Integrated Filing — IndAS



General information about company

Scrip Code 502219
NSE Symbol BORORENEW
MSEI Symbol NOTLISTED
ISIN INE666D01022
Name of company Borosil Renewables Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 12-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 05-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Manufacturer of flat glass
Start date and time of board meeting 12-05-2026   13:20:00
End date and time of board meeting 12-05-2026   14:35:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 43,992.13 1,55,583.50
Other income 893.82 2,493.63
Total income 44,885.95 1,58,077.13
2 Expenses
(a) Cost of materials consumed 8,455.72 34,545.44
(b) Purchases of stock-in-trade 0.07 355.50
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 2,857.58 3,190.14
(d) Employee benefit expense 2,822.84 11,076.65
(e) Finance costs 335.59 1,418.21
(f) Depreciation, depletion and amortisation expense 2,145.36 9,538.52
(f) Other Expenses
1 Power and Fuel 9,345.89 33,665.14
2 Other Expenses 6,872.29 28,648.00
Total other expenses 16,218.18 62,313.14
Total expenses 32,835.34 1,22,437.60
3 Total profit before exceptional items and tax 12,050.61 35,639.53
4 Exceptional items 0.00 (21,340.80)
5 Total profit before tax 12,050.61 14,298.73
6 Tax expense
7 Current tax (5,578.04) 1,512.16
8 Deferred tax 677.63 (11.47)
9 Total tax expenses (4,900.41) 1,500.69
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 16,951.02 12,798.04
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method (39.22) (58.39)
16 Total profit (loss) for period 16,911.80 12,739.65
17 Other comprehensive income net of taxes 71.22 (205.66)
18 Total Comprehensive Income for the period 16,983.02 12,533.99
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 16,913.98 12,908.17
Total profit or loss, attributable to non-controlling interests (2.18) (168.52)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 16,985.12 12,697.87
Total comprehensive income for the period attributable to owners of parent non-controlling interests (2.10) (163.88)
21 Details of equity share capital
Paid-up equity share capital 1,401.89 1,401.89
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 1,49,681.45
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 12.07 9.48
Diluted earnings (loss) per share from continuing operations 12.06 9.46
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 12.07 9.48
Diluted earnings (loss) per share from continuing and discontinued operations 12.06 9.46
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1 The above Audited financial results of the Company for the quarter and year ended 31st March, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 12th May, 2026. The Statutory Auditors have issued audit report with unmodified opinion on the above results. 2 Pursuant to exercise of the options issued under Borosil Employee Stock Option Scheme, 2017”, during the quarter and the year ended 31st March, 2026, the Company has made allotment of Nil and 5,412 Equity Shares of face value of Re. 1/- each fully paid-up respectively, which has resulted into increase in the paid-up Equity Share Capital by Rs. Nil and Rs. 0.05 Lakhs and Securities Premium by Rs. Nil and Rs. 30.28 Lakhs respectively. 3 The Company had on 14th February, 2025, allotted 18,86,793 Equity Shares to Promoter / Members of Promoter group and 78,80,436 Warrants to Non-Promoter Investors, at an issue price of Rs. 530/- per Equity Share / Warrant, on a preferential basis with aggregate issue size of Rs. 51,766.31 Lakhs. As per the terms of the issue, at the time of allotment, the Company had received full consideration towards equity shares and 25% of the amount toward warrants. During the quarter and year ended 31st March, 2026, the Company has received Rs. Nil and Rs. 3,072.65 Lakhs from the warrant holders, respectively, upon exercise of right attached to their warrants by paying balance 75% and accordingly Nil and 7,72,994 fully paid-up equity shares, respectively, of Re. 1/- each have been allotted. Pursuant to above allotment, the paid-up Equity Share Capital has increased by Rs. Nil Lakhs and Rs. 7.73 Lakhs and Securities Premium by Rs. Nil Lakhs and Rs. 4089.14 Lakhs, respectively. The Company has overall raised the funds of Rs. 23,514.23 Lakhs under the aforesaid Preferential Issue. Out of the above proceeds, Rs. 18,500.00 Lakhs utilised towards satisfaction of the liability of the Company arising from Standby Letter of Credit (SBLC) extended on behalf of the Company as a security to the lenders of GMB Glasmanufaktur Brandenburg GmbH (‘GMB’), a step-down subsidiary of the Company and Rs. 5,014.23 Lakhs utilised towards capital expenditure for expansion of the Company’s production capacity, as on 31st March, 2026. There have been no amounting pending for utilization from aforesaid Issues as on 31st March, 2026. 