Borosil Renewables Ltd.
Q4FY22 Quarterly Result Announced for Borosil Renewables Ltd.
Borosil Renewables declares Q4FY22 result:
- During the quarter, the Company achieved Net Sales of INR 179.1 Cr., a decrease of 8% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the quarter were lower by about 14% compared to the corresponding quarter in the previous year as the higher volumes helped contain the decline in sales value to 8%.
- Export Sales during Q4FY22 (including to customers in SEZ) were INR 39.3 Cr. (INR 38.9 Cr. in the corresponding quarter), comprising 21.9% of the turnover.
- EBITDA during the quarter was INR 62.4 Cr. corresponding to an EBITDA margin of 34.9% as compared to a margin of 55% in Q4FY21. The lower EBITDA margin was mainly due to lower ex-factory realizations and higher input costs as compared to the corresponding quarter.
- During the year, the company recorded Net Sales of INR 644.2 Cr., an increase of 28% over the previous year. The average ex-factory prices of tempered solar glass during the year were about INR 133 per mm as compared to INR 119 per mm in the previous year.
- Export Sales during the year FY22 (including to customers in SEZ) were INR 171 Cr. ( INR 110 Cr. in the corresponding period), comprising 26.6% of the turnover.
- EBITDA during the year was INR 265 Cr. corresponding to an EBITDA margin of 41.1% as compared to a margin of 40.4% in the previous year. The higher EBITDA margin was led primarily by better ex-factory realizations even after absorbing higher landed cost of inputs, higher production and state Government subsidies (INR 9.7 Cr).
- PAT during the year was INR 165.9 Cr. corresponding to an PAT margin of 25.7% as compared to a PAT margin of 17.8% in FY21.