Borosil Scientific Reports Mixed Q2 Results: Revenue Growth Offset by Margin Decline
Borosil Scientific Limited posted a 3.8% year-over-year increase in Q2 consolidated net sales to ₹106.90 crores. However, EBITDA declined 41.5% to ₹10.20 crores, and PAT fell 67.7% to ₹2.80 crores. The margin contraction was attributed to one-time expenses related to discontinued operations and a VRS settlement. The scientific segment grew 1% to ₹71.90 crores, while the glassware segment increased 7.6% to ₹32.90 crores. Despite challenges, the company maintains its medium-term revenue growth target of 12-14% CAGR, focusing on expansion in laboratory equipment and process sciences businesses.

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Borosil Scientific Limited , a leading player in laboratory glassware and scientific instruments, has released its financial results for the second quarter, revealing a mixed performance characterized by revenue growth but margin contraction.
Revenue Growth Amid Challenges
For Q2, Borosil Scientific reported a consolidated net sales increase of 3.8% year-over-year, reaching ₹106.90 crores compared to ₹103.00 crores in the same quarter last year. This growth was primarily driven by the company's scientific segment, which saw a modest 1% increase to ₹71.90 crores, while the glassware segment demonstrated stronger growth of 7.6% to ₹32.90 crores.
Margin Pressure and Profitability Decline
Despite the top-line growth, the company faced significant pressure on its margins:
| Metric | Q2 Current | Q2 Previous | YoY Change |
|---|---|---|---|
| EBITDA | ₹10.20 crores | ₹17.40 crores | -41.5% |
| EBITDA Margin | 9.5% | 16.9% | -740 bps |
| PAT | ₹2.80 crores | ₹8.80 crores | -67.7% |
The substantial decline in EBITDA and net profit was attributed to one-time expenses related to discontinued operations at the Ambad manufacturing plant and costs associated with a Voluntary Retirement Scheme (VRS) settlement amounting to ₹6.61 crores.
Segment Performance
The scientific segment, which includes laboratory glassware, consumables, and equipment, remained the primary revenue driver:
| Segment | Q2 Revenue | YoY Growth |
|---|---|---|
| Lab Consumables | ₹53.10 crores | 15.3% |
| Lab Equipment | ₹11.30 crores | 25.5% |
| Process System | ₹7.50 crores | -53.4% |
The glassware segment, comprising pharmaceutical packaging and domestic glassware, showed resilience:
| Segment | Q2 Revenue | YoY Growth |
|---|---|---|
| Pharma Packaging | ₹17.30 crores | -0.5% |
| Domestic Glassware | ₹15.70 crores | 18.2% |
Strategic Focus and Outlook
Borosil Scientific maintains its medium-term revenue growth targets of 12-14% CAGR, emphasizing expansion in laboratory equipment and process sciences businesses. The company's strategic priorities include:
- Capitalizing on the 'Make in India' initiative
- Focusing on export markets through strategic partnerships
- Leveraging the strong 'BOROSIL' brand in scientific laboratories
- Continued investment in new product development
Investor Presentation Highlights
The company's investor presentation, filed under SEBI regulations, underscores Borosil Scientific's commitment to sustainable practices and its position as a market leader in various product categories. Key points include:
- Presence in over 90 countries for laboratory glassware and pharmaceutical primary packaging
- Emphasis on environmental testing products and patented innovations like the Bottle Top Dispenser
- Recognition through awards for export excellence and best managed company
Conclusion
While Borosil Scientific faces short-term challenges in profitability, its revenue growth and strategic initiatives suggest a focus on long-term value creation. The company's strong brand presence, diverse product portfolio, and commitment to innovation position it well to navigate the current headwinds and capitalize on future growth opportunities in the scientific and glassware segments.
Investors and stakeholders will likely monitor the company's ability to improve margins and realize its medium-term growth targets in the coming quarters.
Historical Stock Returns for BOROSCI
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.64% | -2.51% | -11.52% | -32.21% | -31.97% | -32.48% |


































