Borosil Renewables MD, chairman, board of directors and AGM
NSE: BORORENEWBSE: 502219Industrial ProductsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹396.40.
- Next results date: the board meets on 30 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹5,659 Cr679th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 16 Jul 2026
- 14.8
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 12 May 2026
- 3.7
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 16 Jul 2026
- 30.5%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 16 Jul 2026
- 25.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 12 May 2026
- 0.11
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 5,00,70050.6% delivered
Borosil Renewables board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonPradeep Kumar KherukaRelated to the promoter
- Company Secretary and Compliance OfficerKishor Talreja
8 directors4 independent2 executive2 non-executive
- Pradeep Kumar Kheruka · ChairpersonExecutive · joined Nov 1988 · reappointed Apr 2023 · 3 listed boards · 5 committee seats, 1 as chair
- Shreevar KherukaNon-executive · joined Aug 2009 · reappointed Aug 2024 · 3 listed boards · 4 committee seats, 2 as chair
- Ashok Kumar JainNon-executive · joined Feb 2020 · reappointed Sep 2025 · 1 listed board · 1 committee seat
- Sunil Kishanlal RoongtaExecutive · joined May 2024 · reappointed May 2024 · 1 listed board
- Raj Kumar JainIndependent · joined Feb 2020 · reappointed Feb 2022 · 79 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Akshaykumar Narendrasinhji ChudasamaIndependent · joined Jan 2025 · reappointed Jan 2025 · 20 months as independent · 4 listed boards · 4 as independent · 5 committee seats
- Shailendra Kumar ShuklaIndependent · joined Jan 2025 · reappointed Jan 2025 · 20 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Vanaja N SarnaIndependent · joined Jan 2025 · reappointed Jan 2025 · 20 months as independent · 3 listed boards · 2 as independent · 5 committee seats, 1 as chair
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
4 directors who left
- Shalini Kalsi Kamath, left 3 Feb 2025: Tenure Completion
- Pradeep Vasudeo Bhide, left 3 Feb 2025: Tenure Completion
- Haigreve Khaitan, left 3 Feb 2025: Tenure Completion
- Syed Asif Ibrahim, left 3 Feb 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 22 Sep 20268 of 8 present4 independent · 67 days in between
- 16 Jul 20267 of 8 present4 independent · 64 days in between
- 12 May 20268 of 8 present4 independent
Audit Committee
Chair Raj Kumar Jain
Pradeep Kumar Kheruka, Akshaykumar Narendrasinhji Chudasama, Vanaja N Sarna
- 16 Jul 20264 of 4 present3 independent · 64 days in between
- 12 May 20264 of 4 present3 independent
Nomination and remuneration committee
Chair Raj Kumar Jain
Pradeep Kumar Kheruka, Shreevar Kheruka, Akshaykumar Narendrasinhji Chudasama, Shailendra Kumar Shukla, Vanaja N Sarna
- 12 May 20266 of 6 present4 independent
Stakeholders Relationship Committee
Chair Shreevar Kheruka
Pradeep Kumar Kheruka, Raj Kumar Jain, Ashok Kumar Jain
- 12 May 20264 of 4 present1 independent
Risk Management Committee
Chair Pradeep Kumar Kheruka
Shreevar Kheruka, Raj Kumar Jain, Ashok Kumar Jain, Sunil Kishanlal Roongta, Akshaykumar Narendrasinhji Chudasama, Shailendra Kumar Shukla, Vanaja N Sarna, David Melwyn Moses
- 12 May 20268 of 8 present4 independent
Corporate Social Responsibility Committee
Chair Pradeep Kumar Kheruka
Shreevar Kheruka, Shailendra Kumar Shukla, Vanaja N Sarna
- 22 Sep 20264 of 4 present2 independent · 132 days in between
- 12 May 20264 of 4 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- M/s. Chaturvedi & Shah LLPPeer-review certificate valid to Jun 2026
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Borosil Renewables AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Borosil Renewables dividend history
Annual general meeting, 27 Aug 2026
2,28,027 shareholders on the register on 20 Aug 2026; present: 12 promoters and 82 others; votes counted by Dhrumil M. Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and report of Statutory Auditor.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
- To consider the re-appointment of Mr. Pradeep Kumar Kheruka (DIN: 00016909), who retires by rotation and being eligible, offers himself for re- appointment.Ordinary95.81% for4.19% against
Against: promoters 0.00% · institutions 38.76% · other public 0.89%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
To consider the re-appointment of M/s Chaturvedi & Shah LLP, Chartered Accountants (Firm Registration No. 101720W / W100355) as the Statutory Auditors of the Company for a second term of 5 (five) consecutive years.MoreLess
Ordinary99.12% for0.88% againstAgainst: promoters 0.00% · institutions 8.05% · other public 1.37%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
- To ratify remuneration of the Cost Auditors.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.31%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
- To approve terms of remuneration of Mr. Ashok Jain (DIN: 00025125), in his capacity as a Non-Executive Non-Independent Director of the Company, for FY 2026-27.Special94.27% for5.73% against
Against: promoters 0.00% · institutions 52.95% · other public 1.49%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
- To approve raising of funds by way of issue of Equity shares/ Securities, etc of the CompanySpecial99.83% for0.17% against
Against: promoters 0.00% · institutions 1.54% · other public 0.20%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
