Is Borosil Renewables a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Borosil Renewables Ltd is a below average quality company .

Is Borosil Renewables undervalued or overvalued?

The key valuation ratios of Borosil Renewables Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Borosil Renewables share price return in the past 10 years?

Borosil Renewables Ltd share price has appreciated 26.5% annually (CAGR) over the past ten years.

Is Borosil Renewables a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Borosil Renewables Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Borosil Renewables Ltd - Stock Valuation and Financial Performance

Name: Borosil Renewables
Brand: Borosil Renewables

BSE: 502219 | NSE: BORORENEW | Glass | Small Cap

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Borosil Renewables Share Price

₹500.35 -3.20 -0.64%
as on 06-Sep'24 16:01

10 Year X-Ray of Borosil Renewables:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	9.4%	2.4%	19.3%	8.9%	4%	2%	28.9%	27.2%	11.6%	0.4%	-
Value Creation Index ⓘ	-0.3	-0.8	0.4	-0.4	-0.7	-0.9	1.1	1.0	-0.1	-1.0	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	175	222	267	296	217	271	502	644	688	986	989
Sales YoY Gr.	-	26.7%	20.2%	10.8%	-26.7%	25.1%	85.2%	28.3%	6.8%	43.3%	-
Adj EPS ⓘ	2.7	3.6	6.4	4.6	2.3	0.1	6.9	12.5	6.3	-1.2	-2.6
YoY Gr.	-	35.3%	75.6%	-28.3%	-49.3%	-97%	9685.7%	81.9%	-49.6%	-119.6%	-
BVPS (₹) ⓘ	58	68.9	83.5	88.9	35.5	28.3	47.1	60.1	67.1	65.9	65.6
Adj Net Profit ⓘ	32.4	33.6	59.1	42.3	21.5	0.8	89.1	162	82	-16	-34
Cash Flow from Ops. ⓘ	3.5	6.2	25.3	29.9	-49	26.2	161	173	25.6	92.4	-
Debt/CF from Ops. ⓘ	0.6	5.3	0	0	-0.9	3.5	0.5	0.9	14.1	3.8	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	21.1%	35.4%	25.2%	43.3%
Adj EPS ⓘ	-191.7%	-188.1%	-156.4%	-119.6%
BVPSⓘ	1.4%	13.2%	11.9%	-1.9%
Share Price	26.5%	26.5%	19.6%	14.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	4.8	5	8.4	5.3	3.7	0.2	18.9	23.2	9.9	-1.8	-3.9
Op. Profit Mgn % ⓘ	4.9	4.7	7.1	14	15.8	13.9	39.3	38	22.9	9.9	7.5
Net Profit Mgn % ⓘ	18.5	15.1	22.1	14.3	9.9	0.3	17.7	25.2	11.9	-1.6	-3.4
Debt to Equity ⓘ	0	0.1	0	0	0.1	0.3	0.1	0.2	0.4	0.4	-
Working Cap Days ⓘ	275	239	225	263	322	181	111	118	178	153	61
Cash Conv. Cycle ⓘ	116	102	90	83	103	79	50	45	70	71	21

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 25.21%

Sales growth is good in last 4 quarters at 34.33%

Return on Equity is Poor

Latest Financials - Borosil Renewables Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-2.6	-4
TTM Sales (₹ Cr.)	989	1,386
BVPS (₹.) ⓘ	65.6	65.7
Reserves (₹ Cr.) ⓘ	844	844
P/BV ⓘ	7.61	7.60
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	391.55 / 667.40
All Time Low / High (₹)	0.14 / 833.00
Market Cap (₹ Cr.)	6,519
Equity (₹ Cr.)	13.1
Face Value (₹)	1
Industry PE ⓘ	36.2

Management X-Ray of Borosil Renewables:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Borosil Renewables

