Borosil Q2 FY27: PAT ₹12.8 & Rev ₹253.6 Cr

Investor Takeaways

Reported 9% YoY revenue growth to INR 253.6 crores in Q1 FY27

EBITDA margin declined to 14.6% due to input cost inflation and Hydra category impact

Management targets 18-20% EBITDA margin for FY27 through pricing and solar savings

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹253.6 Cr	+9%
Net Profit	₹12.8 Cr	N/A
EBITDA Margin	14.6%	Declined
EPS	₹1.07	N/A
OPM	4.97%	N/A

What Changed

The filing indicates a 9% YoY revenue increase to INR 253.6 crores in Q1 FY27, driven by 16.8% growth in glassware and 9.8% in larahOpalware. However, EBITDA margin declined to 14.6% from prior periods due to input cost inflation and adverse impact from the Hydra category. Management highlighted INR 125-150 crores of capex for glassware expansion, including new plants in Bharuch (Q3 FY27) and Jaipur (Q4 FY28), alongside solar capacity additions of 20MW to reach 61% renewable share. Net debt stands at INR 99 crores, with plans for additional solar projects and store openings in Gurugram, Pune, and Jaipur. Price hikes of 5-7% are expected to realize in Q2 onward to offset cost pressures. The company targets an 18-20% EBITDA margin for FY27 and a ROCE of 20-24% medium-term, supported by capacity expansions and solar savings of INR 27-28 crores.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Borosil Limited (BOROLTD)	44.81	8.67%	11.48%	3,140.37
UltraTech Cement Ltd (ULTRACEMCO)	39.73	11.19%	13.37%	3,39,912.42
Ambuja Cements Ltd (AMBUJACEM)	23.04	8.8%	4.86%	1,02,175.68
Shree Cement Ltd (SHREECEM)	54.06	7.03%	9.61%	88,116.58

Borosil's ROCE (11.48%) is comparable to Shree Cement (9.61%) but lower than UltraTech Cement (13.37%), while its P/E ratio (44.81) is higher than UltraTech (39.73) and Ambuja Cements (23.04), suggesting market expectations of future margin improvement.

Risks & Concerns

EBITDA margin declined to 14.6% from prior periods due to input cost inflation and Hydra category impact

Net debt of INR 99 crores requires monitoring amid expansion plans

No specific risks identified beyond margin pressure and execution of expansion projects

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q1FY27	253.59	12.8	4.97
Q4FY26	284.12	10.59	3.23
Q3FY26	338.75	23.95	9.2
Q2FY26	340.36	22.71	7.71

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About Borosil Limited (BOROLTD)

Construction Materials · Glass & Glass Products · Listed on NSE

Market Cap: ₹2,903.59 Cr P/E: 41.4 ROE: 8.7% ROCE: 11.5%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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