Q2 Results: Borosil Bounces Back, Converts Losses Into Profit

Indian solar glass manufacturer Borosil Renewables, which had been struggling with losses over the past few quarters, has now staged a strong comeback. The listed solar company reported positive growth in revenues on both a year-on-year (YoY) and quarter-on-quarter (QoQ) basis. Moreover, it successfully turned its losses into profit in the second quarter (Q2) of the current financial year.

The company reported a total revenue of ₹378.88 crore in Q2 FY26, compared to ₹346.58 crore in Q1 FY26 and ₹373.09 crore in Q2 FY25. On a YoY basis, this represents a 1.5% increase in revenue, while on a QoQ basis, revenues rose by 9.3%.

H1 Results 

Borosil also released its financial results for the first half (H1) of the current fiscal year. As per the data, the Mumbai-based company posted a total revenue of ₹725.45 crore, compared to ₹745.45 crore in the corresponding period of the previous year, marking a 2.5% decline YoY.

In terms of profitability, the firm reported a net profit of ₹61.58 crore in Q2 FY26, compared to a loss of ₹203.49 crore in Q1 FY26 and a loss of ₹13.13 crore in Q2 FY25. Thus, on a YoY basis, the company achieved an impressive 4.7-fold turnaround in its financial performance.

What Led To This Change 

The company which saw a dent to its avenues due to the intrusion of allegedly dumped cheap solar glass from countries like China is now on bolsetered with the imposition of anti-dumping duties and customs duty against imports of solar glass into India. This led to a lesser competition for the company which also pushed its to work towards capacity expansion and diversification. The firm has also halted its operations in Germany and reduce the financial burden due to that utility.