Borosil Renewables Limited · NSE:BORORENEW
Borosil Renewables — Q3 FY25 Earnings Presentation
32 slides from Borosil Renewables's earnings presentation, Feb 16, 2025
Slide 1: Cover letter to stock exchanges
February 16, 2025 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
Slide 2: Investor Presentation Q3FY25
INVESTOR PRESENTATION Q3FY25 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. Industry updates 4. Increasing Share of Solar in Rising Renewables 5. Our Worldwide Presence 6. Our Capacity & Growth 7. Our USP, Innovations & Constant Evolution 8. Growth Drivers & Indian Solar Module Manufacturing Industry 9. Product Por
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 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 combined capacity glassware and Ki
Slide 7: Standalone Q3/9M FY25 P&L
Standalone Q3/9M FY25 P&L Standalone Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q3FY25 Q2FY25 Q3FY24 Change% Change% 9MFY25 9MFY24 FY24 Revenue 275.28 265.61 241.02 14.2% 3.6% 782.71 762.95 990.28 EBITDA 20.89 52.88 22.69 -7.9% -60.5% 103.48 105.81 118.93 EBITDA % 7.6% 19.9% 9.4% -19.4% -61.
Slide 8: Key highlights of Standalone Quarterly Results
Standalone Q3/9M FY25 Key highlights of Standalone Quarterly Results ❖ The Total sales during Q3FY25 grew by about 3.6% to INR 275.28 Cr from INR 265.61 Cr in the preceding quarter. This was achieved despite a steep decline in average ex- factory prices to about Rs. 105/mm per sq. meter, down from t
Slide 9: Consolidated Q3/9MFY25 P&L
Consolidated Q3/9MFY25 P&L Consolidated Profit & Loss Snapshot YoY QoQ Particulars (₹ Crs) Q3FY25 Q2FY25 Q3FY24 Change% Change% 9MFY25 9MFY24 FY24 Revenue 361.49 373.09 330.38 9.4% -3.1% 1,105.79 1,090.48 1,369.28 EBITDA 5.00 34.57 24.08 -79.2% -85.5% 65.48 95.66 74.85 EBITDA % 1.4% 9.3% 7.3% -81.0%
Slide 10: Fund Raise
Fund Raise Transition from Rights Issue to Preferential Issue • Original Plan: Raising ₹450 crore through a Rights Issue as per earlier approvals. • Revised Plan: Withdrawal of Rights Issue plans to better align with the funding requirements for expansion in view of imposition of Anti dumping duty o
Slide 11: Cool down of Furnace
GMB Temporary Cool down of Furnace ❖ We are operating a 350 TPD furnace in Tschernitz, Germany with 2 production lines. ❖ During the six month period ended September 30, 2024, GMB has incurred loss. This was primarily on account of low demand in Europe, lower selling prices and lower production in G
Slide 12: Expansion plan
Expansion plan Particulars Setting up of additional production capacity The Board had earlier approval a proposal for setting up SG-4 furnace with a Original Plan of Capex capacity of 1100 Tonnes Per Day (TPD). 500 TPD by way of setting up of two furnaces of 250 TPD (SG-4 & SG-5) each Proposed capac
Slide 13: Industry Updates
INDUSTRY UPDATES UPDATES ON REGULATORY AND POLICY FRONT AND OTHER ANALYSIS • The Ministry of Finance had on 4th Dec 2024 imposed provisional anti-dumping duties on imports of "Textured Tempered Coated and Uncoated Glass" from China and Vietnam based on recommendation of Commerce Ministry. The Commer
Slide 14: Increasing Share of Solar in Rising Renewables
Increasing Share of Solar in Rising Renewables ➢ Out of total installed power generation capacity of ~462 GW as of Q3 FY25 in India, the share of renewables has reached 35% (~162 GW). The share of solar (98 GW) has further increased to Total Installed Power Generation Capacity about 60% of the renew
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. Need in two tranches is about Rs. 18,500 Cr. This to promote
