The global Solar Photovoltaic Glass Market is expected to exceed more than US$ 32.50 Billion by 2024 at a CAGR of 34% in the given forecast period.
As lofty a prediction as it sounds, it still seems very probable - that’s the kind of expectation most of us have from this sector. Frankly with all mad(but realistic) expectation, I wouldn’t know when to exit and that could be tricky too. I suppose the whole “FOC” concept for retail investors is designed for such cases.
Good article to understand how solar energy sector is undergoing change across the world.
The RLNG prices are shooting through the roof, esp the spot RLNG prices and JKM spot price is now at USD 20 per mmbtu. Hope BR is having a long term contract with Gas producers, if some one can throw light that wud be helpful. GAIL, Petronet LNG, GSPC has long term contracts that do not follow the JKM index and mostly linked to Henry Hub etc which has not increased but the gas suppliers have both spot and long. so hopefully BR has had a long term contract otheriwise will have a huge hit on the margins.
there are Platts article on the reason for such a high spot RLNG price though it may not continue for long but has short term impact for atleast till April 2021
Hi any idea how much is mmscmd consumption of gas for their plants ? because the APM gas is dwindling and am not sure whether they have any APM gas allocation because APM gas is given only to entities like Power, Fert and CGD or to whom Govt has allocated APM Gas. I am not sure whether BR were allocated any APM gas. currently the prices of RLNG is quite high. it would be good if we can get the bifurcation though it might be difficult to get that kind of information.
Looks like Boro Renew is going to use anti soiling coating technology from this company. (Company profile page on Borosil website mentions “Amongst the upcoming products with enhanced features is the solar glass with Anti-soiling coating” )
Strong Sector tailwind are visible in entire solar value chain, attached is Q3 result update from an Indian solar cell manufacturer Websol, management commentary is worth reading.( Production sold out for next few quarters, very high EDiDTA jump of 375% over Q2 etc)
it is shown as exceptional item of Rs 53 crores that has been written back, the operational no’s seems to indicate there seems to be no major change. if you have any further info on the Other income, that may be helpful. Most big module manf currently import cell from China. Websol has very very small presence plus it is being used only when there is spec for DCR (domestic content). the quality of cells are very important plus Chinese keeps on innovating and they flood the market with new features plus they increase the size too, say from 156.5 mm, to 158.55 mm and now they are focusing only 210 mm type cells which increases the module capacity. Technology disruption is very fast here and thats why very difficult for indian solar cell manf to scale up in a big way…
The plummeting tariff bids have had yet another fallout, on the funding side. Debt financing for clean energy projects has seen a drop as many leading banks have expressed concern about the viability of renewable energy projects that have committed to tariffs of less than Rs 3 per unit and are therefore reluctant to lend to these developers.
For India’s renewable energy story to keep powering ahead, a host of issues will have to be addressed, both at the policy level and through technology-based interventions that keep in mind the unique nature of renewable energy sources.
any listed competitor of Indigenous for Borosil Renewables
Renewable as a sector has got all sort of tailwinds- Borosil has clear advantage as a key player, it would be interesting to see when( no more an IF) new glass mfg capacities are announced and competition sets up shop, will be a validation of long term sustainability.
Expect Adani to be one of them once they see that opportunity size is sizable enough for them.
Talked with a solar panel & inverter manufacturer yesterday. He said the RM prices for panels are coming down now and they even expect the solar glass prices to correct soon.
I personally don’t think that the glass prices would correct a lot.
I read that sudden increase in solar glass prices was due to expiry of China’s policy around subsidies on installing panels before Dec-2020 and add to that there are a lot of production loss earlier in the year due to COVID-19.
Starting 2021, that subsidy is being removed so that impacts unit economics for manufacturing of solar panel a bit.
Since I am not fully sure on this, I would request @Marathondreams to enlighten me/forum a bit here…
A brilliant research article about Indian energy sector. This new World Energy Outlook Special Report explores the opportunities & challenges ahead for Flag of India as it seeks to ensure secure & sustainable energy for a growing economy & population.
Great set of numbers for Borosil.
Income from operations jumped 86% compared to Q3 of last year
Profit at 10.5 cr compared to loss of 87lakhs from same quarter last year.
More than half of the profit for the 9 months ended came from sales of Q3.
The story is just getting started.
Company also granted stock options to 2 directors at Rs 274 per share, to be vested over 1 year.
Seems a bit high, hopefully this wouldn’t be a regular occurrence as it will lead to equity dilution for existing shareholders.
Great set of operating numbers. Company used the opportunity to settle disputed tax matters (one time) as per the note below
This has reduced PAT by whopping 18.6 Cr or else PAT would have been 29Cr on income of 140 Cr.
Can we expect sales around 150c and PAT around 30c in coming quarters too? Or was it due to high glass price in November and December?
We will have to wait for management commentary in concall. But it could be better than the numbers mentioned by you… 