Borosil Ltd
NSE:BOROLTD
Borosil Ltd
Borosil Ltd. manufactures and supplies glassware products. The company is headquartered in Mumbai, Maharashtra and currently employs 753 full-time employees. The company went IPO on 2020-07-22. The firm conducts its operations in two business segments: Consumer Products and Scientific Products. The Company’s Consumer Products segment markets a range of products that cater to the cooking, serving and food storage needs of a modern Indian home. The Consumer Products segment includes microwaveable glassware products, storage containers, opal dining ware, kitchen appliances, lunch boxes and stainless-steel flasks. The Scientific Products segment caters primarily to the laboratory glassware and bench-top equipment needs of the pharmaceutical, research and development, education and healthcare segments of the market. In addition, it supplies primary packaging of vials and ampoules to the pharmaceutical industry.
Borosil Ltd. manufactures and supplies glassware products. The company is headquartered in Mumbai, Maharashtra and currently employs 753 full-time employees. The company went IPO on 2020-07-22. The firm conducts its operations in two business segments: Consumer Products and Scientific Products. The Company’s Consumer Products segment markets a range of products that cater to the cooking, serving and food storage needs of a modern Indian home. The Consumer Products segment includes microwaveable glassware products, storage containers, opal dining ware, kitchen appliances, lunch boxes and stainless-steel flasks. The Scientific Products segment caters primarily to the laboratory glassware and bench-top equipment needs of the pharmaceutical, research and development, education and healthcare segments of the market. In addition, it supplies primary packaging of vials and ampoules to the pharmaceutical industry.
Revenue Growth: Consolidated revenue for 9M FY26 reached approximately INR 912 crores, up 9% year-over-year, despite sector headwinds.
Hydra Segment Impact: 30% revenue decline in the hydra (bottle) segment due to supply issues—not demand weakness—was the main drag on overall growth.
Glassware Strength: Glassware sales grew 21% year-over-year, benefiting from a consumer shift from plastic to glass for health and hygiene reasons.
Margin Outlook: Operating EBITDA margin declined slightly to 16.2% from 17% last year, but management reiterated a clear path to low-20s margins as supply normalizes and cost initiatives ramp up.
Supply Chain Shifts: Domestic sourcing for small appliances rose to 60%, with a target of 85% next year, and local manufacturing ramp-up is expected to resolve hydra supply bottlenecks.
Capacity Expansions: New hydra facility (4 million units/year) to begin production in Q4, major solar plant commissioned, and brownfield glassware expansion planned.
Strong Cash & Balance Sheet: Robust cash flows (INR 130 crores) and a net cash position of INR 13 crores support ongoing investments.
