- Valuation
- ₹7,348 Cr

About Borosil Renewables
Borosil Renewables is a publicly listed company based in Mumbai (India) founded in 1962. Solar glass is manufactured by Borosil Renewables for photovoltaic applications. The company has 1,730 employees. Borosil Renewables has completed 2 acquisitions, including GMB Glasmanufaktur Brandenburg and Interfloat. Its chief executive, as recorded, is Shreevar Kheruka. Its Indian entity Borosil Renewables Limited reported revenue of ₹1,581 Cr. Its focus areas include Energy, Solar Energy, Solar Products and Multi-Products. Its competitors include Servoteh, Nessa and SuKam Solar; 2 of its 3 listed competitors have raised funding.
Company details
Borosil Renewables was established in 1962 and is based in Mumbai, India. Solar glass is produced by the company for integration into solar panels within the renewable energy sector. Manufacturing operations are centered on high-quality glass solutions essential for photovoltaic modules. The firm is led by Shreevar Kheruka, who serves as CEO and Managing Director, with activities focused on supporting solar technology deployment across India and beyond.
Recognitions & Rankings of Borosil Renewables
- Headquarters Mumbai, India
- Employees 1,730
- Stage Public
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website borosilrenewables.com
- Social LinkedIn X Facebook YouTube
- Legal Name Borosil Renewables Limited
- Market Cap₹5,834 Cr
BORORENEW · NSE
- Share Price₹384.50
-3.00% today
- Revenue₹1,556 Cr
FY 2025-26 · +5.2% YoY
- EBITDA₹227 Cr
Margin 14.6%
- Net Profit₹322 Cr
FY 2025-26 · +459.9% YoY
- P/E (TTM)16.0x
P/B 3.3x
- ROE25.5%
ROCE 25.0%
- Debt / Equity0.16
Interest cover 10.8x
- Latest Funding Round$27.2M (USD), Post-IPO
Dec 2020
- Investors
- Employee Count1,730
- Investments & AcquisitionsGMB Glasmanufaktur Brandenburg
& 1 more
Associated legal entities of Borosil Renewables
Borosil Renewables operates through Borosil Renewables Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Borosil Renewables Limited Listed CIN L26100MH1962PLC012538 | Active | 14 Dec 1962 | Mumbai, Maharashtra | ₹1,581 Cr | 337 | 12 | View details |
Apps and channels of Borosil Renewables
its YouTube channel Borosil Renewables Ltd. has 600 subscribers and 6 videos.
Videos from Borosil Renewables
The most watched videos on Borosil Renewables's YouTube channel, Borosil Renewables Ltd. (600 subscribers). Click a video to play it here.
More on Borosil Renewables Ltd..
Funding Insights of Borosil Renewables
- Total Rounds 1
- Last Round Post-IPO — $27.2M
- First Round $27.2M
(Dec 2020)
- Investors Count 1
All 1 funding rounds of Borosil Renewables with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2020 | $27.2M | Post-IPO | – | – |
1 investors in total: 1 institutional.
Investors in Borosil Renewables
Borosil Renewables has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Convergent Finance.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Convergent Finance is engaged in private equity investments in India. | convergentfinance.com | Mumbai, India |
Investor details for Borosil Renewables
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Borosil Renewables Limited (Borosil Renewables)
Borosil Renewables Limited is the primary company behind Borosil Renewables. The board of Borosil Renewables Limited currently have 9 directors; the longest-serving is Pradeep Kumar Kheruka, appointed in 1988. 27 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pradeep Kumar Kheruka DIN 00016909 | Whole-time director | 24 Nov 1988 | 37 yrs 10 mo | Borosil Renewables Limited |
| Shreevar Kheruka DIN 01802416 | Director | 24 Aug 2009 | 17 yrs 2 mo | Borosil Renewables Limited |
| Raj Kumar Jain DIN 00026544 | Director | 03 Feb 2020 | 6 yrs 8 mo | Borosil Renewables Limited |
| Ashok Jain DIN 00025125 | Director | 12 Feb 2020 | 6 yrs 8 mo | Borosil Renewables Limited |
| Sunil Kishanlal Roongta DIN 02422690 | Whole-time director | 27 May 2024 | 2 yrs 4 mo | Borosil Renewables Limited |
| David Moses Melwyn DIN 06927700 | CEO | 02 Dec 2024 | 1 yr 10 mo | Borosil Renewables Limited |
| Akshaykumar Narendrasinhji Chudasama DIN 00010630 | Director | 30 Jan 2025 | 1 yr 8 mo | Borosil Renewables Limited |
| Vanaja Narayanan Sarna DIN 10419005 | Director | 30 Jan 2025 | 1 yr 8 mo | Borosil Renewables Limited |
| Shailendra Kumar Shukla DIN 00106531 | Director | 30 Jan 2025 | 1 yr 8 mo | Borosil Renewables Limited |
People of Borosil Renewables
18 people are tracked at Borosil Renewables (8 in leadership, 10 in team); the tracked headcount is 1,730.
