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Borosil Limited Investor Presentation Q2FY27
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THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF BOROSIL LIMITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background information about the Company’s activities as at the date of the Presentation or as otherwise indicated. It is information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. This Presentation has been prepared by and is the sole responsibility of the Company. By accessing this Presentation, you are agreeing to be bound by the trading restrictions. It is for general information purposes only and should not be considered as a recommendation that any investor should subscribe to or purchase the Company’s equity shares or other securities. This Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “may”, “will”, “seeks” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, aims, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Presentation and include statements regarding the Company’s intentions, beliefs or current expectations concerning, amongst other things, its results or operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The factors which may affect the results contemplated by the forward looking statements could include, among others, future changes or developments in (i) the Group’s business, (ii) the Group’s regulatory and competitive environment, and (iii) political, economic, legal and social conditions in India or the jurisdictions in which our Group operates. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy of the Company, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved. There are some important factors that could cause material differences to Company’s actual results. These include (i) our ability to successfully implement our strategy (ii) our growth and expansion plans (iii) changes in regulatory norms applicable to the Company (iv) technological changes (v) investment income (vi) cash flow projections etc. The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this Presentation, unless otherwise specified is only current as of the date of this Presentation. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this Presentation, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or otherwise change in any manner the content of this Presentation without obligation to notify any person of such revision or changes. This document is just a Presentation and is not intended to be and does not constitute a “prospectus” or “offer document” or a “private placement offer letter” or an “offering memorandum” or an “offer” or a solicitation of any offer to purchase or sell any securities. It is clarified that this Presentation is not intended to be a document offering for subscription or sale of any securities or inviting offers from the Indian public (including any section thereof) or from persons residing in any other jurisdiction including the United States for the subscription to or sale of any securities including the Company’s equity shares. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded or delivered or transmitted or disseminated in any manner to any person other than its intended recipient and should not be reproduced or copied in any manner whatsoever. Borosil Limited | Q2FY27 Investor Presentation 2 Safe Harbour
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Borosil Limited | Q2FY27 Investor Presentation 3 About Borosil Brand with a 60+ year legacy One of the leading brands in glass microwavable & Largest Opalware Player in India Enjoys strong consumer equity in serving-ware, kitchen appliance and storage
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Borosil Limited | Q2FY27 Investor Presentation 4 ‘To Be The Most Customer-Centric Company in India’ Develop innovative products to meet evolving customer needs Nurture long-term relationships with all stakeholders Be a dependable partner that creates value for customers Our Vision
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Borosil Limited | Q2FY27 Investor Presentation 5 Expanded the Consumer products range by adding small kitchen appliances Acquired Hopewell Tableware Pvt Ltd & Klasspack Pvt Ltd Launch of Hydration Products Steel Serve Fresh Products were Launched NCLT approves Demerger of Businesses • Added Opalware Capacity of 42 TPD (Current Overall Capacity 84 TPD) • Demerger of Borosil Scientific Ltd • Commissioned captive ground mounted solar power project in Bikaner, for 8.6MWp Capacity - Phase I Company Timeline 60+ Years Of Excellence, With Consistent Accomplishments 1962 to 1964 1970 1988 1991 2015 2016 2017 2019 2020 2023 2024 2026 • Added India's First Borosilicate Glass production facility of 25 TPD • Commissioned captive ground mounted solar power project in Bikaner for 7.2MWp Capacity - Phase II • Borosil was Incorporated • Tied up with Corning Glass Works, USA & • Corning Acquired Majority Stake Introduced First Consumer Product Kheruka Family Acquired entire Stake of Corning Gujarat Borosil, a Subsidiary Company was formed • Commissioned captive solar power project in Bikaner for 20 MWp Capacity with BESS - Phase III • Commissioned Two Hydra double wall line facility
