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Borosil Renewables Q2 FY27 Share Price & Earnings Call Analysis

₹386.65-1.75% today
Market cap
₹5,691 Cr
P/E
14.17
ROE
27.74%
PEG
0.24
Price to sales
3.54
Debt to equity
0.11
52W high / low
₹699 / ₹377
Sales growth (5Y)
24.95%
EBITDA margin
31.67%
Net profit margin
23.53%
Promoter holding
56.02%
Sales (last year)
₹1,608 Cr

Borosil Renewables is engaged in manufacturing extra clear patterned glass and Low Iron Solar Glass for application in Photovoltaic panels, Flat plate collectors and Greenhouses. (Source: 202003-01 Annual Report Page No:188)

Guidance scorecard · Q2 FY27 call

What Borosil Renew.'s management guided
and where it ranks in Industrial Products

#47of 100 in
Industrial Products
Revenue20–40%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Company aims to grow from INR2,500 crores revenue to around INR4,000 crores in the next 3-4 years.
  • Expansion underway to increase capacity from 1,000 TPD to 1,600 TPD by March 2027, expecting corresponding rise in production and EBITDA.
  • Volume growth of 8% in the recent quarter, with net production 10% higher.
  • Demand remains robust; even with capacity expansion to 7,700 TPD by March 2027, it will meet only 25% of demand.
  • Capacity expansions will support servicing new and existing customers, with flexibility on client composition due to industry consolidation.

2 more points from Borosil Renew.'s call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Borosil Renew. said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Borosil Renewables is expanding capacity by 600 TPD, expected to be completed by December 2026 and commissioned by March 2027, increasing total capacity from 1,000 TPD to 1,600 TPD.
  • Any further capacity beyond the current 600 TPD expansion would require a separate new project with new building and facilities.
  • Financing for ongoing expansion is fully funded; future expansions may involve a mix of equity (funded through internal cash generation) and some debt; no near-term equity raise planned.
  • The company is also selectively expanding into solar rooftop solutions and solar kits, which is nascent but seen as a large opportunity.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what Borosil Renew. said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company is currently unable to meet demand fully due to capacity constraints.
  • They are unable to service some customers they would like to onboard.
  • Expansion plans aim to increase capacity by 600 tons per day by December 2026.

2 more points from Borosil Renew.'s call on the order book

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Full Q1 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Borosil Renew. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Borosil Renew. announcements

All announcements →

Financials of Borosil Renew.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Borosil Renew.

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +61.60%61.60%61.60%61.59%61.58%62.20%61.93%61.85%58.77%58.77%58.78%56.01%
FIIs +4.48%4.37%4.31%4.18%5.35%4.54%4.62%4.81%4.01%4.27%6.14%5.88%
DIIs +0.74%0.26%0.24%0.23%1.02%1.20%0.72%0.78%2.57%2.33%2.62%2.24%
Public +33.18%33.78%33.84%34.00%32.05%32.07%32.74%32.57%34.67%34.63%32.46%35.86%
No. of Shareholders2,77,7473,20,5023,22,7313,06,5322,83,9552,77,7952,66,4352,51,0062,41,5752,37,0502,25,3752,26,275

Financials of Borosil Renew.

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +280241227241266275327332378386438406396
Expenses +259222219215218256257245255265302278291
Operating Profit211882748197087124122136128105
OPM %8%8%3.4%11%18%7%21%26%33%32%31%32%27%
Other Income +6453527-320-32791411
Interest8926857443323
Depreciation26292929282725222222212122
Profit before tax-7-15-18-517-1145-2596610412011892
Tax %-16%-28%-24%-27%28%-18%26%5%31%25%-41%26%24%
Net Profit +-6-11-13-413-933-27246781698870
EPS in Rs-0.44-0.85-1.02-0.280.97-0.662.50-20.473.445.5812.066.254.76

Financials of Borosil Renew.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1752222672962172715026416859881,1071,5301,626
Expenses +1682122482551822343053975278869421,0601,135
Operating Profit71019413437197245158102165470491
OPM %4.3%4.7%7%14%16%14%39%38%23%10%15%31%30%
Other Income +621112635303520191716-33841
Interest01100783726261411
Depreciation556518324242501141088786
Profit before tax641513870461153220119-214731435
Tax %23%-4%8%34%-0%64%41%25%26%-23%29%33%
Net Profit +4916127464609016689-173321405
EPS in Rs4.101.6913.775.025.010.046.8912.726.78-1.272.531.4828.65
Dividend Payout %15%37%5%12%13%0%0%0%0%0%0%0%

Financials of Borosil Renew.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital322291113131313131415
Reserves6946347698193233156027728658491,0761,4921,929
Borrowings +23300429279157363355251162128
Other Liabilities +50374165517589113151133174148184
Total Liabilities7507058138874254947831,0551,3911,3491,5141,8162,255
Fixed Assets +156158109108117345320278935836704612586
CWIP65541251429715918108348
Investments4453804545094672802141269107630541
Other Assets +143162245266138141178267430437686467780
Total Assets7507058138874254947831,0551,3911,3491,5141,8162,255

Financials of Borosil Renew.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +462530-49261611732692186425
Cash from Investing Activity +21576-17-48-61-332-260-221-86-342-711
Cash from Financing Activity +-5-162-34-78835172961858142316
Net Cash Flow01-26-9119-1014-1430
Free Cash Flow40-49589-204-78134-200-28914130229
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit147%141%199%107%-97%110%93%98%26%95%111%106%

Financials of Borosil Renew.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days666160864155533429383629
Inventory Days13111510395242203128221427182194119
Days Payable31283778677576104107616549
Cash Conversion Cycle16514812610321618210515034915916599
Working Capital Days109851651385046532848293117
ROCE %5%6%6%8%8%2%29%27%11%0%6%27%

Guidance history

How Borosil Renew.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedNone planned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →0–10%FlatPlannedNone planned—
Q2 FY26 call →20–40%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

6out of 100

Momentum score · price trend

6 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−40.8%12%
Last 6 months−22.9%17%
Last 3 months−30.4%5%

The price is 50.4% below its all-time high of ₹780.15 (22 Apr 2022). Stocks more than 20% below their peak have their score halved, so 12 became 6.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Borosil Renew.: 0.4 × 12 + 0.4 × 17 + 0.2 × 5 = 12, halved to 6 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Borosil Renew.'s management said in earlier quarters

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