Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q3 FY2021 Earnings Presentation
40 slides from Borosil Renewables's earnings presentation, Feb 15, 2021
Slide 1: Letter to stock exchanges: presentation on quarter and nine months results
Februarry 14, 2021 CS - CRD The DC Natiional Stock k Exchangee of India Ltd. L BSE Limited Exchhange Plaza, C-1, Blocck G, Corpora ate Relation nship Deparrtment Bandra Kurla Complex, C 1st Floo or, New Tradding Ring, Bandra (East), Mumbai – 4400 051 Rotunda Building, P. J. Towerrs, Dalal Street, Mu
Slide 2: Financial Performance for the quarter and 9 months ended 31st December 2020
BOROSIL “renewables - BOROSIL _ Tenewables — IUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY IN INDIA Financial Performance for the quarter and 9 months ended on 31st December 2020
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 NSM : National Solar Mission FY : Financial Year ending 31st March ARC : Anti-Reflective Coating OEE : Overall Equipment Effectiveness GBL : Gujarat Borosil Limited AS : Anti-soiling PA : Per Annum GW : Gigawatt BCD : Basic Custom Duty PAT : Profit after tax
Slide 5: Agenda
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 6: Indian Solar Industry Overview
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 7: Increasing share of Solar in Rising Renewables-Robust order pipeline
Increasing share of Solar in Rising Renewables-Robust order pipeline Total Installed Power Generation capacity 375 GW as of Dec’20 Out of total installed power generation capacity of 375 GW as of Dec’20 in India, [CATEGORY renewables form around 24% (91 GW) of which solar (37.5 GW) is about 40% of
Slide 8: Indian solar Industry: Growth Drivers and enablers
Indian solar Industry: Growth Drivers and enablers National Solar Mission • Targets 100 GW of Installed Capacity by 2022 which is targeted to grow to 300 GW by 2030 SECI Tenders • Tenders by SECI for large ISTS connected projects assuring offtake and payment security to the project developers Kusum
Slide 9: 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 11 GW of solar module manufacturing capacity as of Dec’20 Due to stiff competition from low-priced imports, the actual Domestic Manufacturing is about 4-5 GW However, this trend is expected to ch
Slide 10: Introduction to Borosil Group and a growth story of Borosil Renewables
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 11: The BOROSIL Group: Leadership Guiding Consistent Growth
The BOROSIL Group: Leadership Guiding Consistent Growth Borosil Renewables Ltd. Borosil Ltd. Consumer Scientific, Industrial & Pharmaceutical High Performance Solar Glass Products Laboratory Glassware and Packaging instruments (Formerly known as Borosil Glass Works Ltd in which Gujarat Borosil Ltd.
Slide 12: Borosil Renewables: A Growth Story
Borosil Renewables: A Growth Story CPSU/KUSUM schemes, “Aatmanirbhar India imposes Anti- domestic manufacturing Bharat”. Focus on Dumping Duty on Anti dumping linked solar projects manufacturing in India Chinese imports to margin of 40% is promote domestic established against The Solar Gla
Slide 13: Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth
Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth BRL’s Installed Capacity (TPD) FY19 FY20 Est FY23 950 180 TPD 450 TPD 950 TPD Scaled up 1st 500 furnace capacity to 210 tons/day Proposed addition of a 3rd furnace with a 450 450 450 capacity of 500 Added 2nd tones/ day by fu
Slide 14: Drivers of growth of Solar glass manufacturing in India
Drivers of growth of Solar glass manufacturing in India Potential to increase export of Solar Glass Shift towards Glass-glass and Bifacial modules globally A very good potential to increase exports to Europe, Americas, Russia, Turkey and MENA due to renewed focus on domestic modules manufacturing in
Slide 15: Borosil Renewables' Factory at Bharuch, Gujarat
Borosil Renewables' Factory at Bharuch, Gujarat 14
Slide 16: Financials
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 17: Quarterly Financial Performance (1/4)
Quarterly Financial Performance (1/4) All values in INR Cr. Key Parameters Q3 FY21 Q2 FY21 Q3 FY20 Growth % Growth % 9M FY21 9M FY20 Q3 FY21 over Q3 FY21 over Q3 FY 20 Q2 FY 21 Revenue 140.13 114.09 75.18 86% 23% 308.29 176.90 EBITDA 53.65 32.39 10.18 427% 66% 96.13 18.86 EBITDA % 38.3% 28.4% 13.5%
Slide 18: Quarterly Financial Performance (2/4)
Quarterly Financial Performance (2/4) The operational efficiencies and benefits of expansion which started to accrue in Q2FY21 were consolidated further in Q3. The demand and prices continued to show a firm trend in Q3 FY21 influenced by initiatives like “Atmanirbhar Bharat”, prevailing Geo-politi
Slide 19: Quarterly Financial Performance (3/4)
Quarterly Financial Performance (3/4) In Q3 FY21, the Company successfully completed fund raising of Rs. 200 Cr through a Qualified Institutions Placement (QIP). The QIP witnessed an over subscription from highly reputed global and Indian institutional investors. The marquee international privat
