Borosil Renewables Ltd

However, revenue from operations jumped 9.41% to Rs 361.49 crore in the quarter ended 31 December 2024. The company reported a pre-tax loss of Rs 32.02 crore in Q3 FY25, compared to a pre-tax loss of Rs 18.18 crore reported in Q3 FY24. Total expenses jumped 16.08% year on year to Rs 408.56 crore in the quarter ended 31 December 2024. Power and fuel expenses stood at Rs 120.58 crore (up 21.08% YoY), employee benefit expenses stood at Rs 53.56 crore (down 1.32% YoY) and finance cost stood at Rs 5.08 crore (down 31.72% YoY) during the period under review. The company reported a 79.2% growth in EBITDA to Rs 5 crore in Q3 FY25, down from Rs 24.08 crore recorded in Q3 FY24. The EBITDA margin reduced to 1.4% compared to 7.3% posted in the previous corresponding quarter. On nine-month basis, the company reported consolidated net loss of Rs 49.47 crore in 9M FY25, compared to a net profit of Rs 1.18 crore in 9M FY24. Revenue from operations rose 1.40% YoY to Rs 1,105.79 crore in 9M FY25. Borosil Renewables is engaged in the business of manufacturing of extra clear patterned glass and low iron solar glass for application in photovoltaic panels, flat plate collectors and green houses. Powered by Capital Market - Live

Net Loss of Borosil Renewables reported to Rs 26.75 crore in the quarter ended December 2024 as against net loss of Rs 15.56 crore during the previous quarter ended December 2023. Sales rose 9.54% to Rs 361.49 crore in the quarter ended December 2024 as against Rs 330.01 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales361.49330.01 10 OPM %-2.796.10 - PBDT-0.1016.52 PL PBT-32.02-18.22 -76 NP-26.75-15.56 -72 Powered by Capital Market - Live

Borosil Renewables has allotted 78,80,436 warrants to the persons belonging to Non-Promoter category and 18,86,793 equity shares to Promoter / Promoter Group, on a preferential basis. Pursuant to the aforesaid allotment of equity shares, the issued and paid-up equity share capital of the Company stands increased to Rs. 13,24,66,748 divided into 13,24,66,748 equity shares of face value of Re. 1 /- each. Powered by Capital Market - Live

Borosil Renewables has approved the allotment of 78,80,436 warrants to the persons belonging to Non-Promoter category and 18,86,793 equity shares to Promoter / Promoter Group, on a preferential basis on 14 February 2025. Pursuant to the aforesaid allotment of equity shares, the issued and paid-up equity share capital of the Company stands increased to Rs. 13,24,66,748 divided into 13,24,66,748 equity shares of Re 1 each. Powered by Capital Market - Live

Borosil Renewables will hold a meeting of the Board of Directors of the Company on 14 February 2025.Powered by Capital Market - Live

The Board of Borosil Renewables at its meeting held on 30 January 2025 has approved change in directors: The Board has appointed the following as Additional Non-Executive Independent Directors for a term of 5 (five) consecutive years commencing from 30 January 2025: ' Akshaykumar Chudasama (DIN: 00010630); ' Vanaja N. Sarna (DIN: 10419005); and ' Shailendra Shukla (DIN: 00106531). The Board noted the impending tenure completion of the following Independent Directors on 02 February 2025: ' Pradeep Bhide (DIN: 03304262); ' Shalini Kamath (DIN: 06993314); ' Syed Asif Ibrahim (DIN: 08410266); and ' Haigreve Khaitan (DIN: 00005290)Powered by Capital Market - Live

