5022192025-10-012025-12-315022192025-04-012025-12-315022192025-10-012025-12-31in-capmkt:OtherExpenses1Member5022192025-10-012025-12-31in-capmkt:OtherExpenses2Member5022192025-04-012025-12-31in-capmkt:OtherExpenses1Member5022192025-04-012025-12-31in-capmkt:OtherExpenses2Member5022192025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15022192025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15022192025-10-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15022192025-04-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares502219BORORENEWNOTLISTEDINE666D01022Borosil Renewables LimitedMain BoardEquity2025-04-012026-03-312026-01-282026-01-21INRLakhsQuarterlyThird quarterSingle segmentManufacturer of flat glass2026-01-2817:20:002026-01-2819:10:00Not applicable2025-10-012025-12-31UnauditedConsolidated39046170007901200039836290008534710002751300047000000241846000301450002215680001504358000292590100010577280001665630001224291000261894000-4131900022057500001003716000000-18190001001897000-97867000904030000100098900090800090311500091500014018900017.27.15007.27.151 The above un-audited financial results of the Company for the quarter and nine months ended 31st December, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 28th January, 2026. The Statutory Auditors of the Company have carried out a Limited Review of the above results and have issued an unmodified review report. <BR> <BR> 2 Pursuant to exercise of the options issued under "Borosil Employee Stock Option Scheme, 2017”, during the quarter and the nine months ended 31st December, 2025, 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. <BR> <BR> 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 nine months ended 31st December, 2025, the Company has received Rs. 112.50 Lakhs 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 28,301 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. 0.28 Lakhs and Rs. 7.73 Lakhs and Securities Premium by Rs. 149.71 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. <BR> <BR> 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. 2,959.74 Lakhs utilised towards capital expenditure for expansion of the Company’s production capacity, as on 31st December, 2025. Out of the balance funds of Rs. 2,054.49 Lakhs available for utilisation, Rs. 1,942.00 Lakhs have been temporarily invested in mutual funds and remaining amount is lying in bank account, as on 31st December, 2025. <BR> <BR> 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 quarter ended 31st December, 2025, the paid-up Equity Share Capital has increased by Rs. 69.44 Lakhs and Securities Premium increased by Rs. 37,079.31 Lakhs. Pending actual utilisation of funds towards the objects, the un-utilised funds have been temporarily invested in mutual funds as on 31st December, 2025. <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> 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. <BR> <BR> Exceptional items in the above results represent the impairment of Group's exposure in the GMB and Geosphere after giving impact of deconsolidation as mentioned above. <BR> <BR> 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. <BR> <BR> 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 quarter and nine months ended 31st December 2025. 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. <BR> <BR> 8 The figures for the corresponding previous periods/year have been rearranged/regrouped, wherever necessary, to make them comparable. <BR> <BR> 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)'. <BR> 10 Revenue from Operations consists of:- <BR> (Rs. in Lakhs) <BR> Particulars Quarter Ended Nine Months Ended Year Ended <BR> 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 <BR> (a) Within India 36,576.37 33,283.70 25,927.63 99,623.66 71,344.33 1,02,282.17 <BR> (b) Outside India 2,469.80 4,603.80 10,221.07 11,967.71 39,234.73 45,650.72 <BR> Total 39,046.17 37,887.50 36,148.70 1,11,591.37 1,10,579.06 1,47,932.89 <BR> 2025-04-012025-12-31UnauditedConsolidated111591370001599810001131911800026089720003554300033256000825381000108262000739316000460949600089602260002358892000-2134080000224812000709020000-689100006401100000-415298000000-1917000-417215000-27688000-444903000-400581000-16634000-428725000-161780001401890001-2.97-2.9700-2.97-2.97Power and Fuel821257000Other Expenses683101000Power and Fuel2431925000Other Expenses2177571000Re-measurement gains/(losses) on defined benefit plans-8112000-8112000Re-measurement gains/(losses) on defined benefit plans-6291000-6291000-2124000-2130000Foreign currency Translation Reserve-91879000-91879000Foreign currency Translation Reserve-23527000-2352700000-97867000-27688000