Borosil Renewables , a leading manufacturer of solar glass, has reported a significant increase in its quarterly profit.

Financial Highlights

• Net Profit: Borosil Renewables reported a consolidated net profit of ₹45.80 crore for the quarter, compared to ₹12.60 crore in the same period last year, marking a 3.5x increase.
• Revenue: Revenue from operations increased 42.5% year-on-year to ₹378.40 crore from ₹265.00 crore.
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) more than doubled to ₹124.00 crore from ₹48.00 crore.
• Operating Margins: Operating margins expanded to 32.8% from 18.1%.

Performance Drivers

The company's strong performance was attributed to:

• Higher sales volumes
• Improved realizations
• Robust demand amid India's renewable energy expansion

Market Response

• Shares were trading 1.4% higher following the announcement.
• The company's stock has gained approximately 24% year-to-date.

Future Outlook

Borosil Renewables has been scaling its capacity to meet both domestic and export market demands, benefiting from the growing focus on renewable energy.

Conclusion

The significant increase in profit and revenue demonstrates Borosil Renewables' strong position in the solar glass manufacturing sector. The company's performance aligns with the broader trend of growth in India's renewable energy industry.

Borosil Renewables Limited , a key player in the renewable energy sector, has announced a significant corporate action involving the conversion of warrants into equity shares. This move is part of the company's ongoing capital restructuring efforts.

Warrant Conversion Details

The company has allotted 28,301 equity shares with a face value of Re. 1 each to Pushpman Consultants Private Limited, following the conversion of an equal number of warrants. This conversion is part of a larger allotment of 78,80,436 warrants issued on a preferential basis to non-promoter category investors.

Financial Aspects of the Conversion

The warrant conversion process involved a two-step payment structure:

Pushpman Consultants Private Limited completed the conversion by paying the balance 75% of the warrant price, amounting to Rs. 397.50 per warrant.

Impact on Share Capital

Following this allotment, Borosil Renewables' paid-up equity share capital has increased. The updated capital structure is as follows:

Key Points to Note

• The newly allotted shares will rank pari-passu with the existing equity shares of the company.
• This conversion represents only a portion of the total warrants initially issued.
• The remaining warrant holders have 18 months from the date of allotment to exercise their conversion rights.

This corporate action demonstrates Borosil Renewables' ongoing efforts to strengthen its capital base and potentially fund its growth initiatives in the renewable energy sector.