Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q4 FY24 Earnings Presentation
31 slides from Borosil Renewables's earnings presentation, May 27, 2024
Slide 1: Exchange intimation letter for investor presentation
May 27, 2024 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip code: 502219 Symbol: BORORENEW Dear Sirs, Subject: Investor Presentation Pursuant to Regu
Slide 2: Greener World – Investor Presentation Q4 & Full Year FY24
GREENER WORLD INVESTOR PRESENTATION Q4 & Full Year FY24 1
Slide 3: Safe Harbour
Safe Harbour THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF BOROSIL RENEWABLES LIMITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background inf
Slide 4: Contents
Contents 1. Our Vision/Purpose & Our Group 2. Financials 3. Industry updates 4. Increasing Share of Solar in Rising Renewables 5. Our Worldwide Presence 6. Our Capacity & Growth 7. Our USP, Innovations & Constant Evolution 8. Growth Drivers & Indian Solar Module Manufacturing Industry 9. Product Por
Slide 5: Our Vision Purpose
Our Vision Purpose “To be the most Customer “Pioneering a sustainable future Centric Company” with reliability and quality” 4
Slide 6: Our Group
Our Group Borosil Group Borosil Renewables Limited Borosil Limited Borosil Scientific Limited Recently Demerged from Borosil Limited. One of the leading players in Laboratory INDIA’s first and largest solar glass One of the Market leaders in consumer Consumables, Laboratory Equipment, manufacturer w
Slide 7: Standalone Q4 & Full Year FY24 P&L
Standalone Q4 & Full Year FY24 P&L Standalone Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q4FY24 Q3FY24 Q4FY23 Change% Change% FY24 FY23 Revenue 227.23 240.65 187.54 21% -6% 985.87 688.17 EBITDA 13.13 22.69 38.02 -65% -42% 118.93 176.55 EBITDA % 5.8% 9.4% 20.3% -71% -39% 12.1% 25.7% Interest
Slide 8: Standalone Q4 & Full Year FY24 Key Highlights
Standalone Q4 & Full Year FY24 Key highlights of Standalone Quarterly Results Key highlights of Standalone Full Year Results ❖ During Q4FY24, the company recorded Net Revenue from ❖ During FY24, the company recorded Net Revenue from Operations Operations of INR 227.23 Cr as against INR 187.54 Cr in
Slide 9: Consolidated Q4 & Full Year FY24 P&L
Consolidated Q4 & Full Year FY24 P&L Consolidated Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q4FY24 Q3FY24 Q4FY23 Change% Change% FY24 FY23 Revenue 283.11 330.01 309.05 -8% -14% 1369.28 894.03 EBITDA -20.82 24.08 39.08 74.85 162.87 EBITDA % -7.4% 7.3% 12.6% 5.5% 18.2% Interest 3.16 7.44 4.80
Slide 10: Consolidated Q4 & Full Year FY24 Key Highlights
Consolidated Q4 & Full Year FY24 Key highlights of Consolidated Quarterly Results Key highlights of Consolidated Full Year Results ❖ During Q4FY24, the company recorded Net Revenue from ❖ During FY24, the company recorded consolidated Net Operations of INR 283.11 Cr as against INR 309.05 Cr in Reven
Slide 11: Proposed Fund Raise
Proposed Fund Raise • Besides taking certain loans to finance the expansions in India, the Company also has provided financial support to the step-down manufacturing company i.e. GMB for their borrowing of Euro 24 Mn (Rs 217 crores) to meet its capex requirements by facilitating through security pro
Slide 12: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • The Ministry of New and Renewable Energy (MNRE) has re-imposed the Approved List of Models and Manufacturers (ALMM) order for solar photovoltaic (PV) modules from April 1, 2024. The projects commissioned after 1st April 202
Slide 13: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of 443 GW as of Apr’24 in India, the share of Total Installed Power Generation Capacity renewables has reached 33% (145 GW). The share of solar (83 GW) has further increased to in India 443 GW as of Apr
Slide 14: Our Worldwide Presence
Our Worldwide Presence • Netherlands • Bulgaria • Germany • Turkey • France • Jordan • A Global Presence with products matching international • Portugal • Greece standards and quality requirements with over 18% of • Italy • Croatia revenue coming from exports USA Canada India • Largest Manufacturer
Slide 15: Our Capacity (TPD)
Our Capacity (TPD) India Furnace 1 India Furnace 2 7.5x Over 5 Years 1350 550 Germany Furnace 1 India Furnace 3 750 300 350 450 450 450 240 240 240 240 240 180 180 210 210 210 210 210 CY18 CY19 CY20 CY21 CY22 As on date Tonnes per day (TPD) 14
