Borosil Renewables received a capital subsidy of Rs 14.21 crore from the Ministry of Electronics and Information Technology (MEITY) on November 27, the company said in an exchange filing on Friday, November 28. The support has been granted under MEITY’s Modified Special Incentive Package Scheme.
The latest payout takes the company’s total subsidies from MEITY to Rs 106.53 crore over the past two years. Borosil, which has been receiving subsidies for its expansion project, now has only a small portion of the approved subsidy pending.
Borosil Q2 Results
Earlier this month, the company declared its financial results for Q2FY26 The glass manufacturer reported a sharp rise in its consolidated net profit at Rs 45.8 crore, up from Rs 12.6 crore in the same period last year. The company’s revenue from operations stood at Rs 378.4 crore, nearly 43% higher than Q2FY25, while its EBITDA came in at Rs 124 crore.
The jump in profit was largely driven by higher sales volume and growing demand as India continues to expand its renewable energy ecosystem.
Share Price
Following the announcement, the company’s shares closed at Rs 581.05, down nearly 2% from the previous close. Over the past one month the company’s stock has declined by nearly 14%.
