In Short:
Borosil aims to double its revenue to ₹7,000 crore in four years, driven by growth in glassware, lab equipment, and solar products. They plan to invest ₹250 crore for expansion, including a new plant in Gujarat and improvements in Jaipur. Challenges include competition from Chinese firms in the solar sector. Nonetheless, they foresee substantial growth in the glassware market as consumer preferences shift away from plastic.
Big Ambitions for **Borosil**: Aiming for ₹7,000 Crore by 2027
In an exciting announcement, **Borosil**, a key player in the fields of glassware, laboratory equipment, and solar glasses, is setting its sights high. The company is on a mission to double its revenue to an impressive ₹7,000 crore over the next four years! This ambitious growth is expected to be driven by double-digit growth across all its business verticals, as shared by **Shreevar Kheruka**, the Executive Vice Chairman of the Borosil Group.
The Borosil Group Breakdown
The **Kheruka family**, the visionary promoters behind Borosil, operates through three publicly listed entities: **Borosil Ltd**, **Borosil Renewables Ltd**, and **Borosil Technologies Ltd**. As part of their strategic roadmap, they expect to reach approximately ₹3,500 crore in revenue by FY25.
Investments on the Horizon
To support this growth, Borosil plans to invest a substantial ₹250 crore aimed at expanding production and enhancing capacity. A significant chunk of this investment, around ₹150 crore, is earmarked for establishing a new plant in **Gujarat** for **Borosil Ltd**, which specializes in glassware and cookware products.
In addition, Borosil is also focusing on its facility in **Jaipur**, where it has already invested ₹450 crore to boost production capabilities. An additional ₹100 crore is planned for further efficiency improvements and capacity enhancements.
Looking Ahead: More Opportunities
As the company paves the way for its future, Kheruka hinted at the potential for further acquisitions, particularly in the kitchen space. “We are ready for more opportunities,” he explained, referring to the strategic moves Borosil has undertaken in recent years.
Reflecting on Growth
Reviewing Borosil’s journey, Kheruka noted that in 2020, the group reported revenues around ₹950 crore, which is set to grow to approximately ₹3,500 crore by 2025—a remarkable growth of nearly 3.5-4 times in just five years!
However, Kheruka acknowledged the challenges ahead. He pointed out that achieving similar growth in the next five years might be tough due to burgeoning competition from **Chinese companies**, particularly in the **solar glass** sector, who are exporting products at significantly lower prices.
“While it may be challenging to grow by 3.5 times again, I believe we can at least double our revenues,” he stated. He further elaborated that despite headwinds, **Borosil Renewables** has the potential to double its capacity in the next three years if favorable policies are established.
Revenue Predictions
Kheruka estimates that **Borosil Renewables** could see revenues reach ₹1,300-1,400 crore and that the scientific business may approach ₹500 crore, with growth projections at 12-14%. This bodes well for the company’s goal of reaching ₹7,000 crore by 2027.
Recent Financial Performance
In the financial year ending March 31, 2024, **Borosil Ltd** reported revenues of ₹942.25 crore, while **Borosil Renewables** recorded consolidated revenues of ₹1,369.28 crore. Meanwhile, **Borosil Scientific**, which went public in June after demerging from Borosil Ltd, achieved a consolidated revenue of ₹394.57 crore in FY24.
Market Trends and New Ventures
Kheruka, who also serves as the Managing Director of **Borosil Ltd**, sees bright prospects in the glassware market as urban consumers gradually shift from plastic products due to rising disposable incomes. “We’re considering an investment of ₹150-200 crore for another Borosil glass tank and exploring opportunities outside glass as well,” he revealed. Specifically, Borosil plans to invest around ₹100 crore to produce insulated steel bottles, a product currently imported from abroad.
Stay Tuned for More
With **Borosil** charting a clear path for growth and innovation, the next few years promise to be thrilling times for the company and its stakeholders.
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