Borosil Renewables Ltd

Q4 FY26Industrial Products

Borosil Renewables Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹549

Market cap₹7.9K Cr

P/E19.8

Updated23 Aug 2026

Read5 min read

The short version

From Borosil Renewables Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Future growth expectations for Borosil Renewables Limited: - Capacity Expansion: Addition of 600 tons per day (2 furnaces of 300 tons each) expected by January 2027, increasing capacity by ~60%. - Sales Volume: Current sales run rate around INR400-410 crores per quarter, with no reason to expect decline. - Operating Leverage: New expanded capacity expected to generate operating leverage and better margins. - Demand Environment: Domestic demand remains robust, driven by rising solar module production and government policies (ALMM mechanism). - Export Markets: Growth potential in specialized European markets and emerging US market due to preference for non-Chinese materials. - Rooftop Solar Business: New division targeting INR75 crores revenue in first year, expected to scale up with profitability improving as volumes grow. - Caution: Supply chain uncertainties from geopolitical events noted; no major adverse impact expected if situation normalizes. Overall, the company expects steady volume growth with volume-driven revenue increase and margin improvement post-expansion.

Profitability & Margins

The company expects EBITDA margins in the range of 30% to 33% going forward, assuming no unforeseen circumstances (Page 8).
The ongoing expansion of 600 tons per day capacity (two furnaces of 300 tons each) is expected to increase production capacity by 60%, likely leading to operating leverage and improved margins (Pages 6, 13).
New installations with upgraded technology are expected to yield better operating efficiencies and margins (Page 13).
Rooftop solar business is a new venture expected to generate revenues of around INR75 crores in the first year, with initially lower margins (~<10%) but scalable to meaningful EBITDA as volumes increase (Pages 12-13).
Overall, expectations are for incremental profit growth from capacity expansion and operational efficiencies, though rooftop solar margins will be lower initially.
No near-term capital raising is planned, but an enabling resolution for up to INR750 crores is in place for future funding needs (Page 11).
Operating leverage from the expansion and cost efficiencies should support future profit and EPS growth.

See what Borosil Renewables Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Borosil Renewables is commissioning an expansion of 2 new furnaces, each 300 tons per day, totaling 600 tons per day, expected to be operational by January 2027, increasing capacity by 60%.
The company plans a capex of around INR950 crores for this expansion in the current financial year.
No major capital investment is planned for the rooftop solar business in the next 1 to 1.5 years; the model will be largely asset-light and outsourced initially.
There is an enabling resolution for fundraising up to INR750 crores for any future needs or opportunities, but no current plans to raise capital.
Rebuilding and repairing old furnaces (SG1 and SG2) may involve capex of about INR100 crores in the next calendar year.
Manufacturing of inverters for rooftop solar may be considered after ~1 year, but no capex yet for solar module manufacturing.

Top-ranked in Industrial Products

Ranked on what management guided this quarter

5x potential

1Shera Energy₹477 Cr

Rev 1Mar 1

2Prime Cable Ind.₹312 Cr

Rev 1Mar 1

3₹1.4K Cr

Rev 1Mar 2

4₹1.1K Cr

Rev 1Mar 2

5₹858 Cr

Rev 1Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

Borosil Renewables Limited has taken an enabling resolution to raise up to INR 750 crores for any eventuality but currently has no plans or need to raise capital.
The management stated that should any opportunity or need arise, they may consider fundraising, but as of now, no active fundraising is underway.
For the rooftop solar business planned for the next 1 to 1.5 years, no major capital expenditure or capital raising is envisaged as the model will be largely asset-light with outsourced components.
Expansion of manufacturing capacity (two new furnaces totaling 600 tons per day) is already underway and expected to be commissioned without mention of separate debt or equity fundraising at this stage.

See what Borosil Renewables Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The company has contracts for both medium-term and short-term orders, broadly securing quantities.
Prices remain a challenge due to fluctuating market prices for gas.
Despite duty imposition, imports continue as domestic production meets only about 30% of solar glass demand; thus, a significant portion of demand is fulfilled by imports.
Sales volumes remain strong with increasing production efficiency.
Inventory levels were notably low at the end of March 2026 due to high demand, indicating strong order fulfillment.
The company is managing supply well without disruptions so far.
Pricing is aligned with landed costs of imported Chinese glass, maintaining competitiveness.
Capacity expansion with two new furnaces (300 tons each) is expected, which will increase production and order fulfillment capabilities.

Borosil Renewables Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹440 Cr, net profit ₹169 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Borosil Renewables Ltd's management said in earlier quarters

Others in Industrial Products this season

Dhabriya Polywood Ltd (Q4 FY26)
Plan to improve capacity utilization from 50-60% to over 66% and further to 85% to reach INR450 crores revenue in profile extrusion by FY28 (Page 6, 15). Key…
SKF India (Industrial) Ltd (Q4 FY26)
SKF India plans to invest around INR 800 crores over the next 4-5 years, mainly to set up a new Pune manufacturing plant, expanding capacity especially for…
Vibhor Steel Tubes Ltd (Q4 FY26)
1,700 crore by FY28. Key concall takeaways from Vibhor Steel's Q4 FY26 earnings call — and how it ranks against sector peers.
Subros Ltd (Q4 FY26)
Potential of INR 250 crores annual revenue from e-compressor at peak. Key concall takeaways from Subros's Q4 FY26 earnings call — and how it ranks against…

Compare:vs Polycab India Ltd vs Welspun Corp Ltd vs APL Apollo Tubes Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Frequently Asked Questions

What were Borosil Renewables Ltd Q4 FY26 results?

What is Borosil Renewables Ltd share price analysis?

Borosil Renewables Ltd currently shows a neutral. The stock trades at a P/E of 19.8 with a market cap of ₹7,936 Cr. Investors should review the full earnings analysis for detailed insights.

Is Borosil Renewables Ltd planning capital expenditure?

Borosil Renewables is commissioning an expansion of 2 new furnaces, each 300 tons per day, totaling 600 tons per day, expected to be operational by January 2027, increasing capacity by 60%.

Keep Borosil Renewables Ltd on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.