Green Energy Stock in Focus: Borosil Renewables

Borosil Renewables Limited is capturing investor attention with its financial performance and strategic advancements in sustainable energy solutions.

May 29, 2024. By Abha Rustagi

As the global economy increasingly acknowledges the necessity of addressing climate change and reducing carbon emissions, green energy stocks are taking center stage.

In this context, Borosil Renewables Limited is capturing investor attention with its financial performance and strategic advancements in sustainable energy solutions.

Currently trading between INR 475.25 and INR 483.90, Borosil Renewables has demonstrated significant growth. The company’s revenue from operations for FY24 grew by more than 53 percent to INR 1,369.28 crore, compared to INR 894.03 crore in FY23. However, the renewable energy firm noted that revenue from its overseas subsidiaries fell due to a demand slowdown in the March quarter.

The solar glass manufacturer faced challenges in the March quarter, posting a loss of INR 53.32 crore compared to a net profit of INR 10.5 crore in the same quarter of the preceding fiscal.

Additionally, Borosil Renewables reported a negative EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of INR 20.82 crore in the fourth quarter of FY24, down from INR 39.08 crore in the corresponding quarter of the previous fiscal.

The decline in EBITDA was attributed to lower selling prices in India due to dumping and reduced production in subsidiaries owing to low demand in European markets.

Borosil Renewables currently has a market cap of INR 6,606 crore, with a 52-week high/low of INR 669.35 and INR 391.05, respectively.

The company's future prospects look promising and position Borosil Renewables as a key player in the renewable energy market.

For investors focusing on the green energy market, Borosil Renewables is certainly a company worth watching. Stay tuned to Energetica India for the latest updates on Borosil Renewables and other promising green energy stocks shaping the future of sustainable investing.

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Solar glass manufacturing