To approve re-appointment and terms of remuneration of Mr. Sunil Roongta (DIN:02422690) as Whole Time Director and Key Managerial Personnel of the Company for a period commencing from May 27, 2027 to July 22, 2029.MoreLess
Special99.94% for0.06% againstAgainst: promoters 0.00% · institutions 0.51% · other public 1.00%
Turnout: all 63.19% · promoters 100.00% · institutions 77.05% · other public 0.98%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 23 Sep 2025, 7 resolutions
2,55,467 shareholders on the register on 16 Sep 2025; present: 10 promoters and 74 others; votes counted by Dhrumil M. Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)
To consider and adopt: (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2025, the reports of the Board of Directors and the Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Statutory Auditor thereon.MoreLess
Ordinary99.81% for0.19% againstAgainst: promoters 0.00% · institutions 3.09% · other public 0.16%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
- To approve re-appointment of Mr. Ashok Jain (DIN: 00025125), who retires by rotation and being eligible, offers himself for re- appointment.Ordinary99.80% for0.20% against
Against: promoters 0.00% · institutions 1.33% · other public 28.97%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
- To ratify remuneration of the Cost Auditors.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 3.76%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
- To approve the appointment of M/s. Dhrumil M. Shah & Co. LLP, Practicing Company Secretaries, as the Secretarial Auditor for an period of 5 consecutive years.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.58%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
- To approve the remuneration of Ashok Jain (DIN: 00025125), in his capacity as a Non-Executive Non-Independent Director of the Company, for FY 2025-26.Special94.91% for5.09% against
Against: promoters 0.00% · institutions 79.99% · other public 39.21%
Turnout: all 66.13% · promoters 99.88% · institutions 71.80% · other public 0.83%
- To approve raising of funds by way of issue of securities of the Company.Special99.68% for0.32% against
Against: promoters 0.00% · institutions 3.18% · other public 28.48%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
- To approve terms of remuneration of Mr. P. K. Kheruka (DIN: 00016909) as Whole Time Director designated as Executive Chairman of the Company for a period of 2 years.Special94.36% for5.64% against
Against: promoters 0.00% · institutions 89.59% · other public 28.66%
Turnout: all 66.14% · promoters 99.88% · institutions 71.80% · other public 0.86%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 14 Aug 2025, 1 resolution
2,58,867 shareholders on the register on 7 Aug 2025; present: 10 promoters and 57 others; votes counted by Dhrumil M. Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)
- Issuance of Equity Shares on a preferential basis to persons belonging to the ‘Non-Promoter’ CategorySpecial99.81% for0.19% against
Against: promoters 0.00% · institutions 2.77% · other public 2.06%
Turnout: all 66.26% · promoters 99.88% · institutions 72.19% · other public 0.34%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 26 Apr 2025, 3 resolutions
2,82,720 shareholders on the register on 21 Mar 2025; votes counted by Virendra G Bhatt / Virendra G Bhatt.The company's voting result (opens in a new tab)
- Appointment of Mr. Akshaykumar Chudasama (DIN: 00010630) as an Independent Director of the CompanySpecial98.87% for1.13% against
Against: promoters 0.00% · institutions 15.53% · other public 2.21%
Turnout: all 67.32% · promoters 99.88% · institutions 83.56% · other public 1.03%
- Appointment of Ms. Vanaja N. Sarna (DIN: 10419005) as an Independent Director of the CompanySpecial98.87% for1.13% against
Against: promoters 0.00% · institutions 15.53% · other public 2.41%
Turnout: all 67.31% · promoters 99.88% · institutions 83.56% · other public 1.01%
- Appointment of Mr. Shailendra Kumar Shukla (DIN:00106531) as an Independent Director of the CompanySpecial98.87% for1.13% against
Against: promoters 0.00% · institutions 15.53% · other public 2.25%
Turnout: all 67.32% · promoters 99.88% · institutions 83.56% · other public 1.03%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 9 Jan 2025, 5 resolutions
2,88,706 shareholders on the register on 2 Jan 2025; present: 13 promoters and 66 others; votes counted by Virendra G Bhatt / Virendra G Bhatt.The company's voting result (opens in a new tab)
- To amend the Articles of Association of the CompanySpecial99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 1.12%
Turnout: all 67.02% · promoters 99.88% · institutions 64.10% · other public 4.23%
- To approve issuance of equity shares to Promoter / Promoter group on a preferential basisSpecial99.54% for0.46% against
Against: promoters 0.00% · institutions 7.19% · other public 1.16%
Turnout: all 67.02% · promoters 99.88% · institutions 64.10% · other public 4.23%
- To approve issuance of warrants on a preferential basis to persons belonging to ‘non-promoter’ categorySpecial99.53% for0.47% against
Against: promoters 0.00% · institutions 7.19% · other public 1.64%
Turnout: all 67.02% · promoters 99.88% · institutions 64.10% · other public 4.23%
- To approve providing of financial support by the Company/ its Wholly owned subsidiaries/ Interfloat corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)Ordinary98.13% for1.87% against
