Borosil Ltd (BOROLTD) AI Stock Analysis

• Market Cap: ₹26.57B
• Dividend Yield: N/A
• Average Volume (3M): 4.74K
• Price to Earnings (P/E): 35.2
• Beta (1Y): 1.11
• Revenue Growth: 15.59%
• EPS Growth: 20.12%
• Country: IN
• Employees: 881
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 2.00
• Shares Outstanding: 119,582,130
• 10 Day Avg. Volume: 3,678
• 30 Day Avg. Volume: 4,744
• PEG Ratio: 5.76
• Price to Book (P/B): 4.88
• Price to Sales (P/S): 3.56
• P/FCF Ratio: -33.65
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 6.65
• Revenue Forecast (FY): ₹12.12B

• Rating: 61 Neutral
• Price Target: ₹234.00 ▼(-19.41% Downside)
• Action: Reiterated Date: 03/11/26
• Date: Action: Reiterated 03/11/26

The score is primarily supported by solid operating performance (strong revenue growth and high gross margin) and a stable, low-leverage balance sheet. The main constraints are weak cash generation (negative operating and free cash flow) and a mixed technical picture with the price below key longer-term moving averages, while valuation appears relatively high at ~35x earnings.

Positive Factors

High gross margin & revenue growth

Sustained high gross margins (~63.3%) alongside solid revenue growth indicate durable product-level pricing power and effective cost control. This provides a structural buffer against input-cost volatility and supports reinvestment into brand and distribution over the next 2–6 months.

Low leverage / strong equity base

A low debt-to-equity ratio (~0.12) and strong equity ratio (~71.4%) give the company financial flexibility to fund capital expenditure, absorb demand shocks, or pursue selective investments without heavy refinancing risk, strengthening balance-sheet resilience.

High operating (EBIT) margin

An EBIT margin near 53% reflects structural operational efficiency—likely from manufacturing scale, product mix and cost control. High operating profitability supports long-term cash generation potential if cash conversion issues are addressed.

Negative Factors

Weak cash generation

Negative operating and free cash flows in 2025 signal a structural cash-conversion problem: despite accounting profits, operations are not generating cash. This constrains funding for capex, inventory and growth and increases reliance on external financing over the medium term.

Modest net margin

A net margin near 6.7% shows limited bottom-line conversion of strong gross and EBIT margins, implying higher operating expenses, distribution or tax burdens. This reduces retained earnings and limits the company’s ability to self-finance strategic investments or dividends.

Declining cash / liquidity risk

A noted decrease in cash and equivalents creates liquidity risk, especially given negative operating cash flow. Lower cash buffers can strain working capital during seasonality or supply disruptions and may force costly short-term borrowing or equity raises.

Borosil Ltd Business Overview & Revenue Model

Company Description

Borosil Limited operates as a glassware company in India and internationally. It operates through Scientificware and Consumerware segments. The company provides science and industrial products, including laboratory glassware, laboratory equipment, liquid handling equipment, sample processing equipment, and other laboratory equipment under the LabQuest brand name that are used in pharmaceutical, research and development, education, and healthcare sectors. It also offers primary packaging glass vials and ampoules under the Klass Pack name for pharmaceutical industry. In addition, the company provides consumer glassware products, including microwaveable kitchenware, opalware dinner sets, kitchen appliances, storage products, lunch boxes, and stainless-steel flasks and bottles under the Borosil brand name. It sells its products through distributors and online platform. The company also exports its products to approximately 50 countries. The company was formerly known as Hopewell Tableware Limited. Borosil Limited was founded in 1962 and is based in Mumbai, India.

How the Company Makes Money

Borosil Ltd primarily makes money by selling consumer glassware and kitchenware products under its brands. Revenue is generated from the sale of finished goods across product categories such as borosilicate glass cookware and storage solutions, drinkware, and related kitchen and dining products. These products are sold through a mix of channels that typically include general trade/distributors, modern retail (large-format retail chains), and e-commerce/online marketplaces, allowing the company to reach both offline and online consumers. Earnings are driven by product volumes, pricing and mix (higher-value or premium SKUs), brand-led demand, and the breadth of its distribution/retail presence. Specific details on segment-wise revenue split, named partnerships, or customer concentration are null.

Borosil Ltd Financial Statement Overview

Summary

Strong revenue growth and high gross margin (~63.3%) support the score, with low leverage (debt-to-equity ~0.12) and a strong equity ratio (~71.4%) providing balance-sheet stability. Offsetting this, profitability after expenses is modest (net margin ~6.7%) and cash flow is a key risk due to negative operating cash flow and negative free cash flow in 2025 alongside declining cash.

