Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q4 FY26 Earnings Presentation
31 slides from Borosil Renewables's earnings presentation, May 12, 2026
Slide 1: Stock exchange filing cover letter
May 12, 2026 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: Turning Sunlight into progress - Investor Presentation Q4 FY26
Turning Sunlight into progress INVESTOR PRESENTATION Q4 FY26 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. Company & Industry updates 4. Increasing Share of Solar in Rising Renewables 5. Growth Drivers 6. Indian Solar PV-Surge in Manufacturing 7. Our Capacity & Growth 8. Our Worldwide Presence 9. Our USP, Innovations, Constant Evolution and Prod
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 More than 60 Years of Excellence 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 c
Slide 7: Strong Performance-standalone Highest ever
Strong Performance-standalone FY26 Highlights Highest ever Revenue from Operational EBITDA PBT before exceptional Operations item ₹ 1535 Crores ₹ 492 Crores (32%) ₹ 391 Crores (25.5%) +38% YoY +172% YoY +734% YoY Q4FY26 Highlights Revenue from Operational EBITDA PBT before exceptional Operations ite
Slide 8: Standalone Financials-Highest ever Revenue and EBITDA
Standalone Financials-Highest ever Revenue and EBITDA Revenue from Operation and Growth % (INR Crores) EBITDA (₹ Crores and %) 1,800 38% 600 1,600 32% 500 1,400 12% 1,200 43% 400 1,000 7% 300 41% 800 28% 1,535 40% 492 85% 26% 16% 600 1,110 200 990 12% 400 265 647 692 100 15% 203 504 177 181 200 119
Slide 9: Standalone Q4 and Full year FY26 P&L
Standalone Q4 and Full year FY26 P&L Standalone Profit & Loss Snapshot YoY QoQ YoY Particulars (₹ Crs) Q4FY26 Q3FY26 Q4FY25 FY26 FY25 Change% Change% Change% Revenue 437.62 386.50 327.23 33.7% 13.2% 1,534.83 1,109.94 38.3% EBITDA 144.61 129.04 77.03 87.7% 12.1% 491.68 180.51 172.4% EBITDA % 33.0% 33
Slide 10: Standalone Q4 and Full year FY26 P&L - Key highlights
Standalone Q4 and Full year FY26 P&L Key highlights of Standalone Quarterly/Yearly Results FY26 ❖ The average Ex- factory selling prices realized during the year increased to INR 146.7/mm as compared to INR 113.4 /mm in the last year, which contributed significantly to this dramatic turnaround in th
Slide 11: Consolidated Q4 and Full year FY26 P&L
Consolidated Q4 and Full year FY26 P&L Consolidated Profit & Loss Snapshot YoY QoQ YoY Particulars (₹ Crs) Q4FY26 Q3FY26 Q4FY25 FY26 FY25 Change% Change% Change% Revenue 439.92 390.46 373.54 17.8% 12.7% 1,555.84 1,479.33 5.2% EBITDA 145.32 130.94 27.36 431.1% 11.0% 465.96 92.84 401.9% EBITDA % 33.0%
Slide 12: Update on Expansion plan
Update on Expansion plan ❖ Board approved setup of two new furnaces (SG-4 & SG-5), each of 300 TPD, totaling 600 TPD ❖ Estimated Investment: ₹950 crore ❖ Commissioning Target: Dec 2026. Work as per schedule. : Civil work in progress : Order placement of key items done ❖ Mode of financing : a mix of
Slide 13: Fresh infusion of Rs. 889.15 cr to strengthen the Capital Structure for Growth
Fresh infusion of Rs. 889.15 cr to strengthen the Capital Structure for Growth 1. Preferential Issue - Feb-25 2. Preferential Issue (equity) -Oct-25 Promoters (equity) : Rs. 100.00 Cr. Non-Promoters (warrants) : Rs. 417.66 Cr Total : Rs. 517.66 Cr. Received : Rs. 371.49 Promoters: : Rs. 100.00 Cr Cr
Slide 14: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of ~533 GW as of Mar 2026 in India, the share of renewables has reached 42% (~223 GW). The share of solar (150 GW) has further increased to Total Installed Power Generation Capacity about 67% of the ren
Slide 15: 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. Now in two tranches is about Rs. 18,500 Cr. This to promote c
Slide 16: Indian Solar PV Surge in Manufacturing
