Borosil Renewables Ltd

- The Board has approved raising funds through issuance of instruments of security, including equity shares or any other convertible securities, including warrants, in one or more tranches for an amount not exceeding INR 500 crores. - This enabling resolution is to meet funding requirements for any upcoming opportunities, subject to regulatory and shareholder approvals. - Recently, a preferential issue raised INR 204.42 crores, out of which INR 185 crores was used to repay loans of a step-down subsidiary. - The balance funds from the preferential issue will be used for the ongoing expansion project. - The company is re-evaluating the size of its expansion from the earlier 500 tons per day plan, with project cost finalization expected next month and commissioning targeted in Q3 FY 2026-27. - Future funding requirements for balance payments of warrants and expansion will be met by a mix of equity, debt, and internal accruals.

- Borosil Renewables is re-evaluating the size of its expansion project, initially planned at 500 tons per day; the revised plan is expected to increase capacity to about 600 tons per day. - The final project cost and investment quantum are expected to be finalized within the next month. - The new facility is targeted for commissioning in the third quarter of the financial year 2026-27 (October-December 2026). - The company is considering further expansion depending on the demand-supply situation 1.5 to 2 years after completing the current expansion. - Funding for the expansion will come from a mix of equity, debt, and internal accruals, supported by a fundraise of up to INR 500 crores through issuance of equity or convertible securities approved by the Board. - No downward revision of capacity plans; rather, capacity is being revised upwards based on supplier discussions and technology upgrades.

- Borosil Renewables expects growth driven by strong demand for solar glass due to increasing solar photovoltaic installations, with demand projected to rise to 40-45 gigawatts, driving glass demand beyond 50 gigawatts. - The company is expanding capacity, revising earlier plans from 500 tons/day to approximately 600 tons/day, aiming for commissioning by Q3 FY 2026-27. - Efforts to improve operational efficiencies are ongoing, targeting volume growth of around 8-10% in FY 26. - Rising domestic selling prices and stable tariff support are expected to improve margins and profitability. - Expansion funding includes equity, debt, and internal accruals, with INR204+ crores raised recently. - European market recovery is anticipated due to renewed governmental support, potentially increasing export sales. - The company expects improved profitability in upcoming quarters, aided by launching captive renewable power capacity reducing costs. - Demand-supply gaps in India justify further capacity additions beyond current expansion plans over the medium term.

- Borosil Renewables expects EBITDA from Indian operations to increase from INR77 crores in Q4 to over INR90 crores per quarter, indicating improving profitability. - The company anticipates volume growth in FY '26 of around 8-10% through efficiency and yield improvements. - Capacity expansion plans are being revised upwards, targeting commissioning by Q3 FY '27, which will support higher future volumes. - The introduction of a 16.5 MW solar plus wind hybrid captive power plant by Q2 FY '26 will reduce energy costs and enhance margins. - Despite current losses in the German subsidiary, efforts like cold-end operations and government incentives may reduce losses, potentially improving consolidated earnings. - Long-term outlook is positive with growing domestic demand exceeding current supply, supporting continued revenue and profit growth. - The company views the solar glass sector as a "robust sunrise industry" with good growth prospects ahead.

The transcript provided on page 18 of the Borosil Renewables Limited Q4 FY25 results call does not explicitly mention the current or expected order book or pending orders. However, some relevant insights related to demand and capacity indicate: - Demand for solar glass is robust, with anticipated growth to 40-45 GW installations in India, leading to glass demand exceeding 50 GW. - Current Indian supply is around 15 GW, with imports filling a 20 GW gap. - Borosil's current capacity is about 6.5 GW, running at approximately 95% utilization. - Capacity expansion plans are underway, aiming for 600 tons/day, expected to be commissioned in Q3 FY27. - Management is reviewing and likely increasing capex to meet growing demand. - Export sales have dropped recently due to market challenges, but European market demand is expected to rise with policy changes. Direct data on order book or pending orders is not provided in the transcript.