Borosil renewables shatters a ceiling
for the past 11 years, the Kherukas manufactured all their products in India, even when there was no significant advantage. the company faced tough competition from cheaper Chinese and Malaysian products but fought it out by seeking import duties. finally, its efforts seem to pay dividends, with investors taking notice.
Borosil Renewables, the country’s only solar glass manufacturer, hit a 52-week high of Rs 748 on December 17. the bigger cheer came from the fact that the company, which was considered a penny stock early last year, has been able to demonstrate this turnaround. just in April 2020, the stock fell to Rs 33 levels, but since then there’s been no looking back.
imposition of duties and the self-reliant India mission helped the company quickly gain lost ground.
here, a 9.71% duty was imposed on solar glass imports from Malaysia for five years, making it cost-effective for companies to buy such products made domestically. the biggest beneficiary was Borosil Renewables.
Borosil Renewables is already increasing its capacity to cater to the rising demand. it is building a new furnace to expand existing manufacturing by 120% from the current 450 tonnes per day level.
as long as its biggest competition — imports — is kept at bay, Borosil Renewables’ growth trajectory looks bright. the bull run hasn’t ended yet.