BOROSIL RENEWABLES LIMITED

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May 12, 2025 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block

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o, Eco-Conscious & ESG Journey 10. Awards & Accolades 11. Shareholding Pattern & Board of Directors 12. Abbreviations 3 Our Vision “To be the most Customer Centric Company” Purpose “Pioneering a s

8.5GW

ited INDIA’s first and largest solar glass manufacturer with a combined capacity of 1350 TPD** (~8.5GW) One of the Market leaders in consumer glassware and Kitchenware One of the leading players in L

₹7055

in Laboratory Consumables, Laboratory Equipment, Pharma Primary Packaging and Process Sciences ~₹7055* cr Market Cap ~₹3788* cr Market Cap ~₹1093* cr Market Cap *As on 9th May 2025 - NSE **Includ

₹3788

es, Laboratory Equipment, Pharma Primary Packaging and Process Sciences ~₹7055* cr Market Cap ~₹3788* cr Market Cap ~₹1093* cr Market Cap *As on 9th May 2025 - NSE **Includes 350 TPD (2GW) capacit

₹1093

, Pharma Primary Packaging and Process Sciences ~₹7055* cr Market Cap ~₹3788* cr Market Cap ~₹1093* cr Market Cap *As on 9th May 2025 - NSE **Includes 350 TPD (2GW) capacity of German Subsidiary

2GW

Cap ~₹3788* cr Market Cap ~₹1093* cr Market Cap *As on 9th May 2025 - NSE **Includes 350 TPD (2GW) capacity of German Subsidiary 5 Standalone Q4/Full Year FY25 P&L 6 Particulars (₹ Crs)Q4FY25Q3

43.9%

culars (₹ Crs)Q4FY25Q3FY25Q4FY24YoY Change%QoQ Change%FY25FY24YoY ChangeRevenue327.23 275.28 227.33 43.9%18.9%1,109.94 990.28 12.1%EBITDA77.0320.8913.13 486.9%268.8%180.51118.93 51.8%EBITDA %23.5%7.6%5.8%3

18.9%

s (₹ Crs)Q4FY25Q3FY25Q4FY24YoY Change%QoQ Change%FY25FY24YoY ChangeRevenue327.23 275.28 227.33 43.9%18.9%1,109.94 990.28 12.1%EBITDA77.0320.8913.13 486.9%268.8%180.51118.93 51.8%EBITDA %23.5%7.6%5.8%307.7%

12.1%

Q4FY24YoY Change%QoQ Change%FY25FY24YoY ChangeRevenue327.23 275.28 227.33 43.9%18.9%1,109.94 990.28 12.1%EBITDA77.0320.8913.13 486.9%268.8%180.51118.93 51.8%EBITDA %23.5%7.6%5.8%307.7%210.2%16.3%12.0%35.4%

486.9%

%FY25FY24YoY ChangeRevenue327.23 275.28 227.33 43.9%18.9%1,109.94 990.28 12.1%EBITDA77.0320.8913.13 486.9%268.8%180.51118.93 51.8%EBITDA %23.5%7.6%5.8%307.7%210.2%16.3%12.0%35.4%Interest7.24 4.80 2.09 -246.

268.8%

Y24YoY ChangeRevenue327.23 275.28 227.33 43.9%18.9%1,109.94 990.28 12.1%EBITDA77.0320.8913.13 486.9%268.8%180.51118.93 51.8%EBITDA %23.5%7.6%5.8%307.7%210.2%16.3%12.0%35.4%Interest7.24 4.80 2.09 -246.6%-51.

“❖ The project will be financed by using a mix of equity, debt and internal accruals.”

“We expect a final action shortly from the Central Government on this.”

“We expect the newly formed Government in Germany to announce some incentives supporting local manufacturing.”

“13 Increasing Share of Solar in Rising Renewables Total Installed Power Generation Capacity in India 475 GW as of Mar’25 (in GW) Renewables, 172, 36% ➢ Out of total installed power generation capacity of ~475 GW as of Q4 FY25 in India, the share of renewables has reached 36% (~172 GW).”

“➢ The target for solar has since been raised to install 280 GW by 2030 indicating a huge potential.”

“Large Hydro, 48, 10% ➢ FY25 has witnessed the highest ever annual solar installations of 23.8 GW.”

“Need annual solar installations of 30 +GW to achieve the target SECI/IREDA Tenders Tenders by SECI /IREDA for large ISTS connected projects assuring offtake and payment security to the project developers PM Suryaghar Yojana This scheme aims to provide rooftop solar power systems to one crore households across the country expecting to add 30 GW of capacity.”

“In FY25, the solar installations were higher at about 23.8 GW as against 15 GW in FY24.”

“This brings the overall solar installations to about 105.6 GW as on 31st Mar 2025, on the way to achieve the target of 280 GW by 2030.”

“We expect solar installations to be 35 GW in FY26.”

Notes

1

Operational Changes

1

Current status

1

Notes

❖ The overseas subsidiaries including the step-down subsidiaries have generated net standalone revenue of INR 46.31 crores and negative EBITDA of INR 49.67 crores for Q4FY25 as against net revenue of INR 86.21 crores and negative EBITDA of INR 14.38 crores in the preceding quarter. This was due to suspension of furnace production from January due to a slow demand and lower level of operations while most fixed cost continued until February and also due to adjustment of inventories on physical verification. ❖ The consolidated net revenue for the quarter under review stands at INR 373.54 crores and EBIDTA of INR 27.36 crores as compared to net revenue of INR 361.49 crores and EBITDA of INR 5.00 crores in the preceding quarter. While the EBITDA from India operations improved by INR 62.49 Crores, the improvement in consolidated EBITDA was impacted by lower profitability of overseas subsidiaries. 8 Particulars (₹ Crs)Q4FY25Q3FY25Q4FY24YoY Change%QoQ Change%FY25FY24YoY Change%Revenue373.54 36

Operational Changes

❖ Temporary cool down of furnace started in Jan 2025, while ensuring a controlled cool down for potential restart when demand stabilizes. ❖ Cold end operations were continued to convert semi-finished glass into finished glass for pending orders.

Current status

❖ 90% employees put on short time work whereby only 30% salaries are paid by the Company. Production is completely closed. ❖ Waiting for right incentives from the newly formed Government in Germany post general elections in Feb. ❖ In the meantime, evaluating to resume production in cold end by importing annealed glass in order to cut down the cash losses. 10 SBLC Payments made for bank loans taken by step-down subsidiary ❖ Background • GMB Glasmanufaktur Brandenburg GmbH, Germany – 86% owned step-down subsidiary of Borosil Renewables. Is facing weak business outlook due to solar module dumping in Europe. • Temporarily suspended solar furnace operations in view of low demand and high cash losses. • Borosil Renewables had guaranteed capex loans of EUR 24 million for GMB via Standby Letters of Credit (SBLC). ❖ Borosil Renewable’s SBLC Settlements of outstanding amounts – March 2025 • • • EUR 10.2 million paid under SBLC issued by HSBC (Mumbai) for loan from HSBC Trinkaus, Düsseldorf EUR 1