BOROSIL RENEWABLES LIMITED has informed the Exchange about General Updates: Appointment of Secretarial Auditor.
BORORENEW · price
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Awaiting price reaction for this filing.
Borosil Renewables announced audited results for Q4 and FY25 on May 10, 2025, with statutory auditor Chaturvedi & Shah LLP issuing an unmodified opinion. On a standalone basis, the company returned to profit with FY25 revenue rising to Rs. 1,109.94 crore (vs Rs. 990.28 crore) and net profit of Rs. 33.47 crore versus a loss of Rs. 16.52 crore last year; Q4 standalone profit was Rs. 33.13 crore. However, the consolidated picture remained weak with a net loss of Rs. 86.97 crore for FY25 (worse than Rs. 50.27 crore loss in FY24), dragged by German step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH, whose manufacturing remains suspended due to weak market conditions. The Board also approved seeking shareholder authorisation to raise up to Rs. 500 crore via QIP, FPO, FCCBs, or other modes, and approved the re-designation of Mr. Ashok Jain (DIN: 00025125) from Whole-time Director to Non-Executive Non-Independent Director effective August 1, 2025, upon completion of his current term. Additionally, M/s. Dhrumil M. Shah & Co. LLP was recommended as Secretarial Auditor for five years from FY25-26, subject to shareholder approval.
Positive on the standalone turnaround, but the deepening consolidated loss and the Rs. 324 crore exposure to the troubled German subsidiary remain key risks for shareholders. The proposed Rs. 500 crore fund raise and the leadership transition to a Non-Executive role for Mr. Ashok Jain are structural events investors should watch; dilution risk and continuity at the German unit will likely shape near-term stock sentiment.