The duties, which set a floor price of $677 per metric tonne for imports from China and $565 per metric tonne for Vietnam, aim to stabilise the domestic solar glass industry and reduce the impact of cheap imports.
Currently, domestic production accounts for 30–40% of India’s solar glass demand, with the rest met through imports.
While domestic prices will still be lower than the cost of imported glass, the price correction in the coming months is expected to boost Borosil’s standalone margins.
Pradeep Kheruka, Executive Chairman of Borosil Renewables, said the company aspires to achieve margins of around mid-20% levels by the January-March 2025 quarter.
Borosil’s margin which had dipped to 5% from nearly 35% two years ago, have rebounded to 18% over the past few quarters.
The consolidated performance will remain muted as it is still influenced by the challenges faced in its German operations.
Also Read | Why power developers are worried about anti-dumping duties on solar glass imports
Borosil Renewables is considering starting its next phase of capacity expansion with plans to add 500 tonnes of capacity, in line with the company’s vision to strengthen its position in the growing solar energy market and contribute to India’s renewable energy goals.
The company, which has a market capitalisation of ₹7,813 crore, has seen its shares rise 38% over the last year.
Also Read | Borosil Renewables calls for anti-dumping duty to curb solar glass imports from China
First Published: Dec 10, 2024 11:56 AM IST
