India · Delayed Price · Currency is INR Borosil Renewables Earnings Call Transcripts
Fiscal Year 2026
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Record quarterly sales and EBITDA growth driven by higher selling prices and operational efficiency. Revenue and margins are expected to remain stable until new capacity comes online in FY 2027, with no further equity dilution planned.
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Q2 FY26 saw strong sales and margin expansion, with near full capacity utilization and robust domestic demand. Expansion projects are on track, and management expects to sustain high EBITDA margins amid growing industry capacity and stable pricing.
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Standalone Q1 FY26 sales rose 37% year-over-year, with EBITDA margin at 27.8% and strong domestic demand. A one-time INR 325.91 crore provision was made for the insolvent German subsidiary, and a 600 TPD expansion is on track for Q3 FY27 commissioning.
Fiscal Year 2025
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Sales and EBITDA grew strongly year-over-year, driven by higher prices and robust domestic demand, while European operations faced losses. Expansion plans are being revised upward, with new capacity and renewable power projects on track.
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Q3 FY25 saw strong volume growth but sharp margin compression due to Chinese dumping, leading to a net loss. Anti-dumping duties are expected to boost prices and profitability in coming quarters, with major capacity expansion underway.
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Q2 FY25 saw improved sales and margins, with profit after tax turning positive. Indian operations drove growth, while German operations struggled with weak demand. Anti-dumping duties and a rights issue are expected to support future performance.
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Q1 FY25 saw sequential improvement in revenue and margins, with EBITDA turning positive and post-tax loss narrowing. Outlook is optimistic due to upcoming customs duties and strong domestic demand, while a rights issue is planned to reduce debt.