Borosil Renewables will host representatives of brokers, analysts, and institutional investors for an in-person meeting on September 23, 2026. The event is part of the JM Financial Environmental & Energy Conclave.

The company scheduled the interaction pursuant to Regulation 30 read with Para A Part A of Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The session is scheduled for 2:00 pm IST. Management will engage with participants through both group discussions and one-to-one meetings. The audience includes brokers, analysts, portfolio management services, family offices, and other institutional investors.

Borosil Renewables noted that the schedule remains subject to change based on decisions by investors, organizers, or the management team. Kishor Talreja, Company Secretary and Compliance Officer, issued the intimation on September 9, 2026.

Borosil Renewables has outlined a significant capacity expansion plan, aiming to increase its solar glass production capability from the current 1,000 TPD to 1,600 TPD. The company announced that two new furnaces, SG-4 and SG-5, with a combined capacity of 600 TPD, are scheduled for commissioning by December 2026.

Capacity Expansion Strategy

The expansion is designed to address a substantial supply gap in the domestic market. According to the presentation, India’s solar glass demand reached 11,000 TPD (71.5 GW equivalent) in FY26, while domestic capacity stood at just 2,600 TPD (16.9 GW equivalent). This created a supply deficit of 8,400 TPD (54.6 GW equivalent). Even with projected industry-wide growth to 7,900 TPD by March 2027, a significant gap remains, providing a clear runway for Borosil Renewables’ growth.

The company expects this scale-up to drive its annual turnover to approximately ₹2,500 crore, representing a roughly 60% increase over FY26 levels. Management projects an operating leverage of approximately 3% in EBITDA margins due to higher scale and efficiencies.

Financial Performance and Balance Sheet

Borosil Renewables reported a turnover of ₹1,535 crore for FY26. Over the period from FY19 to FY26, the company achieved a revenue CAGR of 32.3% and an operating EBITDA CAGR of 45.5%. The net working capital cycle stood at 46 days in FY26.

What the Numbers Show

The divergence between the company’s revenue growth (32.3% CAGR) and its margin expansion (45.5% EBITDA CAGR) indicates improving operational efficiency and pricing power over the seven-year period. Furthermore, the management’s assertion that the company will remain net cash positive even after funding the entire capex for the 600 TPD expansion suggests robust internal cash generation capabilities relative to its capital intensity.

Strategic Initiatives

Beyond capacity expansion, the company is diversifying into end-to-end rooftop solar solutions. This new adjacency involves co-branding and OEM partnerships for panels, inverters, and batteries, targeting residential, commercial, and industrial rooftops in Gujarat, Rajasthan, Uttar Pradesh, West Bengal, and Maharashtra.

Borosil Renewables also highlighted its technological edge, including:

• Development of the world’s first antimony-free textured solar glass.
• Production of fully tempered 2mm textured solar glass with 180 MPa stress endurance, double the European standard of 90 MPa.
• A manufacturing process with a reported 22% lower carbon footprint versus the default glass-manufacturing benchmark.

The company currently serves over 100 domestic customers and has an international presence in Western Europe, Türkiye, and emerging markets in the Americas and MENA.