Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q1 FY2023 Earnings Presentation
47 slides from Borosil Renewables's earnings presentation, Aug 10, 2022
Slide 1: Cover letter to stock exchanges
BOROSIL BOROSIL RENEWABLES LIMITED CIN : 1_26100MH1962PLC012538 Regd. Office: 1101. Crescenzo, G-Block. Opp. MCA Club. Bandra Kuria Complex renewables Bandra (Q. Mumbai - 400 051, India. T : +9122 6740 6300 F +9122 6740 6514 W v.ww.borosilrenewables.corn Email : brl@borosil.conn August 10, 2022 BSE
Slide 2: Investor Presentation: Financial Performance for quarter ended 30 June 2022
BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter year ended on 30* June 2022
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
OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY 4
Slide 6: Contents
CONTENTS 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a g
Slide 7: Recent industry updates and updates from BRL
1 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 8: Recent Industry Updates
Recent Industry Updates • The Directorate General of Trade Remedies (DGTR), has recommended for continuation of anti-dumping duty on Chinese Extension of Anti- solar glass for two years from its expiry on 17th August 2022. dumping duty on imports of Chinese • DGTR has recommended higher duties in th
Slide 9: Updates from Borosil Renewables Ltd. (1/2)
Updates from Borosil Renewables Ltd. (1/2) BRL announces solar glass manufacturing capacity expansion with the fourth furnace (SG#4) with a capacity of 1,100 TPD • BRL had originally obtained approval to add the 4th and 5th furnaces with a manufacturing capacity of 500 TPD each • Considering the mar
Slide 10: Updates from Borosil Renewables Ltd. (2/2)
Updates from Borosil Renewables Ltd. (2/2) Update of Acquisition of Interfloat group • BRL (the Company) had executed a binding agreement with HSTG and Blue Minds IF Beteilingungs GmbH ("Blue Minds") (collectively, "Sellers") on 25th April 2022 for the acquisition of a 100% stake of GMB Glasmanufakt
Slide 11: Indian Solar Industry Overview
2 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 12: Increasing share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables Total Installed Power Generation Capacity in India ➢ Out of total installed power generation capacity of 404 GW as of Jun’22 in India, 404 GW as of Jun’22 (in GW) renewables form around 28% of the same (114 GW) of which solar (58 GW) is about 51% of the
Slide 13: 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 14: 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 15 GW of solar module manufacturing capacity as of Mar’22 ➢ Due to stiff competition from low-priced imports and low installations, the actual utilization of Domestic Manufacturing was about 6 GW ann
Slide 15: Introduction to Borosil Group and BRL growth story
3 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 16: 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) 196 149 85 111 120 94 67 87 32 36 1
Slide 17: Borosil Renewables Ltd (BRL): A Growth Story
Borosil Renewables Ltd (BRL): A Growth Story • Imposition of DGTR recommends the Countervailing Duty on solar glass imports continuation of Anti-dumping India imposes CPSU/KUSUM “Aatmanirbhar from Malaysia duty on the import of solar Anti-Dumping schemes, Bharat”. Focus • Basic Customs Duty glass fr
Slide 18: Borosil Renewables Ltd: 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)-Projected 180 TPD 450 TPD 1000 TPD 2100 TPD Roadmap towards 2100 TPD (~12.5 GW) Rebuilt 1st Proposed Proposed addition furnace with addition of a 3rd of a 4th furn
Slide 19: 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 37 GW of module Antidumping Duty (ADD) on solar tempered glass imports manufacturing capacity taking the same to about 50 GW from China since August 2017 and re
Slide 20: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 19
Slide 21: Financials
4 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 22: Financial Performance for the quarter ending 30.06.2022 (1/2)
Financial Performance for the quarter ending 30.06.2022 (1/2) Key Parameters Q1 FY23 Q4 FY22 Q1 FY22 Growth/ Growth/ FY22 (Decline) % (Decline) % Q1 FY23 over Q1 FY23 over Q1 FY 22 Q4 FY 22 Revenue 169.98 179.05 136.13 25% -5% 644.22 EBITDA 51.31 62.43 68.19 -25% -18% 265.01 EBITDA % 30.2% 34.9% 50.
Slide 23: Financial Performance for the quarter ending 30.06.2022 (2/2)
Financial Performance for the quarter ending 30.06.2022 (2/2) ➢ During the quarter, the Company achieved Net Sales of INR 170 Cr., an increase of 25% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the quarter were slightly lower as c
Slide 24: Borosil Renewables Limited
5 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 25: 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 26: 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 27: 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 • Leading to a Higher light transmission • Transmission value reaching higher than 94% with use of an appropriate AR Coating • No
Slide 28: 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 29: 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 30: 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 31: Domestic and International Customer base
6 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 32: Borosil Renewables Ltd.: 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 over 20% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantiti
Slide 33: Sustainability, social responsibility, and ESG journey
7 1. Recent industry updates 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renew
Slide 34: Borosil Renewables: An ESG Journey
Borosil Renewables: An 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 •
Slide 35: Borosil Renewables: An ESG Journey
Borosil Renewables: An ESG Journey Borosil Renewables Limited has embarked on a transformational journey where ESG is the core of how we do business. Our strategic ESG priorities Our actions in FY22 • Aim to achieve Carbon neutral operations Greener planet • Plans to undertake GHG monitoring and inv
Slide 36: Ongoing Initiatives: Societal Responsibility and CSR
Ongoing Initiatives at Borosil Renewables Ltd.: 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 Nutri
Slide 37: Societal Responsibility and CSR activities across the Borosil Group
Societal Responsibility and CSR activities across the Borosil Group 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 far
Slide 38: Awards and Recognition
8 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 39: 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 38
Slide 40: Other Industry awards and recognition
Other Industry awards and recognition National Award 2021 AIGMFs Prestigious Gold Medal at India 17th FGI AWARDS for By Dept. of Science and Balkrishna Gupta Award Green Manufacturing Challenge EXCELLENCE in the category of Technology, Govt. of India for Exports for FY21 2020-21 “Outstanding Entrepr
Slide 41: Corporate Governance, Board of Directors and KMPs
9 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth s
Slide 42: 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 43: 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 44: Stock information and Contact Details
10 1. Recent industry updates and updates from BRL 2. 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 a surge in manufacturing 3. Introduction to Borosil Group and a growth
Slide 45: Stock Information - As of 30th June 2022
Stock Information- As of 30th June 2022 SHAREHOLDING PATTERN Non-Institutional SHARES ISSUED Investors & others 32% 12,80,84,771 Promoters and Promoter Group 63% Domestic Institutional Investors 0.18% Foreign Portfolio Investors 5% CODE: BORORENEW CODE: 502219 44
Slide 46: 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 47: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 46