Borosil Renewables Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

Borosil Renewables Ltd. (BRL) is the first and largest manufacturer of solar glass in India, specializing in the production of extra-clear patterned glass used in solar photovoltaic (PV) modules. The company plays a critical role in the solar energy value chain by providing high-transmission glass essential for solar cell efficiency. BRL operates as a part of the Borosil Group, leveraging over 60 years of expertise in glass manufacturing.

Key Points

• Key Facts: Founded in 1962 and headquartered in Mumbai, Borosil Renewables is listed on the BSE and NSE. It is a pioneer in the solar glass industry, having developed the world's first fully tempered 2mm solar glass.
• Operations and Resources: The company’s primary manufacturing facility is located in Bharuch, Gujarat. As of early 2026, it maintains a production capacity of 1,000 tonnes per day (TPD), which translates to approximately 6.5 GW of solar module requirements annually.
• Privatization and Ownership: The company is part of the promoter-led Borosil Group. As of December 31, 2025, the promoter and promoter group held a 61.85% stake, while FIIs and DIIs held 4.81% and 0.78% respectively.
• Market Significance: BRL serves solar module manufacturers globally, supporting the transition to renewable energy. Its strategic importance is highlighted by its role as a domestic supplier in India, reducing reliance on imported solar glass.
• Sustainability and Innovation: BRL is working toward a solar-wind hybrid power plant, expected to be commissioned by Q2 FY26, to meet approximately 65% of its electricity needs through captive renewable sources. Innovation focus areas include anti-soiling and anti-reflective coatings to enhance energy yield and reduce maintenance.
• Business Model: The company operates on a model of large-scale manufacturing and technical innovation in specialized glass. It focuses on cost leadership through operational excellence and capacity expansion to meet growing global solar demand.

Financial Performance and Segment Breakdown

Revenue and profitability are primarily driven by the solar glass segment. For the financial year ended March 31, 2025 (FY25), the company reported:

• Consolidated Revenue: ₹1,479.33 crore (compared to ₹1,373.69 crore in FY24).
• Consolidated EBITDA: ₹92.84 crore with a margin of 6.30%.
• Consolidated PAT: A loss of ₹86.97 crore (compared to a loss of ₹50.27 crore in FY24), impacted by pricing pressures from imports and exceptional items.

Quarterly Highlights (Q3 FY26 Standalone):

• Revenue: ₹386.50 crore (40.4% YoY increase).
• EBITDA: ₹129.04 crore (33.4% margin), showing a significant recovery compared to 7.6% in Q3 FY25.
• PBT (Before Exceptional Items): ₹104.09 crore.

Geographical Revenue (FY24 data):

• India: Historically the dominant market.
• Exports: In Q2 FY26, exports reached ₹45.61 crore (12.1% of turnover). Global presence includes the USA, Spain, Germany, Turkey, and Brazil.

Products and Strategic Initiatives

• Key Products: 2mm to 4mm tempered solar glass, bifacial solar glass, and glass with specialized coatings (Anti-Reflective, Anti-Soiling, and Anti-Glare).
• Technology Advancements: Development of ultra-low iron glass and high-transmission coatings to optimize light absorption for solar cells.
• Partnerships and Clients: BRL supplies major solar module OEMs across India and international markets.
• Strategic Initiatives:
  • Capacity Expansion: Continuous monitoring of capacity to maintain its position as India's largest producer.
  • Cost Reduction: Implementation of the solar-wind hybrid plant to lower energy costs, which are a major component of glass manufacturing.
  • Global Integration: Management of international subsidiaries (including operations in Germany) to maintain a global footprint.

References

1. Annual Report May 2025
2. Investor Presentation Jan 2026
3. Investor Presentation Nov 2025
4. Annual Report May 2024