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Borosil Renewables

₹521.2 -20.2 | 3.7%

Market Cap ₹6803 Cr.

Stock P/E 603.3

P/B 7.4

Current Price ₹521.2

Book Value ₹ 70.4

Face Value 1

52W High ₹667.4

Dividend Yield 0%

52W Low ₹ 391.6

Overview Inc. Year: 1962Industry: Glass

Borosil Renewables Ltd engages in the manufacture and sale of flat glass merchandise in India and across the world. It gives clear patterned glass and low iron solar glass for numerous programs in photovoltaic panels, flat plate collectors, and greenhouses. The corporation formerly referred to as Borosil Glass Works Ltd and changed its name to Borosil Renewables Ltd in February 2020. Borosil Renewables Ltd was founded in 1962 and is primarily based in Mumbai, India.

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Borosil Renewables Share Price

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Peer Comparison

Borosil Renewables Quarterly Results

#(Fig in Cr.) Jun 2019 Sep 2019 Dec 2019 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 173 232 266 170 169 246 309 354 402 330
Other Income 7 3 5 3 2 10 5 8 5 4
Total Income 179 235 270 173 171 255 314 362 406 334
Total Expenditure 155 201 227 122 127 227 275 328 369 310
Operating Profit 24 34 44 51 44 28 39 34 37 24
Interest 2 3 4 0 0 2 5 9 10 7
Depreciation 12 15 17 11 11 13 20 32 31 35
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 32 0
Profit Before Tax 10 17 23 40 33 14 14 -7 29 -18
Provision for Tax 2 3 6 10 9 8 4 5 -1 -2
Profit After Tax 8 14 17 30 24 6 11 -12 30 -16
Adjustments 1 2 2 -0 -0 -1 -0 3 -5 0
Profit After Adjustments 9 16 19 30 24 5 10 -8 25 -16
Adjusted Earnings Per Share 1 1.7 2.1 2.3 1.9 0.4 0.8 -0.6 1.9 -1.2

Borosil Renewables Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023 TTM
Net Sales 156 326 415 557 633 762 894 1395
Other Income 41 66 39 43 31 39 20 22
Total Income 197 392 454 600 663 801 914 1416
Total Expenditure 147 296 395 497 543 660 751 1282
Operating Profit 50 96 58 103 120 141 163 134
Interest 0 2 4 8 7 6 8 31
Depreciation 4 18 21 32 37 45 54 118
Exceptional Income / Expenses -4 -10 0 91 -2 0 0 32
Profit Before Tax 41 65 36 156 76 92 101 18
Provision for Tax 5 15 6 19 27 32 30 6
Profit After Tax 37 50 29 137 49 60 71 13
Adjustments 2 -1 -4 -9 -4 -6 -1 -2
Profit After Adjustments 39 49 25 128 45 54 70 11
Adjusted Earnings Per Share 3.3 4.1 2.7 13.9 4.9 5.9 5.3 0.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 17% 17% 22% 0%
Operating Profit CAGR 16% 17% 11% 0%
PAT CAGR 18% -20% 7% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 17% 31% 19% 35%
ROE Average 8% 7% 9% 8%
ROCE Average 9% 10% 11% 10%

Borosil Renewables Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023
Shareholder's Funds 659 698 617 765 816 848 919
Minority's Interest 0 24 35 56 60 77 23
Borrowings 1 19 29 16 9 26 319
Other Non-Current Liabilities 3 4 11 15 17 11 48
Total Current Liabilities 30 71 140 137 164 226 322
Total Liabilities 693 817 832 989 1065 1189 1632
Fixed Assets 173 264 334 306 381 375 977
Other Non-Current Assets 310 242 163 252 211 332 99
Total Current Assets 210 311 334 368 470 482 557
Total Assets 693 817 832 989 1065 1189 1632

