Borosil Renewables expects 30-35% margins going ahead; Q1CY21 saw solar glass price spike impact

Borosil Renewables margin may be in the vicinity of 30-35 percent going forward, Pradeep Kheruka, chairman, told CNBC-TV18.

“We are looking at a steady off-take from our production and there was a spike in prices for solar glass in the first quarter of the calendar year or the last quarter of our last financial year and that spike was a huge spike, almost went up by 90 percent, but it has come down as rapidly as it went up,” Kheruka said.

On margins, he said, “Going forward margins might be between 30 percent and 35 percent approximately and revenue would be about Rs 550 crore.”