BOROSIL RENEWABLES LIMITED has informed the Exchange about Transcript
BORORENEW · price
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Borosil Renewables reported strong Q4 FY25 results with standalone sales up 44% YoY to INR327.23 crore and EBITDA surging from INR13.13 crore to INR77.03 crore. Full-year FY25 sales grew 12% to INR1,110 crore, with EBITDA up 51.8% to INR180.51 crore, helped by antidumping duty on Chinese and Vietnamese solar glass imports and a 28% jump in Q4 selling prices to INR127.6 per mm/sq.m. The government has now imposed a definitive 5-year antidumping duty (valid till December 2029), and domestic prices are moving toward reference levels of INR135-140. Management guided for a 300-400 bps margin improvement next year, with quarterly EBITDA expected to rise to INR90+ crore. The company is revising its capex plan upward from 500 TPD to 600 TPD, targeting commissioning in Q3 FY27, and has an enabling board approval to raise up to INR500 crore. The German subsidiary continues to drag, with about INR9 crore/month in cash burn, but management is exploring cold-end operations and sees a potential demand revival from new German government incentives.
Positive for shareholders — the antidumping duty supports pricing power, management's margin and EBITDA guidance points to stronger FY26 earnings, and the capacity expansion positions the company to capture the growing 40-45 GW annual solar installation market. However, persistent losses at the German subsidiary remain a drag on consolidated earnings.