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Borosil Limited | Q2FY27 Investor Presentation 6 Key Highlights Presence in Retail Outlets 24000+ SKUs 18000+ Presence in Countries 26 Distributors ~250 Opal Glass Mfg Furnaces (84 TPD) 2 Borosilicate Glass Mfg Furnace (25 TPD) 1 • Part of Borosil Group: Part of the esteemed Borosil Group with a track record of 60+ years. • Trusted Brand: One of the oldest and most trusted brands in India • Larah: One of the largest Opalware manufacturers in India • Borosilicate Glass Production: Operates India’s first Borosilicate Glass Production Facility • Institutional Investors: Trusted by investors like DSP , Canadian World Fund, Quantum State MF and others. • Innovation & Technology: Deeply committed to leveraging information and technology to drive innovation, efficiency, and growth. • Diverse Product Range: Prides itself on offering a diverse product range that spans across multiple segments, catering to a wide variety of customer needs and preferences • In-house Development: Strong in-house New Product Development team • Manufacturing Excellence: Excellence in Opalware & Glassware manufacturing. First in various product concepts such as glass lunch boxes, Opalware lunch boxes, and the patented Spin-N-Store storage system. • Hydra Plant is BIS certified Hydra Double Wall Line Facility 2
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Borosil Limited | Q2FY27 Investor Presentation 7 Re-Imagining Consumer Products GLASS PRODUCTS COMPANY CONSUMER BRANDS COMPANY OCCASIONAL USE (MICROWAVABLE) DAILY USE (SERVING WARE, STORAGE, APPLIANCES) SINGLE BRAND BOROSIL MULTI BRAND BOROSIL, LARAH GENERAL TRADE • General Trade • Modern Trade • E-Commerce • Quick Com • B2B • CSD/CPC • Exports PAST PRESENT
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Product Categories - Glassware Borosil Limited | Q2FY27 Investor Presentation 8
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Non-Glassware: Appliances/Cookware/Gas Stoves/Hydra Flasks and Bottles Product Categories - Non Glassware Borosil Limited | Q2FY27 Investor Presentation 9
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Larah Opalware: Dinnersets/Tea & Coffee series/Storage containers Product Categories - Opalware Borosil Limited | Q2FY27 Investor Presentation 10
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Borosil Limited | Q2FY27 Investor Presentation 11 Journey over last 8 years 248.9 1,171.1 FY2018 FY2026 Sales 22.5 176.7 FY2018 FY2026 Operating EBITDA (Rs. In CRS)
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Borosil Limited | Q4FY26 Investor Presentation 12 Q2FY27 Consolidated Highlights Revenue from Operations ₹ 369.8 7.5% YoY CRS EBITDA ₹ 71.0 31.5% YoY CRS PAT ₹ 31.9 40.5% YoY CRS The shift in the Diwali festival impacts the timing of seasonal demand and sales, resulting in Q2 FY27 and H1 FY27 sales and financial performance not being strictly comparable with the corresponding periods of the previous year.
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Borosil Limited | Q2FY27 Investor Presentation 13 Consolidated Profit & Loss Statement Profit & Loss (Rs. In Cr) Q2FY27 Q1FY27 Q2FY26 YoY Revenue From Operations 369.8 257.6 344.1 7.5% Cost of Goods Sold 140.1 78.4 145.8 Gross Profit 229.7 179.2 198.3 15.8% Gross Profit Margin % 62.1% 69.6% 57.6% Employee Cost 33.3 33.1 30.1 Other Expenses 127.1 107.7 116.1 Other Income 1.8 2.6 1.9 EBITDA (incl Other Income) 71.0 41.1 54.0 31.5% EBITDA (Excl Other Income) 69.2 38.5 52.1 33.0% EBITDA Margin % 18.7% 14.9% 15.1% Depreciation and Amortization Expense 24.5 21.9 22.1 EBIT 46.5 19.3 31.9 45.5% Finance Cost 3.6 1.8 1.5 Profit Before Tax 42.8 17.4 30.5 40.6% Tax 10.9 4.6 7.8 Profit After Tax 31.9 12.8 22.7 40.5% The shift in the Diwali festival impacts the timing of seasonal demand and sales, resulting in Q2 FY27 and H1 FY27 sales and financial performance not being strictly comparable with the corresponding periods of the previous year.
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Borosil Limited | Q2FY27 Investor Presentation 14 Consolidated Profit & Loss Statement @ In FY26 - Provision on account of implementation of New Labour Code - INR 4.0 crores Profit & Loss (Rs. In Cr) H1FY27 H1FY26 YoY Revenue From Operations 627.4 576.8 8.8% Cost of Goods Sold 218.5 223.2 Gross Profit 408.9 353.6 15.6% Gross Profit Margin % 65.2% 61.3% Employee Cost 66.4 60.5 Other Expenses 234.8 203.8 Other Income 4.4 11.8 EBITDA (incl Other Income) 112.1 101.2 10.8% EBITDA (Excl Other Income) 107.7 89.4 20.5% EBITDA Margin % 17.2% 15.5% Depreciation and Amortization Expense 46.4 44.1 EBIT 65.7 57.1 15.2% Finance Cost 5.5 3.1 Exceptional Items@ - - Profit Before Tax 60.3 53.9 11.8% Tax 15.6 13.8 Profit After Tax 44.7 40.1 11.4% The shift in the Diwali festival impacts the timing of seasonal demand and sales, resulting in Q2 FY27 and H1 FY27 sales and financial performance not being strictly comparable with the corresponding periods of the previous year.
