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The latest update is out from Borosil Renewables Limited ( (IN:BORORENEW) ).
Borosil Renewables has announced that Geosphere Glassworks GmbH, its wholly owned, non-operating German subsidiary set up as a special purpose vehicle to hold a majority stake in GMB Glasmanufaktur Brandenburg GmbH, has filed a voluntary insolvency application before the insolvency court in Cottbus, Germany. The move follows GMB’s own insolvency proceedings initiated in July 2025 amid weak European solar market conditions, and a claim by a German government bank seeking repayment of a €4.81 million capital subsidy granted to GMB, after certain operational conditions tied to that subsidy could not be met. Geosphere has attributed its financial distress and inability to honour the bank’s demand to broader policy failures by the European Union and German authorities to protect European solar PV manufacturing, and has now sought insolvency protection due to insufficient resources. Borosil Renewables stated that its entire exposure of about Rs 13,003.09 lakh to Geosphere had already been fully provided for as an exceptional item in its June 2025 quarter results, and therefore it does not expect any material financial impact on the parent company from Geosphere’s insolvency filing.
More about Borosil Renewables Limited
Borosil Renewables Limited operates in the renewable energy materials segment, with a focus on manufacturing solar glass for photovoltaic applications. Through its subsidiaries, including German entities such as GMB Glasmanufaktur Brandenburg GmbH and Geosphere Glassworks GmbH, the company has pursued a strategic presence in the European solar glass market, historically engaging with government-backed support mechanisms and subsidies to expand solar glass production in the region.
Average Trading Volume: 59,207
Technical Sentiment Signal: Buy
Current Market Cap: 74.01B INR
See more data about BORORENEW stock on TipRanks’ Stock Analysis page.