Slides
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Turning Sunlight Q2FY27 Earnings Presentation October 2026 into progress BOROSIL ?f enewables
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Disclaimer 2 This presentation and the accompanying slides (the “Presentation”), which have been prepared by Borosil Renewables (the “Company”), have been prepared solely for information purposes only and does not constitute any offer or invitation, directly or indirectly, in any manner, or induceme nt to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of the Company in any jurisdiction and no part of it shall form the basis of or b e relied upon in connection with any contract or commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation is not a prospectus, disclosure document, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. This Presentation should not be considered as a recommendation that any investor should subscribe for or purchase any securities of the Company or its subsidiary (collectively, the “Group”) and should not be used as a basis for any investment decision. The information contained in this Presentation is only current as of its date and has not been independently verified. The Gr oup will not update you in the event the information in the Presentation becomes stale. Moreover, both express or implied representation or warranty is made as to, and no reliance should be placed on, the truth, accuracy, fairness, reasonableness or completeness of the information presented or contained in this Presentation and nothing in this Presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. None of the Group or any of its affilia tes, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this Presentation. Furthermore, no p erson is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this Presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Group. This Presentation is being given s olely for your information and for your use, and may not be copied, reproduced or redistributed to any other person in any manner. The distribution of this Presentation i n certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this Presentation should inform themselves about and observe any such restrict ions. This Presentation is not a complete description of the Company. Certain statements in the Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. All forward-looking statements are based on judgments derived from the information available to the Company at this time. Such forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Any opinion, estimate or projection herein constitutes a judgment as of the date of this Presentation, and there can be no assurance that future results or events will be consistent with any such opinion, estimate or projection. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward- looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. Given these uncertainties and other factors, viewers of this Presentation are cautioned not to place undue reliance on these forward-looking statements. All information contained in this Presentation has been prepared solely by the Company based on information and data which the Company considers reliable. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. BOROSIL ,,,,11 2 Tenewables
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3 INDEX I. Quarterly Updates II. Business Overview III. What Sets Us Apart IV. Annexures
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Our Vision “To be the most Customer Centric Company” Purpose “Pioneering a sustainable future with reliability and quality” BOROSlt renew ables
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Q2FY2027 Earnings Presentation Quarterly Update BOROSIL renew ables
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Management Commentary 6 Mr P .K. Kheruka Executive Chairman The Company delivered a strong half yearly performance as revenue from operation stood at ₹801.8 crore (rise of 12.8% over H1FY26), EBITDA at ₹258.3 crore(rise of 18.5% over H1FY26) and PAT at ₹157.8 crore. On a quarterly basis the revenue from operation was ₹396.2 crore in Q2FY27, with EBITDA of ₹116.3 crore and PAT of ₹70.1 crore. India’s solar manufacturing ecosystem continues to expand, supported by capacity additions across the value chain and the country’s long-term renewable energy ambitions. The Company’s 60% expansion under execution is aimed at enhancing it’s ability to address the growing demand for solar glass and reduce import dependance for the country. Going forward, our priorities remain focused on improving operating performance, enhancing manufacturing efficiencies and continue creating sustainable value for all stakeholders. BOROSIL ,,,,11 2 Tenewables ''