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Borosil Renewables

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	175	222	267	296	217	271	502	644	688	986
Operating Expenses ⓘ	168	239	248	256	183	235	305	400	531	889
Manufacturing Costs	4	5	7	9	67	87	118	162	228	420
Material Costs	101	126	144	149	56	84	108	114	149	293
Employee Cost	20	25	27	32	27	26	35	45	61	74
Other Costs ⓘ	43	83	70	66	34	38	45	78	93	102
Operating Profit ⓘ	7	-17	19	39	34	36	197	244	157	97
Operating Profit Margin (%)	4.2%	-7.6%	7.1%	13.3%	15.6%	13.4%	39.3%	37.9%	22.9%	9.8%
Other Income ⓘ	66	38	35	36	8	4	5	21	19	22
Interest ⓘ	0	1	1	0	0	7	8	3	7	26
Depreciation ⓘ	5	5	6	5	18	32	42	42	50	114
Exceptional Items ⓘ	-4	0	91	0	0	0	0	0	0	0
Profit Before Tax ⓘ	64	15	138	70	23	1	153	220	119	-21
Tax ⓘ	14	-1	11	24	0	1	63	54	31	-5
Profit After Tax	49	16	127	46	24	0	90	166	89	-17
PAT Margin (%)	28.0%	7.0%	47.5%	15.7%	10.9%	0.2%	17.8%	25.7%	12.9%	-1.7%
Adjusted EPS (₹)	4.1	1.7	13.7	5.0	2.6	0.0	6.9	12.7	6.8	-1.3
Dividend Payout Ratio (%)	15%	37%	5%	12%	25%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	697	636	772	821	328	323	612	783	876	860
Share Capital ⓘ	3	2	2	2	9	11	13	13	13	13
Reserves ⓘ	694	634	769	819	318	312	599	770	863	847
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	2	33	0	0	42	83	61	140	325	270
Long Term Debt	0	0	0	0	24	77	60	140	266	235
Short Term Debt	2	33	0	0	19	7	1	0	59	35
Trade Payables	9	10	14	32	10	17	22	33	44	49
Others Liabilities ⓘ	41	27	26	34	45	70	87	100	147	170
Total Liabilities ⓘ	750	705	813	887	425	494	783	1,055	1,391	1,349
Fixed Assets
Gross Block	170	163	116	119	178	421	438	433	1,139	1,154
Accumulated Depreciation	14	5	9	13	61	76	118	155	205	318
Net Fixed Assetsⓘ	156	158	107	106	117	345	320	278	935	836
CWIP ⓘ	6	5	5	4	125	1	4	297	15	9
Investmentsⓘ	445	375	457	511	46	7	280	214	12	69
Inventories	36	40	40	39	37	47	38	69	174	147
Trade Receivables	32	37	44	70	24	41	72	60	55	103
Cash Equivalents	5	7	4	10	5	4	9	18	7	33
Others Assetsⓘ	70	83	155	147	72	49	59	120	194	154
Total Assets ⓘ	750	705	813	887	425	494	783	1,055	1,391	1,349

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	4	6	25	30	-49	26	161	173	26	92
PBT ⓘ	64	15	138	70	58	1	153	220	119	-21
Adjustment ⓘ	-49	1	-103	-26	4	38	47	26	39	116
Changes in Working Capital ⓘ	-4	-2	3	-0	-96	1	-15	-6	-117	2
Tax Paid ⓘ	-7	-8	-13	-14	-16	-15	-23	-66	-15	-4
Cash Flow From Investing Activity ⓘ	2	157	6	-17	-44	-61	-332	-260	-221	-86
Capex	37	-10	69	59	-155	-105	-27	-373	-314	-78
Net Investments	-58	195	-45	-32	141	39	-306	111	205	0
Others ⓘ	23	-28	-18	-44	-30	4	0	2	-112	-8
Cash Flow From Financing Activityⓘ	-5	-162	-34	-7	88	35	172	96	185	8
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	202	4	4	1
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	62	-9	80	145	15
Interest Paid ⓘ	0	-1	-1	0	-2	-8	-7	-6	-19	-32
Dividend Paid ⓘ	-7	-16	0	-6	-7	-7	0	0	0	0
Others ⓘ	2	-145	-32	-1	97	-12	-14	18	55	24
Net Cash Flow ⓘ	0	1	-2	6	-5	1	1	9	-10	14

