Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — FY2022 Earnings Presentation
53 slides from Borosil Renewables's earnings presentation, May 6, 2022
Slide 1: Investor Presentation cover letter to stock exchanges
BO OSIL BOROSIL Re<jd. Office: RENEWABLE$ LI M ITED U N · l26100 MH1962P (.012538 Crescenzo. G-Block. CA Bclndra 1101 O pp. ~. Club. K~, Complex renewables rld1a ( ). Mumbai- 400 OSl. lnd ia, T · -+ 9122 6740 6300 F : +91 2 6740 6514 W , www bor ilr newables.com Ern il : hrl@borosil.com May 06, 2022
Slide 2: Investor Presentation: Financial Performance for Quarter and Year Ended 31 March 2022
BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter and financial year ended on 31%' March 2022
Slide 3: Disclaimer
DISCLAIMER “This investor presentation has been prepared by Borosil Renewables Limited (“Borosil”) on a strictly confidential basis. Certain statements in this presentation may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward looking statements ref
Slide 4: Key Abbreviations
KEY ABBREVIATIONS ADD : Anti-dumping Duty GWh : Gigawatt-hour PA : Per Annum ARC : Anti-Reflective Coating INR : Indian Rupee PAT : Profit after tax AS : Anti-soiling IP : Intellectual Property PBT : Profit before tax BCD : Basic Custom Duty IPO : Initial Public Offering PID : Potential Induced Degr
Slide 5: Our vision is to be the most customer-centric company
OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY 4
Slide 6: Update on the acquisition of 100% stake in Interfloat Group
Update on the acquisition of a 100% stake in Interfloat Group by Borosil Renewables Ltd. Share purchase agreement signed on 25th April 2022. Transaction is expected to be completed in about 2-3 months. 5
Slide 7: Borosil Renewables to acquire Interfloat and GMB, largest solar glass manufacturer in Europe
Borosil Renewables Ltd. to acquire 100% stake in Interfloat and GMB (Interfloat group), the largest solar glass manufacturer in Europe 6
Slide 8: BOROSIL
BOROSIL “renewables yi) et ie
Slide 9: The existing ownership structure of Interfloat Group
The existing ownership structure of Interfloat Group HS Timber Group Blue Minds 86% 14% 86% 14% Interfloat GMB 8
Slide 10: Shareholding structure post acquisition
Shareholding structure-post acquisition BOROSIL RENEWABLES LIMITED 100% WOS 100% WOS 68.09% GIHC LIHC Holding company for Holding company for GMB Interfloat (Liechtenstein) (Brandenburg, Germany) 100% WOS 31.91% INTERFLOAT GMB 9
Slide 11: What does this acquisition bring to Borosil Renewables
What does this acquisition bring to Borosil Renewables Ltd. (BRL) • De-risking manufacturing facilities with a presence in two geographies. • Europe is on a high growth trajectory in solar and now also promoting local manufacturing of high-efficiency solar cells and modules with a focus on local sou
Slide 12: Contents
CONTENTS 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group a
Slide 13: Performance Highlights and recent industry updates
1 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 14: Performance Highlights: FY22
Performance Highlights: FY22 28% 31% 44% 85%* FY22 Vs FY21 Revenue EBITDA PBT PAT (Y-o-Y) ₹ 644.2 Crore ₹ 265.0 Crore ₹ 219.8 Crore ₹ 165.8 Crore * An increase of 53% after excluding the impact of one-time tax of INR 18.60 crore charged in the FY21 on account of disputed income tax matters of the ea
Slide 15: Recent Industry Updates
Recent Industry Updates Imposition of The customs notification has been issued on 1st February 2022 making the imposition of Basic Customs Duty (BCD) on solar cells (25%) and modules (40%) effective from April 1, 2022 following Basic Customs the announcement from the Ministry of New and Renewable En
Slide 16: Indian Solar Industry Overview
2 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 17: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables Total Installed Power Generation Capacity in India ➢ Out of total installed power generation capacity of 399 GW as of Mar’22 in 399 GW as of Mar’22 (in GW) India, renewables form around 27% of the same (110 GW) of which solar (54 GW) is about 49% of the
Slide 18: Indian solar Industry: Growth Drivers and enablers
Indian solar Industry: Growth Drivers and enablers Targets 100 GW of Installed Capacity by 2022 which is targeted to grow to 300 GW by 2030. Need annual solar installations of 25 GW to achieve National Solar Mission the target SECI Tenders Tenders by SECI for large ISTS connected projects assuring o
Slide 19: Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing
Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing ➢ India has around 15 GW of solar module manufacturing capacity as of Mar’22 ➢ Due to stiff competition from low-priced imports and low installations, the actual utilization of the Domestic Manufacturing is about 6 GW