| Name | Role | Group |
|---|---|---|
| CEO & Managing Director | Leadership | |
| Whole-time Director | Leadership | |
Dilip Acharya | Head HR At Borosil Renewables Ltd. | Leadership |
Ajay Nehra | Senior Manager - Intellectual Property Head | Leadership |
Srinivas Panda | Chief Manager -hr | Leadership |
Biswanath Sen | Deputy General Manager- Head R&d | Leadership |
Kartik Kumar Das | Deputy General Manager | Leadership |
Bikash Singh | Deputy General Manager Of Sales | Leadership |
Shashibhushan Mishra | Senior Executive | Team |
Ajitsinh Sindha | Deputy Manager | Team |
Vijay Shukla | Manager Administration | Team |
Ashish Gohil | Assistant Manager | Team |
Vrushali Jadhav | Senior Manager - International Business | Team |
Sachin Kochar | Graduate Engineer Trainee | Team |
Narendra Chundi | Deputy Manager Research Development | Team |
Ramavtar Sharma | Assistant Manager - Corporate Secretatial | Team |
Sandip Pipaliya | Sr. Executive Instrumentation Project | Team |
Aakash Prajapati | Officer | Team |
Complete people profiles for Borosil Renewables
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Borosil Renewables
Borosil Renewables is a publicly listed company on the NSE with ticker symbol BORORENEW in India, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date25 May 2018
- Listed onNSE: BORORENEW
- Listed entityBorosil Renewables Limited
- Exchange sectorProcess industries
- ISININE666D01022
- Share price₹436.30 (+0.61% on the day) · 2026-10-14
- Market capitalisation₹6,146 Cr
- Price to earnings15.9
- EPS (diluted, trailing year)₹27.36
- Volume (last session)231,667
Financials of Borosil Renewables
Exchange-reported figures of Borosil Renewables Limited, the listed company behind Borosil Renewables (NSE: BORORENEW).
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,556 | 1,479 | 1,374 | 894 | 762 | 633 | 557 |
| Revenue growth | +5.2% | +7.7% | +53.7% | - | +20.4% | +13.6% | - |
| EBITDA | 227 | 57.34 | 58.07 | 143 | 103 | 87.82 | 60.35 |
| EBITDA margin | +14.6% | +3.9% | +4.2% | +16.0% | +13.6% | +13.9% | +10.8% |
| Profit before tax | 142 | (74.38) | (52.74) | 101 | 91.85 | 75.88 | 156 |
| Net profit | 322 | (89.44) | (79.13) | 68.13 | 53.53 | 44.70 | 44.55 |
| Net profit margin | +20.7% | -6.1% | -5.8% | +7.6% | +7.0% | +7.1% | +8.0% |
| EPS (₹) | 9.21 | (5.25) | (3.59) | 5.34 | 5.90 | 19.56 | 554.79 |
| Balance sheet | |||||||
| Total assets | 1,672 | 1,251 | 1,478 | 1,375 | 1,043 | 929 | 891 |
| Net worth | 1,511 | 997 | 873 | 919 | 848 | 816 | 765 |
| Total debt | 162 | 252 | 576 | 421 | 114 | 50.10 | 67.27 |
| Cash & bank | 77.71 | 69.16 | 166 | 133 | 14.15 | 13.90 | 10.74 |
| Net working capital | 218 | 295 | 426 | 334 | 246 | 163 | 198 |
| Cash flow | |||||||
| Cash from operations | 423 | 99.79 | 68.75 | (6.37) | (24.51) | 103 | 43.41 |
