Borosil Renewables (BORORENEW) investor relations material

Business overview and strategy

• Operates India's first and largest solar glass production line, with a current capacity of 1,000 TPD and plans to expand to 1,600 TPD by 2026, supporting module manufacturing equivalent to ~10.5 GW.

• Developed world-first innovations such as antimony-free and fully tempered 2mm textured solar glass, with a focus on high-performance, sustainable products.

• Supplies over 100 domestic customers and has a strong international presence, especially in Western Europe and Turkey, with expansion into the Americas and MENA.

• Business model includes both core solar glass manufacturing and new growth in end-to-end rooftop solar solutions, targeting residential and C&I segments.

• Maintains a 22% lower carbon footprint than the global glass manufacturing baseline and uses over 75% renewable energy.

Competitive advantages and innovation

• Offers superior solar glass transmission across all wavelengths, resulting in higher panel efficiency and power output.

• Glass products feature long-term durability, high hydrolytic resistance, and self-cleaning coatings, ensuring performance over a 25+ year lifespan.

• Fully tempered 2mm glass exceeds European safety standards, providing high mechanical strength and installer safety.

• Holds patents for eco-friendly, antimony-free glass technology and integrates circular economy principles.

• Achieves cost competitiveness through large-scale operations, product customization, and domestic supply advantages.

Market opportunity and growth drivers

• India's installed renewable power capacity reached 240 GW as of July 2026, with solar accounting for 69% of this and a national target of 280 GW by 2030.

• Key growth drivers include government initiatives (National Solar Mission, PM Suryaghar Yojana, PLI scheme), rising C&I demand, and policy support for domestic manufacturing.

• Domestic solar glass demand is projected at 11,000 TPD by FY26, with a persistent supply gap despite capacity expansions, creating significant market opportunity.

• Expansion plans are on track, with new furnaces to be commissioned by December 2026, aiming to capture a larger share of the growing market.

• Expected turnover to rise from ₹1,535 Cr in FY26 to ~₹2,500 Cr post-expansion, with margin expansion and a net cash positive position.