{"id":6290,"date":"2025-02-17T13:13:14","date_gmt":"2025-02-17T07:43:14","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=6290"},"modified":"2025-02-17T13:13:15","modified_gmt":"2025-02-17T07:43:15","slug":"borosil-renewables-shares-hit-5-lower-circuit-as-q3-losses-deepen","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/borosil-renewables-shares-hit-5-lower-circuit-as-q3-losses-deepen\/","title":{"rendered":"Borosil Renewables Shares Hit 5% Lower Circuit as Q3 Losses Deepen"},"content":{"rendered":"\n<p>Shares of Borosil Renewables were locked lower by 5 percent on 17 February after its wider quarter-ended December quarter loss announcement. The company&#8217;s net loss surged to \u20b930 crore, compared to its loss of \u20b915.90 crore reported by it within the same quarter of last year.<\/p>\n\n\n\n<p>The company&#8217;s bottom-line was impacted by rising input costs, poor operating performance, and price pressures. It had reported negative EBITDA of \u20b91.1 crore versus its previous-year reported EBITDA of \u20b920.60 crore. The decline in profitability is actually on account of declining selling realisations of its domestic business.<\/p>\n\n\n\n<p>Despite the loss, top-line of Borosil Renewables grew by 9.4% to \u20b9361.5 crore versus \u20b9330.4 crore of corresponding quarter of last financial year<\/p>\n\n\n\n<p>At 12:38 PM, shares of Borosil Renewables were quoting on NSE at \u20b9475.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Imports Impact and Pricing Pressure<\/strong><\/h3>\n\n\n\n<p>The company stated that the 10% basic customs duty (BCD) imposed on imports from October 2024 had no significant impact on the prices of imported glass. This was due to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A sharp 32% drop in solar glass FOB (Free on Board) prices from China between June and September 2024.<\/li>\n\n\n\n<li>Lower ocean freight costs in Q3, further reducing import costs.<\/li>\n<\/ul>\n\n\n\n<p>As a result, cheap imports from China and Vietnam lowered domestic prices, putting pressure on Indian manufacturers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Decline in Export Sales<\/strong><\/h3>\n\n\n\n<p>Borosil Renewables&#8217; sales on the export market, including Special Economic Zone supplies, were at \u20b916.02 crore in Q3, or 6% of revenues overall. It is lower compared to \u20b934.39 crore of the previous quarter, where company revenues had seen 13% coming through exports.<\/p>\n\n\n\n<p>The company also indicated that demand within its most important markets of sale decreased due to restricted domestic manufacturing and increased importation of lower-priced Chinese photovoltaic modules.<\/p>\n\n\n\n<p>With pricing challenges and import pressures continuing, there will likely be immediate challenges facing the company, though there is long-term potential of India&#8217;s renewables market.<\/p>\n\n\n\n<p>Do you have a news tip for Lakshmishree reporters? Please email us at <strong><a>media@lakshmishree.com<\/a><\/strong>.<\/p>\n\n\n\n<p><sup><sub>Source: Moneycontrol.<\/sub><\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Borosil Renewables were locked lower by 5 percent on 17 February after its wider quarter-ended December quarter loss announcement. The company&#8217;s net loss surged to \u20b930 crore, compared to its loss of \u20b915.90 crore reported by it within the same quarter of last year. The company&#8217;s bottom-line was impacted by rising input costs, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[1022],"class_list":["post-6290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-borosil-renewables-q3"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=6290"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6290\/revisions"}],"predecessor-version":[{"id":6292,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6290\/revisions\/6292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/6291"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=6290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=6290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=6290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}