Against: promoters 0.00% · institutions 2.27% · other public 0.68%
Turnout: all 5.43% · promoters 0.00% · institutions 64.10% · other public 4.23%
- To approve functional support service transactions between (i) the Company / its Wholly owned subsidiaries and Company’s stepdown subsidiaries and (ii) inter-se between stepdown subsidiariesOrdinary98.26% for1.74% against
Against: promoters 0.00% · institutions 2.27% · other public 0.16%
Turnout: all 5.43% · promoters 0.00% · institutions 64.10% · other public 4.23%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 23 Aug 2024, 6 resolutions
Present: 12 promoters and 70 others.The company's voting result (opens in a new tab)
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2024, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and report of Statutory Auditor thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 66.46% · promoters 100.00% · institutions 84.29% · other public 3.31%
- To approve re-appointment of Mr. Shreevar Kheruka (DIN: 01802416), who retires by rotation and being eligible, offered himself for re-appointmentOrdinary97.95% for2.05% against
Against: promoters 0.00% · institutions 36.30% · other public 0.23%
Turnout: all 66.46% · promoters 100.00% · institutions 84.29% · other public 3.31%
- To ratify remuneration of the Cost AuditorsOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 1.11%
Turnout: all 66.46% · promoters 100.00% · institutions 84.29% · other public 3.31%
- To approve raising of funds by way of issue of securities of the CompanySpecial99.98% for0.02% against
Against: promoters 0.00% · institutions 0.33% · other public 0.05%
Turnout: all 66.46% · promoters 100.00% · institutions 84.29% · other public 3.31%
To approve material modification in the approved related party transaction(s) for providing of financial support by the Company/ its wholly owned subsidiaries/ Interfloat Corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)MoreLess
Ordinary99.99% for0.01% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 4.86% · promoters 0.00% · institutions 84.29% · other public 3.31%
To approve appointment and terms of remuneration of Mr. Sunil Roongta (DIN: 02422690) as Whole Time Director in addition to his current position as Chief Financial Officer and Key Managerial Personnel of the Company for a period of 3 years i.e. from May 27, 2024 to May 26, 2027MoreLess
Special99.66% for0.34% againstAgainst: promoters 0.00% · institutions 5.72% · other public 1.17%
Turnout: all 66.46% · promoters 100.00% · institutions 84.29% · other public 3.31%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Aug 2023, 10 resolutions
Present: 10 promoters and 81 others.The company's voting result (opens in a new tab)
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2023 and report of Statutory Auditor thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve re-appointment of Mr. P. K. Kheruka, who retires by rotation and being eligible, offers himself for re-appointmentOrdinary97.08% for2.92% against
Against: promoters 0.00% · institutions 32.87% · other public 0.28%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To ratify remuneration of the Cost AuditorsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.20%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve revision in terms of remuneration of Mr. Ramaswami V. Pillai (DIN: 00011024), in his capacity as a Whole Time Director of the Company for the financial year 2022-23Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.48%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve the remuneration of Mr. Ramaswami V. Pillai (DIN: 00011024), in his capacity as a Non-Executive Director of the Company, for the financial year 2023-24Special94.96% for5.04% against
Against: promoters 0.00% · institutions 56.87% · other public 0.48%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve revision in terms of remuneration of Mr. Ashok Jain (DIN: 00025125), Whole Time Director of the Company for the financial year 2022-23Special95.63% for4.37% against
Against: promoters 0.00% · institutions 49.25% · other public 0.48%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
To approve re-appointment and terms of remuneration of Mr. Ashok Jain (DIN: 00025125) as Whole Time Director and Key Managerial Personnel of the Company for a period of 2 years i.e. from August 01, 2023 to July 31, 2025MoreLess
Special95.93% for4.07% againstAgainst: promoters 0.00% · institutions 45.96% · other public 0.29%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve raising of funds by way of issue of securities of the CompanySpecial99.70% for0.30% against
Against: promoters 0.00% · institutions 3.30% · other public 0.22%
Turnout: all 69.27% · promoters 100.00% · institutions 94.70% · other public 4.81%
- To approve functional support service transactions between (i) the Company / its wholly owned subsidiaries and Company’s stepdown subsidiaries and (ii) inter-se between stepdown subsidiariesOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 0.27%
Turnout: all 7.67% · promoters 0.00% · institutions 94.70% · other public 4.81%
- To approve providing of financial support by the Company/ its wholly owned subsidiaries/ Interfloat Corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)Ordinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 0.26%
Turnout: all 7.67% · promoters 0.00% · institutions 94.70% · other public 4.81%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 17 Mar 2023, 5 resolutions
