Borosil Renewables hits 5% upper circuit on latest Atmanirbhar Bharat push; here is everything you need to know

"The expansion plans, which had been put on hold, are now back on track after receiving the approval from the company’s Board of Directors on December 18, 2024, on the basis of the announcement of a “Reference Price” for imports by the Ministry of Finance vide its notification dated December 04, 2024, which will act against cheap and dumped imports from China and Vietnam," the company said.

With this expansion, the manufacturing capacity of the company will increase from 1000 tons per day to 1500 tons per day, it added.

The reference price (US$ 673–677 for imports from China works out to a price of ₹143 per mm/square meter at the container yard) and will act as a minimum threshold for import prices from China, it added.

It may be recalled that solar glass manufacturing in the country was thrust into a crisis of survival due to the dumping of solar glass from Chinese-owned companies, with import volumes skyrocketing coupled with a sharp drop in prices.

Borosil Renewables Ltd. is one of the leading solar glass manufacturers and is part of the Borosil Group, which has been engaged in manufacturing a wide range of consumerware, scientific, and laboratory glass/glassware for more than six decades.

The company has products like Selene, an anti-glare solar glass suitable for PV installations near airports, and Shakti, a high-efficiency solar glass in a matt-matt finish.

Shares of the company have given a 13% return in the past 12 months.