Borosil Scientific Limited (BOROSCI)
₹107.42 -1.13% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Borosil Scientific's revenue was ₹107 Cr (+11.2% year on year, -25.3% on the previous quarter), and net profit ₹4.4 Cr (against a loss a year earlier); the operating margin was 7.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹107 | +11.2% | -25.3% |
| Operating profit | ₹8.5 | +73.5% | -73.6% |
| Net profit | ₹4.4 | from loss | -83.9% |
| EPS (₹) | 0.49 | from loss | -84.0% |
| Operating margin | 7.9% | — | — |
BOROSCI delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 72.7% of the BOROSCI shares traded on NSE were taken to delivery, against the stock's own 20-session average of 55.5%. That is higher than usual for this stock. Turnover was only ₹41 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.
Delivery in the last 5 sessions: 49.3% · 53.0% · 46.8% · 64.8% · 72.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Borosil Scientific Limited has disclosed the voting results and Scrutinizer's report for its 35th Annual General Meeting held on September 25, 2026. Shareholders approved all agenda items with the requisite majority, including the adoption of FY26 financial statements, re-appointment of directors, and approval of material related-party transactions with Borosil Limited. Additionally, special resolutions regarding amendments to the ESOP scheme and secondary acquisition of shares through a Trust route were approved with over 99.97% overall favor. Overall turnout represented 70.13% of total voting capital, heavily driven by the promoter group.
- All resolutions passed with requisite majorities, representing 70.1262% of total voting capital polled (6,23,78,353 votes polled out of 8,89,51,525 shares)
- Resolution 3 for material related-party transactions with Borosil Limited received 99.9732% votes in favor among voting eligible shareholders
- Approval granted for secondary acquisition of shares and company funding through a Trust for Employee Stock Option Schemes with 99.9735% and 99.9743% approval respectively
- Re-appointment and remuneration for Whole-time Director & CEO Vinayak Madhukar Patankar approved with >99.97% votes in favor
Borosil Scientific Limited held its 35th Annual General Meeting on September 25, 2026, conducting both ordinary and special business items. Key agenda items submitted to shareholder vote included enabling resolutions for raising funds via equity/securities, amending ESOP schemes with secondary trust acquisition, and re-appointing Whole-time Director & CEO Vinayak Madhukar Patankar. Approval was also sought for material related-party transactions with Borosil Limited. Consolidated voting results and the scrutiniser's report will be declared separately.
- 35th AGM held on September 25, 2026, starting at 11:00 a.m. and concluding at 12:09 p.m. IST
- Remote e-voting window was open from September 22, 2026 (9:00 a.m.) to September 24, 2026 (5:00 p.m.)
- Special resolution tabled to approve raising funds via issuance of Equity Shares or other Securities
- Special resolutions presented to amend ESOP schemes and allow secondary market purchase of shares via Trust route
- Ordinary resolution put forward for material related party transactions with Borosil Limited
Borosil Scientific has approved a ₹60 crore capital expenditure to establish an additional glassware manufacturing facility in Bharuch, Gujarat. The expansion will increase specific glassware capacity from ~15 lakh units per annum to ~108 lakh units per annum, a more than sevenfold rise, to meet rising demand from Borosil Limited. The existing capacity is operating at ~87% utilization. Commercial production is slated to begin by March 2027, financed via internal accruals and/or debt, with eligible subsidies to be sought under the Viksit Gujarat Industrial Policy 2026.
- Production capacity expanding from ~15 lakh units/year to ~108 lakh units/year (over 7x increase)
- Existing capacity utilization is high at ~87%
- Estimated capex of ₹60 crore, representing ~12.5% of TTM revenue (₹478 Cr) and ~13% of net worth (₹462 Cr)
- Commercial production targeted to commence by March 2027
Borosil Scientific Limited has issued an intimation regarding the dispatch of letters containing the web link to its FY2025-26 Annual Report and 35th AGM notice to shareholders whose emails are not registered. The 35th Annual General Meeting is scheduled to be held on Friday, September 25, 2026, at 11:00 AM IST via Video Conferencing. The cut-off date for reckoning e-voting rights has been set as Friday, September 18, 2026. Remote e-voting will commence on September 22, 2026, and conclude on September 24, 2026.
