Borosil Renewables swings to Q4 profit; EBITDA jumps sharply

Borosil Renewables Ltd. reported a sharp improvement in consolidated earnings for the quarter ended March 31, 2026, driven by stronger operational performance and lower cost pressures.

Revenue from operations for the March quarter rose 17.76% year-on-year (YoY) to ₹439.92 crore from ₹373.54 crore in the corresponding quarter last year. Total income stood at ₹448.86 crore compared to ₹385.45 crore in Q4 FY25.

The company reported a net profit of ₹169.12 crore for Q4 FY26 against a net loss of ₹29.53 crore in the corresponding quarter last year.

At the operating level, EBITDA surged to ₹136.38 crore during the quarter from ₹15.45 crore a year ago. EBITDA margin expanded sharply to 31.00% from 4.14% in Q4 FY25.

Total expenses declined to ₹328.35 crore compared to ₹403.87 crore in the year-ago period. The improvement was aided by lower employee costs, reduced depreciation expenses and better operating leverage.

Finance costs stood at ₹3.36 crore during the quarter against ₹9.54 crore in the corresponding quarter last year, while depreciation and amortisation expenses declined to ₹21.45 crore from ₹36.24 crore.

Profit before tax came in at ₹120.11 crore compared to a pre-tax loss of ₹18.50 crore in Q4 FY25.

The company also informed exchanges that its Board has approved a proposal to seek shareholders’ approval through an enabling resolution at the ensuing Annual General Meeting (AGM) for raising funds up to ₹750 crore. The proposed fundraising may be undertaken through multiple routes, including a further public offer, American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP), or a combination of these instruments, as and when required.

The sharp turnaround in profitability during the quarter comes amid growing focus on domestic solar manufacturing and increasing demand for renewable energy infrastructure in India.