BOROSIL RENEWABLES LIMITED — PPTs, 11-11-2025: Investor Presentation

Borosil Renewables delivered a strong Q2 FY26 standalone performance. Revenue jumped 42.5% YoY to ₹378.44 Cr, largely due to higher selling prices. EBITDA surged 137.3% YoY to ₹125.50 Cr, with margins improving to 33.2%. PBT (before exceptional items) grew 473.3% YoY to ₹100.04 Cr. Consolidated results also saw robust EBITDA growth of 248.4% YoY to ₹120.42 Cr, impacted by the deconsolidation of its German subsidiary GMB due to insolvency, leading to an exceptional item of ₹33.87 Cr for Interfloat.

The company is strategically expanding capacity by adding two new furnaces (SG-4 & SG-5) totaling 600 TPD, a ₹950 Cr investment targeting December 2026. This expansion leverages a 5-year anti-dumping duty on imported solar glass and aims to meet India's ambitious 280 GW solar capacity goal by 2030 and rising domestic module manufacturing.

Recent developments include significant fund raises: ₹517.66 Cr from a February 2025 preferential issue (including warrants) and an additional ₹371.49 Cr in October 2025 through equity shares, specifically to fund the expansion project. Management is optimistic about accelerating solar installations and robust domestic demand driving future growth.