Borosil Renewables Ltd - Stock Valuation and Financial Performance

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

Borosil Renewables Share Price

502.20 0.05 0.01%
as on 18-May'24 12:50

DeciZen - make an informed investing decision on Borosil Renewables

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Borosil Renewables stock performance -

mw4me loader
P/E Ratio (SA):
768.37
Market Cap:
6,555 Cr.
52-wk low:
391.6
52-wk high:
667.4

Is Borosil Renewables Ltd an attractive stock to invest in?

1. Is Borosil Renewables Ltd 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.

2. Is Borosil Renewables Ltd 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.

3. Is Borosil Renewables Ltd 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.

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Borosil Renewables Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 4.1%4.8%5%8.3%5.3%3.6%1.4%17%20.1%8%-
Value Creation
Index
-0.7-0.7-0.6-0.4-0.6-0.7-0.90.20.5-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 156175222267296217271502644688946
Sales YoY Gr.-12.5%26.7%20.2%10.8%-26.7%25.1%85.2%28.3%6.8%-
Adj EPS 2.22.73.66.44.62.30.16.912.56.30.7
YoY Gr.-25.1%35.3%75.6%-28.3%-49.3%-97%9685.7%81.9%-49.6%-
BVPS (₹) 54.75868.983.588.935.528.347.160.167.167.1
Adj Net
Profit
25.932.433.659.142.321.50.889.1162828
Cash Flow from Ops. 0.83.56.225.329.9-4926.216117325.6-
Debt/CF from Ops. 1.10.65.300-0.93.50.50.914.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 17.9%18.4%36.4%6.8%
Adj EPS 12.7%6.5%347.7%-49.6%
BVPS2.3%-5.5%33.3%11.7%
Share Price 36.4% 21.2% 21.9% -1.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
44.858.45.33.70.218.923.29.91
Op. Profit
Mgn %
6.34.94.77.11415.813.939.33822.913
Net Profit
Mgn %
16.618.515.122.114.39.90.317.725.211.90.9
Debt to
Equity
000.1000.10.30.10.20.4-
Working Cap
Days
32127523922526332218111111817865
Cash Conv.
Cycle
11711610290831037950457021

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 36.40%

Net Profit is growing at healthy rate in last 3 years 347.67%

Sales growth is good in last 4 quarters at 39.82%

Return on Equity has declined versus last 3 years average to 1.00%

Latest Financials - Borosil Renewables Ltd.

Standalone Consolidated
TTM EPS (₹) 0.7 0.9
TTM Sales (₹ Cr.) 946 1,395
BVPS (₹.) 67.1 70.4
Reserves (₹ Cr.) 862 906
P/BV 7.49 7.13
PE 768.37 581.42
From the Market
52 Week Low / High (₹) 391.55 / 667.40
All Time Low / High (₹) 0.14 / 833.00
Market Cap (₹ Cr.) 6,555
Equity (₹ Cr.) 13.1
Face Value (₹) 1
Industry PE 35.7

Management X-Ray of Borosil Renewables:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Borosil Renewables

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales156175222267296217271502644688
Operating Expenses 147168239248256183235305400531
Manufacturing Costs445796787118162228
Material Costs901011261441495684108114149
Employee Cost 17202527322726354561
Other Costs 35438370663438457893
Operating Profit 97-1719393436197244157
Operating Profit Margin (%) 6.0%4.2%-7.6%7.1%13.3%15.6%13.4%39.3%37.9%22.9%
Other Income 41663835368452119
Interest 0011007837
Depreciation 455651832424250
Exceptional Items -4-4091000000
Profit Before Tax 42641513870231153220119
Tax 514-1112401635431
Profit After Tax 374916127462409016689
PAT Margin (%) 23.8%28.0%7.0%47.5%15.7%10.9%0.2%17.8%25.7%12.9%
Adjusted EPS (₹)3.14.11.713.75.02.60.06.912.76.8
Dividend Payout Ratio (%)16%15%37%5%12%25%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 657697636772821328323612783876
Share Capital 33222911131313
Reserves 654694634769819318312599770863
Minority Interest0000000000
Debt123300428361140325
Long Term Debt10000247760140266
Short Term Debt0233001971059
Trade Payables691014321017223344
Others Liabilities 2741272634457087100147
Total Liabilities 6917507058138874254947831,0551,391

Fixed Assets

Gross Block1821701631161191784214384331,139
Accumulated Depreciation101459136176118155205
Net Fixed Assets173156158107106117345320278935
CWIP 665541251429715
Investments 38044537545751146728021412
Inventories303640403937473869174
Trade Receivables29323744702441726055
Cash Equivalents 557410549187
Others Assets687083155147724959120194
Total Assets 6917507058138874254947831,0551,391

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1462530-492616117326
PBT 42641513870581153220119
Adjustment -29-491-103-26438472639
Changes in Working Capital -6-4-23-0-961-15-6-117
Tax Paid -5-7-8-13-14-16-15-23-66-15
Cash Flow From Investing Activity 621576-17-44-61-332-260-221
Capex -7237-106959-155-105-27-373-314
Net Investments 59-58195-45-3214139-306111205
Others 1923-28-18-44-30402-112
Cash Flow From Financing Activity -8-5-162-34-7883517296185
Net Proceeds from Shares 000000020244
Net Proceeds from Borrowing 00000062-980145
Interest Paid 00-1-10-2-8-7-6-19
Dividend Paid -5-7-160-6-7-7000
Others -22-145-32-197-12-141855
Net Cash Flow -101-26-5119-10
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)5.787.262.34185.824.10.1419.1723.7710.67
ROCE (%)6.559.392.3719.318.854228.8927.2211.6
Asset Turnover Ratio0.230.240.310.350.350.330.590.790.70.56
PAT to CFO Conversion(x)0.030.080.380.20.65-2.04N/A1.791.040.29
Working Capital Days
Receivable Days68635656707944413730
Inventory Days71696255496456313065
Payable Days302626315713760678893

Borosil Renewables Ltd Stock News

Borosil Renewables Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Borosil Renewables on 18-May-2024 12:50 is ₹502.2.
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 18-May-2024 12:50 the market cap of Borosil Renewables stood at ₹6,555.
The latest P/E ratio of Borosil Renewables as of 18-May-2024 12:50 is 768.4.
The latest P/B ratio of Borosil Renewables as of 18-May-2024 12:50 is 7.49.
The 52-week high of Borosil Renewables is ₹667.4 and the 52-week low is ₹391.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Borosil Renewables is ₹946.2 ( 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).

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