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Swing Capital

Borosil Ltd

NSE: BOROLTD BSE: 543212Retail

Borosil Limited is a supplier of laboratory glassware, microwaveable kitchenware and opal ware in India. It sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets, and has three manufacturing facilities. The company conducts its operations in two business segments—namely, scientific & industrial products and consumer products

₹218
52W: ₹214 — ₹398
PE 33.2 · Book ₹71.2 · +206% vs book
Market Cap₹2,606 Cr
Stock P/E33.2Price to Earnings
ROCE12.5%Return on Capital
ROE9.32%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 3.07 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 8.65% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -5.59%
  • −Working capital days have increased from 22.5 days to 71.0 days

Shareholding Pattern

Promoters64.68%
FIIs0.34%
DIIs6.18%
Public28.79%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.41%64.7%▼2.764.67%▼0.064.65%▼0.064.63%▼0.064.61%▼0.064.61%64.68%▲0.1
FIIs1.87%0.96%▼0.90.8%▼0.20.28%▼0.50.35%▲0.10.43%▲0.10.35%▼0.10.34%▼0.0
DIIs3.81%5.15%▲1.35.44%▲0.36.27%▲0.86.13%▼0.16.07%▼0.16.09%▲0.06.18%▲0.1
Public26.91%29.17%▲2.329.08%▼0.128.79%▼0.328.88%▲0.128.86%▼0.028.93%▲0.128.79%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales235302229217274338270233340339
Expenses198246210188233284233195292286
Operating Profit37571929415437374853
OPM %16%19%8%13%15%16%14%16%14%16%
Net Profit193759183511172324
EPS ₹1.623.250.440.781.532.970.931.461.912.02

AI Insights

Revenue Trend

TTM revenue at ₹1,182Cr, up 8.4% YoY. OPM at 15%.

Debt Position

Borrowings at ₹80Cr. Debt-to-equity ratio: 0.10x. Healthy balance sheet.

Capex Cycle

CWIP at ₹7Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 6.18% (+5.99pp change). FIIs: 0.34% (-1.81pp change). Promoters hold 64.68%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 12% (Mar 2025). Working capital days: 71.

Valuation

PE 33.2x with 12.5% ROCE. Price is 206% above book value of ₹71.2. Dividend yield: 0%.

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