Q2 2025 Borosil Renewables Ltd Earnings Call Transcript
Key Points
- Borosil Renewables Ltd (BOM:502219) reported a significant improvement in financial performance with total sales increasing to INR264.94 crores in Q2 FY25 from INR241.40 crores in the previous quarter.
- The company's EBITDA performance improved to INR52.88 crores, representing a 20% margin, up from 12.3% in the previous quarter.
- Export sales increased, accounting for 13% of turnover in Q2 FY25, up from 9.3% in the preceding quarter.
- The company achieved a profit after tax of INR12.62 crores in Q2 FY25, compared to a post-tax loss of INR3.64 crores in the previous quarter.
- The Director General of Trade Remedies recommended the imposition of provisional antidumping duty on solar glass imports from China and Vietnam, which could protect domestic production.
- The exemption from basic custom duty on solar tempered glass imports ended, leading to a surge in imports and excess inventory at customer ends.
- The German operations faced significant challenges due to reduced demand and higher costs, resulting in negative EBITDA of INR16.85 crores for Q2 FY25.
- The company is experiencing difficulties in securing orders due to excess inventory and reduced demand in the German market.
- The consolidated performance of overseas subsidiaries declined, with net revenue decreasing and negative EBITDA increasing compared to the previous quarter.
- The company faces challenges from Chinese exporters who have slashed FOB prices by 22%, impacting the domestic market.
Ladies and gentlemen, good day, and welcome to the Q2 FY25 earnings conference call of Borosil Renewables Limited, hosted by Axis Capital Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rohan Gheewala from Axis Capital Limited. Thank you, and over to you.
Good evening, everyone. On behalf of Axis Capital, I'm pleased to welcome you all for the Q2 FY25 earnings conference call of Borosil Renewables Limited. We have with us the management represented by Mr. P.K. Kheruka, Executive Chairman; Mr. Ashok Jain, Whole-Time Director; Mr. Sunil Roongta, Whole-Time Director and Chief Financial Officer; and Mr. Balesh Talapady, VP, Investor Relations.
We thank the management for giving us the opportunity to host the call. We will begin with the opening remarks from the management, followed by an interactive Q&A session.
Thank you, and over to you, sir.
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