Present: 12 promoters and 66 others.The company's voting result (opens in a new tab)
- Sale / purchase transactions between the Company and its stepdown subsidiariesOrdinary99.71% for0.29% against
Against: promoters 0.00% · institutions 0.30% · other public 0.22%
Turnout: all 7.48% · promoters 0.00% · institutions 94.75% · other public 4.94%
- Sale / purchase transactions between Company’s stepdown subsidiariesOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 0.22%
Turnout: all 7.48% · promoters 0.00% · institutions 94.75% · other public 4.94%
- Functional support service transactions between the Company / its wholly owned subsidiaries with Company’s stepdown subsidiaries and inter-se between themOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 0.25%
Turnout: all 7.48% · promoters 0.00% · institutions 94.75% · other public 4.94%
- Financial support by the Company / its wholly owned subsidiary to GMB Glasmanufaktur Brandenburg GmbH, a stepdown subsidiary of the CompanyOrdinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 0.35%
Turnout: all 7.48% · promoters 0.00% · institutions 94.75% · other public 4.94%
- Financial support by the Company/ its wholly owned subsidiaries/ Interfloat Corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 0.35%
Turnout: all 7.48% · promoters 0.00% · institutions 94.75% · other public 4.94%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 27 Aug 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and report of Statutory Auditor.MoreLess
3 for0 against- To consider the re-appointment of Mr. Pradeep Kumar Kheruka (DIN: 00016909), who retires by rotation and being eligible, offers himself for re- appointment.
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance concern: Holds the position of Chairman and Executive Director; clubbing the positions may lead to concentration of power; further, the Company’s remuneration practice is excessive towards him.
2 for1 against To consider the re-appointment of M/s Chaturvedi & Shah LLP, Chartered Accountants (Firm Registration No. 101720W / W100355) as the Statutory Auditors of the Company for a second term of 5 (five) consecutive years.MoreLess
3 for0 against- To approve terms of remuneration of Mr. Ashok Jain (DIN: 00025125), in his capacity as a Non-Executive Non-Independent Director of the Company, for FY 2026-27.
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance concern: Absence of justification when compared to the remuneration paid to other Non-Executive Directors, which appears excessive.
2 for1 against - To approve raising of funds by way of issue of Equity shares/ Securities, etc of the Company
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance concern: Excessive potential dilution within a period of less than 12 months and no specific justification for not opting for rights issue.
2 for1 against To approve re-appointment and terms of remuneration of Mr. Sunil Roongta (DIN:02422690) as Whole Time Director and Key Managerial Personnel of the Company for a period commencing from May 27, 2027 to July 22, 2029.MoreLess
3 for0 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs.1,70,000/- exclusive of applicable taxes and out of pocket expenses payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants (Firm Registration No. 100221), appointed as Cost Auditors by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for FY 2026-27.MoreLess
3 for0 against
Mutual fund votes, meeting of 23 Sep 2025, 6 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To consider and adopt: (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2025, the reports of the Board of Directors and the Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Statutory Auditor thereon.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundNon-disclosure of financial statements of Subsidiaries on the website of the Company.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified financial statements (except certain non-material remarks identified in CARO report). Non-Compliant with Companies Act, 2013 and Regulation 46(2)(s) of SEBI LODR: Non-disclosure of financial statements of Subsidiaries on the website of the Company.
2 for4 against- To approve re-appointment of Mr. Ashok Jain (DIN: 00025125), who retires by rotation and being eligible, offers himself for re- appointment.6 for0 against
- To ratify remuneration of the Cost Auditors.1 for0 against
- To approve the appointment of M/s. Dhrumil M. Shah & Co. LLP, Practicing Company Secretaries, as the Secretarial Auditor for an period of 5 consecutive years.6 for0 against
- To approve the remuneration of Ashok Jain (DIN: 00025125), in his capacity as a Non-Executive Non-Independent Director of the Company, for FY 2025-26.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundProposed remuneration appears excessive.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Absence of justification when compared to the remuneration paid to other NEDs which appears excessive remuneration.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
1 for5 against - To approve raising of funds by way of issue of securities of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual Fund"Excessive potential dilution within a period of less than 12 months and no specific justification on reasons behind not opting for rights issue."
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Excessive potential dilution within a period of less than 12 months and no specific justification on reasons behind not opting for rights issue.