Slide 16: Indian Solar PV Manufacturing
Indian Solar PV Manufacturing • India has a solar module manufacturing capacity of around ~78 GW currently and projected to reach 150 GW in the next 2 years as new capacities are expected to be added by various existing and new players . • In 9MFY25, the solar installations were higher at about 16 G
Slide 17: Our Capacity (TPD)
Our Capacity (TPD) India Furnace 1 India Furnace 2 7.5x Over 6 Years 1350 550 Germany Furnace 1 India Furnace 3 750 300 350 450 450 450 240 240 240 240 240 180 180 210 210 210 210 210 CY18 CY19 CY20 CY21 CY22 As on date Tonnes per day (TPD) 16
Slide 18: Capacity Planning
Capacity Planning Combined Installed Capacity (TPD)-Projected CY18 CY 20 CY 22 CY 23 & 24 Est CY 26 180 TPD 450 TPD 750 TPD 1350 TPD 1850 TPD Combined Solar Glass Rebuilt 1st Acquired Addition of 3rd Expansion of Capacity Planned 1850 TPD furnace with Interfloat Group furnace with a production enhan
Slide 19: Our Growth
Our Growth BRL’s journey has been marked with innovation and firsts in the industry… 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 18
Slide 20: Our Worldwide Presence
Our Worldwide Presence • 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 • Italy • Croatia lower lead times and fl
Slide 21: Our USP
OUR USP HIGHER TRANSMISSION ENGINEERED FOR LONG TERM DURABILITY • • • ENHANCED MECHANICAL STRENGTH • • • TEMPERED GLASS IS SAFER AND STRONGER • • Wavelength range (nm) Supplier 380-780 380-1100 380-2500 BOROSIL 91.76% 91.68% 91.31% Company X 91.73% 91.51% 91.00% Company H 91.74% 91.58% 91.08% Normal
Slide 22: Our Innovations
OUR INNOVATIONS INNOVATIONS: NEW PRODUCTS UPGRADING EXISTING PRODUCT LINES • • • • • • • • • • • 21
Slide 23: 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 24: Product Portfolio
Product Portfolio MARKET SEGMENTS ADDITION OF VALUE ADDED PRODUCTS • High-Performance Solar Glass for • Utility-scale ground solar PV • Shakti / Clear : High Efficiency Matt – • High-Performance Green House Matt Finish • Solar Rooftop • Selene / Deflect : Anti-Glare Solar • Bifacial, Glass-glass, BI
Slide 25: 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 26: 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 27: ESG Journey
ESG Journey Our strategic ESG priorities Our Actions • ESG target disclosures and dedicated dashboard • Aim to achieve Carbon neutral operations to track emissions. • Explore waste management Greener planet • Increase the ratio of sales in reusable packaging opportunities material and explore furthe
Slide 28: Awards & Accolades
Awards & Accolades 2025 2024 2023 2023 Great Place to Work Certified National Award for Best Industrial Mr. P. K. Kheruka received Great Place to Work from the Relations in the Medium prestigious EY entrepreneur of the Mar 22 to Mar-23 Great Place to Work Trust Index Enterprise category from the yea
Slide 29: Shareholding Pattern
Shareholding Pattern Borosil Renewables Limited Stock Price NSE (₹) Public & 650 Others, 600 32.04% 550 500 450 400 Promoter & Promoter Group, DII, 1.02% 61.59% ₹6493 Market Cap cr FII, 5.35% NSE: as on 14th Feb 2025 As on 31st Dec 2024 28
Slide 30: 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 Borosil Limited with more experience in the Glass Industry Mangaldas & Co. and heads the than 17 years
Slide 31: 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 32: Thank You
Thank You Balesh Talapady Vice President – Investor Relations Balesh.talapady@borosil.com Registered/Corporate Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 31