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Latest news about Borosil Renewables

Borosil Renewables Exits Germany, Refocuses on India's Booming Solar Market Aug 06, 2025

Borosil Renewables has declared its German subsidiary insolvent, booking a ₹325.91 crore loss. The company is exiting the European market due to challenges from Chinese manufacturers and refocusing on India's solar industry. Borosil's standalone revenue in India grew by 37% year-on-year to ₹332.26 crore in Q1, with EBITDA surging 211% to ₹92.53 crore. The company announced a ₹950 crore expansion plan to build two new 300-tonne furnaces at its Bharuch facility, aiming to address India's solar glass supply gap. This move is supported by favorable domestic policies, including anti-dumping duties on Chinese and Vietnamese solar glass imports.

Borosil Renewables Expands Share Capital with 1.35 Lakh Equity Shares Allotment Jul 30, 2025

Borosil Renewables Projects 28-30% EBITDA Margins, Targets 6-8% Volume Growth for FY26 Jul 25, 2025

Borosil Renewables Reports 37% Revenue Growth in Q1, Takes ₹326 Cr Hit on German Subsidiary Insolvency Jul 24, 2025

Borosil Renewables Reports Significant Net Loss Amid Revenue Growth; Announces Equity Issuance Plan Jul 23, 2025

More news about Borosil Renewables

23Jul 25

Borosil Renewables Secures Rs 379.52 Crore Fundraise Amid German Subsidiary Insolvency

Borosil Renewables, a solar glass manufacturer, approved a preferential issue of up to 70,93,874 equity shares at Rs 535 per share, aiming to raise Rs 379.52 crore from non-promoter investors. The company reported a net loss of Rs 272.35 crore for the quarter ended June 30, with revenue from operations at Rs 332.26 crore. The loss includes an exceptional item of Rs 325.91 crore due to full provision against exposure to its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, which filed for insolvency on July 4. An Extraordinary General Meeting is scheduled for August 14 to seek shareholder approval for the preferential share issue.

19Jul 25

Borosil Renewables Chairman Downplays Impact of Potential US Solar Tariffs on India

Borosil Renewables Ltd., an Indian solar glass manufacturer, expects minimal impact from potential US tariffs on solar panel imports. Chairman Pradeep Kumar Kheruka cites the absence of direct government subsidies in India's solar industry as a key factor. The company's shares rose 1.22% to Rs 587.90 on NSE. Borosil Renewables plans a board meeting on July 23, 2025, to review Q2 results and consider fund-raising options. Manufacturing Head Ayub Khan has resigned effective July 7, 2025.

07Jul 25

Borosil Renewables Shifts Focus to Indian Solar Market as German Subsidiary Faces Insolvency

Borosil Renewables is realigning its strategy to focus on India's growing solar energy market. This shift comes as its German subsidiary, Glasmanufaktur Brandenburg GmbH, files for insolvency. The company aims to capitalize on India's renewable energy initiatives and increasing demand for clean energy solutions. This move could help offset challenges in European operations and position the company for growth in the Indian solar sector.

07Jul 25

Borosil Renewables' German Subsidiary Files for Bankruptcy Amid Market Challenges

Borosil Renewables announced that its German subsidiary, GMB, has filed for bankruptcy due to challenging market conditions and poor demand in the EU. The company's exposure to GMB is approximately ₹350 crore. Despite contributing 22% to Borosil Renewables' revenue, GMB has been facing persistent losses. This strategic move aims to stop a monthly cash outflow of ₹9 crore. The bankruptcy highlights the difficulties faced by renewable energy companies in the EU market and may lead Borosil Renewables to reassess its European strategy.

06Jul 25

Borosil Renewables Shifts Focus to Indian Market as German Subsidiary Files for Insolvency

Borosil Renewables' German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency due to challenging market conditions. In response, the company is refocusing on the Indian solar glass market. Borosil plans to increase its production capacity by 600 tonnes per day with a Rs 950.00 crore investment. This strategic shift aims to capitalize on India's growing renewable energy sector.

25Jun 25

Borosil Renewables Eyes 10-20% Revenue Growth Amid Duty Considerations

Borosil Renewables, a solar glass manufacturer, anticipates potential revenue growth of 10-20% within a year, subject to the continuation of countervailing duty policies. The company's outlook depends on its production capacity and market reaction to the duty. The policy is seen as crucial for creating a favorable business environment and leveling the playing field against subsidized imports. However, the projected growth is not guaranteed and will be influenced by government decisions, production scalability, and overall market conditions in the renewable energy sector.