2 for4 against - To approve terms of remuneration of Mr. P. K. Kheruka (DIN: 00016909) as Whole Time Director designated as Executive Chairman of the Company for a period of 2 years.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, UTI Mutual Fund
- Angel One Mutual FundThe proposed remuneration as minimum remuneration including variable pay in case of no profits or inadequate profits with material change in remuneration appears excessive; Combined position of Chairman and Executive Director which may lead to concentration of power.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: The proposed remuneration as minimum remuneration including variable pay in case of no profits or inadequate profits with material change in remuneration appears excessive; Combined position of Chairman and Executive Director
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- UTI Mutual FundP. K. Kheruka, 74, promoter and Executive Chairperson of the company. He has over 5 decades of experience in the glass industry. He was reappointed as Executive Chairperson for five years from 1 April 2022 along with remuneration terms. Since the company did not make adequate profits between FY22 and FY25, the company paid the Executive Chairperson minimum remuneration which is allowed only for three years under regulations. Now the company seeks approval to fix his remuneration for two years from 1 April 2026 to 31 March 2028 which is the end of his current tenure at the same remuneration terms. He received Rs. 85.0 mn as remuneration for FY25. We estimate his FY26 remuneration to be Rs. 93.2 mn. While we recognise his contribution to the growth of the business, his proposed pay is not aligned to company performance. His FY26 pay is high for the current size of the company and is pegged at 18% of FY25 standalone profit before tax. Further, the FY25 remuneration has increased by more than 50% from FY24 levels during a year when losses have increased on a consolidated level. P K Kheruka as well as his son, Shreevar Kheruka are members of Nomination and Remuneration Committee, which creates an inherent conflict of interest. We do not support the resolution.
0 for6 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs. 1,70,000/- exclusive of applicable taxes and out of pocket expenses, payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants (Firm Registration No. 100221), appointed as Cost Auditors by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for FY 2025-26.MoreLess
5 for0 against
6 earlier meetings
Mutual fund votes, meeting of 14 Aug 2025, 6 fund houses
- Issuance of Equity Shares on a preferential basis to persons belonging to the ‘Non-Promoter’ Category
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: No clarity regarding the process of selection of allottees and what is the source of funds; Excessive potential dilution within a period of less than 12 months.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: No clarity regarding the process of selection of allottees and what is the source of funds; Excessive potential dilution within a period of less than 12 months.
2 for4 against
Mutual fund votes, meeting of 26 Apr 2025, 7 fund houses
- Appointment of Mr. Akshaykumar Chudasama (DIN: 00010630) as an Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, quant Mutual Fund
- Angel One Mutual FundNon-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- quant Mutual FundNo concern on the merit of proposed appointees, Mr Akshaykumar Chudasama, Ms Vanaja N. Sarna and Mr Shailendra Kumar Shukla. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and conditions of appointment of proposed appointees not disclosed on the website of the company. Hence, we are voting against the proposed resolution.
2 for5 against - Appointment of Ms. Vanaja N. Sarna (DIN: 10419005) as an Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, quant Mutual Fund
- Angel One Mutual FundNon-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- quant Mutual FundNo concern on the merit of proposed appointees, Mr Akshaykumar Chudasama, Ms Vanaja N. Sarna and Mr Shailendra Kumar Shukla. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and conditions of appointment of proposed appointees not disclosed on the website of the company. Hence, we are voting against the proposed resolution.
2 for5 against - Appointment of Mr. Shailendra Kumar Shukla (DIN:00106531) as an Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, quant Mutual Fund
- Angel One Mutual FundNon-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed appointees not disclosed on the website of the Company.
- quant Mutual FundNo concern on the merit of proposed appointees, Mr Akshaykumar Chudasama, Ms Vanaja N. Sarna and Mr Shailendra Kumar Shukla. Non-Compliant with SEBI LODR, 2015 & Companies Act, 2013: Terms and conditions of appointment of proposed appointees not disclosed on the website of the company. Hence, we are voting against the proposed resolution.
2 for5 against
Mutual fund votes, meeting of 9 Jan 2025, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- To amend the Articles of Association of the Company5 for0 against
- To approve providing of financial support by the Company/ its Wholly owned subsidiaries/ Interfloat corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundTechnical Non-Compliance with SEBI LODR Regulations: Transactions with a common related party are not aggregated together. Governance Concern: No clarity regarding the actual amount of liability towards standby letter of credit facilities extended to GMB and whether the same is within the proposed RPT limits?
1 for3 against - To approve functional support service transactions between (i) the Company / its Wholly owned subsidiaries and Company’s stepdown subsidiaries and (ii) inter-se between stepdown subsidiaries
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundTechnical Non-Compliance with SEBI LODR Regulations: Transactions with a common related party are not aggregated together. No other governance issue identified.
1 for3 against
6 proposals not matched to one resolution
- Approve preferential issue of 1.88 mn equity shares at Rs. 530 per share aggregating ~Rs. 1.0 bn to Promoter and Promoter Group category shareholders
Against UTI Mutual Fund
- UTI Mutual FundWe vote against as there is lack of clarity why the company changed the mode of fund raise from right issue to preferential shares. Further, the company issued preferential shares at a meaningful discount to previous day's closing price of Rs618/share.