Slide 20: Introduction to Borosil Group
3 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 21: The Borosil Group: Leadership Guiding Consistent Growth
The BOROSIL Group: Leadership Guiding Consistent Growth Borosil Renewables Ltd. Borosil Ltd. High Performance Solar Glass Consumer Products Scientific, Industrial & Pharmaceutical Laboratory Glassware and Packaging instruments Borosil Group - Net Sales (in USD Mn) ~ 200 150 111 120 94 67 62 32 36 29
Slide 22: Borosil Renewables Ltd (BRL): A Growth Story
Borosil Renewables Ltd (BRL): A Growth Story • Imposition of Countervailing Duty on solar glass imports from Malaysia India imposes CPSU/KUSUM “Aatmanirbhar • Basic Customs Duty on imports Anti-Dumping schemes, Bharat”. Focus of solar cells (25%) & modules (40%), PLI scheme and ALMM Anti dumping Dut
Slide 23: Capacity Expansion to keep pace with market growth
Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth CY18 CY 20 Est CY 22 Est CY 24 BRL’s Installed Capacity (TPD)-Projected 180 TPD 450 TPD 1000 TPD 2100 TPD Roadmap towards 2100 TPD (~13 GW) Rebuilt 1st Proposed Proposed addition 550 furnace with addition of a 3rd of a 4th an
Slide 24: Drivers of growth of Solar glass manufacturing in India
Drivers of growth of Solar glass manufacturing in India Recent announcements by various Module Manufacturers/ Solar Plant Developers to add 37 GW of module Antidumping Duty (ADD) on solar tempered glass imports manufacturing capacity taking the same to about 50 GW from China since August 2017 over n
Slide 25: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 24
Slide 26: Financials
4 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 27: Financial Performance for the quarter and year ending 31.03.2022 (1/3)
Financial Performance for the quarter and financial year ending 31.03.2022 (1/3) Key Parameters Q4 FY22 Q3 FY22 Q4 FY21 Growth % Growth % FY22 FY21 Growth % Q4 FY22 over Q4 FY22 over FY22 over Q4 FY 21 Q3 FY 22 FY 21 Revenue 179.05 168.51 193.98 -8% 6% 644.22 502.27 28% EBITDA 62.43 75.49 106.6 -41%
Slide 28: Financial Performance for the quarter ending 31.03.2022 (2/3)
Financial Performance for the quarter ending 31.03.2022 (2/3) ➢ During the quarter, the Company achieved Net Sales of INR 179.1 Cr., a decrease of 8% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the quarter were lower by about 14%
Slide 29: Financial Performance for the year ending 31.03.2022 (3/3)
Financial Performance for the financial year ending 31.03.2022 (3/3) ➢ During the year, the company recorded Net Sales of INR 644.2 Cr., an increase of 28% over the previous year. The average ex-factory prices of tempered solar glass during the year were about INR 133 per mm as compared to INR 119 p
Slide 30: Borosil Renewables Limited
5 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 31: Product Portfolio
Product Portfolio ADDITION OF VALUE MARKET SEGMENTS ADDED PRODUCTS High Performance Solar Glass for • Utility scale ground solar PV • Shakti : High Efficiency Matt – Matt • High Performance Green House Finish • Solar Rooftop, Water pumps • Selene : Anti-Glare Solar Glass • Bifacial, Glass-glass, BIP
Slide 32: USPs of Borosil's Solar Glass and Superior Performance
USPs of Borosil’s Solar Glass and Superior Performance • ENGINEERED FOR LONG TERM DURABILITY HIGHER TRANSMISSION • Low sodium. Low PID (Potential Induced Degradation) • High chemical durability: superior glass performance • Very High hydrolytic resistance • ENHANCED MECHANICAL STRENGTH • Withstood >
Slide 33: Value added products by Borosil in Solar Glass
Value added products by Borosil in Solar Glass • SHAKTI: HIGH EFFICIENCY SOLAR GLASS IN MATT-MATT FINISH • Recently developed a solar glass with matt finish on both sides • Leading to a Higher light transmission • Transmission value reaching higher than 94% with use of an appropriate AR Coating • No
Slide 34: Innovation by Borosil in Solar Glass
Innovation by Borosil in Solar Glass • NoSbEra: ANTIMONY-FREE SOLAR GLASS BY BOROSIL A PATENTED TECHNOLOGY BY BRL • No other forms of flat glass today contains Antimony. Only solar glass does. • It leaches out of glass like sugar from a candy stick • Borosil is the only solar glass manufacturer in t
Slide 35: Products to meet the evolving requirements
Products to meet the evolving requirements Growth of Glass-Glass modules Growth of Thinner glass Solar PV market is moving towards • Bifacial modules • Glass to glass modules • Frameless modules In order to achieve the optimum module weight, the Solar PV market is moving towards use of thinner glass
Slide 36: Innovations in Manufacturing Processes with a view to care for environment
