Borosil Renewables

What Borosil Renewables does

Borosil Renewables Limited is the world's largest solar glass manufacturer, operating two production bases — one in Bharuch, Gujarat (India) and a formerly European base via the 2022 acquisition of Interfloat Corporation, now undergoing insolvency proceedings and deconsolidation. Originally incorporated in 1962 as Borosil Glass Works Limited, the company pivoted to solar glass manufacturing and rebranded to reflect its renewable energy focus. It produces low-iron textured solar glass, anti-reflective and anti-soiling coated glass, antimony-free variants (NoSbEra), antiglare glass (Selene), 2mm fully tempered glass, grid-printed back glass for bifacial modules, and BIPV roof-tile glass, with current capacity of 1,350 TPD (~8.5 GW equivalent) targeted to reach 1,950 TPD by end of 2026.

The company serves solar module manufacturers, renewable energy developers, and (historically) European solar OEMs as a B2B enterprise supplier, using direct field sales with technical customization. Revenue is generated almost entirely from hardware sales of solar glass products. Borosil is the only major domestic solar glass producer in India and benefits from a five-year extension of countervailing duties (9.71%-10.14%) on Malaysian imports announced in June 2026, providing meaningful trade protection.

Borosil Renewables is publicly listed on BSE/NSE (ticker BOROSIL, BSE: 502219) with promoter-family (Kheruka) control and approximately 27% public float. FY26 revenue was Rs 1,555.84 crore with a net profit of Rs 129.08 crore, a sharp turnaround from a Rs 69.57 crore loss in FY25. The board has authorized a Rs 750 crore capital raise to fund further capacity expansion, and the company holds ISO 9001/14001/45001, CE, REACH, and RoHS certifications across its product lines.

Name

Borosil Renewables

Legal name

Borosil Renewables Limited

Website

http://borosilrenewables.com/

Company type

Public

Founded year

1962

Operating status

Operating

Headcount range

101–250 employees

Short description

Borosil Renewables is the world's largest solar glass manufacturer, producing low-iron textured, anti-reflective, anti-soiling, antimony-free, and bifacial back glass for solar module manufacturers and renewable energy developers, with 1,350 TPD (~8.5 GW) capacity across an Indian production base and historical German operations.

Ownership category

akta.pro rank

Product category

Solar Glass Manufacturing

NAICS

Flat Glass Manufacturing (327211), Glass and Glass Product Manufacturing (32721)

SIC

Flat Glass (3211)

akta.pro primary industry

Low‑E, Solar Control & Energy-Efficient Coated Glass (IMADAHAF)

akta.pro secondary industries

Flat Glass (Float/Sheet/Plate) Manufacturing (IMADAHAA), Solar PV Module & Cell Manufacturing (Crystalline, Thin-Film) (EUAMAHAA)

Keywords

• Solar glass manufacturing
• Photovoltaic cover glass
• Tempered solar glass
• Anti-reflective coatings
• Bifacial module components

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Others

Revenue model

1. Solar Glass Sales: Manufacturing and selling solar glass to solar module manufacturers. Revenue generated through direct sales of various solar glass products including textured tempered glass, anti-reflective coated glass, and specialized products like grid printed back glass.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Borosil Renewables manufactures and sells specialized solar glass for photovoltaic modules, including low iron textured glass, anti-reflective coated glass, anti-soiling coated glass, antimony-free glass, antiglare glass, fully tempered thin glass, and grid-printed back glass for bifacial modules. The company operates approximately 1,350 tonnes per day (~8.5 GW) of production capacity across two large plants in India and Germany, supplying solar module makers and renewable energy developers with standard and customized glass specifications.

Product overview

Borosil Renewables is the world's largest solar glass manufacturer offering a comprehensive portfolio of specialized solar glass products. The company operates two large production bases in India and Germany with approximately 1,350 tonnes per day manufacturing capacity (equivalent to ~8.5 GW). The product portfolio includes low iron textured solar glass as the core offering, complemented by specialized variants such as Shakti (matt-matt finish), NoSbEra (antimony-free), Selene (antiglare), and products with anti-reflective or anti-soiling coatings. The company also produces 2mm fully tempered solar glass and grid-printed back glass for bifacial modules, serving residential, commercial, and utility-scale solar applications.

Differentiator

Problem solved

Functional benefit

Brands

• Shakti: Solar Glass in Matt-Matt Finish product line
• NoSbEra
• Selene

Products and services

• Low Iron Textured Solar Glass

Quantifiable outcome

• Carbon footprint 22% lower than default score
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• India-US Trade AgreementcoreStrategic or Co-development Partner · 2 June 2026India and United States signed a bilateral trade agreement expected to resume India's $150 million glass export business to the US, particularly for high-quality perfume and cologne bottles. Borosil Chairman noted India's 18% tariff advantage could attract additional volume.

Scale indicators9 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Saint-Gobain: Saint-Gobain is a global building materials incumbent with flat glass manufacturing serving construction and solar-adjacent markets. Comparable as a broad glass peer with overlap in coated/architectural glass products, though solar is not its core focus.
• Şişecam (Trakya Cam Sanayii): Şişecam is a Turkish global glass manufacturer producing flat glass, automotive glass, and glassware. Comparable as a broad international flat glass producer with overlap in solar-grade coated glass and similar B2B customer profiles.
• Nippon Sheet Glass / Pilkington: Nippon Sheet Glass (parent of Pilkington) is a global glass incumbent with solar glass exposure through float glass manufacturing. Comparable as a broader glass major that overlaps in solar applications but does not specialize solely in solar glass like Borosil.
• AGC Inc. (Asahi Glass Company): AGC is a Japanese global glass and chemicals incumbent producing flat glass, automotive glass, and specialty glass. Overlaps with Borosil in coated flat glass technologies used in solar and architectural applications.
• Guardian Industries: Guardian Glass (Koch Industries subsidiary) is a major global float and coated glass manufacturer with European production. Comparable as a broad glass incumbent serving solar-adjacent architectural and specialty glass applications.

Direct peers

• Xinyi Solar Holdings: Xinyi Solar is one of the world's largest solar glass manufacturers based in Hong Kong/China. Directly comparable to Borosil in producing low-iron patterned solar glass for PV modules, and the principal global capacity competitor that Borosil overtook.
• Flat Glass Group: Flat Glass Group is a leading Chinese manufacturer of solar photovoltaic cover glass and float glass. Directly competes with Borosil in solar glass production, with significant capacity overlap and similar end-customers (PV module manufacturers).
• CSG Holding Co. CSG Holding is a major Chinese producer of architectural and solar-grade float glass. Directly comparable as a vertically integrated glass manufacturer with significant solar glass capacity serving module manufacturers.
• AVIC Suzhou Sun Economy Development Group: AVIC subsidiary producing solar glass and PV components in China. Direct competitor in solar cover glass with similar low-iron patterned and coated glass offerings to module manufacturers.

Regional players

• Asahi India Glass (AIS): Asahi India Glass is the leading Indian automotive and architectural glass manufacturer. Regional peer in the Indian flat glass market with similar customer segments and shared regulatory environment, though solar glass is not its primary focus.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/borosilrenew
• LinkedInlinkedin.com/company/borosil-glass-work-limited
• Facebookfacebook.com/borosilrenewables

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Borosil Renewables