Multibagger solar glass stock rose 1,100% in three years; climbed 7% today

Shares of solar glass maker Borosil Renewables Ltd have rallied over 1,100% in the last three years. The midcap stock, which closed at Rs 37.55 on April 17, 2020 rose to a high of Rs 481.70 on the BSE today, amounting to a rally of 1182% during the period. An amount of Rs 1 lakh invested in the shares of Borosil Renewables three years ago would have turned into Rs 12.82 lakh today. In comparison, Sensex has risen 88.17 per cent during the period. 

In the current session, Borosil Renewables stock rose up to 7.03% to Rs 481.7 today against the previous close of Rs 450.05 on BSE. Earlier, the stock opened flat at Rs 450.05 on BSE. It hit a 52 week high of Rs 833 on April 25, 2022 and a 52 week low of Rs 380.05 on March 28, 2023. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 53.6, signaling it's trading neither in the overbought zone nor in the oversold zone. Borosil Renewables shares have a beta of 0.8, indicating low volatility in a year. Borosil Renewables shares are trading higher than the 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.  

The share has lost 29.06% in a year and declined 6.7% this year. Total 1.01 lakh shares of the firm changed hands amounting to a turnover of Rs 4.88 crore on BSE. Market cap of the firm rose to Rs 6176 crore.  

12 promoters held 61.62 per cent stake in the firm and 2.68 lakh public shareholders owned 38.38 per cent or  five crore shares for the quarter ended March 2023. Of these, 2.62 lakh public shareholders held 3.33 crore shares or 25.55% stake with capital up to Rs 2 lakh. Only two shareholders with 0.87% stake held capital above Rs 2 lakh for the quarter ended March 2023.  

In the December quarter of last fiscal, net profit of Borosil Renewables fell 50.86% to Rs 22.47 crore against Rs 45.73 crore during the quarter ended December 2021. Sales fell 4.23% to Rs  161.39 crore in Q3 against Rs 168.51 crore during the quarter ended December 2021.    

According to annual earnings for the fiscal ended March 2022, the firm reported a 85.02 per cent rise in profit to Rs 165.85 crore against a profit of Rs 89.64 crore in the year ago period.  Losses for March 2020 fiscal stood at Rs 0.45 crore. 

Sales zoomed 28.26% to Rs 644.22 crore in the last fiscal against Rs 502.27 crore for the fiscal ended March 2021. Sales for the fiscal ended March 2020 stood at Rs 271.16 crore.  

About the Company  

Borosil Renewables is engaged in the manufacturing of patterned glass and low iron solar glass for application in photovoltaic (PV) panels, flat plate collectors and greenhouses. It offers various product range of solar glasses, which includes antimony free solar glass, anti-reflective and anti-soiling coated solar glass and anti-reflective and shipments in reusable/returnable packaging to cut down need for wood. It is a manufacturer of various ranges of volumetric glassware and exports it to over 50 countries across the world.  

 

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