About Borosil Renewables Limited

Borosil Renewables Limited, incorporated in 1962, manufactures and sells solar glass used in photovoltaic (PV) modules and related applications. The company operates manufacturing facilities at Jhagadia, Bharuch (Gujarat) and in Tschernitz, Germany, reflecting an India–Europe production footprint. A pioneer in solar glass, Borosil established India’s first and only solar glass production line in 2010, developed the world’s first antimony-free solar glass in 2014, and introduced the world’s first fully tempered 2 mm solar glass in 2017. The portfolio includes low-iron textured solar glass for PV modules and offerings such as Shakti (matt finish) and Selene (anti-glare), alongside newer formats like large-size glasses in 2/3.2 mm and grid-printed 2.0 mm glass for high-efficiency modules.

Borosil Renewables serves customers across 18 Indian states and exports to 23 countries, underscoring a wide market reach from its Indian operations. The Group has 4 subsidiaries (including step-down subsidiaries) following its European expansion, which included acquiring Interfloat Group—then the largest solar glass manufacturer in Europe—in 2022. 

Borosil Renewables Limited Milestone

Key milestones include the amalgamation of Gujarat Borosil Ltd. into Borosil Glass Works Ltd. and renaming as Borosil Renewables Ltd. (2020), recognition with the Government of India’s National Award 2021, and expansion of Indian capacity to 1,000 TPD with introduction of large-size formats (2023–2024).

Borosil Renewables Limited’s Business Segments

• Segment/vertical: Manufacturing accounts for 100% of turnover; within products, low-iron textured solar glass accounts for 100% of turnover.
• Geography: Exports contributed 18.45% of turnover during the year.

Borosil Renewables Limited Key Management

• Pradeep Kumar Kheruka – Executive Chairman
• Shreevar Kheruka – Vice Chairman
• Ashok Kumar Jain – Whole-Time Director
• Sunil Roongta – Additional Director (Whole-Time); Chief Financial Officer
• Ravi Vaishnav – Company Secretary & Compliance Officer

Latest Updates on Borosil Renewables Limited

• Operations: The company stabilised operations at its newly commissioned solar glass furnace, SG#3, enhancing operational efficiency; SG-3 commenced commercial production on February 23, 2023.
• Product Launches: Quick market adoption of grid-printed solar glass in 2.0 mm thickness for glass–glass, high-efficiency modules and enhanced glass textures; the company also introduced 2.0 mm solar glass for large-size modules during the year.
• R&D: Strengthening of the B. L. Kheruka Centre for R&D in Pune, with 6 patent applications filed over the last couple of years and R&D investment of Rs 6.36 crore in FY24.
• Energy Mix: A 10 MW solar–wind hybrid power project was commissioned in FY24; ~27% of energy needs are sourced from renewables.
• Regulatory Backdrop: The Finance Bill 2024 introduced a 10% Basic Customs Duty on imports of solar glass; separately, DGTR issued preliminary findings and initiated investigation into anti-dumping/countervailing duties on imports from China and Vietnam, following the company’s representations.
• Capacity and Footprint: India capacity reached 1,000 TPD with large-size formats introduced; international operations continue through subsidiaries in Germany and Liechtenstein.