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Earnings at a Glance: Q2 & H1 FY2027 7 In Revenue from Operations EBITDA PBT PAT ₹396.2 Cr ↑ 4.7% YoY ₹116.3 Cr ↓7.3% YoY ₹92.1 Cr ↑ 39.2% YoY ₹70.1 Cr ↑ 53.1% YoY ₹801.8 Cr ↑ 12.8% YoY ₹258.3 Cr ↑ 18.5% YoY ₹210.5 Cr N/A ₹157.8 Cr N/A Q2 FY27 H1 FY27 Note*: Calculated on standalone basis BOROSIL ,,,,11 2 Tenewables
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Realization Mechanics & Profitability Resilience 8 Fuel surcharge moderation and lower production impacted quarterly realizations and margins REALIZATION & FUEL SURCHARGE DYNAMICS Average Selling Price (ASP), INR per sq. m/mm 150.20 160.30 155.9 Q4 FY26 Q1 FY27 Q2 FY27 Q2 realizations moderated following a reduction in fuel surcharge amid lower gas prices. With the decline in gas prices proving short-lived, realizations have reverted near to Q1 FY27 levels in Q3. PROFITABILITY & COST SAVINGS 28.6% Reported EBITDA Margin INR 116.3 Cr EBITDA in Q2. Resultant impact due to decline in gross margins 78% Captive Power Solar-wind hybrid plant supplied 78% of renewable power needs. WHAT DROVE Q2 MODERATION? 01 | Lower Fuel Surcharge Fuel surcharge of ~₹9.50/sq. m reduced following a temporary decline in gas prices, leading to lower reported realizations. 02 | Lower Production Routine furnace maintenance led to a slight dip in production, weighing on gross margins. 03 | Normalization back expected from Q3FY27 With subsequent rise in production levels and increase in the selling price we expect earnings to revert back. 60% Capacity Expansion Increase in installed capacity from 1,000 TPD to 1,600 TPD, equivalent to ~6.5 GW to ~10.5 GW of module capacity. BOROSIL ,,,,11 2 Tenewables
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Solar Glass: Capacity Shortfall Creates a Large Market Opportunity Domestic Capacity vs. Demand Domestic Capacity (Current) 2,900 TPD (17.4 GW equivalent) Solar Glass Demand 10,400 TPD (~62 GW equivalent, same as 2025- 26) Supply Gap 7,500 TPD (~44.6 GW equivalent) Domestic solar glass production capacity is expected to rise gradually to 7,900 TPD (47.4 GW) by March 2027 — still leaving a supply gap, against demand of 10,400 TPD. Key Demand Drivers Government Support Has led to rise in solar installations to 45 GW (62 GW on DC basis) in 2025– 26. Expected to rise further as the Government focusing on removing bottlenecks in evacuation .Policy Direction Customs notification on 2nd June 2026 (9.71% CVD on imports from Malaysia). Global Supply Constraints Imports from China & Vietnam face higher anti-dumping duties in form of reference price until Dec’29. Growing Market Solar PV demand underpinned by new applications , storage and policy support. The Opportunity for Borosil Scale Domestic Supply Capture a larger share of the 10,400 TPD demand. Support Policy Goals Enable India's solar self-reliance and import substitution. Long-Term Growth Benefit from sustained demand and a wider supply gap. A persistent domestic supply gap supports capacity expansion and long-term market opportunity for Borosil Renewables. 9 MODULE OVERCAPACITY DOES NOT IMPLY SOLAR GLASS OVERCAPACITY Excess solar module capacity does not necessarily mean there is enough solar glass supply. j OROSIL -renew ables HB - 0 ~ 111 ~ 11111
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Financial Highlights- Standalone- YoY comparison 10 Revenue from Operation (In Cr.) EBITDA & Margins (%) PAT & Margins (%) Total Income (In Cr.) EBITDA & Margins (%) PAT & Margins (%) H1 FY26Q2 FY26 -7.3% 33.0% 28.6% -31.5% 19.1% 53.1% 12.1% 17.2% 711 802 H1FY26 H1FY27 12.8 % 18.5% 30.4% 31.2% -227 158 H1FY26 H1FY27 218 258 H1FY26 H1FY27 378 396 Q2FY26 Q2FY27 4.7% 126 116 Q2FY26 Q2FY27 46 70 Q2FY26 Q2FY27 . . . 7 7 ............................... ! I • =------ ............ . ................ ~ - I BOROSIL ,,,,11 2 Tenewables ···- . . .
