BOROSIL RENEWABLES LIMITED — PPTs, 11-11-2024: Investor Presentation

**Financial Highlights:** Borosil Renewables Limited displayed a stable performance in Q2FY25 with total revenue of ₹264.94 Cr, reflecting a 10% increase from the previous quarter despite a 5% year-over-year decline. EBITDA surged to ₹52.88 Cr, equating to a robust 20% margin, significantly up from 12.3% in Q1FY25. A noteworthy turnaround was seen in post-tax profits of ₹12.62 Cr, compared to a loss of ₹3.64 Cr in Q1FY25.

**Strategic Initiatives and Growth Drivers:** The company is strategically positioned to benefit from the Indian government's increased solar capacity target of 280 GW by 2030, with ongoing initiatives in capacity expansion and product innovation. Plans for a rights issue of up to ₹450 Cr to ease debt pressures further indicate a focus on strengthening financial health.

**Business Developments:** Domestic sales rose, with export revenues climbing to ₹34.39 Cr in Q2FY25. The recent adjustments to customs duties on solar glass aim to bolster domestic manufacturing resilience.

**Market Position and Competitive Advantage:** Borosil holds a competitive edge as India's largest solar glass manufacturer, poised to capitalize on increasing solar glass demand as global module manufacturing evolves.

**Investor Implications:** The positive trends in financial performance and alignment with government solar ambitions present a favorable outlook for investors, suggesting potential growth opportunities in the renewable segment. Investors should keep a close watch on developments related to the upcoming rights issue and the company’s capacity expansion decisions.