0 for1 against - Approve preferential issue of 11.32 mn warrants convertible into equity shares at a price of Rs. 530.0 per warrant aggregating to ~Rs. 5.99 bn, to non-promoters
Against UTI Mutual Fund
- UTI Mutual FundThis is line with our view on resolution No. 2
0 for1 against Approve provision of financial support by Borosil Renewables Limited and its wholly owned subsidiaries: Geosphere Glassworks GmbH and Laxman AG; and Interfloat Corporation, an 86% step-down subsidiary to GMB Glasmanufaktur Brandenburg GmbH (GMB), an 86% step-down subsidiary, not exceeding EUR 10.0 mn (Rs 897.0 mn) for FY26MoreLess
1 for0 againstApprove related party transactions for functional support services between Borosil Renewables Limited, wholly owned subsidiaries: Geosphere Glassworks GmbH and Laxman AG and step-down subsidiaries: GMB Glasmanufaktur Brandenburg GmbH (GMB) and Interfloat Corporation not exceeding EUR 2 mn (approx. Rs 179.4 mn) for FY26MoreLess
1 for0 againstTo create, issue, offer and allot from time to time in one or more tranches, up to 1,13,20,754 warrants, each convertible into, or exchangeable for, 1 (one) fully paid- up equity share of the Company of face value of Re. 1/- each (Warrants) at a price of Rs. 530/- per warrant payable in cash (Warrants Issue Price) aggregating upto Rs. 599,99,99,620/-.MoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Potential dilution can be significant; no clarity why rights issue is not opted for. Warrants are priced at par with equity. No clarity regarding the basis behind selecting the proposed set of allottees. Justification doesn’t indicate urgent need of funds. No adequate information on liability arising on account of letter of credit.
1 for3 againstTo create, issue, offer and allot up to 18,86,793 Equity Shares at a price of Rs. 530/- per Equity Share (which includes a premium of Rs. 529/- per Equity Share) (Issue Price), aggregating upto Rs. 100,00,00,290/-.MoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Potential dilution when coupled with resolution no. 3 can be significant; no clarity why rights issue is not opted for. Justification doesn’t indicate urgent need of funds. No adequate information on liability arising on account of letter of credit.
1 for3 against
Mutual fund votes, meeting of 23 Aug 2024, 9 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2024, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and report of Statutory Auditor thereonMoreLess
9 for0 against- To approve re-appointment of Mr. Shreevar Kheruka (DIN: 01802416), who retires by rotation and being eligible, offered himself for re-appointment9 for0 against
- To ratify remuneration of the Cost Auditors2 for0 against
- To approve raising of funds by way of issue of securities of the Company9 for0 against
To approve material modification in the approved related party transaction(s) for providing of financial support by the Company/ its wholly owned subsidiaries/ Interfloat Corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)MoreLess
9 for0 againstTo approve appointment and terms of remuneration of Mr. Sunil Roongta (DIN: 02422690) as Whole Time Director in addition to his current position as Chief Financial Officer and Key Managerial Personnel of the Company for a period of 3 years i.e. from May 27, 2024 to May 26, 2027MoreLess
Against Axis Mutual Fund, Edelweiss Mutual Fund, SBI Mutual Fund
- Axis Mutual FundSunil Roongta, 54, is Whole – Time Director and Chief Financial Officer, Borosil Renewables Ltd. He has been serving as a Chief Financial Officer from 12 February 2020. The company seeks appoint him as Whole – Time Director designated as a Whole – Time Director and Chief Financial Officer for three years from 27 May 2024. Sunil Roongta received Rs. 14.1 mn in FY24, including perquisite value of ESOPs exercised by him. We are unable to estimate his total compensation over his tenure, as he is entitled to receive stock options for which there is no guidance provided, nor is there an absolute cap. The remuneration terms, therefore, are open ended: the company must cap overall remuneration in absolute amounts and disclose the quantum of stock options that he is eligible to receive, including the performance metrics which determine his variable pay and stock options. While we support his appointment as Whole – Time Director, due to lack of adequate disclosures, we are unable to estimate his overall remuneration.
- Edelweiss Mutual FundMultiple resolutions merged into one
- SBI Mutual FundSunil Roongta, 54, is Whole – Time Director and Chief Financial Officer, Borosil Renewables Ltd. He has been serving as a Chief Financial Officer from 12 February 2020. The company seeks to appoint him as Whole – Time Director designated as a Whole – Time Director and Chief Financial Officer for three years from 27 May 2024.Sunil Roongta received Rs. 14.1 mn in FY24, including perquisite value of ESOPs exercised by him. We are unable to estimate his total compensation over his tenure, as he is entitled to receive stock options for which there is no guidance provided, nor is there an absolute cap. The remuneration terms, therefore, are open ended: the company must cap overall remuneration in absolute amounts and disclose the quantum of stock options that he is eligible to receive, including the performance metrics which determine his variable pay and stock options. While we support his appointment as Whole – Time Director, due to lack of adequate disclosures, we are unable to estimate his overall remuneration. We do not support the resolution.