4 The Company had on 17th October, 2025, allotted 69,43,691 equity shares at issue price of Rs. 535/- each to Non-Promoter Investors, under Preferential Issue, and raised funds of Rs. 37,148.75 Lakhs, pursuant to which, during the year ended 31st March, 2026, the paid-up Equity Share Capital has increased by Rs. 69.44 Lakhs and Securities Premium increased by Rs. 37,079.31 Lakhs. Rs. 7,872.16 Lakhs utilised towards capital expenditure for expansion of the Company’s production capacity and General Corporate Purpose, as on 31st March, 2026. The un-utilised funds have been temporarily invested in mutual funds as on 31st March, 2026. 5 During the quarter ended 30th June, 2025, the Company had done an independent assessment of the prevailing situation of GMB, a step-down subsidiary of the Company in Germany and concluded that there was a complete absence of any demand recovery; nor any sign of such recovery in the foreseeable future. Meanwhile, GMB required funding to the extent of about Euro 900 thousand every month just to keep going. Based on the above assessment and above funding requirement, the Managing Director of GMB filed an application on 4th July, 2025 (“Insolvency Application”) before the jurisdictional insolvency court at Cottbus, Germany (“Insolvency Court”) for the commencement of insolvency resolution process, as required under the applicable provisions of German Insolvency Code (Insolvenzordnung – InsO) (“German Insolvency Code”). The insolvency resolution process is currently underway. Amidst the ongoing insolvency proceedings of GMB, Geosphere Glassworks GmbH (Geosphere) had received a claim from a German Government Bank for a capital subsidy granted by it to GMB, due to non-fulfilment of some condition of the subsidy like continuation of operations for prescribed time frame, as Geosphere (as a majority shareholder of GMB) had provided an assurance to provide necessary support to GMB for undertaking the capex and related business operations. Due to lack of sufficient resources with Geosphere to honour this claim, it has voluntarily filed the insolvency application on 22nd December, 2025. Consequent to the initiation of insolvency proceedings of GMB and Geosphere as mentioned above, the Company lost it control over them and accordingly, the Company has deconsolidated their financial statements and given the impact in the above results. Exceptional items in the above results represent the impairment of above subsidiaries assets and recognition of additional liability consequent to insolvency proceedings, estimated by the Management, after giving impact of deconsolidation as mentioned above. 6 Interfloat Corporation (“IF”), a step-down subsidiary of the Company has faced significant challenges in retaining customers following the cessation of annealed production at GMB from 31st December, 2024. At that time, the Company had expected that the customers would continue to source from IF, which would supply from existing stocks as well as source material from the Company. However, fierce competition from East Asia compelled IF customers to seek highly reduced prices for solar glass which were unremunerative. Meanwhile, domestic demand for the Company’s products in India increased substantially at good prices which reduced incentive to export at low prices. This has left IF with a highly reduced sales which was insufficient to pay for its fixed operational costs. Following a review by the Management of IF, it was assessed that there were no clear indicators of demand recovery in the near term that would support a return to profitable operations. 7 Effective from 21st November 2025, the Government of India has consolidated 29 existing labour legislations into a united framework comprising four Labour Codes. On the basis of best available information, the Company has assessed the one time incremental impact of Rs. 89.01 Lakhs in the above financial results for the year ended 31st March 2026. The Company continues to monitor the finalisation of Central / State Government Rules and clarifications in relation to newly introduced Labour Code and would provide appropriate accounting effect on the basis of new developments, if required. 8 The figures for the corresponding previous period/year have been rearranged/regrouped wherever necessary, to make them comparable. The figures for the quarter ended 31st March, 2026 and 31st March, 2025 are the balancing figures between the audited figures of the full financial year and the published year to date figures upto the third quarter of the respective financial year. 9 The Group is engaged only in the business of manufacturing of Flat Glass which is a single segment in terms of Indian Accounting Standard ’Operating Segments (Ind AS-108)'. 10 Revenue from Operations consists of:- (Rs. in Lakhs) Particulars Quarter Ended Year Ended 31.03.2026 31.12.2025 31.03.2025 31.03.2026 31.03.2025 (a)Within India 42,529.89 36,576.37 30,937.83 1,42,153.55 1,02,282.17 (b)Outside India 1,462.24 2,469.80 6,416.00 13,429.95 45,650.72 Total 43,992.13 39,046.17 37,353.83 1,55,583.50 1,47,932.89



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 60,987.84
Capital work-in-progress 10,761.49
Investment property 0.00
Goodwill 0.00
Other intangible assets 415.77
Intangible assets under development 27.95
