Solar glass manufacturer Borosil Renewables reported a revenue of ₹4.06 billion (~$42.1 million) for the first quarter (Q1) of the financial year (FY) 2027, a 17.1% year-over-year (YoY) increase from ₹3.47 billion (~$36 million).

The company posted a net profit of ₹866.4 million (~$9 million) for the quarter, compared to a net loss of ₹2.03 billion (~$21.1 million) in the corresponding quarter of the previous year.

The return to profitability was supported by higher selling prices, stronger operating margins, and the absence of impairment charges recorded in the year-ago period.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) more than doubled to ₹1.41 billion (~$14.7 million) from ₹692.8 million (~$7.2 million) a year earlier.

The EBITDA margin expanded to 34.8% from 20% in Q1 FY 2026.

Earnings per share stood at ₹6.19 (~$0.064), compared to a loss per share of ₹12.56 (~$0.13) in the same quarter last year.

The company attributed the improved performance to higher selling prices. The average ex-factory selling price increased to ₹160.3 (~$1.66)/mm during the quarter from ₹138.1 (~$1.43)/mm in the corresponding quarter of the previous year.

The selling price included a fuel surcharge introduced in March 2026 to offset higher fuel costs following the conflict in West Asia.

A solar-wind hybrid captive power project commissioned in March 2026 increased renewable electricity to 93% of Borosil’s total power requirement during the quarter, helping reduce operating costs.

The company generated domestic revenue of ₹3.91 billion (~$40.6 million), up from ₹2.98 billion (~$30.9 million) in the corresponding quarter last year. Export revenue declined to ₹142.9 million (~$1.5 million) from ₹489.4 million (~$5.1 million).

The company is constructing two new solar glass furnaces with a combined capacity of 600 tons per day. The ₹9.5 billion (~$98.6 million) expansion project remains on track for commissioning by December 2026. It will increase the company’s production capacity from 1,000 tons per day to 1,600 tons per day.

Borosil posted a revenue of ₹15.56 billion (~$163.54 million) in FY 2026, a 5.2% YoY growth from ₹14.79 billion (~$155.49 million).