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	7.26	2.34	18	5.82	4.1	0.14	19.17	23.77	10.67	-1.9
ROCE (%)	9.39	2.37	19.31	8.85	4	2	28.89	27.22	11.6	0.4
Asset Turnover Ratio	0.24	0.31	0.35	0.35	0.33	0.59	0.79	0.7	0.56	0.72
PAT to CFO Conversion(x)	0.08	0.38	0.2	0.65	-2.04	N/A	1.79	1.04	0.29	N/A
Working Capital Days
Receivable Days	63	56	56	70	79	44	41	37	30	29
Inventory Days	69	62	55	49	64	56	31	30	65	59
Payable Days	26	26	31	57	137	60	67	88	93	58

Borosil Renewables Ltd Stock News

Borosil Renewables Ltd FAQs

What is the share price of Borosil Renewables?

Company share prices are keep on changing according to the market conditions. The closing price of Borosil Renewables on 06-Sep-2024 16:01 is ₹500.4.

What is the market cap of Borosil Renewables?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Sep-2024 16:01 the market cap of Borosil Renewables stood at ₹6,519.1.

What is the P/E ratio of Borosil Renewables?

The latest P/E ratio of Borosil Renewables as of 06-Sep-2024 16:01 is 0.00.

What is the P/B ratio of Borosil Renewables?

The latest P/B ratio of Borosil Renewables as of 06-Sep-2024 16:01 is 7.61.

What is the 52-week high and low of Borosil Renewables?

The 52-week high of Borosil Renewables is ₹667.4 and the 52-week low is ₹391.6.

What is the TTM revenue of Borosil Renewables?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Borosil Renewables is ₹989.5 ( Cr.) .

About Borosil Renewables Ltd

Borosil Renewables Limited is a public limited Company domiciled and incorporated in India. The company is engaged in manufacturing of Low Iron textured Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses.

It is the first and only solar glass manufacturer in India. A part of the Borosil group which is well-known for the brand “BOROSIL” that manufactures a range of lab ware, scientific ware, and consumer ware products.

The registered office of the Company is situated at Bandra Kurla Complex, Bandra (E), Mumbai.

Business area of the company

The company is engaged in the production of low iron textured solar glass used in the manufacturing of solar photovoltaic modules in the power sector.

Product Portfolio

Low Iron Textured Solar Glass
Shakti: Solar Glass in Matt-Matt Finish
2 mm Fully Tempered Solar Glass
NoSbEra: Antimony-Free Solar Glass
Selene: Antiglare Solar Glass
Solar Glass with Anti-Refelective Coating
Solar Glass with Anti-Soiling Coating
Grid Printed backglass for glass-glass bifacial solar PV modules

History and major events

1960: Window Glass Limited is incorporated in Kolkata by the Kheruka Family.
1962: Borosil is born as public limited company to acquire the existing business of Industrial and Engineering Apparatus Company Pvt. Ltd.. set up by Dr. Lele.
1963: Corning Glass Works, USA joins Borosil as a technical and financial collaborator.
1988: Kheruka Family takes over Borosil Glass Works Ltd. from Corning Glass.
1991: Gujarat Borosil Ltd., a subsidiary of Borosil group, set up a manufacturing facility for architectural glass in Bharuch, Gujarat.
2010: Gujarat Borosil Ltd.. sets up India’s first and only solar glass production line with a capacity of 180 TPD.
2013: Introduced Anti-Reflective coating for solar glass, a first of its kind in India.
2014: Developed the world’s first Antimony-free solar glass.
2017: Developed the world’s first fully tempered solar glass in 2mm thickness.
2019: Capacity expansion to 450 TPD (equivalent 2.8GW/annum), Introduction of Shakti: Solar Glass in Matt-Matt Finish and Selene: Antiglare Solar Glass for PV installation near airports.
2020: Amalgamation of Gujarat Borosil Ltd. with Borosil Glass Works Ltd. which was renamed Borosil Renewables Ltd.
2020: National Award 2021 by the Government of Indian for successful Commercialization of Indigenous Technology.
2022: Manufacturing capacity reach to 1000 TPD (equivalent 6GW/annum).
2022: Borosil Renewables Ltd. acquired Interfloat Group, the largest solar manufacturer in Europe.
2024: Aspiring to reach 2100 TPD (equivalent 13GW/annum).