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Borosil Renewables Limited
(BORORENEW)
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Rating:65Neutral
Price Target:
₹602.00
▲(9.89% Upside)
Action:Reiterated
Date:07/10/26
The score is driven primarily by improved FY2026 financial performance and a strengthened balance sheet, alongside a positive technical uptrend with supportive momentum. These positives are materially offset by expensive valuation (P/E ~75) and the company’s recent history of volatile profitability and cash flows.
Positive Factors
Specialized solar glass market position
Borosil Renewables occupies a specialized niche supplying low-iron textured glass to PV module makers. This product differentiation embeds the company in the renewable energy supply chain, creating durable demand exposure to long-term solar adoption and technical barriers versus generic glass suppliers.
Negative Factors
Volatile profitability history
The company has swung between losses and strong profitability across recent years, which undermines predictability of earnings. For a capital-intensive manufacturer, such swings indicate sensitivity to demand, pricing or execution; persistent volatility complicates planning, investor confidence and long-range capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized solar glass market position
Borosil Renewables occupies a specialized niche supplying low-iron textured glass to PV module makers. This product differentiation embeds the company in the renewable energy supply chain, creating durable demand exposure to long-term solar adoption and technical barriers versus generic glass suppliers.
Read all positive factors
Borosil Renewables Limited (BORORENEW) vs. iShares MSCI India ETF (INDA)
Market Cap
₹78.05B
Dividend YieldN/A
Average Volume (3M)76.43K
Price to Earnings (P/E)20.3
Beta (1Y)1.22
Revenue Growth11.07%
EPS GrowthN/A
CountryIN
Employees809
SectorGeneral
Sector StrengthN/A
IndustryPackaging & Containers
Share Statistics
EPS (TTM)27.44
Shares Outstanding140,283,190
10 Day Avg. Volume56,945
30 Day Avg. Volume76,428
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)3.40
Price to Sales (P/S)3.30
P/FCF Ratio24.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Borosil Renewables Limited Business Overview & Revenue Model
Company Description
Established in 1962 and based in Mumbai, India, Borosil Renewables Limited is a key producer and international distributor of flat glass products. This company, which rebranded from Borosil Glass Works Limited in February 2020, specializes in adva...
How the Company Makes Money
Borosil Renewables primarily makes money by manufacturing and selling solar glass to customers in the solar PV industry, with revenue largely linked to (1) sales volumes of solar glass shipped to PV module manufacturers and other solar component b...
Borosil Renewables Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.15B | 15.56B | 14.79B | 13.63B | 8.91B | 6.44B |
| Gross Profit | 10.54B | 6.33B | 10.52B | 4.23B | 4.01B | 2.80B |
| EBITDA | 5.47B | 4.42B | 925.87M | 1.07B | 1.62B | 2.65B |
| Net Income | 3.82B | 1.29B | -695.68M | -468.95M | 696.32M | 1.66B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 18.25B | 14.54B | 16.84B | 16.32B | 10.55B |
| Cash, Cash Equivalents and Short-Term Investments | 6.55B | 6.55B | 892.92M | 1.79B | 1.32B | 2.28B |
| Total Debt | 0.00 | 1.62B | 2.52B | 5.76B | 4.21B | 1.57B |
| Total Liabilities | -15.10B | 3.15B | 4.55B | 7.91B | 6.89B | 2.71B |
| Stockholders Equity | 15.10B | 15.11B | 9.97B | 8.73B | 9.19B | 7.85B |
Cash Flow | ||||||
| Free Cash Flow | 891.38M | 2.11B | -93.52M | -1.48B | -3.54B | -2.00B |
| Operating Cash Flow | 1.36B | 4.09B | 997.87M | 687.46M | -63.71M | 1.73B |
| Investing Cash Flow | -1.30B | -7.39B | -1.42B | -2.15B | -2.41B | -2.60B |
| Financing Cash Flow | -62.03M | 3.40B | -526.84M | 1.68B | 2.38B | 958.93M |
Borosil Renewables Limited Technical Analysis
Neutral
547.80
Price Trends
576.51
Negative
525.59
Positive
540.15
Positive
Market Momentum
-9.07
Positive
39.55
Neutral
14.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BORORENEW, the sentiment is Neutral. The current price of 547.8 is below the 20-day moving average (MA) of 593.87, below the 50-day MA of 576.51, and above the 200-day MA of 540.15, indicating a neutral trend. The MACD of -9.07 indicates Positive momentum. The RSI at 39.55 is Neutral, neither overbought nor oversold. The STOCH value of 14.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:BORORENEW.
Borosil Renewables Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹22.34B | 29.37 | ― | 0.61% | 14.71% | 14.49% | |
68 Neutral | ₹102.90B | 23.15 | ― | 0.67% | 11.88% | 17.67% | |
65 Neutral | ₹78.05B | 20.25 | ― | ― | 11.07% | ― | |
65 Neutral | ₹28.73B | 29.34 | ― | 1.00% | 2.26% | -31.65% | |
57 Neutral | ₹27.68B | -10.99 | ― | 0.92% | -34.19% | -193.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹34.05B | 10.72 | ― | 0.62% | 2.42% | 122.81% |
* General Sector Average
IN:BORORENEW
Borosil Renewables Limited
555.90
-43.55
-7.26%
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Borosil Renewables Limited Corporate Events
Borosil Renewables Files Q1 FY27 Earnings Call Transcript with Exchanges
Jul 22, 2026
Borosil Renewables Limited has released the official transcript of its Q1 FY27 results conference call with analysts and investors, held on July 17, 2026. The call was organized with the support of Axis Capital and featured senior management, incl...
Borosil Renewables Denies Any Undisclosed Strategic Deal Despite Stock Surge
Jul 9, 2026
Borosil Renewables Limited has responded to a stock exchange query after its shares surged more than 10% on media reports of potential strategic investment talks. The company said it has no information currently requiring disclosure under Indian l...
Borosil Renewables files SEBI demat compliance certificate for June quarter
Jul 3, 2026
Borosil Renewables Limited has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026, to the BSE and NSE, where its shares are listed. The certif...
Borosil Renewables Clears FY26 Results, Plans Fundraise and New Rooftop Solar Division
May 12, 2026
Borosil Renewables Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditors issuing an unmodified opinion, underscoring confidence in th...
Borosil Renewables Clears FY26 Results, Plans Fundraise and Rooftop Solar Foray
May 12, 2026
Borosil Renewables Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditor issuing an unmodified opinion. The company also plans to enha...
Borosil Renewables Clears FY26 Results, Plans Fundraise and Rooftop Solar Expansion
May 12, 2026
Borosil Renewables Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditor issuing an unmodified opinion, reinforcing confidence in the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.