| Cash from investing | (738) | (142) | (215) | (116) | (25.72) | (67.00) | 20.23 |
| Cash from financing | 323 | (52.68) | 168 | 238 | 39.84 | (30.53) | (64.15) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 406 | 440 | 390 | 379 | 347 | 374 | 361 | 373 |
| Revenue growth (YoY) | +17.1% | +17.8% | +8.0% | +1.6% | -6.5% | - | - | - |
| Other income | 14.61 | 8.94 | 24.56 | 1.81 | 6.43 | 11.91 | 15.07 | 5.25 |
| EBITDA | 127 | 136 | 123 | 111 | (159) | 15.38 | (10.08) | 29.40 |
| EBITDA margin | +31.3% | +30.9% | +31.5% | +29.2% | -46.0% | +4.1% | -2.8% | +7.9% |
| Depreciation | 21.56 | 21.45 | 22.16 | 22.28 | 29.50 | 36.24 | 31.92 | 33.30 |
| Interest | 2.32 | 3.36 | 3.01 | 3.61 | 4.20 | 9.54 | 5.08 | 9.64 |
| Profit before tax | 118 | 120 | 122 | 86.62 | (187) | (18.49) | (32.01) | (8.29) |
| Tax | 31.25 | (49.00) | 22.06 | 25.05 | 16.91 | 11.03 | (1.94) | 4.84 |
| Net profit | 86.66 | 169 | 100 | 61.57 | (203) | (29.52) | (30.07) | (13.13) |
| EPS (₹) | 6.19 | 12.06 | 7.15 | 1.97 | (12.56) | (1.53) | (2.05) | (0.75) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,535 | 1,110 | 990 | 688 | 644 | 502 | 271 |
| Revenue growth | +38.3% | +12.1% | +43.9% | +6.8% | +28.3% | +85.2% | - |
| EBITDA | 109 | 164 | 101 | 158 | 245 | 197 | 36.44 |
| EBITDA margin | +7.1% | +14.8% | +10.2% | +22.9% | +38.0% | +39.3% | +13.4% |
| Profit before tax | 30.94 | 46.86 | (21.35) | 119 | 220 | 153 | 1.28 |
| Net profit | 360 | 33.50 | (16.33) | 86.95 | 166 | 89.65 | 0.60 |
| Net profit margin | +23.5% | +3.0% | -1.7% | +12.6% | +25.8% | +17.9% | +0.2% |
| EPS (₹) | 1.48 | 2.53 | (1.27) | 6.79 | 12.72 | 6.89 | 0.04 |
| Balance sheet | |||||||
| Total assets | 1,668 | 1,340 | 1,217 | 1,243 | 944 | 695 | 420 |
| Net worth | 1,506 | 1,089 | 862 | 878 | 785 | 615 | 326 |
| Total debt | 162 | 251 | 355 | 363 | 157 | 78.87 | 92.29 |
| Cash & bank | 47.68 | 10.60 | 33.31 | 7.43 | 18.31 | 8.75 | 4.35 |
| Net working capital | 188 | 195 | 231 | 194 | 85.84 | 101 | 53.79 |
| Cash flow | |||||||
| Cash from operations | 425 | 186 | 92.26 | 25.64 | 173 | 161 | 26.20 |
| Cash from investing | (711) | (342) | (85.87) | (221) | (260) | (332) | (60.72) |
| Cash from financing | 316 | 142 | 8.05 | 185 | 95.89 | 172 | 35.09 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 406 | 438 | 386 | 378 | 332 | 327 | 275 | 266 |
| Revenue growth (YoY) | +22.1% | +33.7% | +40.4% | +42.5% | +37.6% | - | - | - |
| Other income | 13.99 | 8.92 | 7.14 | 1.80 | 5.52 | 6.87 | 1.84 | 5.20 |
| Total expenses | 278 | 302 | 265 | 289 | 571 | 257 | 256 | 218 |
| EBITDA | 128 | 136 | 122 | 89.82 | (239) | 70.17 | 19.05 | 47.67 |
| EBITDA margin | +31.6% | +31.0% | +31.5% | +23.7% | -71.9% | +21.4% | +6.9% | +17.9% |
| Depreciation | 21.33 | 21.23 | 21.93 | 21.86 | 21.78 | 24.84 | 26.65 | 27.82 |
| Interest | 2.32 | 3.36 | 3.01 | 3.61 | 4.20 | 7.24 | 4.80 | 7.61 |
