Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q3 FY22 Earnings Presentation
47 slides from Borosil Renewables's earnings presentation, Feb 8, 2022
Slide 1: Cover letter to stock exchanges
February 08, 2022 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 Dear Sir/ Madam, Subject: Investor Presentation Scrip Code: 502219 Symbol: BORORENEW Serie
Slide 2: Investor Presentation: Financial Performance for Quarter and Nine Months Ended 31 December 2021
BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter and nine months ended on 31% December 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: Tribute to Bajrang Lal Kheruka, Chairman Emeritus
Mr. Bajrang Lal Kheruka, Chairman Emeritus, Borosil Renewables Ltd. embarked peacefully on his final journey on 12th December 2021. As a mentor, he installed compassion in thought and discipline in performance. The Borosil group has come a long way in his leadership and guidance. He will always be r
Slide 7: Contents
CONTENTS 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and
Slide 8: Performance Highlights and recent industry updates
1 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 9: Performance Highlights: Q3 FY22
Performance Highlights: Q3 FY22 Q3 FY22 Vs. Q2 FY22 5% 28% 34% 34% (Q-o-Q) Revenue EBITDA PBT PAT ₹ 168.5 Crore ₹ 75.5 Crore ₹ 64.5 Crore ₹ 45.7 Crore Q3 FY22 Vs Q3 FY21 20% 41% 56% 57%* (Y-o-Y) 8 *Considering PAT for Q3 FY21 before one-time provision of Rs. 18.60 Cr. for earlier years
Slide 10: Performance Highlights: 9M FY22
Performance Highlights: 9M FY22 51% 111% 187% 189%* 9M FY22 Vs 9M FY21 Revenue EBITDA PBT PAT (Y-o-Y) ₹ 465.2 Crore ₹ 202.6 Crore ₹ 168.5 Crore ₹ 119.5 Crore 9 *Considering PAT for 9M FY21 before one-time provision of Rs. 18.60 Cr. for earlier years
Slide 11: Recent Industry Updates
Recent Industry Updates Imposition of The customs notification has been issued on 1st February 2022 making the imposition of Basic Basic Customs Customs Duty (BCD) on solar cells (25%) and modules (40%) effective from April 1, 2022 following Duty (BCD) the announcement from the Ministry of New and R
Slide 12: Indian Solar Industry Overview
2 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 13: 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 393 GW as of Dec’21 in 393 GW as of Dec'21 (in GW) India, renewables form around 27% of the same (105 GW) of which solar (49 GW) is about 47% of the
Slide 14: 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 15: 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 GW of solar module manufacturing capacity as of Dec’21 ➢ Due to stiff competition from low-priced imports and low installations, the actual Domestic Manufacturing is about 5-6 GW annually (about a
Slide 16: Introduction to Borosil Group and Growth Story
3 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 17: 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 18: 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%), PLI scheme and ALMM Anti dumping Dut
Slide 19: 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 GW) Rebuilt 1st Proposed Proposed addition 550 furnace with addition of a 3rd of a 4th and
Slide 20: 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 over n
Slide 21: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 20
Slide 22: Financials
4 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 23: Financial Performance for Quarter and Nine Months (1/3)
Financial Performance for the quarter and nine months ending 31.12.2021 (1/3) Key Parameters Q3 FY22 Q2 FY22 Q3 FY21 Growth % Growth % 9M FY22 9M FY21 Growth % Q3 FY22 over Q3 FY22 over 9M FY22 over Q3 FY 21 Q2 FY 22 9M FY 21 Revenue 168.51 160.52 140.13 20% 5% 465.17 308.29 51% EBITDA 75.49 58.91 5
Slide 24: Financial Performance for Quarter and Nine Months (2/3)
Financial Performance for the quarter and nine months ending 31.12.2021 (2/3) ➢ During the quarter, the Company recorded Net Sales of INR 168.5 Cr., an increase of 20% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the quarter were a
Slide 25: Financial Performance for Quarter and Nine Months (3/3)
Financial Performance for the quarter and nine months ending 31.12.2021 (3/3) ➢ During the nine months, the company recorded Net Sales of INR 465.2 Cr., an increase of 51% over the corresponding period of the previous year. The average ex-factory prices of tempered solar glass during the nine months
Slide 26: Borosil Renewables Limited
5 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 27: 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 28: 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 29: 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 30: 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 31: 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 32: 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 33: Domestic and International Customer Base
6 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 34: 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 35: Sustainability and Social Responsibility
7 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
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. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 39: Recognition for World's First 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 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 41: Corporate Governance, Board of Directors and KMPs
9 1. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a grow
Slide 42: Corporate Governance: A Professionally Managed Business Backed 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. Performance Highlights and 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 surge in manufacturing 3. Introduction to Borosil Group and a gro
Slide 45: Stock Information as on 31 December 2021
Stock Information- As on 31st December 2021 SHAREHOLDING PATTERN Non-Institutional Investors SHARES ISSUED & others 33% 13,02,60,279 Promoters and Promoter Group 62% Domestic Institutional Investors 0.06% Foreign Portfolio Investors CODE: BORORENEW CODE: 502219 5% 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