6 for3 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs. 1,60,000/- exclusive of applicable taxes and out of pocket expenses, payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants (Firm Registration No. 100221), appointed as Cost Auditors by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for the financial year 2024 - 25.MoreLess
7 for0 against
Mutual fund votes, meeting of 25 Aug 2023, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Statutory Auditor thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2023 and report of Statutory Auditor thereonMoreLess
5 for0 against- To approve re-appointment of Mr. P. K. Kheruka, who retires by rotation and being eligible, offers himself for re-appointment
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with Law. Governance concern: Combined position of Chairman and Executive Director.
4 for1 against - To ratify remuneration of the Cost Auditors1 for0 against
- To approve revision in terms of remuneration of Mr. Ramaswami V. Pillai (DIN: 00011024), in his capacity as a Whole Time Director of the Company for the financial year 2022-235 for0 against
- To approve the remuneration of Mr. Ramaswami V. Pillai (DIN: 00011024), in his capacity as a Non-Executive Director of the Company, for the financial year 2023-245 for0 against
- To approve revision in terms of remuneration of Mr. Ashok Jain (DIN: 00025125), Whole Time Director of the Company for the financial year 2022-234 for0 against
To approve re-appointment and terms of remuneration of Mr. Ashok Jain (DIN: 00025125) as Whole Time Director and Key Managerial Personnel of the Company for a period of 2 years i.e. from August 01, 2023 to July 31, 2025MoreLess
5 for0 against- To approve raising of funds by way of issue of securities of the Company5 for0 against
- To approve functional support service transactions between (i) the Company / its wholly owned subsidiaries and Company’s stepdown subsidiaries and (ii) inter-se between stepdown subsidiaries4 for0 against
- To approve providing of financial support by the Company/ its wholly owned subsidiaries/ Interfloat Corporation (step down subsidiary) to GMB Glasmanufaktur Brandenburg GmbH (step down subsidiary)5 for0 against
3 proposals not matched to one resolution
- 6) Approve performance linked incentive of Rs. 6.0 mn to Ashok Jain (DIN: 00025125) as Whole time Director for FY23.1 for0 against
9) Approve related party transactions for functional support services between Borosil Renewables Limited, wholly owned subsidiaries: Geosphere Glassworks GmbH and Laxman AG and step-down subsidiaries: GMB Glasmanufaktur Brandenburg GmbH and Interfloat Corporation for FY25 not exceeding EUR 2 mn (approx. Rs 174.0 mn).MoreLess
1 for0 againstRatification of remuneration of Rs.1,60,000/-exclusive of applicable taxes and out of pocket expenses Payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants (Firm Registration No. 100221), appointed as Cost Auditors by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for the financial year 2023-24.MoreLess
4 for0 against
Mutual fund votes, meeting of 17 Mar 2023, 4 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Financial support by the Company / its wholly owned subsidiary to GMB Glasmanufaktur Brandenburg GmbH, a stepdown subsidiary of the Company3 for0 against
13 proposals not matched to one resolution
1) Approve related party transactions for sale/ purchase of goods between Borosil Renewables Limited (Borosil) and its stepdown subsidiaries: GMB Glasmanufaktur Brandenburg GmbH (GMB) and Interfloat Corporation (Interfloat) from FY24 to FY26.MoreLess
1 for0 against2) Approve related party transactions for sale of goods between step-down subsidiaries of Borosil Renewables Limited (sale of goods by GMB Glasmanufaktur Brandenburg GmbH to Interfloat Corporation) from 21 October 2022 till 31 March 2026.MoreLess
1 for0 against3) Approve related party transactions for functional support services between Borosil Renewables Limited, wholly owned subsidiaries: Geosphere Glassworks GmbH and Laxman AG and step-down subsidiaries: GMB Glasmanufaktur Brandenburg GmbH and Interfloat Corporation for FY24.MoreLess
1 for0 against4) Approve provision of financial support by Borosil Renewables Limited and its wholly owned subsidiary: Geosphere Glassworks GmbH to 86% step-down subsidiary: GMB Glasmanufaktur Brandenburg GmbH till 31 March 2024.MoreLess
1 for0 against- 5) Approve provision of financial support to GMB Glasmanufaktur Brandenburg GmbH (GMB) by Borosil Renewables Limited, Geosphere Glassworks GmbH, Laxman AG and Interfloat Corporation during FY24.1 for0 against
To continue / enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), for sale of goods from GMB Glasmanufaktur Brandenburg GmbH to Interfloat Corporation, both overseas step down subsidiaries of the Company on material terms and conditionsMoreLess
1 for0 againstTo continue / enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), for sale of goods from GMB Glasmanufaktur Brandenburg GmbH to Interfloat Corporation, both overseas step down subsidiaries of the Company on material Not exceeding EUR 35 million (approximately Rs 309.09 crore) from October 21, 2022 (i.e. date since when GMB and Interfloat became step down subsidiaries of the Company) up to March 31, 2023.MoreLess
