Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q4 FY2023 Earnings Presentation
48 slides from Borosil Renewables's earnings presentation, May 25, 2023
Slide 1: Exchange intimation letter for investor presentation
May 25, 2023 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 Sir/ Madam, Subject: Investor Presentation Please fin
Slide 2: Investor Presentation: Financial Performance for Q4 and FY ended 31 March 2023
F BOROSIL INVESTOR PRESENTATION Financial Performance for the quarter and the financial year ended on 315t March 2023
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 Purpose and Vision
OUR PURPOSE Pioneering a Sustainable Future with Reliability and Quality OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY 4
Slide 6: Contents
CONTENTS 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosi
Slide 7: Contents: Recent industry updates
1 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 8: Recent Industry Updates
Recent Industry Updates • The Solar Energy Corporation of India (SECI) declared the winners who would be eligible to receive a total of Rs. 13,940 Cr. under Tranche II of the performance-linked incentive (PLI) scheme to manufacture 39.6 GW of solar modules Results of PLI Tranche-II • The eligible co
Slide 9: Contents: Indian solar industry overview
2 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 10: Increasing Share of Solar in Rising Renewables
Increasing share of Solar in Rising Renewables Ø Out of total installed power generation capacity of 417 GW as of Apr’23 in India, the share of Total Installed Power Generation Capacity in India renewables has reached around 30% (126 GW). The share of solar (67.1 GW) has further 417 GW as of Apr'23
Slide 11: Indian Solar Industry: Growth Drivers and Enablers
Indian solar Industry: Growth Drivers and enablers National Solar Mission Targets of 280 GW installed solar capacity to be achieved by 2030. Need annual solar installations of 30 GW to achieve the target SECI Tenders Tenders by SECI for large ISTS connected projects assuring offtake and payment secu
Slide 12: Indian Solar Module Manufacturing Industry: On the Cusp of Surge
Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing Ø India has an ALMM-approved solar module manufacturers facilities having a combined capacity of around 35 GW as of Mar’23. Ø In FY23 the output of domestic solar PV module manufacturing Industry has increased to 10 GW
Slide 13: Contents: Introduction to Borosil Group
3 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 14: 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) 234 196 149 109 94 111 120 85 36 67
Slide 15: BRL's Journey: A Growth Story
Borosil Renewables Ltd (BRL): A Growth Story BRL’s journey has been marked with innovation and firsts in the industry… 3rd furnace with 550 TPD capacity: commissioned in Q4 FY23 Acquisition of 86% stake in Interfloat group, Europe’s largest solar glass manufacturer BRL sets up India's first and only
Slide 16: Commercial Production from New Furnace SG-3
Updates on production from 3rd Furnace of 550 TPD from Borosil Renewables Ltd. Commercial production from new furnace SG-3 commenced from 23rd February 2023 15
Slide 17: Updates on Operations of GMB Factory in Germany
Updates on operations of GMB factory in Germany • The Company has undertaken a cold repair of the furnace at GMB from 13th March to 5th May and resumed glass production from 8th May with a higher capacity by 15%. • This repair will not only help in increasing the life of the furnace, but will also h
Slide 18: Capacity Expansion to Keep Pace with Market Growth
Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth Combined Installed Capacity (TPD)-Projected CY18 CY 20 CY 22 CY 23 Est CY 24 Combined Solar Glass Capacity Planned 2450 TPD 180 TPD 450 TPD 750 TPD 1350 TPD 2450 TPD (〜16 GW) Rebuilt 1st Acquired Addition of 3rd The proposed
Slide 19: Drivers of Growth of Solar Glass Manufacturing in India
Drivers of growth of Solar glass manufacturing in India Production Linked Incentive Imposition of Basic Customs (PLI) scheme with a total Duty (BCD) from 1st April 2022 grant of Rs. 19,400 Cr. for on imports of Solar Modules Integrated solar manufacturing (40%) and Solar Cells (25%) in India Recent
Slide 20: BRL's Factory at Bharuch, Gujarat
BRL’s Factory at Bharuch, Gujarat 19
Slide 21: Contents: Financials
4 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 22: Financial Performance for Quarter and Year Ended 31.03.2023 (1/3)
Financial Performance for the quarter and year ended 31.03.2023 (1/3) Rs. in crores Standalone Consolidated Key Parameters Q4 FY23 Q3 FY23 Q4 FY22 Inc./(Dec). % Inc./(Dec). % FY23 FY22 Growth % Q4 FY23 FY23 Q4 FY23 over Q4 FY23 over Q4 FY 22 Q3 FY 23 FY-23 over FY 22 Revenue 187.54 161.39 179.05 5%
Slide 23: Financial Performance for the Quarter (2/3)
Financial Performance for the quarter compared with corresponding quarter of previous year (2/3) ü During Q4FY23, the company recorded Net Revenue from Operations of INR 187.5 Cr, an increase of 5% over Q4FY22. ü Sales volumes of Q4FY23 were higher than Q4FY22 by 8% (basis IND AS). Overall domestic
Slide 24: Financial Performance for the Year (3/3)