Income Statement

Borosil Ltd shows solid revenue growth with a significant jump from 2024 to 2025. The gross profit margin is strong at approximately 63.3% in 2025, indicating effective cost control. However, the net profit margin of around 6.7% for 2025 suggests room for improvement in profitability after expenses. The EBIT margin is impressive at approximately 53.1%, highlighting operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of approximately 0.12 in 2025. The equity ratio is strong at 71.4%, indicating a healthy capital structure. However, the decrease in cash and cash equivalents suggests potential liquidity challenges.

Cash Flow

Cash flow performance presents some concerns. The company recorded negative free cash flow in 2025, reflecting high capital expenditures and negative operating cash flow. The operating cash flow to net income ratio is negative, indicating cash flow issues that need addressing.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	11.81B	11.08B	9.49B	7.42B	8.40B	5.85B
Gross Profit	6.13B	7.01B	5.67B	2.91B	3.87B	2.57B
EBITDA	2.11B	1.70B	1.51B	960.79M	1.57B	991.34M
Net Income	867.46M	742.34M	658.67M	518.73M	837.30M	421.04M
Balance Sheet
Total Assets	11.79B	11.31B	10.80B	8.50B	9.57B	8.63B
Cash, Cash Equivalents and Short-Term Investments	407.74M	295.11M	648.76M	1.19B	1.83B	2.07B
Total Debt	800.78M	930.60M	1.65B	1.79B	11.91M	85.14M
Total Liabilities	3.28B	3.23B	5.00B	3.40B	1.74B	1.55B
Stockholders Equity	8.51B	8.08B	5.80B	5.10B	7.67B	6.95B
Cash Flow
Free Cash Flow	236.29M	-1.17B	-1.27B	-1.20B	-113.18M	1.64B
Operating Cash Flow	501.34M	-193.32M	480.32M	1.21B	765.67M	1.86B
Investing Cash Flow	-349.09M	-412.90M	-1.06B	-2.28B	-369.91M	-1.37B
Financing Cash Flow	-154.24M	564.74M	552.92M	934.10M	-235.60M	-450.76M

Borosil Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 290.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BOROLTD, the sentiment is Negative. The current price of 290.35 is above the 20-day moving average (MA) of 236.43, above the 50-day MA of 250.26, and below the 200-day MA of 312.42, indicating a bearish trend. The MACD of -6.81 indicates Positive momentum. The RSI at 39.18 is Neutral, neither overbought nor oversold. The STOCH value of 21.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BOROLTD.

Borosil Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CARYSIL	68 Neutral	₹22.18B	30.32	―	0.26%	11.21%	22.23%
LAOPALA	64 Neutral	₹20.43B	23.35	―	3.64%	-8.09%	-12.59%
TTKPRESTIG	63 Neutral	₹63.98B	64.27	―	0.97%	4.48%	-49.18%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BOROLTD	61 Neutral	₹26.57B	35.15	―	―	15.59%	20.12%
STOVEKRAFT	61 Neutral	₹16.58B	114.54	―	0.50%	7.89%	32.07%
HINDWAREAP	48 Neutral	₹16.51B	157.19	―	0.15%	-7.26%	-408.66%

Borosil Ltd Corporate Events

Borosil to Build New Bharuch Plant and Expand Jaipur Capacity

Borosil Limited’s board has approved the setting up of a new glassware manufacturing facility in Bharuch, Gujarat, with dedicated mass production lines to meet strong and rising demand for products such as storage jars, bottles and jugs currently sourced from Borosil Scientific’s Bharuch plant. The project, which involves an estimated capital expenditure of Rs 42 crore funded through internal accruals, is expected to commence commercial production by December 2026, and the company has also cleared an expansion of its borosilicate glass furnace capacity for pressware products at its Jaipur plant from 25 TPD to 32 TPD, signalling a broader scale-up of manufacturing capabilities.

Borosil Files SEBI-Mandated Dematerialisation Compliance Certificate for Q3 FY2025

Borosil Limited has notified the stock exchanges that it has obtained the mandatory quarterly certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025. The certificate, issued by its registrar and transfer agent MUFG Intime India Pvt. Ltd., confirms that all securities submitted for dematerialisation during the quarter were verified, accepted or rejected, listed in line with existing securities, and that corresponding physical certificates were duly mutilated, cancelled, and reflected in the company’s register of members within prescribed timelines, underscoring ongoing compliance with depository and listing norms.