homemarket NewsBorosil Renewables outperforms Dalal Street as company targets doubling capacity expansion
Borosil Renewables outperforms Dalal Street as company targets doubling capacity expansion
Borosil Renewables has done well on Dalal Street this week as the company looks for fast capacity expansion to meet the rising demand. Pradeep Kheruka, Chairman of the company, while speaking to CNBC-TV18, said that the expansion is based on an overall rise in market demand which he expects to quadruple in the next couple of years.
Borosil Renewables is trading around a percent in the green this week when the benchmark indices, Nifty and Sensex, moved by more than a percent in the red in the same period.
Speaking to CNBC-TV18, Borosil Renewables Chairman Pradeep Kheruka spoke about the company's expansion plans and the overall rise in market demand, which he expects will quadruple in the next couple of years.
Borosil Renewables is targeting expansion that will increase capacity from 450 tonnes per day currently to 1,000 tonnes per day by September.
“We expect the market to quadruple in the next couple of years in terms of module production. By that time we would be redoubling what we would have, which is from 1,000 tonnes to 2,100 tonnes. Even then, I do not see any difficulty in selling the glass because there would be a big demand for it," Kheruka said.
A big thrust is seen in the Indian solar manufacturing industry, he said. The government has introduced a Customs duty of 25 percent on cells and 40 percent on modules to boost the domestic industry. A production-linked incentive (PLI) scheme of Rs 24,000 crore has also been approved for the sector.
For the entire interview, watch the accompanying video
(Edited by : Abhishek Jha)
First Published: Jun 22, 2022 1:00 PM IST
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