2 for0 againstTo enter into contract(s)/ arrangement(s)/transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the Company and GMB Glasmanufaktur Brandenburg GmbH / Interfloat Corporation, overseas stepdown subsidiaries of the Company, for sale / purchase of goods on respective material terms and conditionsMoreLess
1 for0 againstTo enter into contract(s)/ arrangement(s)/transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the Company and GMB Glasmanufaktur Brandenburg GmbH / Interfloat Corporation, overseas stepdown subsidiaries of the Company, for sale / purchase of goods on respective material Not exceeding EUR 20 million (approximately Rs.176.62 crore) for financial year 2023-24 with annual increase of 15% over immediate previous year for the next two years.MoreLess
Against Nippon India Mutual Fund
- Nippon India Mutual FundOmnibus approval for more than one year
1 for1 againstTo enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the related parties for availing or providing the functional support services on material Not exceeding EUR 2 million (approx.Rs 17.66 crore) for the financial year 2023-24.MoreLess
2 for0 againstTo enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the related parties for availing or providing the functional support services on material terms and conditionsMoreLess
1 for0 againstTo enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the related parties for providing the financial support on material Not exceeding EUR 15 million (Approx. Rs 132.47 crore) for the financial year 2023-24.MoreLess
2 for0 againstTo enter into contract(s)/ arrangement(s)/ transaction(s) or any renewal(s) or extension(s) or modification(s) thereto (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise), between the related parties for providing the financial support on material terms and conditionsMoreLess
1 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeJurisdictional Assessing Officer, Circle 6(1)(2) MumbaiSince 11 Sep 2023There is no change in status since last quarter. The case is pending for order giving effect before assessing officer as per the directions of the Hon’ble Supreme Court.
At the filing before: For Assessment Year 2016-17, the case was selected for reassessment. Company had filed a Writ Petition before Hon'ble Bombay High Court against notices issued u/s 148A(b) and order passed u/s 148A(d). Hon'ble Bombay High Court decided the matter in favour of the Company and thus, the re-assessment proceedings were quashed as the sanction of approval for re-opening was not received from appropriate authority. Department filed an appeal before Hon'ble Supreme Court. The Hon'ble Supreme Court has set aside the order passed by the Hon'ble Bombay High Court and has directed the Assessing Officers to pass appropriate orders. The amount involved in the said matter is Rs. 1952.56 Lakhs. The case is pending for order giving effect before assessing officer as per the directions of the Hon'ble Supreme Court.MoreLess
- Tax disputeJoint Commissioner of Commercial Tax ,VadodaraSince 31 Mar 2008There is no change in status since last quarter. The case is yet to be listed for hearing.
At the filing before: Sales Tax Credit on the disallowance of Fuel treated as consumables / Processing Material pertaining to FY 2000-01, 2002-03 and 2004-05 having aggregate demand of Rs. 550.84 Lakhs. An appeal has been filed before Joint Commissioner of Commercial Tax, Vadodara. The case is yet to be listed for hearing.MoreLess
- Tax disputeHon'ble High Court of GujaratSince 28 Jul 2017The case was listed for a hearing on 22.07.2026. Next Hearing date is 07.10.2026.
At the filing before: The department has filed appeals before the Hon'ble High Court of Gujarat, against CESTAT order to quash the demand for an extended period for Transit Insurance aggregating to Rs. 523.98 Lakhs. Department has filed appeal before the Hon'ble Gujarat High Court.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesFeb 2025, checked by ICRA Limited | 517.66 | Satisfaction of the liability of the Company arising from standby letter of credit (SBLC) extended on behalf of the Company as a security to the lenders of GMB Glasmanufaktur Brandenburg GmbH (“GMB”), a step-down subsidiary of the Company | 185.00 | 185.00 | No |
| Preferential IssuesFeb 2025, checked by ICRA Limited | 517.66 | Capital Expenditure for expansion of the Company’s existing production capacity for manufacturing of solar glass at its facility situated in Bharuch, Gujarat | 332.66 | 50.14 | No |
| Preferential IssuesOct 2025, checked by CARE Ratings Limited | 371.49 | Capital Expenditure for expansion of the Company’s existing production capacity for manufacturing of solar glass at its facility situated in Bharuch, Gujarat | 317.34 | 75.52 | No |
| Preferential IssuesOct 2025, checked by CARE Ratings Limited | 371.49 | General Corporate Purposes | 54.15 | 10.00 | No |