| Profit before tax | 118 | 120 | 104 | 66.15 | (259) | 44.96 | (10.56) | 17.44 |
| Tax | 30.65 | (48.99) | 25.83 | 20.35 | 12.99 | 11.83 | (1.91) | 4.83 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 406 | 440 | 390 | 379 | 347 | 374 | 361 | 373 |
| Revenue growth (YoY) | +17.1% | +17.8% | +8.0% | +1.6% | -6.5% | - | - | - |
| Other income | 14.61 | 8.94 | 24.56 | 1.81 | 6.43 | 11.91 | 15.07 | 5.25 |
| EBITDA | 127 | 136 | 123 | 111 | (159) | 15.38 | (10.08) | 29.40 |
| EBITDA margin | +31.3% | +30.9% | +31.5% | +29.2% | -46.0% | +4.1% | -2.8% | +7.9% |
| Depreciation | 21.56 | 21.45 | 22.16 | 22.28 | 29.50 | 36.24 | 31.92 | 33.30 |
| Interest | 2.32 | 3.36 | 3.01 | 3.61 | 4.20 | 9.54 | 5.08 | 9.64 |
| Profit before tax | 118 | 120 | 122 | 86.62 | (187) | (18.49) | (32.01) | (8.29) |
| Tax | 31.25 | (49.00) | 22.06 | 25.05 | 16.91 | 11.03 | (1.94) | 4.84 |
| Net profit | 86.66 | 169 | 100 | 61.57 | (203) | (29.52) | (30.07) | (13.13) |
| EPS (₹) | 6.19 | 12.06 | 7.15 | 1.97 | (12.56) | (1.53) | (2.05) | (0.75) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,556 | 1,479 | 1,374 | 894 | 762 | 633 | 557 |
| Revenue growth | +5.2% | +7.7% | +53.7% | - | +20.4% | +13.6% | - |
| Other income | 24.94 | 35.25 | 50.13 | 19.74 | 39.73 | 31.96 | 136 |
| Total expenses | 1,329 | 1,422 | 1,316 | 751 | 658 | 545 | 497 |
| Employee cost | 111 | 210 | 218 | 118 | 89.47 | 73.09 | 72.39 |
| EBITDA | 227 | 57.34 | 58.07 | 143 | 103 | 87.82 | 60.35 |
| EBITDA margin | +14.6% | +3.9% | +4.2% | +16.0% | +13.6% | +13.9% | +10.8% |
| Depreciation | 95.39 | 135 | 132 | 54.01 | 45.15 | 36.85 | 32.45 |
| Interest | 14.18 | 31.55 | 29.22 | 7.79 | 6.19 | 7.05 | 7.77 |
| Profit before tax | 142 | (74.38) | (52.74) | 101 | 91.85 | 75.88 | 156 |
| Tax | 15.01 | 12.59 | (2.45) | 30.41 | 31.84 | 26.73 | 19.26 |
| Net profit | 322 | (89.44) | (79.13) | 68.13 | 53.53 | 44.70 | 44.55 |
| Net profit margin | +20.7% | -6.1% | -5.8% | +7.6% | +7.0% | +7.1% | +8.0% |
| EPS (₹) | 9.21 | (5.25) | (3.59) | 5.34 | 5.90 | 19.56 | 554.79 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.02 | 13.25 | 13.05 | 13.05 | 9.24 | 2.31 | 2.31 |
| Reserves & surplus | 1,413 | 891 | 860 | 906 | 839 | 814 | 763 |
| Shareholders' funds (net worth) | 1,511 | 997 | 873 | 919 | 848 | 816 | 765 |
| Minority interest | (1.21) | 2.29 | 19.70 | 23.11 | 77.46 | 59.58 | 55.55 |
| Secured loans | 162 | 251 | 571 | 416 | 110 | 50.10 | 67.27 |
| Unsecured loans | 0.00 | 1.03 | 4.91 | 4.20 | 3.50 | 0.00 | 0.00 |
| Total debt | 162 | 252 | 576 | 421 | 114 | 50.10 | 67.27 |
| Total liabilities | 1,672 | 1,251 | 1,478 | 1,375 | 1,043 | 929 | 891 |
| Assets | |||||||
| Gross block | 1,123 | 1,249 | 1,269 | 1,186 | 498 | 460 | 360 |
| Net block | 614 | 777 | 928 | 977 | 377 | 383 | 308 |
| Capital work in progress | 108 | 135 | 126 | 70.11 | 137 | 15.66 | 42.90 |