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Borosil Limited | Q2FY27 Investor Presentation 15 Category wise Sales Particulars (Rs. In Cr) H1FY27 H1FY26 YoY FY26 Glassware 152.6 148.6 2.7% 295.5 Non-Glassware 240.2 216.6 10.9% 463.7 Opalware 210.7 195.4 7.8% 411.9 Total Category wise Sales 603.4 560.6 7.6% 1171.1 Particulars (Rs. In Cr) Q2FY27 Q1FY27 Q2FY26 YoY Glassware 87.8 64.8 92.4 -5.1% Non-Glassware 143.2 97.0 122.5 17.0% Opalware 127.0 83.6 119.3 6.5% Total Category wise Sales 358.0 245.4 334.2 7.1% Difference between Revenue from Operations and Category wise Sales is Other Operating Income The shift in the Diwali festival impacts the timing of seasonal demand and sales, resulting in Q2 FY27 and H1 FY27 sales and financial performance not being strictly comparable with the corresponding periods of the previous year.
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Borosil Limited | Q1FY27 Investor Presentation 16 '@ In FY26 - Provision on account of implementation of New Labour Code - INR 4.0 crores In FY23, Insurance claim received as a full settlement of the claim with respect to loss of property due to fire in FY22 at t he Company’s warehouse situated at Bharuch Consolidated Profit & Loss StatementConsolidated Profit & Loss Statement Profit & Loss (Rs. In Cr) H1FY27 FY26 FY25 FY24 FY23 Revenue From Operations 627.4 1,195.9 1,107.8 948.5 742.0 Cost of Goods Sold 218.5 473.2 406.5 380.0 343.1 Gross Profit 408.9 722.8 701.2 568.6 399.0 Gross Profit Margin % 65.2% 60.4% 63.3% 59.9% 53.8% Employee Cost 66.4 125.0 112.8 86.6 64.1 Other Expenses 234.8 429.0 418.3 343.0 267.7 Other Income 4.4 29.6 27.0 11.5 19.6 EBITDA (incl Other Income) 112.1 198.4 197.1 150.5 86.7 EBITDA (Excl Other Income) 107.7 168.7 170.0 139.0 67.2 EBITDA Margin % 17.2% 14.1% 15.4% 14.7% 9.1% Depreciation and Amortization Expense 46.4 86.8 81.0 53.9 27.6 EBIT 65.7 111.5 116.0 96.6 59.2 Finance Cost 5.5 6.5 12.8 8.8 2.5 Exceptional Items@ - 4.0 - - -9.3 Profit Before Tax 60.3 100.9 103.2 87.8 66.0 Tax 15.6 26.3 29.0 22.0 14.1 Profit After Tax 44.7 74.7 74.2 65.9 51.9
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Borosil Limited | Q2FY27 Investor Presentation 17 Consolidated Balance Sheet Assets (Rs. In Cr) H1FY27 FY26 FY25 FY24 FY23 Equity and Liabilities (Rs. In Cr) H1FY27 FY26 FY25 FY24 FY23 Non-current Assets Equity (a) Property, Plant and Equipment 640.2 530.2 580.8 545.3 352.0 (a) Equity Share Capital 12.0 12.0 12.0 11.5 11.4 (b) Capital work-in-progress 15.8 105.5 18.3 25.5 39.6 (b) Other Equity 920.9 875.0 795.7 568.5 498.5 (c) Investment Property 0.7 0.7 0.7 0.7 1.1 Total equity 932.8 886.9 807.7 580.0 510.0 (d) Other Intangible assets 0.3 0.4 1.4 1.7 0.2 (e) Intangible assets under development - - - 0.0 1.3 Liabilities (e) Financial Assets Non current Liabilities (i) Investments 16.5 17.3 21.6 27.8 36.7 (a) Financial Liabilities (ii) Loans 0.3 0.3 0.5 0.3 0.2 (i) Borrowings 101.1 103.2 43.4 92.9 53.2 (iii) Others 4.4 4.3 3.9 1.7 1.7 (ii) Lease Liabilities 25.9 6.7 10.2 9.1 5.3 (f) Non Current Tax Assets (net) 0.0 0.0 0.1 0.2 6.5 (b) Deferred Tax Liabilities (net) 19.2 19.5 19.0 12.9 8.4 (g) Other non current assets 35.9 37.1 11.5 21.3 30.4 Total non current liabilities 146.2 129.5 72.6 115.0 66.9 Total non current assets 714.1 695.7 638.8 624.6 469.5 Current Liabilities Current Assets (a) Financial Liabilities (a) Inventories 429.4 366.1 333.0 252.8 144.4 (i) Borrowings 61.6 33.2 34.2 60.9 35.1 (b) Financial Assets (ii) Lease Liabilities 8.2 4.9 5.1 1.8 0.9 (i) Investments 48.4 66.2 28.0 57.6 109.7 (iii) Trade Payables 91.7 73.1 79.2 88.4 41.0 (ii) Trade Receivables 148.0 107.0 101.3 91.4 51.3 (iv) Other Financial Liabilities 110.9 114.1 109.0 215.5 174.3 (iii) Cash and cash equivalents 2.0 2.8 1.2 5.4 8.2 (b) Other current liabilities 21.6 9.4 7.9 8.3 8.1 (iv) Bank Balances other than (iii) above 0.2 0.4 0.3 1.5 1.4 (c) Provisions 17.1 16.3 11.0 9.6 7.2 (v) Loans 0.4 0.5 0.6 0.6 0.3 (d) Current Tax Liabilities (net) 7.4 14.3 4.3 - 6.2 (vi) Others 7.2 6.2 3.2 2.8 2.1 Total current liabilities 318.7 265.3 250.7 384.7 272.8 (c) Other current assets 48.1 36.8 24.6 42.9 26.4 (d) Assets held for Sale - - - - 36.5 Total current assets 683.7 586.0 492.2 455.0 380.2 TOTAL ASSETS 1,397.8 1,281.7 1,131.0 1,079.6 849.7 Total Equities and Liabilities 1,397.8 1,281.7 1,131.0 1,079.6 849.7
