Borosil Renewables Plans Rooftop Solar Push

31 Jul 2026 CW Team

Borosil has set an internal revenue target of about Rs 360 million (Rs 360 mn) for financial year FY27 and expects the new business to remain low margin because it is primarily a trading and system integration operation, Jain said, noting profitability would remain in the single digits. Management described the venture as early stage and said the plan is conservative to assess market acceptance.

On pricing, the company maintained fundamentals remain robust with reference pricing tied to import parity, and it said a significant portion of upcoming domestic solar glass capacity is intended for captive consumption, which will limit open market supply. Borosil indicated that new SG4 and SG5 furnaces are expected to be commissioned by the end of FY27 and that older SG1 and SG2 units will undergo planned refurbishment after the new lines start.

Each furnace overhaul will require about 75 days of shutdown followed by roughly 15 days to restart production, creating a near 90 day interruption for any furnace taken offline. The company described its exposure to the US market as very limited and said domestic demand and pricing in India are the primary focus for now, though the US could become a meaningful market later. Management added that a temporary fuel surcharge introduced amid higher energy prices has begun to ease and that reductions will be passed to customers, with moderated fuel costs expected to protect profitability despite potential softening in average realizations.

Borosil Renewables has moved beyond solar glass manufacturing into the rooftop solar segment with an integrated offering that supplies complete kits combining solar modules, inverters and batteries rather than selling components separately, Jain explained. The firm will position the kits as homeowner solutions and will initially focus on the residential rooftop market before entering the commercial and industrial segment. The strategy is designed to use existing channels while manufacturing focus remains on glass. Borosil has set an internal revenue target of about Rs 360 million (Rs 360 mn) for financial year FY27 and expects the new business to remain low margin because it is primarily a trading and system integration operation, Jain said, noting profitability would remain in the single digits. Management described the venture as early stage and said the plan is conservative to assess market acceptance. On pricing, the company maintained fundamentals remain robust with reference pricing tied to import parity, and it said a significant portion of upcoming domestic solar glass capacity is intended for captive consumption, which will limit open market supply. Borosil indicated that new SG4 and SG5 furnaces are expected to be commissioned by the end of FY27 and that older SG1 and SG2 units will undergo planned refurbishment after the new lines start. Each furnace overhaul will require about 75 days of shutdown followed by roughly 15 days to restart production, creating a near 90 day interruption for any furnace taken offline. The company described its exposure to the US market as very limited and said domestic demand and pricing in India are the primary focus for now, though the US could become a meaningful market later. Management added that a temporary fuel surcharge introduced amid higher energy prices has begun to ease and that reductions will be passed to customers, with moderated fuel costs expected to protect profitability despite potential softening in average realizations.

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