Borosil Renewables surges on planning to invest Rs 1,500 crore in two years to expand capacity
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Borosil Renewables is currently trading at Rs. 582.60, up by 15.70 points or 2.77% from its previous closing of Rs. 566.90 on the BSE.
The scrip opened at Rs. 537.00 and has touched a high and low of Rs. 607.55 and Rs. 537.00 respectively. So far 95173 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 833.00 on 25-Apr-2022 and a 52 week low of Rs. 250.00 on 18-Jun-2021.
Last one week high and low of the scrip stood at Rs. 638.95 and Rs. 537.00 respectively. The current market cap of the company is Rs. 7676.62 crore.
The promoters holding in the company stood at 61.69%, while Institutions and Non-Institutions held 4.85% and 33.46% respectively.
Borosil Renewables is planning to invest Rs 1,500 crore over the next two years to expand its capacity by nearly 2.5 times and supply 15 GW of solar modules by FY25. The company will also invest in its German plant to increase its capacity to 500 TPD (tonnes per day) from 300 TDP now by 2023.
With these capacity augmentation, by FY25 the company will be able to supply 2,600 TDP of solar panel glasses that can generate 15 GW of power and make it the largest non-Chinese-owned company in the world. Adding all the domestic expansion will be in and around the company's Baruch facility in Gujarat.
Borosil Renewables is engaged in the manufacturing of low-iron-textured solar glass for applications in photovoltaic panels, flat-plate collectors, and greenhouses and is the first and only solar glass manufacturer in India.