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Borosil Limited | Q2FY27 Investor Presentation 18 Consolidated Cash Flow StatementConsolidated Cash Flow Statement Particulars (Rs. In Cr) H1FY27 H1FY26 FY26 FY25 FY24 FY23 A Cash Flow from Operating Activities Profit Before Tax as per Statement of Profit and Loss 60.3 53.9 100.9 103.2 87.8 66 Adjustments for: Non - Cash Items / Other Investment or Financial Items 51.1 39.5 83.7 74.5 56.7 1.9 Operating Profit before Working Capital Changes 111.4 93.4 184.6 177.7 144.5 67.9 Changes in working capital -91.4 -34.9 -49.4 -179.6 -79.8 66.5 Cash generated from / (used in) operations 20.0 58.5 135.2 -1.8 64.8 134.4 Direct taxes paid (net of refund) -22.9 -8.4 -16.4 -17.5 -16.7 -13.9 Net Cash from Operating Activities -2.9 50.1 118.8 -19.3 48 120.6 B Cash Flow from Investing Activities -15.2 -34.9 -164.8 -41.3 -106.1 -227.9 C Cash Flow from Financing Activities 17.2 -15.4 47.5 56.5 55.3 93.4 D Net Increase/ (Decrease) in Cash and Cash Equivalents (A+B+C) -0.9 -0.2 1.6 -4.1 -2.8 -13.9 Opening Balance of Cash and Cash Equivalents 2.8 1.2 1.2 5.4 8.2 22.1 Closing Balance of Cash and Cash Equivalents 2.0 1.0 2.8 1.2 5.4 8.2 The shift in the Diwali festival impacts the timing of seasonal demand and sales, resulting in Q2 FY27 and H1 FY27 sales and financial performance not being strictly comparable with the corresponding periods of the previous year.
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Borosil Limited | Q2FY26 Investor Presentation19
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Borosil Limited | Q2FY27 Investor Presentation 20 Note: Source : Technopak Report and internal estimates Market Opportunity Category Market Size Branded (₹ Crs.) Market Growth % Domestic Appliances(Small) Glass (Borosilicate) Includes Microwavable, Tumblers and Storage Opalware Insulated Steel BottleRange Tumblers (Soda lime) Cookware (Includes cooking range of pans, cookers, kadhais etc. made of steel, non-stick, cast iron, aluminium etc.) ~415 10.5 % ~400 10 % ~7922 ~ 10 % ~2,000 10% ~1,375 12%-15% ~8,155 8.5%
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Borosil Limited | Q2FY27 Investor Presentation 21 Channel Presence
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Borosil Limited | Q2FY27 Investor Presentation 22 Why Borosil ? ✓ Category Leader : #1 in Opalware (Larah) ✓ Brand Stickiness : Trust built over decades, strong recall. Trusted across generations ✓ Mass Premium Positioning : Bridges aspiration with affordability ✓ India Consumption Play : Rising PFCE & urban middle- class boom will benefit in long run. ✓ 5x Growth in Hydra Range : Tapping ₹2,000+ Cr Insulated Steel Bottle market ✓ 25 TPD Borosilicate Plant: Backward integration, margin accretive ✓ 84 TPD Opalware Capacity: Among India’s largest ✓ Consumption Megatrend Proxy: Plays India’s next-gen kitchen, dining, and lifestyle story ✓ Plastic-to-Glass Shift : Riding health & sustainability wave ✓ Distribution Reach: Extensive distribution footprint spanning General Trade, Modern Trade, E-commerce, B2B, CSD, and CPC ✓ Make in India Manufacturing: Cost-efficient, scalable, high quality ✓ High Operating Leverage: Capacity ramp-up = earnings upside and margin expansion. ✓ Talent retention: Through ESOPs + Innovation-driven workforce ✓ Resilient Financials: Strong Balance Sheet with steady cashflows and negligible net debt ✓ Poised for Multi-Year Growth: Aligned with structural consumption tailwinds ✓ BIS Certified Hydra Plant
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Borosil Limited | Q2FY27 Investor Presentation 23 1,88,862 2,00,654 2,12,979 2,27,065 FY23 FY24 FY25 FRE FY26 SAE Per Capita GDP (₹) Private Final Consumption Expenditure (PFCE), First Revised Estimate (FRE), Second Advance Estimate (SAE) Source: RBI, PIB & Industry Estimates 1,07,910 1,13,117 1,18,602 1,26,573 FY23 FY24 FY25 FRE FY26 SAE Per Capita PFCE (₹) With India’s per capita consumption on the rise, the demand for premium yet affordable kitchenware, storage, hydration, and serveware is poised for rapid growth thereby propelling Borosil’s core growth engines. “ ” India’s GDP & PFCE growth
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Borosil Limited | Q2FY27 Investor Presentation 24 Rising Disposable Incomes & Discretionary Spend A Strong Tailwind for Borosil • With GDP per capita expected to grow at 7.5% CAGR during FY2024– 2030, this strong upward trend in purchasing power creates a favourable environment for consumer-driven growth • India's per capita income to reach $4,000 by FY30, thereby creating an ideal environment for boosting consumerware and kitchenware demand • Discretionary spending set to grow at 8.7% CAGR by FY30, expanding opportunity for consumerware and kitchenware products • Food share in household spend dropping; wallet share shifting to durables, appliances, lifestyle products 2,628 3,242 4,000 FY24 FY27E FY30E India's per capita income ($) Source: India's changing discretionary spending: RAI & Deloitte, Industry view
