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Borosil Renewables up 6% on plans to sharpen focus on India solar sector
The company's market capitalisation stood at ₹6,778.32 crore. Its 52-week high was at ₹644 per share and 52-week low was at ₹403.1 per share.
Why were Borosil Renewable shares in demand?
The buying interest on the counter came after the company's German arm GMB Glasmanufaktur Brandenburg GmbH filed for insolvency which frees up resources and management bandwidth for Borosil Renewables to further scale its core Indian operations which are experiencing robust demand, policy tailwinds, and improving pricing environment following the imposition of anti-dumping duties on imports from China and Vietnam, according to the filing.
GMB, with a capacity of 350 tonnes per day (TPD), had served European manufacturers of solar modules for their requirements of solar glass. However, demand erosion became drastic last year, as Chinese manufacturers flooded the European market with severely underpriced solar modules. European solar module manufacturers, amongst them stellar names like Meyer Berger started closing down.
Demand for solar glass dropped precipitously, as module manufacturers started shutting down. Based on policies announced at the EU and Federal levels, Borosil continued support through its subsidiary, with operational adjustments and financial support totalling €27 million.
Further, GMB's operations will be overseen by a court-appointed administrator in Germany. Borosil will no longer account for GMB's financial losses, which amounted to approximately ₹9 crore per month, according to the filing.
Borosil will have to assess and account for any impact, on account of the aforesaid insolvency resolution process of GMB, in the forthcoming quarterly results. The exposure as of March 31, 2025, in the German subsidiary and step-down subsidiary is Euro 35.30 million.
India's solar module manufacturing capacity has already surpassed 90 GW and is expected to rise to 150 GW by March 2027, presenting a strong demand environment for domestic solar glass. In May 2025, Borosil announced plans to increase its manufacturing capacity by 600 TPD through two new furnaces, investing approximately ₹950 crore. This would mark a 60 per cent expansion over its current capacity of 1,000 TPD.
About Borosil Renewables Limited
Borosil Renewable manufactures solar glass and a global pioneer in clean energy materials innovation. Through technology leadership, backwardintegrated manufacturing, and deep commitment to ESG, the company plays a central role in enabling India's solar energy ambitions.
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United News of India
14 minutes ago
- United News of India
PM Modi, Maldivian President release commemorative stamps to mark 60th anniversary of diplomatic ties
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Time of India
14 minutes ago
- Time of India
Timely, productive visit helped review & build India-Maldives cooperation: FS Misri on PM Modi's Malé visit
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Balasubramanian and Additional Secretary Puneet Agrawal, Misri provided a detailed account of the day's developments."As you would be aware, the Prime Minister is on a two-day state visit to the Maldives. You are all familiar with the fact that this is his third visit to the Maldives. He also happens to be the first head of government to be visiting the Maldives during the administration of President Muizzu," he saidReflecting the ceremonial importance of the occasion, Misri detailed that on arrival at the airport, the Prime Minister was warmly received by President Muizzu and members of his cabinet. "This was a very special gesture by the President. The Prime Minister was also corded a Ceremonial Guard of Honour and welcomed with a special cultural performance."This ceremonial welcome set the stage for substantive discussions and on Friday afteroon the Prime Minister and President Muizzu held restricted and delegation-level talks. "This gave both leaders the opportunity to review the entire gamut of issues in the bilateral relationship. They renewed various aspects of India-Maldives relations and in particular reflected on the progress made since October 2024, when President Muizzu had visited India on a state visit and when both countries had adopted the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership," he talks were followed by the signing of key agreements. "You would already be familiar with; you would have seen the ceremony for exchange of memoranda of understanding and agreements between the two sides. Let me just review the key agreements and MOUs that have been signed. We have signed an MOU related to the extension of a fresh line of credit of Rs 4,850 crore to the Maldives. This is the first LOC extended to the Maldives that is denominated in Indian rupees. 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"This very, very timely and productive visit has provided an opportunity to both countries and both leaders to review our very close cooperation and to continue to build further on it. The two sides, as I said in the beginning, reviewed the joint vision for the India-Maldives Comprehensive Economic and Maritime Security Partnership, and as a result of the discussions today, arrived at the conclusion that we should continue to implement various elements of this vision, and explore newer avenues to collaborate further between the two sides."
Indian Express
14 minutes ago
- Indian Express
Will scotch get cheaper for Indian consumers after UK trade deal? Not by much, say experts
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The revision will apply to both bottled-in-origin (BIO) and bulk imports. According to Anant S Iyer, director-general of the Confederation of Indian Alcoholic Beverage Companies (CIABC), the tariff reduction could lead to newer scotch brands entering the domestic market with competitive pricing. 'Our fear is that a lot of new scotch brands from the UK can come in. These brands may not be famous here today, but they can come in at really aggressive prices that are comparable to Indian premium whisky. Already, some standalone importers are bringing in BIO whisky under 150 per cent duty with aggressive pricing,' Iyer said. Popular British scotch brands that could become slightly cheaper include Chivas Regal, Ballantine's, Glenlivet, Glenfiddich, and Johnnie Walker. Whisky was the UK's fifth-largest export product to India in 2024-25, valued at roughly $260 million, up 16 per cent from 2023-24. 'Import duties contribute only a fraction of the final price, with state excise, logistics, and distributor margins forming a large share of consumer cost. From a market standpoint, the FTA is more likely to influence product availability and premiumisation than spark a sudden demand surge. UK whisky makers may use this as an opportunity to expand brand presence,' said Naveen Malpani, Partner and Consumer Industry Leader, Grant Thornton Bharat. Industry expert Vinod Giri said a brand like Black Label in Delhi, priced at around Rs 3,500, may only get Rs 200-300 cheaper if the entire duty cut is passed on. While the reduction in consumer prices may not be much, British exporters and domestic producers who blend imported scotch could see their margins improve. Scotch is typically blended with Indian-made whisky in proportions ranging from 2 to 30 per cent, depending on the product's price segment. Popular whisky brands that blend imported scotch include Blenders Pride and McDowell's No. 1. 'Any duty reduction on Scotch whisky means the cost of production for Indian whisky makers who import it for blending goes down to that extent. While it's not likely to reflect in consumer prices, the fact is that if their costs go down, their bottom lines improve,' Giri said. 'Indian blenders will have savings per case. It depends on how much quantity of vatted malt scotch is used in the blends, and hence there will certainly be savings for them,' Iyer added. According to Giri, the reduction in customs duty will also result in bottled-in-India (BII) whisky becoming BIO over a period of 3-4 years. 'With standard Scotch whisky, if the entire duty cut is passed on, prices may drop by Rs 100-150 a bottle, bringing them close to BII whisky, which sells for around Rs 1,500. BII is also Scotch, just imported in bulk to avoid duties on packaging and other costs,' he said. 'But with the new duty set to drop to 75 per cent and then gradually to 40 per cent, it makes little commercial sense to bottle locally, invest in factories, and deal with operational hassles. Production costs are already lower in Scotland due to scale efficiencies, so they might as well ship scotch bottled from there and improve margins,' Giri added. 100 Pipers, Teacher's, Black Dog, and Black & White are among big brands that bottle imported scotch in India. Scotch distillers in the UK have welcomed the reduction in tariffs, which will give them greater access to the world's biggest whisky market by volume. 'The deal will support long term investment and jobs in our distilleries in Speyside and our bottling plant at Kilmalid and help deliver growth in both Scotland and India over the next decade,' said Jean-Etienne Gourgues, Chairman and CEO of Chivas Brothers, the firm behind popular whisky brands such as Chivas Regal and Ballantine's. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