- 35th Annual General Meeting scheduled for Friday, September 25, 2026, at 11:00 AM IST via VC/OAVM
- Cut-off date for determining voting eligibility is Friday, September 18, 2026
- Remote e-voting window opens September 22, 2026 (09:00 AM IST) and closes September 24, 2026 (05:00 PM IST)
- Notice and Annual Report for FY 2025-26 sent electronically pursuant to SEBI Listing Regulations
Borosil Scientific Limited has submitted its Annual Report for FY 2025-26 along with the notice for its 35th Annual General Meeting (AGM). The AGM is scheduled to take place on Friday, September 25, 2026, at 11:00 AM IST via Video Conferencing/Other Audio-Visual Means. The document details the company's business divisions across laboratory consumables, instrumentation (LabQuest), pharmaceutical packaging, and process systems. As of March 31, 2026, the company held mutual fund investments valued at ₹122.44 crore (₹12,243.92 lakhs).
- 35th Annual General Meeting scheduled for September 25, 2026, at 11:00 AM IST via Video Conferencing.
- Portfolio encompasses over 4,500 specialized laboratory products across 4 manufacturing locations in India.
- Export footprint spans across 90+ countries with a network of 150+ channel partners.
- Standalone mutual fund investments designated at fair value through profit or loss stood at ₹12,243.92 lakhs as of March 31, 2026.
Borosil Scientific Limited has scheduled its 35th Annual General Meeting (AGM) for Friday, September 25, 2026, at 11:00 AM IST via Video Conferencing/OAVM. The company has fixed Friday, September 18, 2026, as the cut-off date to determine shareholder eligibility for voting. Remote e-voting will begin on September 22, 2026 (9:00 AM IST) and close on September 24, 2026 (5:00 PM IST). The Annual Report for FY26 is being dispatched to shareholders registered as of August 21, 2026.
- 35th AGM scheduled for Friday, September 25, 2026, at 11:00 AM IST via VC/OAVM
- Shareholder voting cut-off date set as Friday, September 18, 2026
- Remote e-voting window runs from September 22, 2026 (9:00 AM) to September 24, 2026 (5:00 PM)
- Annual Report FY26 dispatch reference date set as Friday, August 21, 2026
Borosil Scientific Limited has allotted 4,475 equity shares of Re. 1 each following the exercise of vested options under the Company’s Employee Stock Option Scheme (BSL-ESOS). This allotment, approved on August 13, 2026, increases the total paid-up equity share capital to Rs. 8,89,51,525. The dilution resulting from this specific allotment is negligible at approximately 0.005% of the total share capital. The company had previously secured in-principle listing approvals from NSE and BSE in November 2024.
- Allotment of 4,475 equity shares of face value Re. 1 each approved on August 13, 2026
- Total paid-up equity share capital increased to Rs. 8,89,51,525
- Total number of equity shares post-allotment stands at 8,89,51,525
- In-principle approvals for these shares were obtained from NSE and BSE on November 11, 2024
Borosil Scientific (BOROSCI) released its Q1-FY27 investor presentation, confirming its dominant 75% market share in the Indian laboratory glassware segment. The company reported TTM revenue of ₹467 Cr with an operating margin of 13.3%, supported by a diverse portfolio of 4,500+ SKUs. Strategic growth is focused on the 'LabQuest' instrumentation brand and expanding its export reach, which currently spans 90+ countries. Promoter holding remains stable and high at 68.27% as of June 2026.
- Dominates the Indian market with 3 out of every 4 laboratory glassware products bearing the Borosil name.
- Maintains a vast product portfolio of 4,500+ SKUs across four manufacturing locations in India.
- Export network expanded to 90+ countries, positioning the company to benefit from 'China Plus One' strategies.
- Promoter holding stands at 68.27% as of June 30, 2026, with minimal FII/DII participation at 0.5% combined.
- Commissioned a 450 kW Solar Rooftop project in February 2025 to enhance energy efficiency and ESG compliance.
Borosil Scientific reported a consolidated revenue of ₹106.75 Cr for Q1 FY27, marking an 11.2% growth over the ₹95.98 Cr reported in Q1 FY26. The company achieved a turnaround in profitability with a PAT of ₹4.30 Cr, compared to a net loss of ₹4.21 Cr in the same period last year, which was heavily impacted by a ₹6.61 Cr exceptional VRS cost. Additionally, the Board approved amending ESOP schemes to allow secondary market share acquisitions via a Trust and increased the maximum option discount from 10% to 20%.
- Consolidated Revenue increased 11.2% YoY to ₹106.75 Cr from ₹95.98 Cr.
- Turned profitable with a PAT of ₹4.30 Cr vs a loss of ₹4.21 Cr in Q1 FY26.
- Scientific segment (Lab Glass & Equipment) revenue grew to ₹66.68 Cr from ₹63.12 Cr YoY.
- Glassware segment (Pharma packaging) revenue rose to ₹38.36 Cr from ₹32.24 Cr YoY.