25Jun 25

DGTR Launches Review of Countervailing Duties on Malaysian Glass Imports, Potential Impact on Borosil Renewables

The Directorate General of Trade Remedies (DGTR) has launched a review investigation into countervailing duties on glass imports from Malaysia. This action is in response to concerns about ongoing subsidies to Malaysian glass manufacturers potentially harming domestic industries. The review specifically mentions Borosil Renewables, suggesting potential significant impacts on the company's market position. The investigation's outcome could affect market dynamics, pricing strategies, and supply chain decisions in the Indian glass industry.

20May 25

Borosil's Q4 Profit Surges 122% YoY, Plans ₹250 Crore Fund Raise

Borosil Limited's Q4 results show significant growth with net profit up 122% to ₹11.1 crore and revenue up 50% to ₹270 crore. EBITDA increased by 487.79% to ₹77 crore. Despite strong Q4 performance, annual results for FY 2023-24 were mixed with revenue up 53.17% to ₹1,369.3 crore but a net loss of ₹50.3 crore. The company announced plans to raise funds up to ₹250 crore, potentially to support growth initiatives and maintain positive momentum.

16May 25

Borosil Renewables Approves ₹950 Crore Expansion Plan for 600 TPD Capacity Increase

Borosil Renewables has revised its expansion plans, increasing production capacity by 600 tonnes per day (TPD) with two 300 TPD furnaces. The company has allocated ₹950 crore for this expansion, up from the initial ₹675 crore. This decision is based on anticipated favorable market conditions following anti-dumping measures on solar glass imports from China and Vietnam.

15May 25

Borosil Renewables Set to Benefit from New Import Duty on Solar Glass

The Indian government has implemented an import duty of up to Rs 58,000.00 per tonne on solar glass from China and Vietnam. This move is expected to benefit Borosil Renewables Ltd (BRL), India's leading solar glass manufacturer, by increasing its competitiveness and potential market share. The duty aims to protect domestic manufacturers and reduce dependence on foreign imports in the renewable energy sector, aligning with the 'Make in India' initiative. This policy change could lead to shifts in sourcing strategies for solar panel manufacturers and potential short-term price adjustments in the market.

13May 25

Borosil Renewables Anticipates Improved Profitability and Solar Sector Growth

Borosil Renewables expects improved profitability in upcoming quarters due to better selling prices and yield improvement efforts. The company projects annual solar installations in India to increase to 40-45 gigawatts, indicating significant growth in the solar energy sector. This aligns with India's push towards renewable energy adoption, potentially benefiting Borosil Renewables as a key solar glass manufacturer.

10May 25

Borosil Renewables Reports Q4 Loss Narrowing, Approves Fundraising Plan

Borosil Renewables reported a consolidated net loss of ₹29.52 crore in Q4, down from ₹53.32 crore year-on-year. Total income rose to ₹385.44 crore. The board approved seeking shareholder approval to raise up to ₹500 crore. Ashok Jain will be re-designated as a non-executive director from August 1, 2025.

28Mar 25

Borosil Renewables Fulfills €10.8 Million SBLC Obligation, Subsidiary Requests Early Repayment

Borosil Renewables Limited (BRL) has met its €10.8 million Standby Letter of Credit (SBLC) obligation to HDFC Bank Limited for its step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH (GMB). This follows a similar €10.2 million payment in March 2023. GMB requested early repayment due to challenging market conditions in Europe, including decreased demand for solar modules and Chinese dumping. GMB has temporarily suspended solar furnace operations. BRL has become a creditor to GMB for the paid amount and anticipates resuming GMB's production in the future.

27Mar 25

Borosil Renewables Secures ₹60.44 Crore Subsidy from Ministry of Electronics & IT

Borosil Renewables has received a ₹60.44 crore subsidy from the Ministry of Electronics & Information Technology (MEITY) under the Modified Special Incentive Package Scheme. The company's Secretary & Compliance Officer, Ravi Vaishnav, announced this development in a filing to stock exchanges. This financial support is expected to strengthen the company's position in the renewable energy sector, potentially enabling increased investments and enhancing its competitive advantage.

24Feb 25

Borosil Renewables Projects 30% EBITDA Margin, Boosted by Production Increase and Policy Support

Borosil Renewables aims to maintain a 30% EBITDA margin over the next 4-5 years, driven by increased production and favorable policy changes. The company projects Q4 EBITDA to exceed Rs 700-750 crore. Government's introduction of reference prices on solar glass imports is expected to benefit domestic manufacturers. The company's outlook reflects optimism in India's renewable energy sector.