Borosil Renewables Limited Reports Strong Q1 FY27 Growth with Significant Expansion Plans

Borosil Renewables Limited Reports Strong Q1 FY27 Growth with Significant Expansion Plans​

Borosil Renewables Limited has released its investor presentation for the quarter ended June 30, 2026, highlighting a period of robust financial growth and strategic expansion in the solar glass manufacturing sector. The company, which operates as India's first and largest solar glass manufacturer with a capacity of 1000 TPD (~6.5 GW), reported a substantial increase in revenue and EBITDA for the first quarter of fiscal year 2027.

Financial Performance Overview​

The company saw a significant rise in its standalone sales, which reached Rs. 405.69 cr during Q1FY27 compared to Rs. 332.26 cr in the corresponding quarter of the previous year. This growth was primarily driven by an increase in selling prices. The average Ex-factory selling price rose to INR 160.3/mm, up from INR 138.1/mm in the same period last year, which included a fuel surcharge implemented in March 2026.

The EBITDA for the quarter stood at Rs. 142 cr, representing a 35% margin on sales. This reflects a significant improvement over the 27.9% margin recorded in Q1FY26. Notably, the company has maintained an EBITDA margin above 33% for four consecutive quarters.

Standalone Profit and Loss Snapshot (₹ Crs)​

Operational Highlights and Infrastructure​

A key driver of operational efficiency this quarter was the commissioning of a new solar wind hybrid captive power plant in March 2026. This facility has increased the share of renewable power sources to 93% of the total power requirement for the quarter, contributing to both environmental sustainability and cost savings.

The company is also undertaking a major capacity expansion. Two new furnaces (SG-4 and SG-5), each with a capacity of 300 TPD, are currently being established at existing locations. This project involves an estimated investment of Rs. 950 crore and is scheduled for commissioning by December 2026. The expansion is strategically positioned to capture growing domestic demand and provide a substitute for imports following the imposition of anti-dumping duties on solar glass from China and Vietnam.

Strategic Growth Initiatives​

Borosil Renewables has entered the rooftop solar solutions business, offering branded solar panels, inverters, and lithium batteries. The company is focusing on distributed solar across three strategic states: Gujarat, Rajasthan, and Uttar Pradesh, targeting both residential and C&I segments.

To support this growth, the company secured a fresh infusion of Rs. 889.15 cr to strengthen its capital structure. This includes:

• Promoter Equity: Rs. 100.00 cr
• Non-Promoters (Warrants): Rs. 417.66 cr

As of the reporting date, the company has utilized a significant portion of these funds to support ongoing operations and expansion.

Market Context and Capacity Projections​

The Indian solar market continues to see strong growth. As of May 2026, renewables accounted for 43% of India's total installed power generation capacity (~231 GW), with solar contributing approximately 68% of that renewable share.

The company’s production capacity is expected to scale significantly over the coming years:

• CY22: 750 TPD
• CY23 & 24: 1350 TPD
• Est. CY26: 1600 TPD

The company anticipates that its upcoming capacity will meet a ready demand for solar glass, particularly as domestic production is expected to rise toward 7700 TPD by March 2027.

BORORENEW Stock Price Movement​

Shares of BOROSIL RENEWABLES LIMITED are climbing to ₹624.00 as of 9:14 AM in the pre-open session, up by 1.96%. This move comes on a volume of 28,440 shares as the stock shows early morning momentum.