BOROSIL RENEWABLES LIMITED has informed the Exchange about change in Management: Re-designation of Mr. Ashok Jain as Non-Executive Director of the Company
BORORENEW · price
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Borosil Renewables reported a strong standalone turnaround in FY25 with net profit of Rs. 33.47 crore versus a loss of Rs. 16.52 crore in FY24, driven by revenue growth to Rs. 1,109.94 crore from Rs. 990.28 crore. Q4FY25 standalone net profit stood at Rs. 33.13 crore, a sharp recovery from a loss of Rs. 13.37 crore in Q4FY24. However, consolidated results remained in the red with a net loss of Rs. 86.97 crore (vs Rs. 50.27 crore loss in FY24), mainly due to troubles at its German step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH, whose manufacturing remains suspended. The company has an exposure of Rs. 324.34 crore in the GMB/GGeosphere chain. The Board approved seeking shareholder approval to raise up to Rs. 500 crore via QIP, FPO, FCCBs, or other modes. Mr. Ashok Jain will be re-designated as Non-Executive Non-Independent Director from August 1, 2025, after completing his term as Whole-time Director. M/s. Dhrumil M. Shah & Co. LLP was appointed as Secretarial Auditor for five years from FY26.
Standalone profit recovery is positive, but persistent consolidated losses, the Rs. 500 crore fund-raising plan, and continued stress at the German subsidiary GMB could weigh on sentiment. The proposed equity raise introduces potential dilution risk for existing shareholders, though the change in Ashok Jain's role is a smooth transition rather than a disruption.