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Borosil Limited | Q2FY27 Investor Presentation 25 Brown Goods Boom – Fueling Demand in the long run • The brown goods market in India is expected to grow from $5 billion in FY24 to $9 billion by FY30, implying a CAGR of ~10%. • Rising demand for kitchen-centric appliances such as microwaves, choppers, mixers, grinders, and toasters. • Growth driven by urbanisation, premiumisation, lifestyle upgrades, and online retail access, all directly relevant to Borosil’s product portfolio. Source: India's changing discretionary spending: RAI & Deloitte, Industry view 5 9 FY24 FY30E Size of Brown Goods ($ Bn) Brown Goods include microwave oven, kitchen appliances, home appliances, and personal care appliances
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Rising spend on nutrition, health and fitness directly correlates to awareness towards leading a healthy life which would have effects on choices of adopting safer food & drink practices, where steel, glassware & Opalware would be preferred over plastic. “ ” Borosil Limited | Q2FY27 Investor Presentation 26 Rise of Health-Conscious India – Driving Demand for Steel, Glassware & Opalware • Health Awareness on the Rise • Indians have become more aware and have increased spending on nutrition, health and fitness • Strong consumer shift towards nutrition, hydration, and toxin-free lifestyles • Plastic Rejection Accelerating • Growing concerns around BPA, microplastics, and endocrine disruptors • Urban millennials and Gen Z avoiding plastic in food/beverage use • Single-use plastic bans and sustainability concerns pushing demand for alternatives 18 32 16 2312 22 5 11 50 90 FY24 FY30E Size of the Indian health and wellness market (in US$ Bn) Nutrition Beauty & Personal Care Fitness Mindfullness Source: India's changing discretionary spending: RAI & Deloitte, Industry view The shift toward steel, glassware and opalware is gradual but inevitable, driven by rising demand for safer, healthier and premium alternatives.
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27 Make in India — Strengthening Domestic Manufacturing for Scalable Growth Borosil is investing in future-ready capacity — built in India, for India and the world. • Established Leadership in Opalware & Borosilicate Glassware Manufacturing: • Operates 84 TPD Opalware Furnaces – among the largest in India • 25 TPD Borosilicate Glassware Furnace commissioned in Mar’24 • Manufacturing premium Borosilicate & Opalware microwave-safe products under Borosil & Larah brand • Scale enables cost-efficiency, consistent quality, and faster market response. 84 TPD Opalware 25 TPD Borosilicate Glassware
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28 Make in India — Strengthening Domestic Manufacturing for Scalable Growth Borosil is investing in future-ready capacity — built in India, for India and the world. • Expanding Manufacturing • Setting up of a manufacturing unit with three double-wall lines for vacuum insulated stainless-steel flasks, bottles and containers in the state of Rajasthan • Estimated initial capex: ₹65 crore • Initial capacity: ~3.6 million units annually • Commercial production from • Two double-wall lines started in Q1FY27 and • Third double-wall line targeted by January’27. ~3.6 Vacuum-insulated stainless- steel bottles, flasks, and containers mn units annually Planning for Borosil Limited | Q2FY27 Investor Presentation
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Borosil Limited | Q2FY27 Investor Presentation29 Expansion of BG Furnace from 25 TPD to 32 TPD, Jaipur • Existing furnace capacity of 25 TPD with 2 forming lines at Jaipur • Furnace commissioned in Jan’24; rebuild scheduled in Jan’28 • Current capacity utilization at ~90% • Board approved expansion to 32 TPD with addition of a 3rd forming line • Estimated capex of ₹50 Cr • The expansion is expected to drive: • Removal of capacity bottlenecks • Product diversification & portfolio expansion • Improved operating efficiency • Lower production cost & enhanced competitiveness
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Borosil Limited | Q2FY27 Investor Presentation 30 Mass Premium Products Healthier, Stylish, Durable, Non-toxic Borosil glassware is a non-toxic, eco-friendly alternative to plastic. They are fully recyclable, reusable, and designed to preserve the original taste and quality of contents, making it a superior choice for a healthier and more sustainable lifestyle. Increasing Disposable Income Rising disposable income among the upper middle class is transforming India's consumer market, with significant growth driven by both urban and rural areas. Borosil’s Unique Positioning Borosil is offering high-quality products at affordable prices, positioning itself between mass market and premium market segments with its "Mass Premium Products." Value Proposition Borosil offers 'Mass Premium Products' that prioritize safety, affordability, durability, and modern design. Our focus on innovative product development and exceptional customer service ensures we consistently exceed customer expectations.
