Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q3 FY2024 Earnings Presentation
28 slides from Borosil Renewables's earnings presentation, Feb 8, 2024
Slide 1: Committed towards a Greener World
Committed towards a GREENER WORLD
Slide 2: 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 3: 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 4: Our Vision Purpose
Our Vision Purpose “To be the most Customer “Pioneering a sustainable future Centric Company” with reliability and quality” 4
Slide 5: Our Group
Our Group 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 Equipments, manufacturer with a combined capacity glassware and Kitchenware Pharma Primary Packaging and Proc
Slide 6: Q3/9MFY24 P&L
Q3/9MFY24 P&L Standalone Profit & Loss Snapshot Consolidated YoY QoQ Particulars (₹ Crs) Q3FY24 Q2FY24 Q3FY23 Change% Change% 9MFY24 9MFY23 FY23 Q3FY24 9MFY24 Revenue 240.65 280.17 161.39 49% -14% 758.64 500.63 688.17 330.01 1086.17 EBITDA 22.69 26.6 43.11 -47% -15% 105.81 138.53 176.55 24.08 95.66
Slide 7: Q3/9MFY24 P&L Notes
Q3/9MFY24 P&L Notes to Quarterly Results Notes to Nine Months Results ❖ During Q3FY24, the company recorded standalone Net Revenue ❖ During 9MFY24, the company recorded standalone Net Revenue from Operations of INR 240.7 Cr, an increase of 49% over the from Operations of INR 758.6 Cr, an increase of
Slide 8: Proposed Fund Raise
Proposed Fund Raise • Besides taking certain loans to finance the expansions in India, the Company had invested in acquiring overseas companies namely GMB Glasmanufaktur Brandenburg GmbH (GMB) and Interfloat Corporation (IF) by using internal funds. Subsequently, the Company also has provided financ
Slide 9: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • Pradhan Mantri Suryoday Yojana: Prime Minister Shri Narendra Modi announced the launch of the Pradhan Mantri Suryodaya Yojana. This visionary scheme aims to install rooftop solar power systems in one crore households across
Slide 10: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of 428 GW as of Dec’23 in India, the share of Total Installed Power Generation Capacity renewables has reached 31% (134 GW). The share of solar has reached 73 GW which is about in India 428 GW as of Dec
Slide 11: 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 25% of • Italy • Croatia revenue coming from exports USA Canada India • Largest Manufacturer
Slide 12: Our Capacity (TPD)
Our Capacity (TPD) Furnace 1 Furnace 2 7.5x Over 5 Years 1350 550 Germany Furnace 1 Furnace 4 750 300 350 450 450 450 240 240 240 240 240 180 180 210 210 210 210 210 CY18 CY19 CY20 CY21 CY22 As on date Tonnes per day (TPD) 12
Slide 13: 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 14: 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 Acquisition of 86% stake in Interfloat group, Europe’s largest solar glass manufacturer BRL sets up India's first and only solar glass production line with
Slide 15: 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 16: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • • 16
Slide 17: 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 18: 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 19: Indian Solar Module Manufacturing Industry
Indian Solar Module Manufacturing Industry • India has a solar module manufacturing capacity of around • The share of domestically produced modules started to rise 38 GW as of Mar’23 on track to hit 110 GW by 2026 as per but this received a set back in the second half of the current CII-EY report on
Slide 20: 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 21: 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 Life Cycle Assessment. This value is the best value so far for glass manufacturing as per a very reputed
Slide 22: 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 23: 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 • Increase the ratio of sales in reusable opportunities packaging material and exploring further • Tra
Slide 24: 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 25: Shareholding Pattern
Shareholding Pattern Shareholding Pattern Borosil Renewables Limited Stock Price BSE (₹) Public & 700 600 Others, 500 33.18% 400 300 200 100 0 Promoter & Promoter Group, 61.60% DII, 0.74% ₹8164 Market Cap cr FII, 4.48% BSE: as on 2nd Feb 2024 As on 31st Dec 2023 25
Slide 26: Board Of Directors
Board Of Directors 42 years of experience in He is an I.A.S. (Retd.) and has a various industries in career spanning 40 years in the Industrialist having Rich techincal, production, Indian Administrative Service experience in the Glass projects and General Industry Management P.K. Kheruka V. Ramaswa
Slide 27: Key Abbreviations
Key Abbreviations PA : Per Annum ADD : Anti-dumping Duty GWh : Gigawatt-hour 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 28: 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 28