Borosil Renew shines bright

Borosil Renewables has posted a fantastic set of earnings for Q4FY21 with net profit coming in at Rs.67 crore v/s Rs.11crore in Dec and Rs.4 crore (YoY), a jump of 532% and 1551% respectively.

This was on the back a robust jump in revenue at Rs.197 crore v/s Rs.141 crore (QoQ) and v/s Rs.95 crore (YoY).

EPS for FY21 rose to Rs.7.56 v/s Rs.0.04 in FY20.

The Board of the company has also approved a rights issue to raise Rs.100 crore for part financing the installation of the first phase of expansion plan in the form of additional manufacturing facility (SG-4) with a capacity of up to 500 tonnes per day at its existing location in Bharuch, Gujarat.

Enthused by this performance the stock opened today 10% higher its UC of the day at Rs.285.35 and is now trading at Rs.282. Its 52-week high is at Rs.323.25.