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31 Expanding from being synonymous with microwavable glass to storage, serving-ware, and domestic appliances PREPARE SERVE COOK HEAT STORE • Contemporary • Everyday Use • Performs Beautifully • Ally to the progressive homemakers Storage, Cooking, and Serving Needs of a Modern Kitchen Borosil Limited | Q2FY27 Investor Presentation
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Borosil Limited | Q2FY27 Investor Presentation 32 Ally Of the Progressive Homemaker #Lunch Husband, Kids #Morning Preps, Chai, Breakfast, # social meetings, hi tea, travel, Workout #Dinner Prep, Evening Tea, Dinner Serving Touching Consumer Life Everyday
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Borosil Limited | Q2FY27 Investor Presentation 33 Our Products are Highly Rated and Widely Loved
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Our Customer Love Us Borosil Limited | Q2FY27 Investor Presentation 34
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New Product Launch : Glassware Borosil Limited | Q2FY27 Investor Presentation 35
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Introducing BOROSIL ION GLASS TECHNOLOGY Glassware Market Expansion by removing the fear of breakage • Launch of Aura Dinnerware backed up with ION-Glass technology • The glass is 1.5X stronger than any ordinary glassware • Scratch resistant and extreme temperature proof • Promoted the technology through various touchpoints-communication on the pack, demo units at channel partners meet & exhibitions, PR etc. (WIP) Borosil Limited | Q2FY27 Investor Presentation 36
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preencoded.png 46 New Product Launch : Non- Glassware
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NEW PRODUCT LAUNCH : Larah Opalware
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8 Larah Thermoware combines PU insulation, a food-grade stainless steel interior, and a lightweight outer shell to keep your drinks hot or cold on the go. New Category Launch
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Borosil Exclusive Brand Store: A New Chapter in the Borosil Journey Objective: • The Borosil brand stores were launched as physical touchpoints to communicate the core brand positioning-”thoughtfully designed solutions that make everyday living simpler, healthier, and more beautiful” • Offers the world of Borosil under one roof • The layout navigates the customers seamlessly through the entire journey “PREP, COOK, STORE, SERVE, CARRY” • STORE 1: Elan Miracle, Gurugram • STORE 2: Phoenix Avenue of Stars, Pune • The Launch was planned with curated invitations, teaser campaigns, Hoardings at prime intersection of roads, society screens, targeted digital ads. • The day of the launch was marked by pooja and engagement event with Chef Harpal . Further it was amplified on Linked-in and PR Cook Serve Store Reheat Carry
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Borosil Limited | Q2FY27 Investor Presentation 41 Key Brand Partners
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Borosil Limited | Q2FY27 Investor Presentation 42 Key Institutional Partners
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Borosil Limited | Q2FY27 Investor Presentation 43 Consumer Products Business Growth Theme Enhance/ build manufacturing capacity for Opal Glass and Borosilicate Glass in India New Product Development Leverage Brand Borosil Everyday Usage Our focus on innovation and customer needs is the backbone of our New Product Development Made In India Borosil is one of the leading brands in India. We leverage this to provide world-class products To make glassware affordable for mass consumers and promote it for daily use
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Borosil Limited | Q2FY27 Investor Presentation 44 Core Microwavable Products Bring more users into category Maintain market share Larah-Opalware dinnerware: Mass market/daily use Upgrade consumers from Melamine etc.. Participate in market growth Invest in category growth Storage products: Kitchen & on the go Convert from plastics Invest in awareness building on advantages of glass – grow category Domestic appliances Expand range Target to build high quality, niche range in medium term Product Portfolio Growth Pillars Steady Growth Current Tailwind Current Tailwind Current Tailwind
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India shifts from 65–70% OF URBAN INDIAN CONSUMERS actively avoid heating food in plastic containers ~60% OF WORKING PROFESSIONALS prefer glass or steel for office meals due to health concerns Searches for “BPA-free” and “plastic-free food containers” have grown 3X+ OVER LAST 5 YEARS Medical & media on MICROPLASTICS AND CHEMICAL LEACHING has accelerated category shift Consumers are actively moving away from plastic lunch boxes towards glass, driven by health and environment friendliness. HEALTH & SAFETY IS THE PRIMARY DEMAND TRIGGER PLASTIC TO GLASS Indian FOOD STORAGE & LUNCHBOX MARKET growing at ~10–12% CAGR Within this: • PLASTIC LUNCH BOXES: Low single-digit growth / volume stagnation • GLASS LUNCH BOXES: 18–22% CAGR over last 4–5 years More than 80% of urban consumers are concerned over plastic usage Borosil Limited | Q2FY27 Investor Presentation 45
