item in Q1 FY26 results, so there is no material further impact on the company.
Loss already booked in Q1 FY26; no new material hit to financials and limited near-term stock impact expected.