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 meeting held on May 12, 2026 approved multiple items including audited FY2026 financial results. Standalone revenue from operations was Rs. 1,53,482.50 Lakhs, up 38% from Rs. 1,10,993.63 Lakhs in FY2025. Profit before tax (before exceptional items) jumped to Rs. 39,071.24 Lakhs from Rs. 4,685.65 Lakhs, driven by strong domestic demand for solar glass. However, the company wrote off Rs. 32,590.81 Lakhs exposure to German subsidiaries (GMB and Geosphere) under insolvency, plus Rs. 3,387.04 Lakhs for Interfloat Corporation, totaling Rs. 35,977.85 Lakhs in exceptional items. The Board also approved re-appointment of Mr. Sunil Roongta as Whole-Time Director and CFO for a term from May 27, 2027 to July 22, 2029, and sought shareholder approval to raise up to Rs. 750 crores via various instruments.
Continuation of leadership with CFO Sunil Roongta as Whole-Time Director provides stability. Strong operational performance offset by German subsidiary write-offs. Fundraising approval signals expansion plans including new rooftop solar division.