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“GLASS IS GOOD” 100% FOOD SAFE Inert, non-toxic material No BPA | No chemical leaching Safe for hot, oily & acidic food MICROWAVE & HEAT SAFE Direct reheating without transfer No degradation over repeated use Fits modern office lunch habits STAIN & SCRATCH RESISTANT No odour retention No staining over time Stays “as new” for years LEAK-PROOF & AIRTIGHT Secure lids for gravies & liquids Zero spillage in bags Expands usage occasions SUSTAINABLE CHOICE 100% recyclable Reduces plastic dependency Aligned with eco-conscious consumers combine health, convenience, and sustainability — making them the preferred choice for modern Indian households.” GLASS LUNCH BOXES Borosil Limited | Q2FY27 Investor Presentation 46
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• Logo Transformation • Color Coding • Standardization of Fonts • Change of Icons, Imagery • Tone of Voice - Make it Simple - Make it Warm - Make it Memorable Consistent Colors /Creative Imagery across channels/categories & platforms Economic Times- Design & Creativity Award 'Most Creative Packaging Re- Design' Customers perceived “Borosil” as "mom's brand"—functional but not an experience brand. Brand carried the asset of trust based on product performance , wanted to add aesthetics along with performance Brand Transformation: We enhance everyday for every Indian family Borosil Limited | Q2FY27 Investor Presentation 47
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Total Views CELEBRITY KITCHEN REVAMP 20 Million Direct Revenue 50 Lakh+ The campaign featured high-profile episodes with Neena Gupta, Faye D’Souza, Priyamani, Chef harpal to showcase Borosil’s impact on real-world celebrity kitchens. Sign Ups 500+ ROAS 4.5X Upcoming Celebrities John Gloster Kamiya Jani Borosil Limited | Q2FY27 Investor Presentation 48 Borosil Kitchen Connection: From Content to Commerce
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49 Larah Opalware Category Gaining Salience One of the leading player in ~INR 1500 cr category Adoption being led by Focus on market expansion Future Growth Drivers • Gaining share in growing market • Urbanization and nuclearization of families • Increase in entertaining guests at home • Changing lifestyles leading to aspirational preferences • Healthier, economic and aesthetic alternative to melamine or steel • Microwavable, light, break-resistant, non- porous, stain proof, bone ash free • Premiumisation of products • Focused on developing and launching products in new categories Borosil Limited | Q2FY27 Investor Presentation
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Borosil Limited | Q2FY27 Investor Presentation 50 48 412 0 50 100 150 200 250 300 350 400 450 FY16 FY26 Larah - Sales (INR Crs) Acquisition and Transformation: • Larah was acquired by Borosil in 2016. • Strategic steps were taken to revamp operations and market positioning. Innovation and Market Study: • Conducted rigorous market studies to understand and capture consumer preferences and regional design trends. • Developed wide offerings in designs, shapes and compositions based on customer need. Operational Efficiency: • Streamlined production processes to enhance efficiency. • Adopted advanced technologies to improve product quality. Brand Strengthening: • Strengthened Larah’s brand presence in the market. • Leveraged Borosil’s reputation to boost Larah’s market credibility. Customer Satisfaction: • Enhanced customer satisfaction through robust quality controls and tech- advanced CRM systems • Focused on customer feedback, resulting into increased customer loyalty. Larah increased its market share significantly, post its acquisition in 2016 Larah's Remarkable Growth Story
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Borosil Limited | Q2FY27 Investor Presentation 51 Non-Glassware the Rising Star 23 464 0 50 100 150 200 250 300 350 400 450 500 FY17 FY26 Non-Glassware - Sales (INR Crs) Growth in Non-Glassware were majorly driven by: • Emphasis On Research And Product Development • Leveraging Our Brand Value • Effective Marketing And Branding Strategies • Effective Product Positioning And Pricing Strategies • Strong Focus On E-commerce • Emphasis On Quality And Technological Advancements • Expanding Retail Outlets & Distribution Networks • Customer Feedback and Engagement Non-Glassware category has significantly grown over the years
