• Event Type: Q2 FY27 and H1 FY27 Results Conference Call hosted by ICICI Securities Limited
  • Date and Time: Monday, November 02, 2026 (specific time not mentioned in transcript)
  • Purpose: Discussion of quarterly financial results, business updates, and strategic initiatives for Q2 FY27 and H1 FY27
  • Management Participants:
  • Mr. Shreevar Kheruka – Vice Chairman and Managing Director
  • Mr. Rituraj Sharma – Chief Executive Officer
  • Mr. Rajesh Kumar Chaudhary – Whole-Time Director
  • Mr. Anand Sultania – Chief Financial Officer
  • Mr. Dhaval Patel – Head, Investor Relations
  • Financial Period Discussed: Q2 FY27 (Quarter ending September 2026) and H1 FY27 (Half-year ending September 2026)
  • Key Financial Highlights:
  • Revenue from operations: ₹627.4 crores in H1 FY27 vs ₹576.8 crores in H1 FY26 (8.8% YoY growth)
  • Gross Profit: ₹408.9 crore (15.6% growth) with Gross Profit Margin improvement of 390 bps to 65.2%
  • EBITDA (excluding other income): ₹107.7 crore (20.5% growth)
  • Profit Before Tax: ₹60.3 crores vs ₹53.9 crores in H1 FY26
  • Profit After Tax: ₹44.7 crores vs ₹40.1 crores in H1 FY26
  • Net Debt Position: ₹95.8 crores as of September 30, 2026
  • Business Updates:
  • DGTR recommended 5-year anti-dumping duty on Chinese borosilicate glassware (final findings issued September 24, 2026)
  • Commissioned BIS-compliant manufacturing unit with two double wall lines for vacuum stainless-steel products through subsidiary Stylenest India Limited
  • Third double wall line expected to commence in January 2027
  • Commissioned 35.8 MWp solar power plants with 16.9 MWh battery storage, meeting 60% of power requirements
  • Launched first exclusive Borosil brand stores in Pune and Gurugram
  • Segment Performance (H1 FY27):
  • Larah Opalware: ₹210.7 crores (7.8% growth)
  • Glassware: ₹152.6 crores (2.7% growth)
  • Non-glassware: ₹240.2 crore (10.9% growth)
  • Hydra sales improved by over 30% in Q2 FY27 YoY
  • Forward-looking Statements:
  • Additional 6.5 MWp solar plant with 5.0 MWh BESS under implementation (₹27.6 crores)
  • 3.0 MWp solar plant for Hydra facility (₹10.0 crores, expected Q4 FY27)
  • Glassware manufacturing project at Bharuch to be set up by Borosil Scientific Limited
  • Borosilicate Pressware glass Furnace expansion from 25 TPD to 32 TPD at Jaipur (₹50 crores capex, expected Q4 FY28)
  • Vision 2030 plan to be announced by end of FY27
  • Compliance Statement: The transcript contains management commentary on published financial results and business updates. No specific UPSI disclaimer mentioned in the provided transcript.

Additional Notes Section

  • Attachments: The earnings call transcript was attached to the regulatory filing
  • Financial Data: Extensive financial data was disclosed including revenue, profit margins, segment performance, and balance sheet position
  • Seasonal Impact: Company noted that Diwali festival calendar shift impacted Q2 FY27 and H1 FY27 sales comparability with previous year