| Investments | 606 | 49.60 | 11.90 | 10.98 | 230 | 350 | 264 |
| Inventories | 120 | 238 | 245 | 265 | 191 | 88.55 | 94.69 |
| Sundry debtors | 121 | 129 | 123 | 93.30 | 115 | 123 | 93.73 |
| Cash & bank balances | 77.71 | 69.16 | 166 | 133 | 14.15 | 13.90 | 10.74 |
| Loans & advances | 22.96 | 31.24 | 67.64 | 66.08 | 63.09 | 60.66 | 84.85 |
| Total current assets | 342 | 467 | 601 | 557 | 384 | 286 | 284 |
| Total current liabilities | 124 | 172 | 175 | 223 | 138 | 123 | 85.88 |
| Net working capital | 218 | 295 | 426 | 334 | 246 | 163 | 198 |
| Total assets | 1,672 | 1,251 | 1,478 | 1,375 | 1,043 | 929 | 891 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|---|---|
| Opening cash | 52.82 | 148 | 126 | 11.46 | 11.25 | 5.68 | 6.20 |
| Net cash from operating activities | 423 | 99.79 | 68.75 | (6.37) | (24.51) | 103 | 43.41 |
| Net cash from investing activities | (738) | (142) | (215) | (116) | (25.72) | (67.00) | 20.23 |
| Net cash from financing activities | 323 | (52.68) | 168 | 238 | 39.84 | (30.53) | (64.15) |
| Net change in cash | 8.40 | (94.96) | 21.45 | 115 | (10.39) | 5.57 | (0.52) |
| Closing cash | 77.71 | 69.16 | 166 | 133 | 14.15 | 13.90 | 10.74 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +5.2% | +7.7% | +53.7% | - | +20.4% | +13.6% | - |
| EBITDA growth | +295.9% | -1.3% | -59.4% | - | +17.8% | +45.5% | - |
| PBT growth | +9998.0% | -41.0% | - | +10.0% | +21.1% | -51.4% | +339.1% |
| Net income growth | +459.9% | -13.0% | -216.2% | - | +19.8% | +0.3% | - |
| Revenue CAGR (3Y) | +20.3% | +24.8% | +29.5% | +17.1% | +22.5% | +24.8% | +52.9% |
| EBITDA CAGR (3Y) | +16.6% | -17.9% | -12.9% | +33.4% | +67.0% | +79.2% | +130.2% |
| Profitability & leverage | |||||||
| Net income margin | +8.2% | -5.9% | -3.7% | +7.9% | +7.9% | +7.8% | +24.6% |
| Return on capital employed | +25.0% | -4.4% | -4.0% | +8.1% | +10.7% | +9.7% | +8.8% |
| Return on net worth | +25.5% | -11.4% | -9.2% | +7.7% | +7.2% | +6.2% | +7.7% |
| Debt / equity | 0.16 | 0.44 | 0.56 | 0.46 | 0.10 | 0.07 | 0.12 |
| Long-term debt / equity | 0.10 | 0.31 | 0.41 | 0.35 | 0.02 | 0.02 | 0.03 |
| Interest cover | 10.77 | -40.41 | -39.67 | 8.74 | 10.62 | 13.83 | 27.85 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.31 | 1.17 | 1.12 | 0.75 | 1.59 | 1.55 | 1.62 |
| Inventory turnover | 8.70 | 6.12 | 5.39 | 3.38 | 5.44 | 6.94 | 6.47 |
| Debtors turnover | 12.44 | 11.77 | 12.73 | 9.58 | 6.38 | 5.86 | 6.74 |
| EPS (₹) | 9.21 | (5.25) | (3.59) | 5.34 | 5.90 | 19.56 | 554.79 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.65 | 2.50 | 25.00 |
| Book value per share (₹) | 101.76 | 68.25 | 66.88 | 70.45 | 91.83 | 353.21 | 3,313.69 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 406 | 438 | 386 | 378 | 332 | 327 | 275 | 266 |
| Revenue growth (YoY) | +22.1% | +33.7% | +40.4% | +42.5% | +37.6% | - | - | - |