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H1 & Q2 FY27 – Standalone Financial Performance 11 Particulars (Rs. Cr) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Revenue from Operations 396.2 378.4 4.7% 405.7 -2.3% 801.8 710.7 12.8% Other Income 10.9 1.8 503.2% 14.0 -22.2% 24.9 7.3 239.5% Total Income 407.0 380.2 7.0% 419.7 -3.0% 826.7 718.0 15.1% Total Expenditure 290.7 254.7 14.1% 277.7 4.7% 568.4 500.0 13.7% EBITDA 116.3 125.5 -7.3% 142.0 -18.1% 258.3 218.0 18.5% EBITDA Margin % 28.6% 33.0% (440) bps 33.8% (520) bps 31.2% 30.4% 80 bps Depreciation & Amortization 21.6 21.9 -1.0% 21.3 1.5% 43.0 43.6 -1.5% Profit Before Interest & Tax 94.7 103.6 -8.7% 120.7 -21.5% 215.4 174.4 23.5% Finance Cost 2.6 3.6 -27.3% 2.3 12.8% 4.9 7.8 -36.6% Exceptional Item - -33.9 - - - - -359.8 - Profit Before Tax 92.1 66.2 39.2% 118.4 -22.2% 210.5 -193.2 - Tax 21.9 20.3 7.8% 30.6 -28.4% 52.6 33.3 57.7% Net Profit 70.1 45.8 53.1% 87.7 -20.0% 157.8 -226.5 - PAT Margin % 17.2% 12.0% 520 bps 20.9% (370) bps 19.1% -31.5% - H1 & Q2 FY27 - Standalone Financial Performance BOROSIL 'f enewables
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Q2FY2027 Earnings Presentation Business Overview BOROSIL renew ables
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13 Borosil Renewables: India’s Leading Solar Glass Platform India’s first solar glass production line, establishing an early- mover advantage in a critical solar PV component. 1,000 TPD Current Solar Glass Capacity 1,600 TPD Planned Capacity 600 TPD Capacity Under Expansion (SG-4 & SG-5) 32.3% Revenue CAGR (FY19-26)* 31.6% EBITDA Margin FY26* ~6.5 GW Module Manufacturing Equivalent ~10.5 GW Module Manufacturing Equivalent 100+ Domestic Customers Served 45.5% EBITDA CAGR (FY19-26)* 46 days Net Working Capital FY26* Company at a Glance Developed the world’s first antimony-free textured solar glass with patented technology. Developed the world’s first fully tempered 2mm textured solar glass, addressing the industry shift towards lighter, high-strength modules. Offers specialized solutions including high-transmission, anti- glare, anti-soiling, anti-reflective and matt-matt solar glass, tailored to evolving module technologies. Developed a lower-carbon, resource-efficient manufacturing process, with a reported 22% lower carbon footprint versus the default glass-manufacturing benchmark. Note*: Including other income. Calculated on standalone basis BOROSIL ,,,,11 2 Tenewables
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Business Model 1. Core Business: Technology-led Solar Glass Manufacturing BRL manufactures high-performance solar glass and supplies it directly to solar module manufacturers across domestic and international markets. RAW MATERIALS High-quality raw materials sourced from trusted suppliers → SOLAR GLASS MANUFACTURING Large-scale furnace technology for consistent quality & scale → VALUE ADDITION Texturing → SOLAR MODULE MANUFACTURERS Direct supply to 100+ domestic customers → END APPLICATIONS 100+ Domestic Customers Multiple Product Variants & Coatings Global Presence Domestic + Export Markets Strong Demand Driver Backed by Solar Module Manufacturing Growth 14 Coatings (AR/AS) Anti-glare & Special Finishes Tempering Customized Sizes Utility Scale Rooftop Solar Pump Floating Solar BIPV Greenhouse HOW BRL CREATES VALUE Scale Manufacturing Large-scale operations enable efficiency, consistency and cost competitiveness. Product Differentiation Wide range of thicknesses, compositions, finishes and coatings to meet evolving module requirements. Customer Customisation Customized sizes including larger sizes, SAM glass and various thicknesses based on customer needs. Domestic Supply Advantage India’s largest solar glass manufacturer offering shorter lead times and flexible order quantities. CUSTOMER & MARKET MODEL Domestic Module Manufacturers Direct supply to India’s growing solar module manufacturing ecosystem. International Customers Established presence in Western Europe & Türkiye; expanding across Americas and MENA. Diverse Applications Serving utility, rooftop, solar pump, floating solar, BIPV and greenhouse segments. e 0 I -w 0 e e @) Cl 0-0--0 BOROSIL ,,,,11 2 Tenewables ~ 1ml □ □
