BOROSIL RENEWABLES LIMITED has informed the Exchange regarding Board meeting held on July 23, 2025.
BORORENEW · price
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Borosil Renewables' board approved standalone Q1 FY26 results (quarter ended June 30, 2025), with revenue from operations rising about 37% year-on-year to Rs. 33,226 lakhs from Rs. 24,182 lakhs, and profit before exceptional items swinging to Rs. 6,656 lakhs from a Rs. 499 lakh loss. However, the company booked an exceptional item of Rs. 32,591 lakhs after fully writing off its exposure (investments, loans, receivables) in step-down German subsidiary GMB Glasmanufaktur Brandenburg GmbH, which filed for insolvency on July 4, 2025 after running out of recovery prospects and needing about Euro 900,000 monthly just to continue. Consolidated results could not be prepared due to non-receipt of financials from GMB, and the auditor flagged this as an Emphasis of Matter in the limited review. The board also approved a preferential issue of up to 70.93 lakh equity shares to about 82 non-promoter investors at Rs. 535 per share, aggregating Rs. 379.52 crore, with an EGM scheduled for August 14, 2025.
Short-term: The Rs. 326 crore write-off turns standalone Q1 into a Rs. 272 crore net loss, likely weighing on the stock, though core operations are clearly improving. The Rs. 380 crore preferential issue at Rs. 535 (below market) will be dilutive but strengthens the balance sheet after the GMB loss.