Indian Solar PV Surge in Manufacturing ❑ Manufacturing capacity for solar modules reached 193 GW on 1st May 2026 and is expected to reach 250 GW. However, as per industry sources around 30 GW of this is likely to become non operational due to technological changes leaving 200-220 GW operational. ❑ I
Slide 17: Our Capacity Planning
Our Capacity Planning Combined Installed Capacity CY18 CY 20 CY 22 CY 23 & 24 CY 25 Est CY 26 (TPD)-Projected 180 TPD 450 TPD 750 TPD 1350 TPD -350 TPD 1600TPD Combined Solar Glass Rebuilt 1st Acquired Addition of 3rd GMB Board approved Capacity Planned 1600 TPD furnace with Interfloat Group furnace
Slide 18: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… Introduced Produced the National award world's first 2021 3rd furnace anti-reflective with 550 TPD coating for fully tempered for successful textured solar commercializatio capacity: solar glass, a commissioned firs
Slide 19: Our Worldwide Presence
Our Worldwide Presence Europe • A global presence with products matching international • Netherlands • Bulgaria • Germany • Turkey standards and quality requirements. • France • Jordan • Portugal • Greece • The largest manufacturer of solar glass in India, offering N.America • Italy • Croatia Asia l
Slide 20: Our USP
Our USP Higher Transmission ENGINEERED FOR LONG TERM DURABILITY • Low sodium. Low PID (Potential Induced Degradation) • High chemical durability: superior glass performance • Very High hydrolytic resistance ENHANCED MECHANICAL STRENGTH • Withstood > 180 Mpa, (Standard 90 Mpa as per EN 12150-1) • 2 x
Slide 21: Our Innovations
Our Innovations INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • First solar glass manufacturer to • Flagship product with low PID, high have successfully produced mechanical strength, and chemical without using Antimony (a harmful durability chemical) in its textured solar glass • Have
Slide 22: 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 23: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE ADDED PRODUCTS • High-Performance Solar Glass for • Utility-scale ground solar PV • Grid Printed Back Glass for Bifacial • High-Performance Green House Modules • Solar Rooftop • Shakti / Clear : High Efficiency Matt – • Bifacial, Glass-glass, BIPV
Slide 24: 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 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 • Aim to achieve Carbon neutral operations • ESG target disclosures and dedicated dashboard to track emissions. • Explore waste management Greener planet • Increase the ratio of sales in reusable packaging opportunities material and explore furthe
Slide 27: Awards & Accolades
Awards & Accolades 2025 2024 2024 2023 Great Place to Work Certified DET HURUN Award National Award for Best Industrial Mr. P. K. Kheruka received from the Outstanding Relations in the Medium prestigious EY entrepreneur of the Great Place to Work Trust Index Contribution to Enterprise category from
Slide 28: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price NSE (₹) 750.00 Public & 700.00 Others, 650.00 600.00 34.63 550.00 500.00 450.00 400.00 350.00 05-Apr-25 05-Aug-25 05-Apr-26 05-Feb-25 05-May-25 05-Sep-25 05-Feb-26 05-May-26 05-Dec-24 05-Dec-25 05-Oct-25 05-Jun-25 05-Jan-25 05-Jan-26 05-Jul
Slide 29: Board Of Directors
Board Of Directors A seasoned legal professional Also the Managing with over 3 decades of Director and CEO of experience.. He is the Managing Industrialist having Rich Partner of Shardul Amarchand experience in the Glass Industry Borosil Limited with more than 17 years Corporate Mangaldas & Co. and
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 Dhaval Patel Head – Investor Relations Dhaval.patel@borosil.com Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 30