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Business Model 2. New Growth Adjacency: End-to-end Rooftop Solar Solutions Expanding downstream from solar glass into branded distributed solar solutions. Branded Components Leveraging trust & credibility of the Borosil brand End-to-End Solutions Panels + Inverters + Batteries with installation & service Scalable & Asset-Light Low-risk, phased approach to build presence Long-Term Opportunity Riding the structural growth of India’s rooftop solar market/ C&I/ solar pump 15 1. PRODUCT → SOLUTION 2. LOW-RISK MARKET ENTRY 3. TARGET CUSTOMERS 4. DUAL-CHANNEL MODEL SOLAR PANELS >600W INVERTERS 3–150 kW BATTERIES 12.8–51.2V Co-branding OEM partnership CKD assembly COMPLETE ROOFTOP SOLAR SOLUTION Installation | Commissioning | After-Sales Service Pilot-led approach → Build market acceptance → Progressively deepen participation INITIAL GEOGRAPHIC FOCUS Gujarat | Rajasthan | Uttar Pradesh | West Bengal | Maharashtra + + Residential Rooftops 1 – 10 kW C&I Rooftops Up to 1 MW PM Kusum Component A 500 KW- 2.5 MW DISTRIBUTOR / SI NETWORK • Wider market reach • Network-led installations ↑↓ DIRECT CUSTOMER • End-to-end execution • Stronger service relationship . . . ••1 ■ II y } BOROSIL ,,,,11 2 Tenewables 8 e
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16 Global Presence A global presence with products matching international standards and quality requirements The largest manufacturer of solar glass in India, offering lower lead times and flexible order quantities, supplying over 100 domestic customers The majority of international customers are based in Western Europe and Turkey. The company has expanded its outreach to geographies such as the Americas and MENA while nurturing and growing existing markets and adding new customers New segments being developed include glass for Greenhouses and Building-Integrated Photovoltaics (BIPV) N. America USA Canada S. America Mexico Brazil Africa Egypt Europe • Netherlands • Germany • France • Portugal • Italy • Bulgaria • Turkey • Jordan • Greece • Croatia Asia India Sri Lanka Russia BOROSIL renew ables , /\ 4K.'...':e,,,._,, ·~, ·~ .... \ \ ' . "\,
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Q2FY2027 Earnings Presentation What Set us Apart BOROSIL renew ables
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Maximizing Power Generation via Superior Transmission Direct Benefit: Superior transmission performance across all wavelengths ensures higher panel efficiency and higher power output for solar modules — in every sunlight condition. 18 Advanced glass formulations are engineered specifically to maximize solar-spectrum absorption and optimize electricity output - translating into superior panel efficiency and higher power generation under all sunlight conditions. Spectral Band Borosil Company X Company H Company Y Standard (380–780 nm) 91.76% 91.73% 91.74% 91.41% Extended (380–1100 nm) 91.68% 91.51% 91.58% 91.39% Infrared (380–2500 nm) 91.31% 91.00% 91.08% 91.18% BOROSIL ,,,,11 2 Tenewables
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19 Unrivalled Long-Term Durability PID Mitigation Low-sodium formulation drastically reduces the risk of Potential Induced Degradation, preserving the voltage and output profile of modules over their 25+ year lifespan. High Hydrolytic Resistance Excellent resistance to weather-induced chemical deterioration — preventing clouding or surface degradation over time. Self-Cleaning Coatings Premium anti-reflective (AR) and anti-soiling (AS) coatings improve sunlight absorption while lowering maintenance and manual cleaning costs. Engineered for Decades of High-Performance Low-sodium glass structures maintain pristine chemical and visual properties even in high- moisture and corrosive environments — protecting module output across a 25+ year lifespan. BOROSIL 2 fenewables • • •
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Stress Endurance — BRL vs. Regulatory Standard (MPa) 4x Stronger than standard annealed glass High-grade thermal tempering processes deliver extreme impact resistance — enabling thinner, lighter glass without compromising safety 180 MPa Stress endurance vs. the 90 MPa European standard (EN 12150-1) 2x Stronger than standard heat-strengthened glass Innovation - 2.0mm glass with exceptional Mechanical Strength Borosil (180 MPa) EN 12150-1 Standard (90 MPa) Maximum Safety Profile: The fully tempered structure breaks into tiny, rounded, non-hazardous particles if shattered, eliminating sharp shards — critical for rooftop and utility-scale installer safety. Produced World-first fully tempered 2.0 mm textured solar glass 20 BOROSIL ,,,,11 2 Tenewables {Q} "T"
