Borosil Renewables Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2020 • Flat Glass: 100.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Latest quarter profit grew 132.2% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 18.66x)
- Company has delivered good sales growth of 25.0% CAGR over last 5 years
- Operating margins have improved to 30.4% from 25.7%
- Institutional investors have been accumulating - FII+DII up 3.4pp
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (75.8% of PBT)
- Company has a low return on capital employed of 3.0%
- Company has a low return on equity of 1.1% over last 3 years
- Promoter holding has decreased over last 2 years: -2.8pp
- Working capital days have increased from 41 to 165 days
- Company has delivered a poor profit growth of -25.4% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASAHIINDIA | 969.70 | 56.49 | 24720.29 | 0.21 | 149.08 | 172.09 | 1413.39 | 15.99 | 11.84 | 22.96 |
| BORORENEW | 502.20 | 19.32 | 7391.57 | 0.00 | 86.64 | 142.58 | 405.69 | 17.06 | 10.72 | 31.50 |
| LAOPALA | 167.50 | 19.96 | 1859.25 | 2.99 | 262.00 | 933.33 | 713.58 | 993.36 | 15.06 | 36.33 |
| BOROSCI | 127.20 | 26.22 | 1131.46 | 0.00 | 4.35 | 203.44 | 106.75 | 11.22 | 10.63 | 7.92 |
| SEJALLTD | 646.50 | 23.39 | 737.01 | 0.00 | 7.22 | 63.41 | 117.95 | 52.88 | 22.56 | 13.71 |
| BANARBEADS | 112.20 | 39.31 | 74.02 | 0.00 | 0.72 | 18.03 | 9.06 | 45.86 | 5.70 | 15.07 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 238 | 280 | 241 | 227 | 242 | 266 | 275 | 327 | 332 | 378 | 387 | 438 | 406 | |
| 188 | 259 | 222 | 219 | 215 | 218 | 256 | 257 | 245 | 255 | 265 | 302 | 301 | |
| Operating Profit | 50 | 21 | 19 | 8 | 27 | 48 | 19 | 70 | 87 | 124 | 122 | 136 | 104 |
| OPM % | 20.94% | 7.51% | 7.78% | 3.48% | 11.22% | 17.95% | 6.92% | 21.44% | 26.18% | 32.68% | 31.54% | 31.01% | 25.72% |
| 7 | 6 | 4 | 5 | 3 | 5 | 2 | 7 | -320 | -32 | 7 | 9 | 14 | |
| Interest | 7 | 8 | 9 | 2 | 6 | 8 | 5 | 7 | 4 | 4 | 3 | 3 | 2 |
| Depreciation | 31 | 26 | 29 | 29 | 29 | 28 | 27 | 25 | 22 | 22 | 22 | 21 | 21 |
| Profit before Tax | 18 | -7 | -15 | -18 | -5 | 17 | -11 | 45 | -259 | 66 | 104 | 120 | 118 |
| Tax % | 25.97% | 15.94% | 28.22% | 23.77% | 27.05% | 27.68% | 18.09% | 26.30% | -5.01% | 30.75% | 24.82% | -40.81% | 25.89% |
| Net Profit | 14 | -6 | -11 | -13 | -4 | 13 | -9 | 33 | -272 | 46 | 78 | 169 | 88 |
| 1.05 | -0.44 | -0.85 | -1.02 | -0.28 | 0.97 | -0.66 | 2.52 | -20.54 | 3.44 | 5.63 | 12.06 | 6.25 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 267 | 296 | 217 | 271 | 502 | 644 | 688 | 990 | 1,110 | 1,535 | 1,608 | |
| 248 | 256 | 183 | 235 | 305 | 400 | 531 | 889 | 946 | 1,067 | 1,123 | |
| Operating Profit | 19 | 39 | 34 | 36 | 197 | 244 | 157 | 101 | 164 | 468 | 486 |
| OPM % | 7.13% | 13.32% | 15.56% | 13.44% | 39.29% | 37.94% | 22.86% | 10.24% | 14.78% | 30.51% | 30.20% |
| 126 | 36 | 8 | 4 | 5 | 21 | 19 | 17 | 16 | -336 | -2 | |
| Interest | 1 | 0 | 0 | 7 | 8 | 3 | 7 | 26 | 26 | 14 | 12 |
| Depreciation | 6 | 5 | 18 | 32 | 42 | 42 | 50 | 114 | 108 | 87 | 86 |
| Profit before Tax | 138 | 70 | 23 | 1 | 153 | 220 | 119 | -21 | 47 | 31 | 409 |
