Borosil posts Rs66.87 cr Q4 net profit; revenue shoots up to Rs196.90 cr

Borosil Renewables has posted a net profit of Rs66.87 crore for fiscal fourth quarter ended 31 March 2021 against a net profit of Rs4.05 crore for the corresponding period ended 31 March 2020, a 1,551.11 per cent increase year-on-year. 

The company had reported a net profit of Rs10.57 crore for the previous quarter ended 31 December 2020.
Total income of the company for the January-March 2021 quarter stood at Rs196.90 crore compared to Rs95.29 crore for the previous year quarter ended 31 March 2020, an increase of 106.63 per cent year-on-year. Total income for the quarter ended 31 December 2020 stood at Rs141.32 crore.
Earnings per share (EPS) for the quarter ended 31 March 2021 stood at Rs5.15 compared to 0.36 for the previous year quarter ended 31 March 2020 and Rs0.91 for the quarter ended 31 December 2020.
For the financial year ended 31 March 2021 the company reported total income of Rs507.63 crore compared to Rs274.76 crore fpr the 12 months period ended 31 March 2020.
Full year Net profit for the financial year stood at Rs89.64 crore against Rs0.45 crore for the 12 months period ended 31 March 2020.
EPS for the full financial year stood at Rs7.56 crore compared to Rs0.04 for the 12 months period ended 31 March 2020.
Total income for the fiscal year rose to Rs507.63 crore from Rs274.76 crore in 2019-20.
The board of directors of the company also on Wednesday passed an enabling resolution for raising of capital by way of an issue of equity shares for an amount not exceeding Rs100 crore by way of a rights issue to the eligible equity shareholders of the company.
The funds from the rights issue would be used for part financing the installation of the first phase of expansion plan in the form of additional manufacturing facility (SG–4) with a capacity of up to 500 tonnes per day at its existing location in Bharuch, Gujarat.
The board did not recommend any dividend on equity shares for 2020-21.