India · Delayed Price · Currency is INR Borosil Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 9% year-over-year to INR 912 crores for nine months FY26, with glassware up 21% and opalware up 7%. Hydra bottle sales fell 30% due to supply constraints, but new domestic capacity is expected to restore growth. EBITDA margin is targeted to rise to the low 20s.
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H1 FY 2026 revenue grew 14.7% YoY to INR 573 crores, with PAT up 45% to INR 40.1 crores. Strong growth in Glassware and Opalware offset margin pressures in Non-Glassware due to BIS compliance and supply chain shifts. CapEx and expansion continue to support long-term growth.
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Q1 FY26 saw 5.2% revenue growth and 87.4% PAT growth year-over-year, with improved EBITDA margins and strong non-glassware performance. Management maintains a 15%-20% medium-term growth outlook, supported by new capacity, cost savings, and product launches.
Fiscal Year 2025
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Revenue grew 16.8% to INR 1,107.8 crore in FY25, with strong glassware and non-glassware growth, but regulatory headwinds led to higher inventory and margin pressures. New capacity and CapEx position the company for long-term growth, though FY26 is expected to be challenging.
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Nine-month FY 2025 revenue grew 17.1% YoY to INR 837.6 crores, with strong gains in glassware and non-glassware segments. Margins faced short-term pressure from higher marketing costs and regulatory impacts, but management remains confident in achieving 15%-20% medium-term CAGR and 20%-22% EBITDA margins.
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Revenue grew 19.4% year-over-year in H1 FY 2025, with strong gains across all segments and improved margins. QIP proceeds reduced debt, and capacity utilization remains high, supporting a 15%-20% growth outlook.
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Q1 FY25 saw 23.2% revenue growth, margin expansion, and strong segment performance, supported by a successful INR 150 crore QIP and strategic inventory build-up. Management expects continued double-digit growth and margin improvement as new capacity ramps up.