Slide 20: Quarterly Financial Performance (4/4)
Quarterly Financial Performance (4/4) During Q3FY21 the company has charged a one-time amount of INR 18.60 crore pertaining to taxation in previous years. During 2016-17, the Municipal Corporation of Greater Mumbai (MCGM) had made a compulsory acquisition of land owned by the company. The company’s
Slide 21: Borosil Renewables Limited: Products and Innovations
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 22: Product Portfolio
Product Portfolio Market Segments Glass Composition Addition of Value Borosil Solar Glass with low added products High Performance Solar Glass for Antimony content Utility scale ground solar PV Shakti : High Efficiency Matt – No Era: Borosil Solar Glass High Performance Green House – wit
Slide 23: USPs of Borosil Solar Glass and Superior Performance
USPs of Borosil 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 BOROSIL’S FULLY TEM
Slide 24: Innovation by Borosil in Solar Glass (1/3)
Innovation by Borosil in Solar Glass (1/3) Fully tempered 2 mm Solar Glass Shakti World’s 1st fully tempered thinnest Solar Glass for versatility and longevity Matt-Matt finish Glass Selene Reduces the overall weight of the Higher module output of up to 0.5 % Anti-glare Solar glass for solar PV,
Slide 25: Innovation by Borosil in Solar Glass (2/3)
Innovation by Borosil in Solar Glass (2/3) Antimony-free Solar Glass No Era: World’s only manufacturer of Antimony Free Solar Glass for safer, sustainable and truly environment friendly applications The performance of No Era was compared with that of a leading European solar glass supplier at Boro
Slide 26: Innovation by Borosil in Solar Glass (3/3)
Innovation by Borosil in Solar Glass (3/3) Fully Tempered Thinner Solar Glass 2/2.5/2.8 mm Growth of Glass-Glass modules Thickness of front glass in future Solar PV market is moving towards • Bifacial modules • Glass to glass modules • Frameless modules In order to achieve the optimum module weight,
Slide 27: Innovations in Manufacturing Process and supply chain
Innovations in Manufacturing Process and supply chain Cost Deploys process using a Raw material mix to produce high grade low iron solar glass at lower cost and be competitive. Reduction Low Fuel With advanced technology - able to deliver better yield of the product with low energy consumption w
Slide 28: Domestic and International Customer base
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 29: 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 30: Sustainability and Social Responsibility
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 31: Societal Responsibility and CSR activities
Societal Responsibility and CSR activities On the CSR front, BRL through Borosil foundation continues to play an active role in helping farmers in water deficient Parli district of Maharashtra improve their annual incomes. Initiatives during Covid-19: Donation of PPE kits to Covid-19 Warriors –
Slide 32: Awards and Recognition
Awards and Recognition GBL has been awarded as GBL honored with CAPEXIL 15th FGI AWARDS for “Leading RE Manufacturer - Leading Renewable Energy Award for Excellence in EXCELLENCE in the category Component Manufacturers” in Manufacturer in the category of Exports for the years 2015-16 of “Outstanding
Slide 33: Recognition received for 2 mm fully tempered solar glass
Recognition received for 2 mm fully tempered solar glass Honourable Prime Minister of India Mr. Narendra Modi Message from Hon. Prime Minister on the occasion of inauguration of 2 mm Fully Tempered solar glass facility 32
Slide 34: Corporate Governance, Board of Directors and KMPs
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: Corporate Governance: A professionally managed business backed up by family
Corporate Governance: A professionally managed business backed up by family Board of Directors 39 years of experience in He is an I.A.S. (Retd.) and has a various industries in career spanning 38 years in the Industrialist having Rich techincal, production, Indian Administrative Service experience i
Slide 36: 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 based Mr. S
Slide 37: Stock information and Contact Details
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 38: Stock Information - As on 31st December 2020
Stock Information- As on 31st December 2020 SHAREHOLDING PATTERN Non- Institutional Investors & SHARES ISSUED others 26.91% 12,99,26,299 Domestic Promoters and Institutional Promoter Group Investors 61.89% 2.41% Foreign Portfolio CODE: BORORENEW CODE: 502219 Investors 8.79% As on 31st December 2020
Slide 39: 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 40: Thank You
Thank You 39 A view of Borosil Renewable Ltd.’s Solar Glass Factory at Bharuch