Borosil Renewables Limited – Q1 FY26 Consolidated Results Summary
Announcement Date: September 3, 2025
- Revenue: Rs. 34,657.70 Lakhs, down 7.2% QoQ and flat YoY (Q1 FY25: Rs. 37,121.35 Lakhs).
- Operating Profit (before exceptional items): Rs. 3,573.07 Lakhs (~10.1% margin).
- Exceptional Item: Rs. 22,230.95 Lakhs impairment related to insolvency of step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH (GMB).
- Loss Before Tax: Rs. (18,657.88) Lakhs including exceptional item.
- Net Loss: Rs. (20,348.68) Lakhs; EPS (Basic & Diluted) at Rs. (12.56) per share (not annualised).
- Capital Raising: Rs. 517.66 Crores raised via preferential allotment and warrants; Rs. 185 Crores utilized to settle Standby Letter of Credit liability related to GMB; further equity issuance of ~Rs. 376 Crores approved, pending regulatory approval.
- Subsidiary Insolvency: Insolvency proceedings initiated for GMB in July 2025 due to lack of demand and ongoing funding needs (~€900k/month), resulting in asset impairment and restructuring at subsidiary level.
- Segment: Single business segment – Flat Glass manufacturing.
- Geographical Revenue: Domestic revenue stable at Rs. 29,763.59 Lakhs; export revenue declined sharply to Rs. 4,894.11 Lakhs in Q1 FY26 from Rs. 15,033.28 Lakhs in Q1 FY25.
- Balance Sheet: Paid-up equity increased marginally to Rs. 1,330.51 Lakhs due to warrant conversion; other equity (excl. revaluation reserve) at Rs. 98,416.97 Lakhs as of March 31, 2025.
- Management Commentary: Highlights insolvency impact on GMB, capital raising efforts, and ongoing restructuring; no changes in accounting policies.
- Outlook: Not explicitly provided; significant uncertainty due to GMB insolvency and related impairment.
Note: Standalone results for Q1 FY26 were approved earlier but are not included in this filing.