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21 Ecological Leadership Antimony-Free Solar Glass First global solar glass company to run fully antimony-free (toxic element) textured glass production — holding a registered patent for this green technology, branded NoSbEra. Lower Carbon Footprint A formal Life Cycle Assessment confirmed BRL maintains a 22% lower carbon footprint than the global baseline for glass manufacturing. Circular Economy Integration Renewable captive power usage in H1FY27 at 87%, supported by lower fuel consumption per kg of glass and lower capex per ton of capacity versus domestic peers. Sustainable Production: Eco-Conscious Patents BOROSIL ,,,,11 2 Tenewables • • •
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22 Investment Thesis First-Mover Advantage with Deep Sector Expertise Long-Term Customer Relationships Driving Volume Growth ~20% Lower Capex through Brownfield Expansion Largest Pure Merchant Player with Volume Scale Strong Balance Sheet with Net Cash Position BOROSIL ,,,,11 2 Tenewables
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Growth of Installed Solar Power Generation Capacity in India (GW) 23 Industry Overview: Rising India Solar Demand Total Installed Power Generation Capacity in India 559 GW as of 30th Sep’26 (in GW) Renewable Power Generation capacity in India ~247 GW as of 30th Sep’26 (in GW) Thermal (Coal+Lignite+Gas+Deisel) 251, 45% Renewables 247, 44% Large Hydro 52, 9% Nuclear 9, 2% 12.3 21.6 28.2 34.6 40.1 54.0 66.8 81.8 105.6 150.3 9.4 6.5 6.4 5.5 13.9 12.8 15.0 23.8 44.6 20.8 21.6 28.2 34.6 40.1 54.0 66.8 81.8 105.6 150.3 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 6MFY27 Existing Addition 171 Solar,171, 69% Wind, 59, 24% Bio power, 12, 5% Small Hydro, 5, 2% Out of total installed power generation capacity of ~559 GW as of Sep 2026 in India, the share of renewables has reached 44% (~247 GW). The share of solar (171 GW) has further increased to about 69% of the renewable capacity compared to 67% (150 GW) from the year ended FY26. The target for solar has since been raised to install 280 GW by 2030 indicating a huge potential. Source: CEA BOROSIL ,,,,11 2 Tenewables • ■ ■ •
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Growth Drivers National Solar Mission Targets of 280 GW installed solar capacity to be achieved by 2030. Now raised to 500 GW by 2036 1 SECI/IREDA Tenders Tenders by SECI /IREDA for large ISTS connected projects assuring offtake and payment security to the project developers 2 PM Suryaghar Yojana This scheme aims to provide rooftop solar power systems to one crore households across the country expecting to add 30 GW of capacity. 3 Demand for RTC Renewable Power Upcoming Hybrid (Wind+Solar) tenders and falling prices of storage batteries are expected to drive demand for solar power 4 Solarization of Railways 500 MW of Rooftop Generation Capacity by 2022 and 20 GW of Land Capacity to be installed by 2030 for self sustenance 5 National Tariff Policy Enforcing the Renewable Purchase Obligation targets to promote constant growth of Solar Energy 6 Kusum Program The Union Budget 2018– 19 has allocated a total of Rs. 48,000 crores over the following ten years for this effort. The government has extended PM-KUSUM scheme till March 2027 where PPAs/NTPs were issued by 31st December 2025 7 PLI Scheme Total Production Linked Incentive (PLI) granted in two tranches is about Rs. 18,500 Cr. This will propel domestic manufacturing of high efficiency solar modules and solar cells with further backward integration to create a robust eco system to ensure a robust supply chain for high growth. 8 CPSU Program 12 GW of Solar Projects proposed for Captive Power Consumption (2019 – 2025) with domestic content requirement for Solar Cells and Modules to boost Domestic Manufacturing. 8.2 GW capacity awarded to CPSUs. 9 Demand drivers Commercial & Industry (C&I) is showing phenomenal growth. Data centers, Green hydrogen and EV penetration leading to further surge in demand for power 10 24 BOROSIL ,,,,11 2 Tenewables I
