The shares of one of the leading Solar glass manufacturing company, specializing in producing durable and high-transparency glass have declined upto 5 percent following the Q3 results.
Price action
With a market capitalization of Rs. 6,254.21 crores on Monday, the shares of Borosil Renewables Limited down upto 4.9 percent making a low of Rs. 470.60 per share compared to its previous closing price of Rs. 495.10 per share.
What Happened
Borosil Renewables Limited engaged in producing durable and high-transparency glass has announced its Q3 results.
Its Revenue from operations rose by 10 percent YoY from Rs. 330 Crores in Q3FY24 to Rs. 361 Crores in Q3FY25 and it was down by 3.2 percent QoQ from Rs. 373 Crores in Q2FY25 to Rs. 361 Crores in Q3FY25.
Its Net Profit declined YoY from a loss of Rs. 15.9 Crores in Q3FY24 to Rs. 30.1 Crores of loss in Q3FY25 and it QoQ from a loss of Rs. 13.1 Crores in Q2FY25 to Rs. 30.1 Crores loss in Q3FY25.
The earnings per share (EPS) for the quarter stood at a minus Rs. 2.05, compared to a minus Rs. 0.75 in the previous quarter and minus Rs. 1.19 in the same quarter last year.
About the Company
Borosil Renewables Limited specializes in the manufacturing of high-quality solar glass, a critical component used in the production of photovoltaic (PV) solar panels. As India’s largest and oldest manufacturer of solar glass, the company plays a pivotal role in the renewable energy sector and is focused on providing advanced glass solutions that enhance the performance and efficiency of solar panels.
Industry Updates
The solar installation target has been raised to 280 GW by 2030, as of Q3 FY25, India’s total installed power generation capacity stands at ~462 GW, with renewables contributing 35 percent (~162 GW), the solar capacity has reached 98 GW, making up 60 percent of renewable capacity, with FY24 seeing a record 15 GW of installations the installations are expected to reach 25 GW in FY25 and 35 GW in FY26.
Written by Sridhar J
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