1 hr ago
Kotak Neo Sees 29% Upside in Pressured Borosil Renewables Shares
Kotak Neo says Borosil Renewables shares could rise by 29% and recommends buying them.
The shares were trading around Rs 450 and below several moving averages.
Kotak Neo expects the company’s sales and profits to grow over the next few years.
Borosil is expanding its solar-glass production capacity by 600 tonnes per day.
The report says this expansion is fully funded, with about Rs 1,100 crore in spending expected by March 2027.
Borosil could consider another furnace later, but it plans to first get the current expansion running smoothly.
It is also looking at specialty glass as another possible area of growth.
The report points to government support for solar power and import duties as factors that may help domestic manufacturers.
Kotak Neo issued a buy call on Borosil Renewables, citing 29% upside.
The stock traded around Rs 450 and was below its listed short- and long-term moving averages.
Kotak Neo forecasts FY26–FY29E revenue, EBITDA and adjusted PAT CAGRs of 19.2%, 22.2% and 21.6%.
Borosil’s ongoing 600 TPD expansion is fully funded; about Rs 1,100 crore of capex is expected by March 2027.
The company has infrastructure for a possible 1,200 TPD brownfield furnace and is exploring specialty glass.
- Who
- Borosil Renewables and Kotak Neo.
- What
- Kotak Neo issued a buy call on Borosil Renewables, citing 29% upside and growth prospects.
- Where
- India.
- When
- The article describes the stock's current session and forecasts for FY26–FY29E.
- Why
- Kotak Neo cited capacity expansion, favourable solar-industry conditions and long-term opportunities in India's expanding solar manufacturing base.
Kotak Neo’s outlook
Signs of share-price weakness
Investment outlook
Kotak Neo’s outlook
Kotak Neo sees an attractive entry point, citing a buy call, 29% upside, capacity expansion and favourable industry conditions.
Signs of share-price weakness
The stock was trading below its 5-, 10-, 20-, 50-, 100-, 150- and 200-day moving averages, indicating recent price weakness.
Future expansion
Kotak Neo’s outlook
The company has land and supporting infrastructure for an additional 1,200 TPD brownfield furnace, and stronger cash flows after the current expansion could support future growth.
Signs of share-price weakness
Management is expected to take a measured approach, first stabilising the ongoing capacity addition before deciding whether to proceed with another expansion.
Key facts
- Brokerage view
- Kotak Neo issued a buy call and cited 29% upside.
- Share price
- Around Rs 450 in the current session.
- Market capitalisation
- Rs 6,396 crore.
- Forecast period
- FY26–FY29E.
- Forecast CAGRs
- Revenue 19.2%; EBITDA 22.2%; adjusted PAT 21.6%.
- Ongoing expansion
- 600 TPD capacity addition, described as fully funded.
- Planned capex
- Around Rs 1,100 crore by March 2027.
- Potential future capacity
- The company has land and infrastructure for an additional 1,200 TPD brownfield furnace.
Sources
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