Innovations in Manufacturing Processes with a view to care for environment • Efficient and cost-effective, low Energy Intensive Process • The Company has a 22% lower carbon footprint in comparison to the default score for glass manufacturing in Life Cycle Assessment. This value is the best value so
Slide 37: Domestic and International Customer base
6 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 38: A Strong Domestic and International Presence
Borosil Renewables Ltd.: A Strong Domestic and International Presence • A Global Presence with products matching international standards and quality requirements with ~20% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantities s
Slide 39: Sustainability, social responsibility, and our ESG journey
7 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 40: Borosil Renewables: An ESG Journey
Borosil Renewables: An ESG Journey ESG is outcome-driven and not just good intentions. Environment Social Governance • Employee health • Emissions and safety • Risk management • Water Investors • Community system • Energy relations • Code of conduct • Climate change • Labour practices • Emissions •
Slide 41: Borosil Renewables: An ESG Journey
Borosil Renewables: An ESG Journey Borosil Renewables Limited has embarked on a transformational journey where ESG is the core of how we do business. Our strategic ESG priorities Our actions in FY22 • Aim to achieve Carbon neutral operations Greener planet • Plans to undertake GHG monitoring and inv
Slide 42: Ongoing Initiatives: Societal Responsibility and CSR
Ongoing Initiatives at Borosil Renewables Ltd.: Societal Responsibility and CSR • The company helps running a CBSE school (CKG Highschool) in Govali village • Sewa Yagna Samiti. Bharuch. • Contribution to Gram Vikas Trust for • Borosil supports the Civil Hospital with their Vidyasaathi Project Nutri
Slide 43: Societal Responsibility and CSR activities across the Borosil Group
Societal Responsibility and CSR activities across the Borosil Group Initiatives during Covid-19: The foundation is supporting On the CSR front, BRL Donation of PPE kits to women athletes who are continues to play an active Covid-19 Warriors – Doctors striving to win medals at the role in helping far
Slide 44: Awards and Recognition
8 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 45: Recognition received for 2 mm fully tempered solar glass
Recognition received for 2 mm fully tempered solar glass World’s 1st company to produce 2 mm fully Honourable Prime tempered solar glass Minister of India Mr. Narendra Modi Message from Hon. Prime Minister on the occasion of inauguration of 2 mm Fully Tempered solar glass facility 44
Slide 46: Other Industry awards and recognition
Other Industry awards and recognition National Award 2021 15th FGI AWARDS for Prestigious Gold Medal at India Economic Times' 40 under 40 award EXCELLENCE in the category of By Dept. of Science and Green Manufacturing Challenge for 2019 - “Outstanding Entrepreneur” Technology, Govt. of India 2020-21
Slide 47: Corporate Governance, Board of Directors and KMPs
9 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a gr
Slide 48: Corporate Governance: A professionally managed business backed up by family
Corporate Governance: A professionally managed business backed up by family 40 years of experience in He is an I.A.S. (Retd.) and has a various industries in techincal, career spanning 39 years in the Industrialist having Rich production, projects and Indian Administrative Service experience in the
Slide 49: Corporate Governance: Senior Management
Corporate Governance: Senior Management Name Designation Key Responsibility ➢ Provide leadership and direction to the Board and assume Mr. Pradeep Kumar Kheruka Executive Chairman responsibility for the strategic initiatives. ➢ Provide direction to the organization and establish a policy Mr. Shreeva
Slide 50: Stock information and Contact Details
10 1. Performance Highlights and recent industry updates 2. Indian solar Industry Overview ➢ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➢ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a g
Slide 51: Stock Information as of 31st March 2022
Stock Information- As of 31st March 2022 SHAREHOLDING PATTERN Non-Institutional Investors SHARES ISSUED & others 33% 13,03,55,279 Promoters and Promoter Group 61.69% Domestic Institutional Investors 0.06% Foreign Portfolio Investors CODE: BORORENEW CODE: 502219 5% 50
Slide 52: Contact Information
Contact Information Registered Office Mumbai Registered Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 INVESTOR RELATIONS investor.relations@borosilrenewables.com Tel: +91 22 6740 6300, Fax: +91 22 67406514 Works Ankleshwar - Rajpipla Road, Villag
Slide 53: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 52