Borosil Renewables Limited reported a significant turnaround in its financial performance for the year ended March 31, 2026. The company achieved a standalone revenue of ₹1,53,482.50 lakhs, marking a 38.28% increase from the previous year. EBITDA saw an impressive surge of 172.38% to ₹49,167.61 lakhs, representing 32% of revenue. This growth was primarily attributed to higher domestic selling prices following the imposition of anti-dumping duties and increased production.
Financial Performance Highlights
Borosil Renewables Limited announced its financial results for the year ended March 31, 2026, showcasing robust growth across key metrics. The company reported a standalone revenue of ₹1,53,482.50 lakhs, an increase of 38.28% compared to the previous year’s ₹1,10,993.63 lakhs. The EBITDA also witnessed a substantial jump, increasing by 172.38% to ₹49,167.61 lakhs, reaching 32% of revenue from operations, up from 16% in the prior year.
Key Growth Drivers
This significant improvement in revenue and EBITDA was primarily driven by:
- An increase in domestic selling prices from January 2025, following the imposition of provisional anti-dumping duty on imports of solar glass from China and Vietnam effective December 04, 2024.
- An increase in production by 6%.
- Stock reduction initiatives.
The company’s Q4 FY2025-26 performance further highlighted this positive trend, with revenue reaching ₹43,761.69 lakhs and EBITDA at ₹14,460.81 lakhs, showing a substantial increase of 33.7% and 87.7% respectively compared to the previous year.
Market Position and Government Support
The anti-dumping duty on solar glass imports from China and Vietnam, valid until December 03, 2029, is expected to bolster the growth of domestic solar glass manufacturing, which has been battling unfair competition from China. Borosil Renewables also noted that average ex-factory selling prices realized during the year increased to ₹146.7/mm from ₹113.4/mm in the last year, significantly contributing to the improved revenue and EBITDA margin.
Export Performance and Outlook
Exports amounted to ₹11,328.95 lakhs, accounting for 7.38% of the turnover, compared to ₹8,711.46 lakhs in the last year. The company acknowledged that its major export markets are experiencing low demand but continues to explore opportunities for growth, particularly in the USA, which is restricting imports of glass from Chinese companies.
Source: BSE