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25 Our Capacity Planning 180 210 210 210 210 210 240 240 240 240 240 300 350 550 550 550 600 180 450 750 1350 1000 1600 CY18 CY19 CY22 CY24 Jul-25 Est FY27 Combined Solar Glass Capacity Planned 1600 TPD (〜10.5 GW) Furnace 1 (India) Furnace 2 (India) Furnace 1 (Europe) Furnace 3 (India) Furnace 4&5 (India) Combined Installed Capacity (TPD)-Projected Solar glass demand outlook is positive looking at the growth in module manufacturing. The expansion plan was re-activated immediately upon imposition of Anti dumping duty on imports of solar glass and is on schedule for furnace commissioning in March 2027 1350 TPD750 TPD450 TPD180 TPD 1600TPD-350 TPD Board approved setup of two new furnaces (SG-4 & SG-5), each of 300 TPD, totaling 600 TPD) to be commissioned by March 2027 Rebuilt 1st furnace with enhanced capacity of 210 tons/day Added 2nd furnace with 240 tons/day capacity Running at full capacity Acquired Interfloat Group the largest solar glass manufactu -rer in Europe with a capacity of 300 TPD Addition of 3rd furnace with a capacity of 550 TPD during Q1 of CY23. Furnace in Europe was rebuild to a higher capacity of 350 TPD during Q2 of CY23 GMB Glasmanuf aktur Brandenbur g GmbH (350 TPD), German subsidiary, files for insolvency C18 CY20 CY22 CY23-24 Est FY27CY25 BOROSIL ,,,,11 2 Tenewables ■ ■ ■ ■ ■
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26 Where are we Headed Strong Current Scale Turnover in FY26 with 1,000 TPD solar glass facility in operation ₹1,535 Cr Next Phase of Growth Additional capacity to be commissioned by end of March 2027, scaling total capacity to 1,600 TPD +600 TPD Higher Revenues Ahead Expected turnover at full- year run rate post expansion (~60% increase vs. FY26) ~₹2,500 Cr Margin Expansion Through Scale Estimated operating leverage in EBITDA margin with higher scale and efficiencies ~3% Strong Balance Sheet & Future Ready ✓ To remain net cash positive even after entire capex on 600 TPD expansion (as on 31 Mar 2027) ✓ Cash accruals over the next 2 years expected to fund the next phase of growth; multiple options under evaluation Expanding capacity. Strengthening profitability. Building a brighter future. BOROSIL 2 fenewables
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Q2FY2027 Earnings Presentation Annexure BOROSIL renew ables
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28 Borosil Group Borosil Limited One of the Market leaders in consumer glassware and Kitchenware Borosil Renewables Limited INDIA’s first and largest solar glass manufacturer with a capacity of 1000 TPD (~6.5 GW) Borosil Scientific Limited One of the leading players in Laboratory Consumables, Laboratory Equipment, Pharma Primary Packaging and Process Sciences More than 60 Years of Excellence *As on 29th Oct 2026 ~₹5792* cr Market Cap ~₹2906* cr Market Cap ~₹944* cr Market Cap Group Structure
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29 Our Journey 1st furnace rebuilt to increase capacity to 210 TPD. 2nd furnace of 240 TPD added on schedule to increase total capacity to 450 TPD Introduction of Shakti (high efficiency solar glass in matt-matt finish) and Selene (anti- glare solar glass) 2010 2013 2014 2016 2017 2018 2019 Developed the world's first antimony free textured solar glass, patented technology BRL sets up India's first and only solar glass production line with a 180 ton per day (TPD) facility in Bharuch, Gujarat Produced the world's first fully tempered textured solar glass in 2mm thickness Introduced anti- reflective coating for solar glass, a first of its kind in India 2021 2022 2023 2025 2026 Acquisition of 86% stake in Interfloat group, Europe’s largest solar glass manufacturer German Subsidiary GMB Glasmanufaktur Brandenburg GmbH with 350 TPD, files for insolvency. Commencement of work on 600 TPD plant (SG 4&5) DSIR, Govt Of India recognition for in- house R&D Unit in Q1 FY27 3rd furnace with 550 TPD capacity: commissioned in Q4 FY23 National award 2021 for successful commercialization of indigenous technology BRL’s journey has been marked with innovation and firsts in the industry… BOROSIL ,,,,11 2 Tenewables T l l l l l
