Reappointment of Mr. Sunil Roongta as Whole Time Director of the Company
BORORENEW · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Borosil Renewables Board approved reappointment of Mr. Sunil Roongta as Whole-Time Director and Key Managerial Personnel for a period from May 27, 2027 to July 22, 2029, subject to shareholder approval. He will continue as CFO simultaneously. The company also reported FY2026 standalone revenue of Rs 1,53,483 Lakhs, up 38% from Rs 1,10,994 Lakhs last year. However, the company took exceptional charges including Rs 32,591 Lakhs write-off for German subsidiaries (GMB, Geosphere) that filed for insolvency and Rs 5,759 Lakhs provision for Interfloat exposure. Board also approved raising up to Rs 750 crores via various instruments and starting a new Rooftop Solar Solutions division.
The reappointment provides continuity in leadership as the company navigates significant write-offs from failed German operations. Strong revenue growth and the new solar division expansion signal business refocus on core Indian operations. Shareholders should note the upcoming vote on both the director appointment and the proposed Rs 750 crore fund raise.