Thread by @itsnitinverma

#Coreportfoiliopick
#BorosilRenewables
Borosil Renewables (CMP - 92)
Disc : Invested with avg price -78. #renewablenergy #greenenergy

Borosil Renewables Limited is the only solar glass manufacturer in India. Company is promoted by Mr. Pradeep Kheruka. Management is one of the finest and conservative.

Company is into manufacturing of solar glass required in the manufacturing of solar module. Solar Modules are created by companies like Adani Green, Tata Power etc. Company has big clients and no client is responsible for more than 5% sales. So we'll diversified with least risk.

The company has a strong focus on innovation and known for its pioneering achievements like development of World’s First fully tempered 2 mm thin solar glass, solar glass with lowest iron content giving highest glass efficiency.

Company claims that it’s 2mm tempered glass provides 10-15% more power generation as well as extends life of module from 25 to 40 years. Which creates the ' moat' for company.

It has no competition in India. Most of large solar module manufacturers import solar glass from China and Malaysia. With 'Boycott China' and 'Aatmanirbhar Bharat' movement, company can see huge growth in coming years.

Raw materials to manufacture solar glass are soda ash and sand which are mostly purchased locally ( soda ash being a global commodity is imported sometimes if available at better price) Company imports some sodium antimonite from Belgium.

Company started with one furnace (SG1) with solar glass capacity of 130 Tons per day (TPD) which then enhanced to 180TPD. After refurbishing this SG1 company has installed another furnace (SG2) with capacity 240TPD. Total capacity now is 450 TPD.

Both furnaces have started producing from Dec 2019 and were running at full capacity before COVID shutdown happened around March end. They have restarted from 15th June and are running full capacity once again .

Company has planned to install another furnace with capacity (500TPD) which is more than double of current capacity by 2023. Which itself shows how big the opportunity is.

Risk -
1- Some big foreign company opens plant in India ending monopoly of Borosil Renewables.
2- Malaysia is a threat as it supplies solar glass to India in a cheap price. For this company has put application for anti-subsidy on Malaysian imports.

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