Borosil Renewables Reports 21% Jump In Revenues In Q4

Q2: Borosil Renewables’ Exports Accounted For 13% Of Turnover  

Indian solar glass manufacturer Borosil Renewables Ltd today published its Q4 and annual financial results. The Q4 results (audited standalone) for FY24 indicated a 21 percent rise in its total revenues. However, the rise in losses remained a concern for the company.

As per the details, the company reported a total revenue of Rs 23,254 lakh against its earlier revenue of Rs 19,162 in Q4 of FY23, hinting at growth of 21 percent. On the other, on a Quarter-on-Quarter (QoQ) basis, the meanwhile reported a dip in its total revenues. 

While the company reported a total revenues of Rs 23,254 lakh in Q$ of FY24, its total revenue in FY23 stood at Rs 24,494, indicating a dip of five percent. 

On an annual basis, the company meanwhile reported a surge in total revenues from Rs 70,808 in Fy23 to Rs 1,00,777 in Fy24, reporting a surge of 42 percent rise.

The company however reported a reduced loss in Q4 on a YoY basis at Rs 1,336.75 lakh compared to Rs 1,168 lakh in Q4 of FY23. However, it reported higher losses on a quarterly basis. The company had reported a total loss of Rs 1103 lakh in Q3 of FY24. 

On an annual basis the company witnessed losses. While the company had reported a net profit of Rs 3060m lakh in FY23, the solar glass company reported a loss of Rs  1652 lakh in FY24.     

The company earlier had also blamed the negative effect of intrusion of several Chinese players who dump their cheap solar glass in the Indian solar glass manufacturers. This the management of the firm had said to have negatively impacted the few Indian solar glass manufactures.  It had also demanded from the Indian government to come up with some protection measures to curb the dumping of Chinse solar glass into the Indian renewable market. Solar glass is an important component of the solar modules.