BOROSIL RENEWABLES LIMITED — Important, 05-07-2025: General Updates

Borosil Renewables has announced a board meeting on the insolvency resolution initiation of its German step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH. GMB faces severe losses due to collapsing demand for German-made solar panels amid aggressive price dumping by Chinese players, leading to furnace shutdown and liquidity issues. The company will stop incurring monthly cash losses of about INR 9 Cr by ceasing funding to GMB. GMB’s revenue was Rs. 326.77 million (22% of consolidated turnover) with a net worth of Rs. 26.63 million. Focus will shift to Indian operations with stronger market potential.