| Tax % | 8.14% | 34.00% | -0.33% | 64.50% | 41.29% | 24.53% | 25.68% | 22.55% | 28.58% | 32.95% | 6.81% |
| Net Profit | 127 | 46 | 24 | 0 | 90 | 166 | 89 | -17 | 33 | 21 | 381 |
| EPS | 54.85 | 5.02 | 4.48 | 0.04 | 7.56 | 12.74 | 6.79 | -1.27 | 2.53 | 1.48 | — |
| Dividend Payout % | 4.56% | 12.45% | 25.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 21%
- 5 Years:
- 25%
- 3 Years:
- 31%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 3%
- 5 Years:
- -25%
- 3 Years:
- -38%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 10%
- 3 Years:
- 5%
- 1 Year:
- -14%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 8%
- 3 Years:
- 1%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 9 | 11 | 13 | 13 | 13 | 13 | 13 | 14 |
| 769 | 819 | 318 | 312 | 599 | 770 | 863 | 847 | 981 | 1,404 | |
| 0 | 0 | 42 | 83 | 61 | 140 | 363 | 270 | 176 | 93 | |
| Trade Payables | 14 | 32 | 10 | 17 | 22 | 33 | 44 | 49 | 58 | 50 |
| 26 | 34 | 45 | 70 | 87 | 100 | 109 | 170 | 286 | 255 | |
| Total Liabilities | 813 | 887 | 425 | 494 | 783 | 1,055 | 1,391 | 1,349 | 1,514 | 1,816 |
| 107 | 106 | 117 | 345 | 320 | 278 | 935 | 836 | 704 | 612 | |
| Capital Work in Progress | 4 | 4 | 125 | 1 | 4 | 297 | 14 | 9 | 18 | 108 |
| 457 | 511 | 46 | 7 | 280 | 214 | 12 | 69 | 107 | 630 | |
| 40 | 39 | 37 | 47 | 38 | 69 | 174 | 147 | 173 | 120 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 103 | 110 | 123 | |
| Cash & Bank | 4 | 10 | 5 | 4 | 9 | 18 | 7 | 33 | 11 | 48 |
| 200 | 217 | 96 | 90 | 131 | 180 | 249 | 154 | 392 | 177 | |
| Total Assets | 813 | 887 | 425 | 494 | 783 | 1,055 | 1,391 | 1,349 | 1,514 | 1,816 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 38 | 44 | -33 | 41 | 185 | 240 | 41 | 92 | 186 | 425 | |
| Cash from Investing | 6 | -17 | -44 | -61 | -332 | -260 | -221 | -86 | -342 | -711 |
| Cash from Financing | -34 | -7 | 88 | 35 | 172 | 96 | 185 | 8 | 142 | 316 |
| -2 | 6 | -5 | 1 | 1 | 9 | -10 | 14 | -14 | 30 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - BOROSIL RENEWABLES LIMITED has informed the Exchange regarding Interview of Mr. Pradeep Kumar Kheruka, Executive Chairman of the Company with CNBC Bajar.
2026-09-09 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Schedule of meet
2026-09-07 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Investor Presentation
2026-09-01 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Schedule of meet
2026-09-01 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Schedule of meet
2026-08-28 - BOROSIL RENEWABLES LIMITED has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-27 - BOROSIL RENEWABLES LIMITED has informed the Exchange regarding Proceedings of 63 rd Annual General Meeting held on August 27, 2026
2026-08-20 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Schedule of meet
2026-08-14 - BOROSIL RENEWABLES LIMITED has informed the Exchange about Forfeiture of 1,12,578 warrants pursuant to non-receipt of balance amount.
News
Recent coverage and analyst commentary for BORORENEW
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Borosil Renewables Ltd.
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