| Other income | 13.99 | 8.92 | 7.14 | 1.80 | 5.52 | 6.87 | 1.84 | 5.20 |
| Total expenses | 278 | 302 | 265 | 289 | 571 | 257 | 256 | 218 |
| EBITDA | 128 | 136 | 122 | 89.82 | (239) | 70.17 | 19.05 | 47.67 |
| EBITDA margin | +31.6% | +31.0% | +31.5% | +23.7% | -71.9% | +21.4% | +6.9% | +17.9% |
| Depreciation | 21.33 | 21.23 | 21.93 | 21.86 | 21.78 | 24.84 | 26.65 | 27.82 |
| Interest | 2.32 | 3.36 | 3.01 | 3.61 | 4.20 | 7.24 | 4.80 | 7.61 |
| Profit before tax | 118 | 120 | 104 | 66.15 | (259) | 44.96 | (10.56) | 17.44 |
| Tax | 30.65 | (48.99) | 25.83 | 20.35 | 12.99 | 11.83 | (1.91) | 4.83 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,535 | 1,110 | 990 | 688 | 644 | 502 | 271 |
| Revenue growth | +38.3% | +12.1% | +43.9% | +6.8% | +28.3% | +85.2% | - |
| Other income | 23.38 | 16.49 | 17.49 | 18.91 | 20.51 | 5.36 | 3.61 |
| Total expenses | 1,426 | 946 | 889 | 531 | 400 | 305 | 235 |
| Employee cost | 92.07 | 78.14 | 73.88 | 61.59 | 45.31 | 34.64 | 26.85 |
| EBITDA | 109 | 164 | 101 | 158 | 245 | 197 | 36.44 |
| EBITDA margin | +7.1% | +14.8% | +10.2% | +22.9% | +38.0% | +39.3% | +13.4% |
| Depreciation | 86.79 | 108 | 114 | 49.98 | 42.45 | 42.08 | 32.10 |
| Interest | 14.17 | 25.81 | 26.23 | 7.43 | 2.80 | 7.96 | 6.67 |
| Profit before tax | 30.94 | 46.86 | (21.35) | 119 | 220 | 153 | 1.28 |
| Tax | 10.20 | 13.39 | (4.81) | 30.60 | 53.91 | 63.04 | 0.82 |
| Net profit | 360 | 33.50 | (16.33) | 86.95 | 166 | 89.65 | 0.60 |
| Net profit margin | +23.5% | +3.0% | -1.7% | +12.6% | +25.8% | +17.9% | +0.2% |
| EPS (₹) | 1.48 | 2.53 | (1.27) | 6.79 | 12.72 | 6.89 | 0.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.02 | 13.25 | 13.05 | 13.05 | 13.04 | 13.00 | 11.41 |
| Reserves & surplus | 1,408 | 983 | 849 | 865 | 772 | 601 | 315 |
| Shareholders' funds (net worth) | 1,506 | 1,089 | 862 | 878 | 785 | 615 | 326 |
| Secured loans | 162 | 251 | 354 | 363 | 157 | 78.87 | 92.29 |
| Unsecured loans | 0.00 | 0.27 | 0.58 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 162 | 251 | 355 | 363 | 157 | 78.87 | 92.29 |
| Total liabilities | 1,668 | 1,340 | 1,217 | 1,243 | 944 | 695 | 420 |
| Assets | |||||||
| Gross block | 1,110 | 1,126 | 1,154 | 1,139 | 433 | 438 | 421 |
| Net block | 612 | 704 | 836 | 935 | 278 | 320 | 345 |
| Capital work in progress | 108 | 17.85 | 8.58 | 14.87 | 297 | 4.22 | 0.96 |
| Investments | 630 | 107 | 68.82 | 11.65 | 214 | 280 | 7.04 |
| Inventories | 120 | 173 | 147 | 174 | 68.79 | 37.87 | 46.79 |
| Sundry debtors | 123 | 110 | 103 | 54.60 | 59.55 | 72.44 | 40.63 |
| Cash & bank balances | 47.68 | 10.60 | 33.31 | 7.43 | 18.31 | 8.75 | 4.35 |
| Loans & advances | 21.78 | 44.08 | 51.38 | 72.95 | 24.15 | 47.65 | 29.15 |
| Total current assets | 312 | 338 | 334 | 309 | 171 | 167 | 121 |
| Total current liabilities | 124 | 143 | 103 | 115 | 84.96 | 65.77 | 67.13 |
