Borosil Limited reported a 9% year-over-year increase in consolidated revenue to ₹253.6 crores for the first quarter of fiscal 2027, though profit after tax fell 26.5% to ₹12.8 crores amid persistent margin pressure.
The company’s EBITDA declined 12.8% to ₹41.1 crores, with the EBITDA margin contracting to 13.6% from 16.0% in the same period a year earlier. Management noted that the margin decline reflected cost pressures, including a ₹10 crore impact from the West Asia conflict and higher fuel costs, which rose to 5.8% of sales from 2.9% a year prior. Gross profit margins improved to 69.1% from 66.8% in the prior-year quarter.
Revenue growth was led by the glassware segment, which rose 16.8% to ₹65.6 crores, while opalware sales increased 9.8% to ₹83.6 crores. Non-glassware revenue grew 4.2% to ₹98.1 crores. Management announced price increases of 5–7% in April, with effects expected to materialize from the second quarter onward.
Borosil maintained its medium-term revenue CAGR target of 15–20% and a return on capital employed target of 20–24%, despite current margin headwinds. Capital expenditure for the fiscal year is projected at ₹125–150 crores, including committed spending of approximately ₹157 crores across major projects. Depreciation for FY27 is estimated at ₹92 crores.
The company’s solar power investments, totaling 35.8 MWp across three phases, are expected to generate EBITDA-level savings of ₹27–28 crores in FY27. Capacity expansions are underway at facilities in Rajasthan, Gujarat, and Jaipur. The Rajasthan plant’s initial capacity of ~3.6 million units annually for Hydra-branded vacuum-insulated stainless steel products began commercial production in Q1 FY27, with a third production line targeted for Q2 FY27. The Bharuch, Gujarat facility, focused on borosilicate 3.3 glassware, is expected to commence operations by Q3 FY27, replacing ~₹100 crores of sales currently sourced from related parties. The Jaipur furnace expansion aims to increase capacity from 25 TPD to 32 TPD by adding a third forming line.
As of June 30, 2026, Borosil’s total assets stood at ₹1,281.7 crores, with net debt of approximately ₹99 crores and cash and investments of ₹56.2 crores. The company’s market capitalization was approximately ₹2,789 crores, with promoters holding 64.68% and public shareholders accounting for 28.77%.
