Borosil Renewables (BORORENEW) Q1 26/27 earnings summary

Executive summary

• Standalone and consolidated sales for Q1 FY27 were INR 405.69 crores, up 22% year-over-year, with EBITDA at INR 142 crores (35% margin), compared to INR 92.53 crores (27.9% margin) last year.

• Unaudited standalone and consolidated financial results for the quarter ended 30th June 2026 were approved and reviewed by the Board and auditors.

• Commissioned a solar wind hybrid captive power plant, increasing renewable energy share to 93% of total power used.

• Entered the rooftop solar solutions market, targeting INR 36 crore revenue in FY 2027, with single-digit EBITDA margins.

• The company operates primarily in the flat glass manufacturing segment.

Financial highlights

• Standalone Q1 FY27 revenue was INR 405.69 crores, up 22.1% YoY; EBITDA at INR 142 crores, up 53.5% YoY; EBITDA margin improved to 35%.

• Consolidated Q1 FY27 revenue was INR 405.69 crores, up 17.1% YoY; EBITDA at INR 141.16 crores, up 103.7% YoY; EBITDA margin at 34.8%.

• Standalone profit after tax for Q1 FY27 was INR 8,770.55 lakhs, compared to a loss of INR 27,234.57 lakhs in Q1 FY26 (impacted by exceptional items in prior year).

• Average selling price rose to INR 160.30 per sq m (from INR 138.10 last year and INR 150.20 previous quarter), including a fuel surcharge.

• Overseas subsidiaries had no revenue and a negative EBITDA of INR 0.84 crores, improved from a negative INR 23.24 crores last year.

Outlook and guidance

• Ongoing 600 TPD capacity expansion is on track for commissioning in Q4 FY 2027, expected to increase sales and EBITDA by 60%.

• Full revenue impact from new capacity anticipated from FY 2028.

• No equity raise planned for current expansion; future funding will depend on project size and profitability.

• Solar glass demand outlook remains positive, supported by government policies and rising module manufacturing.

• The company continues to invest in production capacity expansion and general corporate purposes, utilizing funds raised through preferential issues.