Borosil Scientific Limited has informed the Exchange regarding the Update about the Voluntary Retirement Scheme introduced by the Company for its Ambad Plant, Nashik, Maharashtra.
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Borosil Scientific Limited has signed a Memorandum of Settlement on May 17, 2025, with the Bhartiya Kamgar Sena trade union representing workers at its Ambad Plant in Nashik, Maharashtra. This settlement finalizes the terms for remaining workmen under the company's Voluntary Retirement Scheme (VRS), which was first announced via a letter dated November 28, 2024. The company has stated it will share further details about the total financial amount involved and the payment timeline to workmen in due course. No specific payout figure or number of affected employees has been disclosed in this update.
This represents a near-resolution of the VRS process at the Nashik plant, which could lead to a one-time restructuring expense for the company once the amount is disclosed. Investors should watch for the forthcoming update on the payout size, as a larger-than-expected settlement cost could pressure near-term margins, though streamlining the workforce may improve long-term operational efficiency at the plant.