Borosil Renewables Ltd up by 9.53 percent - Traders Corners | Espresso


Espresso shot of the day – Borosil Renewables Ltd up by 9.53 percent

May 04, 2021
Espresso shot of the day – Borosil Renewables Ltd up by 9.53 percent

BOROSIL RENEWABLES LTD 252.85 (+9.53%) BSE – INE666D01022 | 4TH MAY 2021

Borosil Renewables Limited is the first and only solar glass manufacturer in India. The company spotted the opportunity in this segment quite early and commissioned the solar glass manufacturing facility at Bharuch in Indian State of Gujarat in January 2010. Over the last 5 years, the solar PV installations and module production across the world have grown exponentially. In order to cater to the growing demand, Borosil Renewables Limited has recently expanded and more than doubled its existing production capacity of high performance solar glass to 2.4 GW per annum. The company has a strong focus on innovation and known for its pioneering achievements like development of World's First fully tempered 2 mm thick solar glass, solar glass with lowest iron content giving highest glass efficiency, first company in the World to successfully be able to remove the most hazardous substance — “Antimony˜ - from its solar glass etc. Very recently, the company has launched new products like Selene: an Anti-glare solar glass suitable for PV installations near airports, Shakti: a very high efficiency solar glass in matt-matt finish. Amongst the upcoming products with enhanced features is the solar glass with Anti-soiling coating.

Recent Drivers

  • Glassware company Borosil Renewables Limited announced that the family of employees who lose their lives to covid-19 will be given two years’ salary, and the cost of their children’s education will be borne by the company till graduation.
  • On 19th April 2021, Board of Directors of the Company considered and approved expansion plan of the company to raise its production capacity of solar glass by an additional 1000 Tonnes Per Day (TPD) along with all processing capabilities in one or two phases.
  • On 1st April 2021, a top company official of Borosil Renewables Limited said, the sole domestic manufacturer of solar panel glass, is doubling its capacity to 900 tonnes per day with an investment of Rs 500 crore.
  • Borosil Renewables Limited reported a net profit of Rs 10.57 crores for December quarter 2020-21. The company had posted a loss of Rs 87.17 lakhs in the year-ago period.
  • Total income of Borosil Renewables Limited stood at Rs 141.31 crores in the quarter as against Rs 76.11 crores in the same period a year ago.

(Sources: Financial Express, The Economic Times, Livemint)

Technical Force*

  • S&P BSE SmallCap month till date gain up by 0.99%
  • Touched Upper circuit Rs.253.90
  • Spurt in Volume by more than 6.51 times compare to previous vol. 3 months avg volume – 89,541
  • Quantity traded – 4,01,783 Deliverable quantity – 1,77,387 (44.15%)
  • Stock price has jumped more than 640% from one year low level – 33.70, 27 May 2020
  • Daily RSI (14) is crosses central line today
  • 52 week high – 323.25 | 52 week low­­ – 33.70

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Some Key Ratios (Source: BSE)

Market Cap: 3290.27 crores

PE: 122.59

OPM%: 37.03

ROE%: 7.92

Promoters holding: 61.83

Prev. Close: 230.85

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.