Slide 16: Capacity Planning
Capacity Planning Combined Installed Capacity (TPD)-Projected CY18 CY 20 CY 22 CY 23 & 24 Est CY 25 2450 TPD Combined Solar Glass 180 TPD 450 TPD 750 TPD 1350 TPD Capacity Planned 2450 TPD Rebuilt 1st Acquired Addition of 3rd The proposed (〜16 GW) furnace with Interfloat Group furnace with a additio
Slide 17: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… 3rd furnace with 550 TPD capacity: commissioned in Q4 FY23 BRL sets up India's first and only solar glass production line with a Acquisition of 86% stake in 180 ton per day (TPD) facility in Interfloat group, Europe
Slide 18: Our USP
OUR USP HIGHER TRANSMISSION ENGINEERED FOR LONG TERM DURABILITY • • • ENHANCED MECHANICAL STRENGTH • • • TEMPERED GLASS IS SAFER AND STRONGER • • Wavelength range (nm) Supplier 380-780 380-1100 380-2500 BOROSIL 91.76% 91.68% 91.31% Company X 91.73% 91.51% 91.00% Company H 91.74% 91.58% 91.08% Normal
Slide 19: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • 18
Slide 20: Constant Evolution
CONSTANT EVOLUTION Products designed to align with changing demands and emerging needs Solar PV market is moving towards use of bifacial modules and glass-glass modules which has accelerated the use of thinner solar glass to optimize module weight Growth of bifacial modules Growth of Glass-Glass mod
Slide 21: Growth Drivers
Growth Drivers National Solar Mission PLI Scheme National Tariff Policy Targets of 280 GW installed solar Total Production Linked Incentive (PLI) granted Enforcing the Renewable Purchase Obligation targets capacity to be achieved by 2030. Need in two tranches is about Rs. 18,500 Cr. This to promote
Slide 22: Indian Solar PV Manufacturing
Indian Solar PV Manufacturing • India has a solar module manufacturing capacity of around 65 • In FY24 the domestic solar PV module production increased to GW as of Apr’24, on track to hit 110 GW by 2026 as per CII-EY about 15 GW for domestic installations from about 10 GW report on Aatmanirbhar Bha
Slide 23: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE ADDED PRODUCTS • High-Performance Solar Glass for • Utility-scale ground solar PV • Shakti / Clear : High Efficiency Matt – • High-Performance Green House Matt Finish • Solar Rooftop • Selene / Deflect : Anti-Glare Solar • Bifacial, Glass-glass, BI
Slide 24: Eco-Conscious Innovators
Eco-Conscious Innovators • 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 the Life Cycle Assessment. This value is the best value so far for glass manufacturing as per a very repu
Slide 25: ESG Journey
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 • Health and • Water safe
Slide 26: ESG Journey
ESG Journey Our strategic ESG priorities Our Actions in FY24 • GHG monitoring and inventorization • Aim to achieve Carbon neutral operations undertaken to track emissions • Explore waste management Greener planet • Increase the ratio of sales in reusable opportunities packaging material and explorin
Slide 27: Awards & Accolades
Awards & Accolades 2023 2023 2023 Mr. P. K. Kheruka received Great Place to Work Top Exporter Award prestigious EY entrepreneur of the Mar 22 to Mar-23 from CAPEXIL for FY21-22 year award in a category-2023 2022 2021 2021 17th FGI AWARDS for EXCELLENCE National Award AIGMFs in the category of “Outst
Slide 28: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price BSE (₹) 700 Public & 600 Others, 500 33.78% 400 300 200 100 0 Promoter & Promoter Group, 61.60% DII, 0.26% ₹6555 Market Cap cr FII, 4.36% BSE: as on 17th May 2024 As on 31st March 2024 27
Slide 29: Board Of Directors
Board Of Directors He is an I.A.S. (Retd.) and has a career spanning 40 years in the Industrialist having Rich Indian Administrative Service experience in the Glass Former Director of the Industry Intelligence Bureau, the main P.K. Kheruka Pradeep Bhide internal intelligence agency of Executive Chai
Slide 30: Key Abbreviations
Key Abbreviations GWh : Gigawatt-hour PA : Per Annum ADD : Anti-dumping Duty INR : Indian Rupee PAT : Profit after tax ARC : Anti-Reflective Coating IP : Intellectual Property PBT : Profit before tax AS : Anti-soiling IPO : Initial Public Offering PID : Potential Induced Degradation BCD : Basic Cust
Slide 31: Thank You
Thank You INVESTOR RELATIONS investor.relations@borosilrenewables.com Tel: +91 22 6740 6300, Fax: +91 22 67406514 Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 30