"Powering India's Solar Future – One Glass at a Time"

Borosil Renewables Q1 Revenue Rises 37.4% Despite ₹325.91 Cr Provision for German Unit 

Borosil Renewables reported a 37.4% YoY increase in Q1FY26 standalone revenue to ₹332.26 crore, driven by strong domestic demand and higher average selling prices. EBITDA surged 211% to ₹92.53 crore, with margins improving to 27.8% from 12.3% last year. However, a one-time ₹325.91 crore provision for its insolvent German subsidiary GMB Glasmanufaktur impacted profitability. The company anticipates quarterly earnings to improve by ₹27 crore post-exit from GMB. Borosil announced a ₹1,950 crore expansion to add 600 TPD solar glass capacity at its Bharuch facility by December 2026. To fund the project and optimise capital structure, the Board approved a ₹2,379.52 crore preferential share issue, involving investors like Abakkus Fund and DS Group. The domestic business gained from anti-dumping duties on Chinese and Vietnamese solar glass. With India’s 280 GW solar target by 2030, Borosil is well-positioned for sustained growth.