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30 Product Portfolio MARKET SEGMENTS • High-Performance Solar Glass for • Utility-scale ground solar PV • High-Performance Green House • Solar Rooftop • Bifacial, Glass- glass, BIPV • Solar Thermal projects CUSTOMIZED SIZES • Glass for 96/72/60 cells module (and other sizes specified by the customer) • Capable to make larger sizes • SAM Glass : Glass for Small Area Modules GLASS COMPOSITION • Borosil Solar Glass with low Antimony content • NoSbEra: Borosil Solar Glass – without Antimony ADDITION OF VALUE ADDED PRODUCTS • Grid Printed Back Glass for Bifacial Modules • Shakti / Clear : High Efficiency Matt – Matt Finish • Selene / Deflect : Anti-Glare Solar Glass • GMB Vetrasol: For Greenhouses GLASS IN VARIOUS THICKNESSES • 2 mm • 2.5 mm • 2.8 mm • 3.2 mm • 4 mm SOLAR GLASS WITH COATINGS • Anti Reflective Coatings (AR) • High Transmission AR Coating (HTAR) • Anti Soiling Coatings (AS) • AR + AS coatings BOROSIL ,,,,11 2 Tenewables 001
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31 Driving Sustainable & Responsible Growth ❑ Aim to achieve Carbon neutral operations ❑ Explore waste management opportunities ❑ Transition to low carbon energy Our Strategic ESG Priorities ❑ Become an equal-opportunity employer ❑ Integrate suppliers as business partners ❑ Building resilient communities ❑ Focusing on highest ethical standards ❑ Creating a risk management framework ❑ Creating a strong IT infrastructure ❑ Enhancing transparency & fairness ❑ ESG target disclosures and dedicated dashboard to track emissions. ❑ Increase the ratio of sales in reusable packaging material and explore further opportunities. ❑ Currently over 75% total electricity from renewable sources. Our Actions ❑ Company-wide strategic supply chain management program launched ❑ Multiple community development programs launched on a need basis ❑ A group-wide code of conduct applicable to all employees and leadership. ❑ ESG risks are incorporated in the risk management framework. ❑ A group-wide program on the evaluation of IT risks ❑ Appointed Ombudsman to address grievances. Greener Planet Social Equity Robust Governance BRL aims to disclose quantifiable targets in short to medium term and transparently report performance against the targets. . . . BOROSIL ,,,,11 2 Tenewables
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32 Board of Directors Mr Ashok Jain Non-Executive Director Long experience in Corporate Sector – Finance, Commercial, Sales and General Management. Mr Sunil Roongta Whole-Time Director & CFO Long experience in senior finance roles with extensive expertise in Finance, Accounting, Audit, Taxation, and Business Strategy. Mr P .K. Kheruka Executive Chairman Industrialist having Rich experience in the Glass Industry Mr Shreevar Kheruka Vice Chairman Also the Managing Director of Borosil Limited with more than 17 years Corporate experience. Mr Raj Kumar Jain Independent Director Wide experience in Statutory Audit, Concurrent Audit, Revenue Audit, Stock Audit and has specialization in Investigation Audit. Ms. Vanaja N. Sarna Independent Director Retired Indian Revenue Service Officer, served Central Board of Excise and Customs in several capacities including as its Chairman. She was also the first Chairman of Central Board of Indirect Taxes and Customs Mr Akshaykumar Chudasama Independent Director A seasoned legal professional with over 3 decades of experience. He is the Managing Partner of Shardul Amarchand Mangaldas & Co. and heads the firm’s practice in the Mumbai Region. Mr. Shailendra Shukla Independent Director A distinguished engineering professional with over 42 years of experience, has held leadership roles for 24 years including as a Chairman, CEO, MD, and Director in the Power, Renewable Energy, and Biofuel sectors. BOROSIL ,,,,11 2 Tenewables
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Thank You Dhaval Patel Head – Investor Relations Dhaval.patel@borosil.com Khushbu Singhania khushbu@goindiaadvisors.com +91 85911 90410 Tanishka Tanvi tanishka@goindiaadvisors.com +91 9297761958 BOROSIL renew ables Go India Advisors Unbiased g Bal.1ncod