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 2,887.94
Trade receivables, non-current 0.00
Loans, non-current 43.50
Other non-current financial assets
1 Others 335.02
Total of other non-current financial assets 335.02
Total non-current financial assets 3,266.46
Deferred tax assets (net) 0.00
Other non-current assets
1 Non-Current Tax Assets (net) 5,393.69
2 Other Non-current Assets 9,717.37
Total of other non-current assets 15,111.06
Total non-current assets 90,570.57
2 Current assets
Inventories 12,006.61
Current financial asset
Current investments 57,713.75
Trade receivables, current 12,131.40
Cash and cash equivalents 6,121.33
Bank balance other than cash and cash equivalents 1,649.37
Loans, current 102.85
Other current financial assets
Total of other current financial assets 219.28
Total current financial assets 77,937.98
Current tax assets (net) 0.00
Other current assets
1 Other Current Assets 1,973.94
Total of other current assets 1,973.94
Total current assets 91,918.53
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 1,82,489.10
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,401.89
Other equity 1,49,681.45
Total equity attributable to owners of parent 1,51,083.34
Non controlling interest (120.69)
Total equity 1,50,962.65
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 9,324.03
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
Total of other non-current financial liabilities
Total non-current financial liabilities 9,324.03
Provisions, non-current 0.00
Deferred tax liabilities (net) 2,904.60
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 12,228.63
Current liabilities
Current financial liabilities
Borrowings, current 6,889.77
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,816.42
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3,163.30
Total Trade payable 4,979.72
Other current financial liabilities
1 Other Financial Liabilities 4,197.81
Total of other current financial liabilities 4,197.81
Total current financial liabilities 16,067.30
Other current liabilities 2,353.16
1 Other Current Liabilities 2,353.16
Total of other current liabilities 2,353.16
Provisions, current 856.19
Current tax liabilities (Net) 21.17
Deferred government grants, Current
Total current liabilities 19,297.82
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 31,526.45
Total equity and liabilites 1,82,489.10
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement gains/(losses) on defined benefit plans 28.00 (34.91)
Total Amount of items that will not be reclassified to profit and loss 28.00 (34.91)
2 Income tax relating to items that will not be reclassified to profit or loss 7.72 (13.58)
3 Amount of items that will be reclassified to profit and loss
1 Foreign currency Translation Reserve 50.94 (184.33)
Total Amount of items that will be reclassified to profit and loss 50.94 (184.33)
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 71.22 (205.66)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 14,298.73
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1,418.21
Adjustments for decrease (increase) in inventories 6,143.96
Adjustments for decrease (increase) in trade receivables, current 190.68
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (1,898.95)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 9,538.52
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (252.05)
Adjustments for dividend income 0.00
Adjustments for interest income 259.60
Adjustments for share-based payments 232.96
Adjustments for fair value losses (gains) (876.53)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (733.43)
Other adjustments to reconcile profit (loss) (3.23)
Other adjustments for non-cash items 21,659.69
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 35,160.23
Net cash flows from (used in) operations 49,458.96
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (7,149.89)
Net cash flows from (used in) operating activities 42,309.07
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses (206.73)
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 29,946.36
Other cash payments to acquire equity or debt instruments of other entities 84,121.39
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 166.64
Purchase of property, plant and equipment 19,853.32
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 263.55
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (73,804.89)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 39,220.43
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 200.00
Repayments of borrowings 9,158.23
Payments of lease liabilities 52.85
Dividends paid 0.00
Interest paid 1,664.33
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 3,790.60
Net cash flows from (used in) financing activities 32,335.62
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 839.80
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 839.80
Cash and cash equivalents cash flow statement at beginning of period 5,281.53
Cash and cash equivalents cash flow statement at end of period 6,121.33





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s. Chaturvedi & Shah LLP Yes 30-06-2026