Borosil Scientific Ltd(BOROSCI)

NSE: BOROSCIBSE: 544184

₹ 105.4-0.33%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 938 crNext results: 28 Oct 2026Website: www.borosilscientific.comUpdated: 24 Oct 2026

About

Borosil Scientific makes laboratory and process products across four divisions: Laboratory Consumables, Laboratory Instrumentation, Pharmaceutical Primary Packaging and Process Systems. Its portfolio has over 4,500 specialised products. The company describes itself as India's largest manufacturer of laboratory glassware and says 3 out of 4 laboratory glassware products in India carry the Borosil brand. Revenue was Rs 467.34 cr in FY26.^[1][2]

Business segments

Scientific segment (laboratory glass and equipment, and process systems): Rs 330.93 cr revenue, 70.8% of the total, in FY26 vs Rs 265.5 cr in FY25.^[3][4]
Glassware segment: Rs 130.79 cr revenue, 28.0% of the total, with EBIT of Rs -11.04 cr in FY26; revenue was Rs 122.13 cr in FY25.^[3][4]
In Q1 FY27, Glassware segment sales rose 19% YoY to Rs 38.4 cr, driven by Pharma Packaging.^[5]

Products and brands

LabQuest is the laboratory equipment brand. Its products include Nitrogen Estimation Systems, magnetic stirrers, water and dry baths, and vortex mixers.^[1]
The company makes tubular glass vials and ampoules from USP Type I glass for injectable drugs.^[1]
Process Systems supplies equipment from bench-top reactors to pilot plants for chemical and peptide synthesis, including peptide synthesizers and reactor systems.^[1]
A collaboration with a German partner took the company into Ultra-Pure Water instruments. The company also has patented bottle-top dispensers.^[1]
New products include a UV-visible spectrophotometer, e-Dispenser, e-Titrate and a range of environmental testing products (as of Q3 FY26).^[6]

Plants and capacity

The Nashik, Maharashtra plant has 200 Mn per annum of tubular glass vial capacity and 300+ Mn per annum of ampoule capacity (FY26).^[1]
The Vadodara, Gujarat facility makes customised glass process equipment, including complex glass components of up to 500 liters.^[1]
The Pune, Maharashtra Center of Excellence designs and produces laboratory instruments and houses an R&D unit and an application lab.^[1]
The company has a team of 100+ expert glassblowers. Its Bharuch plant received the TPM Significant Award in FY26.^[1]

Operating performance

Pharma Packaging sales grew 31.6% YoY to Rs 23.1 cr in Q1 FY27, vs Rs 17.3 cr (flat YoY) in Q2 FY26.^[5][7]
Lab Equipment (LabQuest) sales grew 31.4% YoY to Rs 12.3 cr in Q1 FY27, and Process Systems grew 8.6% to Rs 8.5 cr.^[5]
Lab Consumables sales were flat YoY at Rs 45.8 cr in Q1 FY27. Excluding the Ind AS 115 impact, the company puts growth at 7.4%.^[5]
Process System sales fell 53.4% YoY to ₹7.5 cr in Q2 FY26 because of a lower opening order book and deferred customer orders.^[7]

Customers and distribution

Pharmaceutical customers made up 58.27% of the Scientific segment's customer mix in FY25, academia 14.38% and government research 14.18%.^[6]
The company runs 4 warehouses (Bharuch, Ghaziabad, Kolkata, Chennai), which enable 95% same-day delivery.^[1]
The company exports to 90+ countries. US tariff uncertainty hit export sales in Q1 FY26.^[1][8]

Expansion and capex

Announced 22 Sep 2026: glassware capacity at Bharuch, Gujarat to rise from 15 lakh to 108 lakh units per annum. Capex is Rs 60 crores, funded from internal accruals and/or borrowings, with completion targeted by March 2027.^[9]
Management states a medium-term revenue CAGR target of 12-14% (Q1 FY27 call).^[5]

Recent developments

Operations at Ambad, Nashik were discontinued. The VRS settlement cost Rs 6.61 cr, booked as an exceptional item in 9M FY26.^[6]
Goel Scientific Glass Works Limited, a material subsidiary, is part of the Process Systems division. Its lower sales weighed on consolidated EBITDA in 9M FY26.^[1][6]
In Q2 FY26, management said it had appointed seasoned industry professionals to lead Pharma Packaging operations.^[7]

Market Cap

₹938 Cr

High / Low

₹181 / 97

Stock P/E

21.7

Price / Book

2.1

Book Value

₹50

EPS

₹3.9

No. of Shares

8.89 Cr

ROCE

12.1%

ROE

8.2%

OPM

11.0%

Debt / Equity

0.02

Sales

₹467 Cr

Net Profit

₹35 Cr

Promoter holding

68.3%

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