Q3 2025 Borosil Renewables Ltd Earnings Call Transcript
Key Points
- Borosil Renewables Ltd (BOM:502219) experienced a 14% increase in sales volume during the third quarter compared to the previous quarter.
- The company is optimistic about the imposition of anti-dumping duties on solar glass imports from China and Vietnam, which is expected to restore fair competition.
- There is a significant demand for solar glass, with solar module manufacturing capacity expected to double to 150 gigawatts in the next two to three years.
- The company has plans to expand its production capacity by 3.25 gigawatts, contributing to a total capacity of 41.25 gigawatts by 2026.
- Borosil Renewables Ltd (BOM:502219) has received in-principle approvals for a preferential issue, raising INR517.66 crore to fund expansion projects.
- The company faced a decline in EBITDA, posting a post-tax loss of INR8.64 crore in the third quarter compared to a profit in the previous quarter.
- Increased Chinese dumping led to a steep decline in average ex-factory prices, impacting revenue growth.
- Export sales decreased significantly, accounting for only 6% of turnover in the third quarter compared to 13% in the previous quarter.
- The German subsidiary faced challenges due to a lack of demand, leading to a temporary pause in hot-end operations and a reduction in workforce.
- The company incurred additional expenses related to non-routine repairs and rights issue, further impacting EBITDA.
Ladies and gentlemen, good day and welcome to the Q3 FY25 results conference call of Borosil Renewables Limited hosted by Axis Capital Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rohan Gheewala from Axis Capital. Thank you and over to you, sir.
Thank you. Good evening, everyone. On behalf of Axis Capital, I'm pleased to welcome you all for the Q3 FY25 earnings conference call of Borosil Renewables Limited. We have with us the management represented by Mr. P.K. Kheruka, Executive Chairman; Mr. Ashok Jain, Whole-Time Director; Mr. Sunil Roongta, Whole-Time Director and Chief Financial Officer; and Mr. Balesh Talapady, VP, Investor Relations. We thank the management for giving us the opportunity to host the call.
We will begin with the opening remarks from the management followed by an interactive Q&A session. Thank you, and over to you, sir.
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