Borosil Ltd(BOROLTD)

NSE: BOROLTDBSE: 543212

₹ 235.45-2.34%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,816 crNext results: 29 Oct 2026Website: www.borosil.comUpdated: 24 Oct 2026

About

Borosil Limited is India's undisputed leader in consumer glassware and a leading consumerware brand, making borosilicate glassware, opalware (Larah), vacuum-insulated flasks (Hydra), cookware, and kitchen appliances across over 18,000 SKUs. The company operates India's first borosilicate glass pressware facility and one of India's largest opalware facilities, both in Jaipur. In FY26 it reported revenue from operations of ₹1,195.92 crores.^[1][2]

Business segments

Borosil reports a single Consumerware segment: revenue of ₹1,195.92 crore in FY26 vs ₹1,107.77 crore in FY25.^[1][3]
Glassware (borosilicate microwavables, tumblers, lunchboxes, storage): ₹295.5 crs in FY26, up 17.3% YoY - the fastest-growing segment.^[4]
Opalware (Larah brand - dinnerware and serveware): ₹411.9 crs in FY26, up 7.3% YoY.^[4]
Non-glassware (Hydra vacuum flasks, domestic appliances, stainless steel cookware): ₹463.7 crs in FY26, up 2.4% YoY - suppressed by BIS-driven Hydra supply disruption.^[4]

Products and brands

Portfolio spans approximately 18,000 SKUs across glassware, opalware, vacuum-insulated steel bottles and flasks, cookware, storage solutions, glass lunchboxes, and kitchen appliances.^[1]
Three main brands: Borosil (borosilicate glassware and consumerware), Larah (opalware), and Hydra (vacuum-insulated flasks and bottles for students, travellers and working professionals).^[1]
Aura Dinnerware, a premium glassware line made with proprietary ION Glass Technology, up to 1.5 times more durable than ordinary glassware; launched in Q1 FY27.^[1]
Thermoware range (insulated bottles, lunchboxes, casseroles) launched in Q1 FY27 targeting school and college students.^[5]

Manufacturing and capacity

Borosilicate pressware furnace at Jaipur: 25 TPD capacity; running at ~90% utilisation in Q1 FY27.^[1]
Two opalware furnaces at Jaipur: combined 84 TPD capacity; running at approximately full capacity in Q1 FY27.^[1]
Stylenest India Limited (subsidiary, incorporated 08.04.2025) flask facility has 3.6 million units annual capacity; two lines commenced commercial production on 30 June 2026, third line expected in Q2 FY27.^[1][5]
20 MWp captive solar plant with battery energy storage commissioned in Bikaner in Q1 FY27; solar covers ~61% of total energy requirement.^[5]
Borosil operates 2 plants and 7 offices nationally; no international plants or offices.^[1]
Q4 FY26 production at the Jaipur furnaces was temporarily hit by LPG supply restrictions arising from West Asia developments.^[1]

Key operating numbers

Glassware grew 16.8% YoY to ₹65.6 crs in Q1 FY27, entirely volume-driven.^[5]
Non-glassware grew 4.2% YoY to ₹98.1 crs in Q1 FY27, with Hydra still suppressed but offset by appliances and stainless steel cookware.^[5]
Opalware (Larah) grew 9.8% YoY in Q1 FY27.^[5]
Fuel cost as a share of sales rose from 2.9% in Q1 FY26 to 5.8% in Q1 FY27 due to the West Asia conflict; net input cost impact was ~₹10 crs in Q1 FY27.^[5]
Whiteware share of opalware sales reached ~10% in Q1 FY27, up from less than 5% in the prior year.^[5]

Distribution and customers

Distribution covers over 24,000 active retail billing outlets as of Q1 FY27, across general trade, modern trade, e-commerce, quick commerce, institutional and direct-to-consumer.^[1]
Quick commerce (Blinkit, Zepto, Swiggy Instamart, Flipkart Minutes, BigBasket) contributes approximately 35% of total e-commerce sales.^[1]
B2B channel serves corporates, hotels, restaurants, cafeterias and institutional buyers including the Canteen Stores Department (CSD).^[1]
Primary consumer target is homemakers and young urban professionals aged 25 - 45 in the mid- to upper-middle income segment.^[1]
Two Exclusive Brand Outlets opened in Q1 FY27 in Pune and Gurugram; per-store capex is ₹40 - 50 lakhs; a third store in Jaipur is planned.^[5]

Expansion and capex

New glassware plant at Bharuch (capex ~₹42 crore) for jars, bottles, tumblers and jugs; commissioning targeted by end of Q3 FY27.^[1][4]
Jaipur borosilicate furnace expansion from 25 TPD to 32 TPD with furnace rebuild and a third forming line (₹50 crore capex); commissioning targeted by end of Q4 FY28.^[1][5]
FY27 total capex estimated at ₹125 - 150 crs covering the two glassware projects, potential additional solar, and opalware furnace maintenance rebuild.^[5]
Maintenance capex including furnace rebuilds is expected at ₹30-35 crore each year (FY26 annual report).^[1]
Stylenest India Limited is funded by a term loan of 3,581.26 lakhs, with total assets of 6,179.91 lakhs as of FY26.^[1]
Additional captive solar of 6.5 MWp at Borosil Limited and 3 - 4 MWp at Stylenest India Limited under evaluation.^[5]

Recent developments

FY26 AGM sought enabling approval to raise up to ₹250 crore through QIP or other securities.^[1]
Approval sought for material related-party glassware purchases from BSL of up to ₹200 crore for FY28.^[1]
Board did not recommend a dividend for FY26, to conserve resources for growth.^[1]
BIS requirements and Quality Control Orders for insulated bottles and containers constrained Hydra sourcing and availability in FY26.^[1]
ICRA reaffirmed the long-term rating at AA- (Stable) and short-term rating at A1+ in FY26.^[1]
Solar Phase III (20 MWp, ₹75 crs) commissioned in Bikaner in Q1 FY27; expected to deliver ₹27 - 28 crs EBITDA savings in FY27.^[5]
Anti-dumping duty investigation on borosilicate glassware imports from China remained pending as of Q1 FY27.^[5]
Launched enterprise AI platform Borosil IQ on Snowflake's AI and Data Cloud for natural-language business queries.^[1]

Market Cap

₹2,816 Cr

High / Low

₹364 / 214

Stock P/E

40.2

Price / Book

3.2

Book Value

₹74

EPS

₹6.2

No. of Shares

11.96 Cr

ROCE

11.6%

ROE

8.8%

OPM

9.1%

Debt / Equity

0.15

Sales

₹1,196 Cr

Net Profit

₹75 Cr

Promoter holding

64.7%

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Borosil Ltd(BOROLTD)

About

Business segments

Products and brands

Manufacturing and capacity

Key operating numbers

Distribution and customers

Expansion and capex

Recent developments

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