Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q2 FY25 Earnings Presentation
30 slides from Borosil Renewables's earnings presentation, Nov 11, 2024
Slide 1: Exchange filing cover letter
November 11, 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
Slide 2: Investor Presentation Q2FY25
INVESTOR PRESENTATION Q2FY25 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 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 with a combined capacity glassware and Ki
Slide 7: Standalone Q2/H1 FY25 P&L
Standalone Q2/H1 FY25 P&L Standalone Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q2FY25 Q1FY25 Q2FY24 Change% Change% H1FY25 H1FY24 FY24 Revenue 264.94 241.40 280.17 -5% 10% 506.34 517.99 985.87 EBITDA 52.88 29.71 26.60 99% 78% 82.59 83.12 118.93 EBITDA % 20.0% 12.3% 9.5% 110% 62% 16.3% 16.0%
Slide 8: Standalone Q2/H1 FY25 Key Highlights
Standalone Q2/H1 FY25 Key highlights of Standalone Quarterly Results ❖ Overall, the Company’s performance has shown improvement compared to the immediately preceding quarter. The Total sales during Q2FY25 grew by 9.75%, inching upto INR 264.94 cr from INR 241.40 Cr in the preceding quarter. The impr
Slide 9: Consolidated Q2/H1FY25 P&L
Consolidated Q2/H1FY25 P&L Consolidated Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q2FY25 Q1FY25 Q2FY24 Change% Change% H1FY25 H1FY24 FY24 Revenue 372.42 370.79 401.66 -7% 0% 743.21 756.16 1,369.28 EBITDA 34.57 25.91 37.14 -7% 33% 60.48 71.58 74.85 EBITDA % 9.3% 7.0% 9.2% 0% 33% 8.1% 9.5% 5.
Slide 10: Proposed Fund Raise Status
Proposed Fund Raise Status • The Company on 10th June 2024 had filed a draft letter of offer (DLOF) to SEBI to raise funds upto INR 450 Crs by a Rights Issue of equity shares. • The proceeds are proposed to be utilized mainly to reduce the debt for the Indian operations as well as at the overseas op
Slide 11: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • The Ministry of Finance (MoF) have imposed Basic Customs Duty (BCD) on imports of solar glass (10%) effective from 1st October 2024. This will provide some support in the selling prices and encourage domestic manufacturing
Slide 12: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of ~453 GW as of Q2 FY25 in India, the share of renewables has reached 34% (~155 GW). The share of solar (91 GW) has further increased to Total Installed Power Generation Capacity about 59% of the renew
Slide 13: Our Worldwide Presence
Our Worldwide Presence • A global presence with products matching international standards and quality requirements, with over 18.45% of • Netherlands • Bulgaria • Germany • Turkey revenue coming from exports. • France • Jordan • Portugal • Greece • The largest manufacturer of solar glass in India, o
Slide 14: Our Capacity (TPD)
Our Capacity (TPD) India Furnace 1 India Furnace 2 7.5x Over 6 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) 13
Slide 15: 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 16: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 15
Slide 17: 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 18: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • 17
Slide 19: 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. This shift will significantly increase the overall
Slide 20: Promising 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 21: Indian Solar PV Manufacturing
Indian Solar PV Manufacturing • India has a solar module manufacturing capacity of around 75 GW currently and projected to reach 150 GW in the next 2 years as new capacities are expected to be added by various existing and new players . • In H1FY25, the solar installations were higher at about 8.9 G
Slide 22: 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 23: Eco-Conscious Innovators
Eco-Conscious Innovators • Efficient and cost-effective, low energy intensive process • A Life Cycle Assessment carried out by a reputed European institute indicated that the company maintained a 22% lower carbon footprint in comparison with the default value for glass manufacturing. • Use of low-co
Slide 24: 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 25: ESG Journey
ESG Journey Our strategic ESG priorities Our Actions • ESG target disclosures and dedicated dashboard • Aim to achieve Carbon neutral operations to track emissions. • Explore waste management Greener planet • Increase the ratio of sales in reusable packaging opportunities material and explore furthe
Slide 26: 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 27: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price NSE (₹) 580 Public & 560 Others, 540 520 33.99% 500 480 460 440 420 400 Promoter & Promoter Group, 61.60% DII, 0.23% ₹6535 Market Cap cr FII, 4.19% NSE: as on 11th Nov 2024 As on 30th Sep 2024 26
Slide 28: Board Of Directors
Board Of Directors Also the Managing He is an I.A.S. (Retd.) and has a Director and CEO of career spanning 40 years in the Industrialist having Rich Indian Administrative Service Borosil Limited with more experience in the Glass Industry than 17 years Corporate experience. Mr P.K. Kheruka Mr Shreeva
Slide 29: 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 30: Thank You
Thank You Balesh Talapady Vice President – Investor Relations Balesh.talapady@borosil.com Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 29