India · Delayed Price · Currency is INR Borosil Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 8% year-over-year to INR 1,195.9 crore, but margins declined due to high input costs and regulatory challenges, especially in the Hydra category. Major investments in manufacturing and solar power are expected to improve efficiency, with management targeting 15%-20% annual revenue growth.
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Revenue grew 9% year-over-year to INR 912 crores, with strong glassware growth and robust cash flows, but Hydra segment sales declined 30% due to supply constraints. EBITDA margin was 16.2%, and management expects margins to rise to the low 20s as new capacity ramps up and cost controls take effect.
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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% YoY to INR 1,107.8 crore, with strong gains in glassware and non-glassware segments. Regulatory changes led to higher inventory and costs, impacting margins and creating near-term revenue risks, but management maintains a 15%-20% CAGR growth outlook.
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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 glassware, opalware, and non-glassware segments. Operating EBITDA margin improved to 15.8%, and net debt reduced after a successful QIP. Management maintains 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.