| Net working capital | 188 | 195 | 231 | 194 | 85.84 | 101 | 53.79 |
| Total assets | 1,668 | 1,340 | 1,217 | 1,243 | 944 | 695 | 420 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.64 | 15.50 | 1.07 | 11.46 | 2.15 | 0.79 | 0.22 |
| Net cash from operating activities | 425 | 186 | 92.26 | 25.64 | 173 | 161 | 26.20 |
| Net cash from investing activities | (711) | (342) | (85.87) | (221) | (260) | (332) | (60.72) |
| Net cash from financing activities | 316 | 142 | 8.05 | 185 | 95.89 | 172 | 35.09 |
| Net change in cash | 29.54 | (13.86) | 14.43 | (10.40) | 9.31 | 1.36 | 0.57 |
| Closing cash | 47.68 | 10.60 | 33.31 | 7.43 | 18.31 | 8.75 | 4.35 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +38.3% | +12.1% | +43.9% | +6.8% | +28.3% | +85.2% | - |
| EBITDA growth | -33.8% | +61.7% | -35.7% | -35.5% | +23.9% | +441.6% | - |
| PBT growth | -34.0% | +9998.0% | - | -45.8% | +43.9% | - | -97.2% |
| Net income growth | +974.6% | +305.1% | -118.8% | -47.6% | +85.2% | - | - |
| Revenue CAGR (3Y) | +30.7% | +19.9% | +25.4% | +36.4% | +43.8% | +19.3% | +0.5% |
| EBITDA CAGR (3Y) | -11.7% | -12.5% | -19.9% | +62.9% | +93.3% | +71.1% | +24.1% |
| Profitability & leverage | |||||||
| Net income margin | +1.4% | +3.0% | -1.7% | +12.9% | +25.8% | +17.9% | +0.2% |
| Return on capital employed | +26.6% | +5.7% | +0.4% | +11.6% | +27.2% | +28.8% | +2.1% |
| Return on net worth | +27.7% | +3.4% | -1.9% | +10.7% | +23.7% | +19.1% | +0.2% |
| Debt / equity | 0.16 | 0.31 | 0.41 | 0.31 | 0.17 | 0.18 | 0.20 |
| Long-term debt / equity | 0.10 | 0.20 | 0.29 | 0.24 | 0.14 | 0.15 | 0.15 |
| Interest cover | 65.21 | 45.94 | -208.01 | 6.90 | 1.39 | 5.13 | 153.69 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.37 | 0.97 | 0.86 | 0.88 | 1.48 | 1.17 | 0.91 |
| Inventory turnover | 10.48 | 6.95 | 6.17 | 5.66 | 12.08 | 11.87 | 6.47 |
| Debtors turnover | 13.18 | 10.43 | 12.60 | 12.06 | 9.76 | 8.88 | 8.38 |
| EPS (₹) | 1.48 | 2.53 | (1.27) | 6.79 | 12.72 | 6.89 | 0.04 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 101.42 | 75.18 | 66.02 | 67.25 | 60.21 | 47.24 | 28.62 |
Investments & Acquisitions by Borosil Renewables
Borosil Renewables has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include GMB Glasmanufaktur Brandenburg and Interfloat.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Manufacturer of solar powered products | gmb-glas.de | Tschernitz, Germany | 2007 | Oct 2022 | •••• | |
Solar glass for photovoltaics and solar thermal applications is manufactured. | interfloat.com | Ruggell, Liechtenstein | 1982 | Apr 2022 | $26.89M |
Complete acquisition details for Borosil Renewables
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Timeline of Borosil Renewables
5 dated milestones of Borosil Renewables across 60 years, from founding to its latest funding, stage changes and deals.
