BOROSIL RENEWABLES LIMITED — Investor Meet, 15-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Borosil Renewables reported FY25 standalone sales up 12% to INR1,110 Cr, driven by 10% volume growth and 4% price rise. Q4 sales jumped 44% YoY to INR327 Cr, with EBITDA up 52% to INR180.5 Cr for FY25 and Q4 EBITDA soaring to INR77 Cr from INR13 Cr. Export sales fell due to weak European demand and Chinese dumping; overseas subsidiaries faced losses with a monthly cash burn of ~INR9 Cr. Domestic solar installations hit a record 25 GW, exceeding the 15 GW domestic glass capacity, boosting import substitution prospects. Capex is being increased to 600 TPD, targeting Q3 FY27 commissioning. Margins are expected to improve 300-400 bps in FY26 on better pricing and efficiency gains.