The key equity indices extended losses in the mid-morning trade. The Nifty slipped below the 23,600 level. Oil & gas shares declined after advancing in the previous two consecutive trading sessions. At 11:29 IST, the barometer index, the S&P BSE Sensex, declined 395.67 points or 0.51% to 77,751.64. The Nifty 50 index fell 123.50 points or 0.52% to 23,565.45. In the broader market, the S&P BSE Mid-Cap index shed 0.23% and the S&P BSE Small-Cap index fell 0.32%. The market breadth was negative. On the BSE, 1,528 shares rose and 2,187 shares fell. A total of 145 shares were unchanged. IPO Update: The initial public offer (IPO) of Quadrant Future Tek received bids for 36,45,14,400 shares as against 57,99,999 shares on offer, according to stock exchange data at 11:09 IST on 9 January 2025. The issue was subscribed to 62.85 times. The issue opened for bidding on 7 January 2025 and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 275 and Rs 290 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof. The initial public offer (IPO) of Capital Infra Trust received bids for 2,17,10,850 shares as against 8,83,83,750 shares on offer, according to stock exchange data at 11:09 IST on 9 January 2025. The issue was subscribed to 0.25 times. The issue opened for bidding on 7 January 2025 and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 99 and Rs 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof. Buzzing Index: The Nifty Oil & Gas index fell 1.20% to 10,937.15. The index advanced 1.96% in the past two consecutive trading sessions. Oil India (down 6.72%), Aegis Logistics (down 3.61%), GAIL (India) (down 2.25%), Oil & Natural Gas Corpn (down 2.13%), Adani Total Gas (down 1.14%), Reliance Industries (down 1.02%), Indian Oil Corporation (down 0.91%), Bharat Petroleum Corporation (down 0.84%), Hindustan Petroleum Corporation (down 0.68%) and Castrol India (down 0.44%) declined. On the other hand, Indraprastha Gas (up 5.73%), Mahanagar Gas (up 2.32%) and Gujarat State Petronet (up 0.46%) edged higher. Stocks in Spotlight: Borosil Renewables hit an upper circuit of 5% after the company announced plans to expand its solar glass manufacturing capacity by 50% of its present capacity in manufacturing of solar glass. Manappuram Finance jumped 3.08% after the Reserve Bank of India lifted the restrictions imposed on Asirvad Micro Finance with respect to sanction or disbursal of loans with immediate effect. Hindalco Industries rose 0.62%. The company's wholly owned subsidiary, Novelis, said that its indirect wholly owned subsidiary, Novelis Corporation, has decided to raise 6.875% senior notes aggregating to $750 million via private offering. Global Markets: The Dow Jones index futures were down 60 points, signaling a negative opening for U.S. stocks today. Investors grappled with the prospect of slower interest rate cuts in 2025 while also speculating over increased trade tariffs under President Donald Trump. Asian shares traded mixed on Thursday as Wall Street investors remained cautious ahead of Friday's crucial jobs report, which will provide further insights into the state of the US labor market. Key economic data in Asia today will include China's inflation reading. US markets are closed today for a national day of mourning to honor the passing of former President Jimmy Carter. Wall Street indexes moved in a tight range on Wednesday after marking a weak start to 2025. The S&P 500 rose 0.1% to 5,917.30 points on Wednesday, while the NASDAQ Composite fell 0.1% to 19,475.93 points. The Dow Jones Industrial Average rose 0.3% to 42,635.20 points. Technology stocks weighed on Wall Street sentiment as investors booked profits after a strong 2024 performance. Market participants are now keenly awaiting the start of the fourth-quarter earnings season next week, with major banks set to release their results. The minutes of the Federal Reserve's December meeting revealed that policymakers are increasingly inclined towards a slower pace of interest rate cuts this year, citing concerns about persistent inflationary pressures. The minutes reiterated the central bank's hawkish stance, confirming a reduction in the projected number of rate cuts for 2025 from four to two. Some Fed officials expressed concerns that protectionist policies implemented under the Trump administration could continue to fuel inflation and hinder economic growth. The minutes highlighted the potential impact of changes in trade and immigration policy on the inflation outlook, suggesting that the fight against inflation may be more prolonged than initially anticipated.Powered by Capital Market - Live

Solar glass, an essential component in the production of photovoltaic (PV) solar panels, will see the company's manufacturing capacity increase from 1,000 tons per day to 1,500 tons per day. The expansion plans, which had been put on hold and now back on track after the company received approval from its board of directors on 18 December 2024. This decision came after the Ministry of Finance issued a notification on 4 December 2024, announcing a Reference Price for solar glass imports. which will act against cheap and dumped imports from China and Vietnam. With this expansion, the manufacturing capacity of the company will increase from 1,000 tons per day to 1,500 tons per day. The Reference Price, which ranges between US$ 673 to 677 for imports from China, translates to a minimum price of Rs 143 per mm/square meter at the container yard, and will act as a minimum threshold for import prices from China. It may be recalled that solar glass manufacturing in the country was thrust into a crisis of survival due to dumping of solar glass from Chinese owned companies, with import volumes sky rocketing coupled with a sharp drop of prices. With the Reference Price now in effect, the company is expected to see improved better margins which will support its expansion plans. The company stated that the growth in domestic production of solar glass will create a more robust and dependable supply chain for domestic PV module manufacturers of this critical component. Virtually all raw materials, skilled manpower, and technology are available within India, which will help avoid unnecessary outflows of foreign exchange while creating much-needed local jobs. Borosil Renewables is engaged in the business of manufacturing of extra clear patterned glass and low-iron solar glass for application in photovoltaic panels, flat plate collectors and green houses. The company reported consolidated net loss of Rs 9.75 crore in Q2 FY25 as against net profit of Rs 25.05 crore in Q2 FY24. Revenue from operations was at Rs 372.42 crore in Q2 FY25, down 7.27% year on year. Powered by Capital Market - Live

Borosil Renewables announced an expansion of 50% of its present capacity in manufacturing of solar glass, a critical component in the manufacturing of Photo Voltaic solar panels. The expansion plans, which had been put on hold, are now back on track, after receiving the approval from the Company's Board of Directors on 18 December 2024, on the basis of announcement of a 'Reference Price' for imports, by Ministry of Finance vide its notification dated 04 December 2024, which will act against Cheap and dumped imports from China and Vietnam. With this expansion, the manufacturing capacity of the Company will increase from 1000 tons per day to 1500 tons per day. The Reference price (US$ 673~677 for imports from China works out to a price of Rs 143 per mm/square meter at the Container Yard), and will act as a minimum threshold for import prices from China. The institution of a Reference Price for imported glass will enable Borosil Renewables to return back to better margins which will support its expansion plans.  Powered by Capital Market - Live

Borosil Renewables announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 9 January 2025.Powered by Capital Market - Live