Borosil Renewables Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023
Opening Cash & Cash Equivalents 4 7 4 6 6 11 11
Cash Flow from Operating Activities 1 24 32 43 103 -25 -6
Cash Flow from Investing Activities 8 -5 162 20 -67 -26 -241
Cash Flow from Financing Activities -8 -22 -193 -64 -31 40 238
Net Cash Inflow / Outflow 1 -3 2 -1 6 -10 -10
Closing Cash & Cash Equivalent 5 4 6 6 11 1 126

Borosil Renewables Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2023
Earnings Per Share (Rs) 3.27 4.11 2.67 13.87 4.89 5.9 5.34
CEPS(Rs) 3.38 5.71 5.41 18.33 9.31 11.38 9.55
DPS(Rs) 2 2.5 2.5 2.5 2.5 0.65 0
Book NAV/Share(Rs) 54.85 58.04 66.8 82.84 88.23 91.57 70.35
Core EBITDA Margin(%) 5.89 8.76 4.65 10.45 14.08 13.41 15.97
EBIT Margin(%) 26.93 20.11 9.25 28.41 13.01 12.86 12.17
Pre Tax Margin(%) 26.61 19.46 8.41 27.06 11.93 12.06 11.3
PAT Margin (%) 23.71 14.98 6.89 23.72 7.73 7.88 7.9
Cash Profit Margin (%) 26.1 20.48 11.82 29.35 13.52 13.81 13.94
ROA(%) 5.33 6.66 3.54 15.03 4.78 5.33 5.01
ROE(%) 5.61 7.41 4.43 19.8 6.22 7.22 8.01
ROCE(%) 6.36 9.69 5.4 21.15 9.74 10.71 9.47
Receivable days 68.11 44.6 56.26 54.16 62.3 57.18 42.58
Inventory Days 71.07 49.13 61.93 56.38 52.59 67.04 93.07
Payable days 22.71 33.16 49.32 57.41 76.35 81.14 167.73
PER(x) 6.92 9.96 25.29 11.25 42.32 35.85 77.21
Price/Book(x) 0.41 0.71 1.01 1.88 2.35 2.31 5.86
Dividend Yield(%) 2.21 1.53 0.93 0.4 0.3 0.31 0
EV/Net Sales(x) 1.71 1.6 1.72 2.69 3.08 2.7 6.33
EV/Core EBITDA(x) 5.32 5.42 12.23 14.53 16.23 14.55 34.75
Net Sales Growth(%) 0 108.75 27.44 34.25 13.59 20.39 17.37
EBIT Growth(%) 0 60.68 -42.01 318.94 -49.55 18.43 11.13
PAT Growth(%) 0 35.93 -42.01 369.63 -64.11 22.15 17.7
EPS Growth(%) 0 25.85 -35.09 419.7 -64.74 20.59 -9.53
Debt/Equity(x) 0 0.05 0.16 0.09 0.06 0.13 0.45
Current Ratio(x) 7.09 4.37 2.38 2.68 2.86 2.14 1.73
Quick Ratio(x) 6.07 3.52 1.78 1.99 2.32 1.29 0.91
Interest Cover(x) 84.4 31.29 10.99 21.09 12.12 16.1 13.97
Total Debt/Mcap(x) 0 0.07 0.16 0.05 0.03 0.06 0.08

Borosil Renewables Shareholding Pattern

# Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Promoter 61.74 61.73 61.69 61.65 61.65 61.64 61.62 61.61 61.6 61.6
FII 5.03 5.44 4.79 4.87 5.81 5.96 6.18 6.3 4.4 4.48
DII 0.04 0.06 0.06 0.19 0.14 0.11 0.11 0.07 0.46 0.74
Public 33.18 32.77 33.46 33.3 32.4 32.3 32.1 32.02 33.53 33.18
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7% over the last 3 years.
  • Debtor days have increased from 81.14 to 167.73days.
  • Stock is trading at 7.4 times its book value.
  • The company has delivered a poor profit growth of 7% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Borosil Renewables News

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