Revenue from operations increased 17.1% year-on-year to ₹405.7 crore from ₹346.6 crore. Operating performance also strengthened during the quarter, with EBITDA rising to ₹127.2 crore from ₹63.1 crore a year ago.
The company’s EBITDA margin improved to 31.3% from 18.2% in the year-ago period, indicating stronger pricing power and improved cost efficiencies after a challenging period marked by cheap solar glass imports.
Earlier on May 14, its Executive Chairman Pradeep Kumar Kheruka had said that Borosil Renewables is targeting a 60% increase in installed capacity by financial year 2027-28 (FY28).
“We expect installed capacity to be in production or started up within this year. I can speak for 2028 that the figure should be about 60% higher in terms of turnover, profitability, everything,” he said.
For FY27, Kheruka expects a marginal improvement in performance, with volume growth of around 8%, supported by operational efficiencies before the new capacity comes on stream.
The sharp improvement in profitability comes after India imposed anti-dumping duties on solar glass imports from China and Vietnam, a move expected to support domestic manufacturers such as Borosil Renewables by curbing cheaper imports and improving industry pricing.
Borosil Renewables shares ended 0.44% lower at ₹617.80 on the NSE on July 16, ahead of the earnings announcement.
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