Q3 2026 Borosil Renewables Ltd Earnings Call Transcript
Key Points
- Borosil Renewables Ltd (BOM:502219) achieved an all-time high quarterly sales of INR386.5 crores, marking a 40% increase compared to the same quarter last year.
- The company's EBITDA saw a significant increase, reaching INR129.04 crores, which is 33.4% of sales, representing a 518% jump from the corresponding quarter last year.
- The average ex-factory selling price increased to INR149.97 per millimeter, contributing to improved margins.
- The company is on track to complete its capacity expansion by December 2026, which will increase production capacity by 60%.
- Borosil Renewables Ltd (BOM:502219) has managed to maintain stable prices despite currency depreciation, with only marginal increases in selling prices.
- Exports accounted for only 5.4% of turnover, with major markets like the EU, Turkey, and USA facing challenges due to low demand.
- The German subsidiary, Geosphere, filed for insolvency, impacting the company's consolidated financials.
- The company faces potential overcapacity issues due to the ALMM mechanism for modules, which could have future repercussions.
- There is uncertainty regarding the continuation of countervailing duties on imports from Malaysia, which could affect domestic market dynamics.
- The company is cautious about further capacity expansion due to the influx of new market participants and the need for skilled personnel.
Ladies and gentlemen, good day, and welcome to Borosil Renewables Limited Q3 FY26 earnings conference call 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, Shubham. Good evening. On behalf of Axis Capital, I am pleased to welcome you all for the Q3 FY26 earnings conference call of Borosil Renewables Limited. We have with us the management represented by Mr. PK Kheruka, Executive Chairman; Mr. Ashok Jain, Non-Executive Director; Mr. Sunil Roongta, Whole-Time Director and Chief Financial Officer; and Mr. Dhaval Patel, EVP, Investor Relations. We will begin with the opening remarks from the management, followed by an interactive Q&A session.
Thank you, and over to you, sir.
This is Pradeep Kheruka, Chairman.
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