Q3 2026 Borosil Ltd Earnings Call Transcript
Key Points
- Borosil Ltd (BOM:543212) reported a 9% year-over-year growth in consolidated revenues for the nine months of FY26, reaching approximately INR912 crores.
- The glassware segment saw an impressive 21% growth, driven by a shift from plastic to glass products, reflecting changing consumer preferences towards healthier and eco-friendly options.
- The company is investing in a new manufacturing facility in Rajasthan for vacuum insulated steel flasks, which will enhance cost efficiency and ensure BIS compliance.
- Borosil Ltd (BOM:543212) is setting up a 20 megawatt solar plant to reduce power costs, which will cover about 65% of the company's power requirements, aligning with its ESG goals.
- The company maintains a strong balance sheet with a net cash position of approximately INR13 crores, supported by robust cash flows of INR130 crores in the first nine months of FY26.
- The operating EBITDA margin decreased slightly to 16.2% from 17% in the previous year, indicating pressure on profitability.
- The non-glassware segment, including small home appliances and kitchen essentials, posted only a 2% increase in revenue, affected by BIS compliance requirements.
- The Hydra bottle sales experienced a 30% degrowth due to material availability issues, impacting overall revenue growth.
- The Opalware segment recorded a modest 7% growth, with the company acknowledging the need for a refresh to stimulate demand.
- The company faces challenges in ramping up its new manufacturing facility for Hydra bottles, which may take three to six months to reach full capacity utilization.
Ladies and gentlemen, good day, and welcome to Borosil Q3 FY26 earnings conference call hosted by ICICI Securities. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Manan Goyal from ICICI Securities. Thank you, and over to you, sir.
Thank you. Good evening, ladies and gentlemen. On behalf of ICICI Securities, we welcome you all to Q3 and nine months FY26 results conference call of Borosil Limited. Today, we have with us Senior Management Represented by Mr. Shreevar Kheruka, Managing Director and CEO; Mr. Rajeshkumar Chaudhary, Whole-Time Director; Mr. Anand Sultania, CFO; Mr. Rituraj Sharma, President; and Mr. Dhaval Patel, Head, Investor Relations.
Now I hand over the call to management for initial comments on the quarterly performance. Then we will open the floor for Q&A session. Thank you, and over to you, Shreevar, sir.
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