Latest news with #BorosilRenewablesLtd
Yahoo
13-05-2025
- Business
- Yahoo
Borosil Renewables Ltd (BOM:502219) Q4 2025 Earnings Call Highlights: Strong Domestic Growth ...
Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Borosil Renewables Ltd (BOM:502219) reported a 12% increase in total sales for the financial year ended March 2025, reaching INR 1,110 crores. The company's EBITDA for FY25 increased by 51.8% to INR 180.51 crores, indicating improved profitability. The imposition of anti-dumping duties on solar glass imports from China and Vietnam has positively impacted domestic solar glass producers. Domestic demand for solar glass remains robust, with manufacturing capacity for solar modules expected to rise significantly by March 2027. The company plans to commission a 16.5 megawatt solar plus wind hybrid power plant, which will help meet a significant portion of its electricity demand from renewable sources. Export sales dropped sharply to INR 91.73 crores in FY25, primarily due to reduced demand in European markets and economic challenges in Turkey. The German subsidiary faced a significant decline in sales, leading to the suspension of manufacturing and a write-off of non-moving inventories. The company is incurring monthly losses of approximately 9 crores at its German subsidiary due to fixed overheads. Despite improvements in Indian operations, the consolidated EBITDA was impacted by lower profitability of overseas subsidiaries. The company is facing challenges in the European market due to intense competition and undercut prices from Chinese manufacturers. Warning! GuruFocus has detected 3 Warning Signs with BOM:502219. Q: What was the realization during the quarter, and how does it compare to the floor custom duty being imposed? A: The realization was INR127.6. Compared to the import price custom duty, it was about 7-8% lower than China, which has the highest duty. However, compared to Vietnam and Malaysia, the realization was higher. (Respondent: Unidentified_6) Q: What do you mean by revision of capital proposal? Are you revising the overall capacity downward? A: We are reviewing the CapEx program and reaffirming the revision upwards, not downwards. (Respondent: Unidentified_6) Q: What is the monthly burn rate at the German subsidiary, and can you elaborate on the one-time employee cost and inventory adjustment? A: The inventory write-off was about 16 crores. The monthly loss is approximately 900,000 EUR, or 8.5 to 9 crores. We are trying to reduce costs by putting employees under a government-paid training program. (Respondent: Unidentified_6) Q: What does the future look like for the German subsidiary and exports in general, given the current uncertainties? A: The new German government plans heavy investment in solar manufacturing, which should lead to strong solar manufacturing programs. The European Union mandates that 40% of solar photovoltaic installations must come from European sources, which is promising for our company. (Respondent: Unidentified_4) Q: Are we expecting any exports from China to be rerouted through Malaysia, given that Malaysia has no duties? A: Exports from Malaysia have increased, but they are aware of the prices in India and have adjusted their prices accordingly. The competition from Malaysia is marginal, and we are able to maintain prices close to Chinese prices. (Respondent: Unidentified_6) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
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Business Standard
09-05-2025
- Business
- Business Standard
India imposes 5-year anti-dumping duty on Chinese, Vietnamese solar glass
India has imposed an anti-dumping duty of up to USD 664 per tonne on imports of a certain type of solar glass from China and Vietnam for five years in a bid to protect domestic manufacturers from cheap imports from these two countries, according to a government notification. The duty was imposed after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for the same after conducting a detailed probe on the dumping of 'Textured Toughened (Tempered) Coated and Uncoated Glass' from China and Vietnam. Commonly used in solar panels, these glasses are also referred to as Solar Glass, Low Iron Solar Glass, Solar PV Glass, High Transmission Photovoltaic Glass, and Tempered Low Iron Patterned Solar Glass. It has concluded in its findings that there is a substantial increase in the volume of dumped imports of the glass from these countries in absolute and relative terms. "The anti-dumping duty imposed under this notification shall be effective for a period of five years from the date of imposition of the provisional anti-dumping duty, that is, December 4, 2024, unless revoked, amended or superseded earlier," the finance ministry said in a notification. The imposed duty will be in the range of USD 570 per tonne and USD 664 per tonne. The DGTR conducted the probe following applications regarding the same from Borosil Renewables Ltd on behalf of the domestic industry. In a BSE filing, Borosil has hailed the decision and said that it will encourage rapid and significant growth in domestic manufacturing of solar glass. Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organization (WTO). Both India and China are members of the multilateral organisations, which deals with global trade norms. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
09-05-2025
- Business
- Time of India
India imposes anti-dumping duty on certain type of solar glass from China, Vietnam for 5 years
New Delhi: India has imposed an anti-dumping duty of up to $664 per tonne on imports of a certain type of solar glass from China and Vietnam for five years in a bid to protect domestic manufacturers from cheap imports from these two countries, according to a government notification. The duty was imposed after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for the same after conducting a detailed probe on the dumping of 'Textured Toughened (Tempered) Coated and Uncoated Glass' from China and Vietnam. Commonly used in solar panels, these glasses are also referred to as Solar Glass, Low Iron Solar Glass, Solar PV Glass, High Transmission Photovoltaic Glass, and Tempered Low Iron Patterned Solar Glass. It has concluded in its findings that there is a substantial increase in the volume of dumped imports of the glass from these countries in absolute and relative terms. "The anti-dumping duty imposed under this notification shall be effective for a period of five years from the date of imposition of the provisional anti-dumping duty, that is, December 4, 2024, unless revoked, amended or superseded earlier," the finance ministry said in a notification. The imposed duty will be in the range of $570 per tonne and $664 per tonne. The DGTR conducted the probe following applications regarding the same from Borosil Renewables Ltd on behalf of the domestic industry. In a BSE filing, Borosil has hailed the decision and said that it will encourage rapid and significant growth in domestic manufacturing of solar glass. Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organization (WTO). Both India and China are members of the multilateral organisations, which deals with global trade norms. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.