- Founded Borosil Renewables is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $27.2M.
- Acquisition Acquires Interfloat.
- Acquisition Acquires GMB Glasmanufaktur Brandenburg.
Competitors of Borosil Renewables
Borosil Renewables has 3 listed competitors in our database, 2 of them funded. They include Servoteh, Nessa and SuKam Solar.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| servotech.in | 2004 | Delhi, India | 178 | Manufacturer of EV chargers, solar inverters, solar panels, batteries, servo stabilizers, UPS, and LEDs | ||
| nessa.in | 2008 | Ahmedabad, India | $95,277 | 84 | Offers solar consumer goods | |
| sukam-solar.com | 1998 | Gurugram, India | $10.08M | 97 | Provider of range of products and services, including solar panels, inverters, and LED street lights for homes and industries |
Detailed competitors of Borosil Renewables
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Web traffic of Borosil Renewables
The website of Borosil Renewables (borosilrenewables.com) receives about 5.3K visits a month.
- Monthly visits5.3K
▼ 51.5% vs previous month
Websites whose visitors overlap most with Borosil Renewables. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| mahascooters.com | 100% | 3.5K | #4,748,547 | View details | |
primeinfobase.in | primeinfobase.in | 94% | #11,077,747 | – | |
stockdiscovery.s3.amazonaws.com | stockdiscovery.s3.amazonaws.com | 86% | #1,797,807 | – | |
| borosil.com | 65% | 18.8K | #1,412,603 | View details | |
| capitalbank.co.in | 55% | 2.7K | #5,955,335 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 8 similar websites and full traffic analytics for Borosil Renewables
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- Audience overlap
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Top companies in Renewable & Sustainable Energy
3 companies that operate in the same segment as Borosil Renewables (Renewable & Sustainable Energy) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Hybrid renewable energy solutions are provided for rural communities. | 2008 | Patna, Bihar, India | USD 73.99 M | USD 3.46 M | 294 | |
Solar energy projects are developed for commercial and industrial clients. | 2011 | Mumbai, Maharashtra, India | USD 442.67 M | USD 166.51 M | 365 | |
Manufacturer of solar PV modules | 1990 | Mumbai, Maharashtra, India | USD 111.38 M | USD 2.77 B | 8,690 |
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Related news about Borosil Renewables
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Frequently Asked Questions about Borosil Renewables
Borosil Renewables was founded in 1962 and raised its 1st funding round 58 years after it was founded.
Borosil Renewables is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Shreevar Kheruka is the CEO of Borosil Renewables, as recorded in our data.
Borosil Renewables has 1,730 employees.
The primary company behind Borosil Renewables, Borosil Renewables Limited, reported revenue of ₹1,581 Cr for FY 2026, up 5% year on year.
Borosil Renewables was established in 1962 and is based in Mumbai, India. Solar glass is produced by the company for integration into solar panels within the renewable energy sector. Manufacturing operations are centered on high-quality glass solutions essential for photovoltaic modules. The firm is led by Shreevar Kheruka, who serves as CEO and Managing Director, with activities focused on supporting solar technology deployment across India and beyond.
Borosil Renewables's top competitors include Servoteh, SuKam Solar and Nessa.
Yes, Borosil Renewables is publicly traded on NSE under the ticker symbol BORORENEW.
Borosil Renewables has made 2 acquisitions, including GMB Glasmanufaktur Brandenburg, and Interfloat.
Borosil Renewables has 1 investor. Key investors include Convergent Finance.
Borosil Renewables operates through Borosil Renewables Limited.
The legal entities of Borosil Renewables currently have 11 directors, including Akshaykumar Narendrasinhji Chudasama, Pradeep Kumar Kheruka, Ashok Jain and others.
