BOROSIL RENEWABLES LIMITED — Important, 16-01-2025: Updates

GMB Glasmanufaktur Brandenburg GmbH, a step-down subsidiary of Borosil Renewables, has implemented a temporary cool down of its furnace due to insufficient demand, aiming to minimize losses and optimize cash flow. The cold end operations will continue with a reduced workforce to process semi-finished glass for pending orders. In FY 2023-24, GMB contributed significantly, with revenue from operations at Rs. 40,980 Cr, representing about 30% of the Company's consolidated revenue, while its net worth stood at Rs. 14,162 Cr, accounting for approximately 17% of the Company’s net worth. This strategic move positions GMB to ramp up operations when market demand stabilizes, suggesting a cautious yet optimistic outlook for future recovery.