Financial Performance for the year compared with previous year(3/3) ü During FY23, the company recorded Net Revenue from Operations of INR 688.17 Cr, an increase of 7% over FY22. ü Sales volume of FY23 was higher than FY22 by 4% (basis IND AS). Overall domestic demand for solar glass has remained st
Slide 25: Contents: Borosil Renewables Limited
5 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 26: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE • High-Performance Solar Glass for ADDED PRODUCTS • Utility-scale ground solar PV • High-Performance Green House • Shakti / Clear : High Efficiency • Solar Rooftop Matt – Matt Finish • Bifacial, Glass-glass, BIPV • Selene / Deflect : Anti-Glare Sol
Slide 27: 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 28: Products to Meet the Evolving Requirements
Products to meet the evolving requirements 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 Growth of bifacial modules Growth of Glass-Glass modules Growth of thinner glass 100% 100% 100%
Slide 29: Product Innovations by Borosil in Solar Glass
Product Innovations by Borosil in Solar Glass • First solar glass manufacturer to have • Flagship product with low PID, high successfully removed Antimony (a harmful mechanical strength, and chemical chemical) from its glass durability • Technology has been patented • Lowest iron content solar glass
Slide 30: Manufacturing Process Innovations with a View to Care for Environment
Manufacturing Processes Innovations 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 far
Slide 31: Contents: Domestic and International Customer Base
6 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 32: 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 25% of revenue coming from exports • Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantiti
Slide 33: Contents: Sustainability and ESG
7 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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, Priorities and Actions
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 FY23 • Aim to achieve Carbon neutral operations • Create a positive water balance Greener planet • Plans t
Slide 36: Societal Responsibility and CSR at Borosil Renewables
Ongoing Initiatives at Borosil Renewables Ltd.: Societal Responsibility and CSR • The company helps running a CBSE school (CKG High school) in Govali village • Sewa Yagna Samiti. Bharuch. • Contribution to Gram Vikas Trust for • Borosil supports the Civil Hospital with their Vidyasaathi Project Nutr
Slide 37: Societal Responsibility and CSR at Group Level
Ongoing Initiatives at Borosil group level.: Societal Responsibility and CSR On the CSR front, BRL continues to play an active Providing education, shelter, role in helping farmers in imparting vocational training water deficient Parli district etc. to underprivileged of Maharashtra improve children
Slide 38: Contents: Awards and Recognition
8 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 39: Recognition 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: Pradeep Kumar Kheruka wins EY Entrepreneur of the Year 2022
Mr. Pradeep Kumar Kheruka wins E&Y’s prestigious “Entrepreneur of the year 2022” award • Mr. Pradeep Kumar Kheruka, Executive Chairman of Borosil Renewables Ltd., won the prestigious EY Entrepreneur of the Year 2022 in the manufacturing category • The 7-member jury led by K V Kamath, Former Chairman
Slide 41: Other Industry Awards and Recognition
Other Industry awards and recognition National Award 2021 By Dept. of Science and Prestigious Gold Medal at India 17th FGI AWARDS for Green Manufacturing Challenge EXCELLENCE in the category of Technology, Govt. of India 2020-21 “Outstanding Entrepreneur” in 2022 AIGMFs Mr. P. K. Kheruka nominated f
Slide 42: Contents: Corporate Governance
9 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø 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 43: Corporate Governance: A Professionally Managed Business
Corporate Governance: A professionally managed business backed up by family 41 years of experience in He is an I.A.S. (Retd.) and has a various industries in techincal, career spanning 40 years in the Industrialist having Rich production, projects and Indian Administrative Service experience in the
Slide 44: Corporate Governance: Senior Management
Corporate Governance: Senior Management Name Designation Key Responsibility Ø Provide leadership and direction to the Board and assume Mr. Pradeep Kumar Kheruka Executive Chairman responsibility for the strategic initiatives. Ø Provide direction to the organization and establish a policy Mr. Shreeva
Slide 45: Contents: Stock Information and Contact Details
10 1. Recent industry updates 2. Indian solar Industry Overview Ø Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Ø Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Rene
Slide 46: Shareholding Pattern
Stock Information- As of 31th March 2023 SHAREHOLDING PATTERN Non-Institutional SHARES ISSUED Investors & others 32.10% 13,04,98,179 Promoters and Promoter Group 61.62% Domestic Institutional Investors 0.11% Foreign Portfolio Investors CODE: BORORENEW CODE: 502219 6.18% 45
Slide 47: 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 (India) Works (Germany) Borosil Re
Slide 48: Thank You
THANK YOU AN INVESTMENT ISN’T AN INVESTMENT IF IT HURTS THE PLANET… 47