Slide 1: Borosil Renewables Limited filing cover letter
BOROSIL Borosil Renewables Limited (Formerly Borosil Glass Works Ltd in which Gujarat Borosil Ltd. has amalgamated) renewables CIN: L26100MH1962PLC012538 Regd. Office :1101, Crescenzo, G-Block Opp. MCA Club, Bandra Kuria Complex Bandra (E), Mumbai - 400 051, India. T: +9122 6740 6300 F : +9122674065
Slide 2: Investor Presentation: Financial Performance for Quarter and Half Year ended 30 September 2021
: BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter and half year ended on 30% September 2021
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 in India
OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY IN INDIA 4
Slide 6: Contents
CONTENTS 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Finan
Slide 7: Indian Solar Industry Overview
1 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 8: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables- Roadmap supported by robust pipeline Total Installed Power Generation Capacity in India 389 GW as of Sep'21 (in GW) ➢ Out of total installed power generation capacity of 389 GW as of Sep’21 in India, renewables form Renewables, 102 more than 26% (101.5
Slide 9: 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 10: Power-to-x: Green Hydrogen to accelerate the adoption of renewables
Power-to-x: Green Hydrogen to accelerate the adoption of renewables Renewables + H2O Electrolysis Hydrogen (H2) + + + + N2 CO2 CO CO2 Ammonia Fischer-Tropsch Process Methanation + Methanol Synthesis (Refining & Upgradation) synthesis Liquid Ammonia Methane Methanol Hydrogen Diesel, Ethylene, as a Fu
Slide 11: Indian Solar Module Manufacturing Industry: On the cusp of Surge
Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing ➢ India has around 14~15 GW of solar module manufacturing capacity as of Sep’21 ➢ Due to stiff competition from low-priced imports and low installations, the actual Domestic Manufacturing is about 5 GW annually (about
Slide 12: Introduction to Borosil Group
2 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 13: 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) 150 111 120 94 67 62 36 32 29 84 79
Slide 14: 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 of Anti-Dumping schemes, Bharat”. Focus solar cells (25%) & modules (40%) and PLI scheme Anti dumping Duty on C
Slide 15: 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) 180 TPD 450 TPD 1000 TPD 2100 TPD Roadmap towards 2100 TPD (10 GW) Rebuilt 1st Proposed Proposed addition 550 furnace with addition of a 3rd of a 4th and 5th Furna
Slide 16: 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 18 GW of module Antidumping Duty (ADD) on solar tempered glass imports manufacturing capacity taking the same to 30-32 GW from China from August 2017 and likely
Slide 17: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 16
Slide 18: Financials
3 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 19: Financial Performance for the quarter and half year ending 30.09.2021 (1/3)
Financial Performance for the quarter and half year ending 30.09.2021 (1/3) Key Parameters Q2 FY22 Q1 FY22 Q2 FY21 Growth % Growth % H1 FY22 H1 FY21 Growth % Q2 FY22 over Q2 FY22 over H1 FY22 over Q2 FY 21 Q1 FY 22 H1 FY 21 Revenue 160.52 136.13 114.09 41% 18% 296.66 168.16 76% EBITDA 58.91 68.19 32
Slide 20: Financial Performance for the quarter ending 30.09.2021 (2/3)
Financial Performance for the quarter ending 30.09.2021 (2/3) ➢ During the quarter, the company recorded Net Sales of INR 160.52 Cr, an increase of 41% over the corresponding quarter of the previous year contributed partially by production/sales volume and the selling prices. The average ex-factory
Slide 21: Financial Performance for the half year ending 30.09.2021 (3/3)
Financial Performance for the half year ending 30.09.2021 (3/3) ➢ During the half year, the company recorded Net Sales of INR 296.66 Cr, an increase of 76% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the half year were about INR 1
Slide 22: Borosil Renewables Limited
4 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 23: 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 24: 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 25: 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 • Higher module output • Higher transmission = Higher output by the modules = Higher IRR • Transmission value reaching higher tha
Slide 26: 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 27: 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 28: 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 29: Domestic and International Customer base
5 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 30: 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 18-20% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantities
Slide 31: Sustainability and social responsibility
6 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 32: Societal Responsibility and CSR activities
Societal Responsibility and CSR activities 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 farmers in and Police, Donat
Slide 33: Other ongoing Initiatives: Societal Responsibility and CSR
Other ongoing Initiatives: 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 Nutritional requirements (
Slide 34: Awards and Recognition
7 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 35: Recent strides by Borosil Renewables Ltd.
Recent strides by Borosil Renewables Ltd. All India Glass Manufacturing Federation’s Balkrishna Gupta Award for Exports for FY21 34
Slide 36: 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 35
Slide 37: 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 38: Corporate Governance, Board of Directors and KMPs
8 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 39: 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 40: 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 41: Stock information and Contact Details
9 1. 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 surge in manufacturing 2. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. Financials 4
Slide 42: Stock Information - As on 30th September 2021
Stock Information- As on 30th September 2021 SHAREHOLDING PATTERN Non-Institutional Investors SHARES ISSUED & others 33% 13,02,39,279 Promoters and Promoter Group 62% Domestic Institutional Investors 0.04% Foreign Portfolio Investors CODE: BORORENEW CODE: 502219 5% As on 30th September 2021 41
Slide 43: 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 44: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 43