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Borosil Limited | Q2FY27 Investor Presentation 52 Medium-Term Thrust Areas Achieve revenue CAGR of ~ 15%-20% Become brand of consumer choice Improve EBITDA margins Optimise capital employed - Increase penetration of glass storage and Opalware - Introduce high-quality & innovative To-Go storage products - Gain share in premium niche domestic appliances - Accelerate growth in E-commerce - Maintain investments in brand building - Introduce new and improved range of products - Benchmark the online consumer experience with best-in-class standards - Establish feedback loops with customers to improve existing products and gather insights for new product development. - Better estimation of channel inventories - Increase share of domestic sourcing - Digital Transformation Initiatives - Premiumization of products - Improve warehousing and logistics cost - Control fixed overheads
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Borosil Limited | Q2FY27 Investor Presentation 53 - Opportunity to create a high quality mass premium range leveraging the Borosil brand - Commenced without investments in manufacturing assets - Expanding range of product offerings - Increase Made in India’s portfolio and reduced dependence on China supply chain Domestic Appliances New Engine of Growth
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Borosil Limited | Q2FY27 Investor Presentation 54 Awareness of glass as a preferred storage option is rising - No health hazard as compared to plastic - Transparent as against opaque steel & plastic getting stained and translucent over time - Looks as good as new for an extended period of time - Good design ensures stack-ability & space optimization High grade steel design for on-the-go products like flasks & hot food cases an opportunity Storage Range Thoughtful Products Creating A New Pillar of Growth - Very low penetration of glass storage Indian kitchen storage dominated by plastic and steel
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Borosil Limited | Q2FY27 Investor Presentation 55 Our understanding of ESG ESG for us is about how we create profits. It is outcome-driven and not just good intentions.
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Borosil Limited | Q2FY27 Investor Presentation 56 Our strategic ESG priorities - Aim to achieve Carbon neutral operations - Create a positive water balance - Explore waste management opportunities - Transition to low carbon energy - Achieve a zero-accident workplace - Become an equal opportunity employer - Integrate suppliers as business partners - Building resilient communities - Empowering customers -Enhancing transparency & fairness - Focusing on highest ethical standards - Creating a risk management framework - Creating a strong IT infrastructure Our Actions - ESG targets disclosures & Dashboard to track the emissions - Upgradation of Effluent Treatment Plant (ETP) and integration with Zero Liquid Discharge (ZLD) system for optimum utilization of water - Using recyclable corrugated packaging and limit use of thermocol packaging - 35.8 MWp ground-mounted solar capacity commissioned in Borosil Ltd, with partial BESS integration. - Additional 9.5 MWp ground-mounted solar capacity under implementation across Borosil Limited and its subsidiary, with partial BESS integration - Achieved Zero Fatality year on year - Equal opportunity policy in place - Sustainable supply chain management policy in place & Initiated deployment of Supplier code of conduct (SCOC) - Multiple community development programs launched on a need basis - Highly customer-focused operations with special grievance redressal department for customers - Establishing an Ombudsman to address grievances - A group-wide Code of Conduct applicable to all employees and leadership. Awareness session & training is being conducted - ESG risks are incorporated in the risk management framework - A group-wide program on the evaluation of IT risks. Borosil 2.0: Leading a responsible tomorrow Borosil Limited is on a transformational journey to address key ESG opportunities and create long term value for our customers. Borosil Limited aims to disclose quantifiable targets over short to medium term and transparently report performance against the targets.
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Borosil Limited | Q2FY27 Investor Presentation 57 Bloomberg Ticker NSE Ticker BSE Ticker Market CAP 543212 BOROLTD1369812D:IN ~₹3512crs Market Cap (NSE) as on 30th Sep 2026 Equity Information No. of Shares issued of ₹1 each, as at 30th Sep 2026: 11,95,87,629 Promoter & Promoter Group 64.68% FIIs 0.43% DIIs 6.43% Public & Others 28.45% Shareholding % as on 30th Sep 2026 Promoter & Promoter Group FIIs DIIs Public & Others
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Borosil Limited | Q2FY27 Investor Presentation 58 Board Of Directors Mr. Pradeep Kumar Kheruka Chairman Mr. Shreevar Kheruka Vice Chairman, Managing Director Mr. Rajesh Kumar Chaudhary Whole-Time Director Mr. Kewal Handa Independent Director Mr. Kanwar Bir Singh Anand Independent Director Ms. Anupa Sahney Independent Director Mr. Adarsh Menon Independent Director
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Thank You Corporate Address 1101, Crescenzo, G - Block, Opposite MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051, India. www.borosil.com www.myborosil.com Anand Sultania (Chief Financial Officer) anand.sultania@borosil.com Dhaval Patel (Head - Investor Relations) Dhaval.patel@borosil.com