- ESOP discount limit increased from 10% to 20% of the market price to enhance employee incentives.
Borosil Scientific reported a consolidated revenue of ₹106.75 Cr for Q1 FY27, marking an 11.2% growth over ₹95.98 Cr in Q1 FY26. The company returned to profitability with a Net Profit of ₹4.30 Cr, compared to a loss of ₹4.21 Cr in the same period last year, which was weighed down by a ₹6.61 Cr exceptional VRS cost. However, on a sequential basis, revenue declined 25.4% from ₹143.17 Cr in Q4 FY26, suggesting seasonal fluctuations. The board also approved increasing the ESOP discount limit to 20% and allowing secondary market share acquisitions through a Trust route.
- Consolidated Revenue grew 11.2% YoY to ₹106.75 Cr, representing ~23% of TTM revenue.
- Net Profit turned positive at ₹4.30 Cr vs a loss of ₹4.21 Cr in Q1 FY26.
- Scientific segment (Lab Glass & Equipment) contributed ₹66.68 Cr, or 62.5% of total revenue.
- Glassware segment (Pharma packaging) turned a segment profit of ₹0.19 Cr vs a loss of ₹2.27 Cr YoY.
- ESOP scheme amended to increase maximum discount from 10% to 20% of the market price.
Borosil Scientific Limited has announced that Mr. Sharad Tiwari, Head of Sales (Domestic and International) for Pharmaceutical Primary Packaging, ceased to be a Senior Managerial Personnel (SMP) effective July 14, 2026. This change is due to an internal reporting restructuring, and notably, Mr. Tiwari continues to be associated with the company. Given the company's TTM revenue of ₹467 cr and its focus on pharmaceutical packaging as a growth driver, this reclassification appears to be an administrative adjustment rather than a loss of talent.
- Effective date of reclassification as non-SMP is July 14, 2026
- Mr. Sharad Tiwari remains associated with the company despite the change in designation
- The change is attributed to a shift in the internal reporting structure
- The company maintains a TTM revenue of ₹467 cr with a focus on the pharmaceutical packaging segment
Borosil Scientific Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Transfer Agent, MUFG Intime India Private Limited, confirmed that all securities of the company are in dematerialized form. For the period from April 1, 2026, to June 30, 2026, the company received zero requests for dematerialization or rematerialization. This is a standard administrative filing with no impact on business operations or financials.
- Zero (0) Demat or Remat requests were received during the quarter.
- The reporting period spans from April 1, 2026, to June 30, 2026.
- Confirmation that 100% of the company's securities are held in dematerialized form.
- The certificate was issued by MUFG Intime India Private Limited on July 1, 2026.
Borosil Scientific Limited (BOROSCI) has responded to a surveillance inquiry from the National Stock Exchange (NSE) regarding a significant increase in trading volume. The company stated that it has not withheld any material information or events that would impact price or volume behavior under SEBI Regulation 30. Management maintains that the recent activity is 'absolutely market driven.' This clarification follows a period of strong stock performance, with the price rising 69.6% over the last three months.
- NSE issued a surveillance inquiry (Ref: NSE/CM/Surveillance/17183) on June 29, 2026, regarding volume spurts.
- Company responded on June 30, 2026, confirming no undisclosed material information exists.
- Stock has delivered a 69.6% price return over the last 3 months and 51.2% over 6 months.
- Company maintains a high promoter holding of 68.08% as of March 2026.
- Current valuation stands at a P/E of 45.0 with a market capitalization of Rs 1,544 Cr.
Borosil Scientific Limited has announced the closure of its trading window effective July 1, 2026, as per SEBI insider trading regulations. This closure is in anticipation of the un-audited financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives and will last until 48 hours after the results are declared. The company will provide the specific date for the board meeting to approve these results in a future notification.
- Trading window closure begins on July 1, 2026, for all designated persons.
- Closure is related to the un-audited financial results for the quarter ending June 30, 2026.
- The window will remain closed until 48 hours after the official result announcement.
- Board meeting date for financial result approval will be intimated separately.
Borosil Scientific Limited has submitted a formal declaration from its promoter group under SEBI Takeover Regulations. The promoters, led by Pradeep Kumar Kheruka, confirmed that no equity shares were encumbered or pledged during the financial year ended March 31. As of the year-end date, the total number of encumbered shares remains at NIL. This routine but important disclosure indicates that the promoter's stake is free from debt-related liens, reflecting financial stability.
- Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- Promoters and Persons Acting in Concert (PAC) confirmed zero new encumbrances during the financial year
- Total number of equity shares encumbered as of March 31 is NIL
- The disclosure covers the entire promoter group of Borosil Scientific Limited
Financial Performance
Revenue Growth by Segment
Scientific - Laboratory Glass & equipment and Process System segment revenue for H1 FY26 was INR 134.06 Cr, a decrease of 5.37% YoY from INR 141.66 Cr. Glassware segment revenue for H1 FY26 was INR 66.15 Cr, an increase of 3.65% YoY from INR 63.82 Cr. Standalone turnover for FY25 was INR 392.49 Cr, up 10.11% YoY from INR 356.46 Cr.
Geographic Revenue Split
Domestic sales contribute approximately 85% of total revenue, while export markets account for approximately 15% of total revenue, providing a natural hedge against foreign exchange fluctuations.
Profitability Margins
EBITDA margin for FY25 was 16.8%, improving from 15.9% in FY24. Consolidated Profit Before Tax for H1 FY26 was INR 1.05 Cr, significantly impacted by an exceptional labor settlement cost of INR 6.61 Cr, compared to INR 19.43 Cr in H1 FY25. Return on Net Worth improved from 6.48% to 6.71% in FY25.
EBITDA Margin
EBITDA margin stood at 16.8% in FY25, a 90 basis point improvement over FY24's 15.9%, driven by operational efficiencies and improved inventory turnover.
Capital Expenditure
The company has planned a capital expenditure of approximately INR 40 Cr for FY26, which is expected to be entirely funded through internal accruals and available liquid surplus. Fixed assets as of March 31, 2025, were INR 97.77 Cr.
Credit Rating & Borrowing
The company maintains a strong credit rating with low leverage. Interest coverage ratio improved by 115.87% to 63.16x in FY25 due to decreased finance costs. Average utilization of fund-based working capital limits was modest at approximately 23% for the 12 months ended August 2025.
Operational Drivers
Raw Materials
Specific raw materials include glass tubing and various chemicals for scientific glass production. Cost of materials consumed for H1 FY26 (Consolidated) was INR 72.78 Cr, representing 35.8% of total revenue.
Import Sources
Not explicitly disclosed, but the company's 15% export revenue and exposure to foreign exchange fluctuations imply significant international sourcing or global pricing sensitivity.
Capacity Expansion
Planned expansion is supported by an INR 40 Cr capex budget for FY26 to meet growing demand in pharmaceutical and medical research segments. Current fixed assets are valued at INR 97.77 Cr.
Raw Material Costs
Raw material costs (Cost of Materials Consumed) were INR 143.54 Cr for FY25, representing 32.7% of consolidated revenue. Profitability remains vulnerable to raw-material price volatility.
Manufacturing Efficiency
Inventory turnover ratio improved by 16.13% to 4.45x in FY25 from 3.83x in FY24, indicating enhanced manufacturing and supply chain efficiency.
Strategic Growth
Expected Growth Rate
10.10%
Growth Strategy
Growth will be achieved through the launch of new products under the 'LabQuest' brand for lab instrumentation, leveraging deep expertise in pharmaceutical packaging, and expanding presence in export markets which currently contribute 15% of revenue.
Products & Services
Laboratory glassware, lab instrumentation (LabQuest), process systems, and pharmaceutical packaging solutions.
Brand Portfolio
Borosil, LabQuest.
New Products/Services
New product launches in the LabQuest lab instrumentation line are expected to be a primary driver for future revenue growth.
Market Expansion
The company is targeting geographic expansion through its export network, which currently serves diverse scientific needs globally.
External Factors
Industry Trends
The industry is seeing growth in pharmaceutical and medical research segments. Regulatory frameworks are frequently revised, requiring constant operational adjustments and proactive compliance planning.
Competitive Landscape
The company competes in a global market serving diverse scientific needs across industries, requiring constant innovation in lab instrumentation.
Competitive Moat
Moat is built on the strong 'Borosil' brand legacy, specialized expertise in pharmaceutical-grade glass, and a robust global distribution network. These are sustainable due to high switching costs in regulated pharma environments.
Macro Economic Sensitivity
Sensitive to GDP trends, geopolitical events, and domestic regulations which impact demand and compliance burdens.
Consumer Behavior
Demand is driven by the increasing research and development needs of the pharmaceutical and medical sectors.
Geopolitical Risks
Geopolitical instability or adverse policy changes may impact demand, costs, and stock valuation.
Regulatory & Governance
Industry Regulations
Operations are subject to evolving regulatory frameworks and manufacturing standards for pharmaceutical packaging and laboratory equipment.
Taxation Policy Impact
Current tax liabilities stood at INR 0.86 Cr as of September 30, 2025.
Legal Contingencies
The company recorded an exceptional expenditure of INR 6.61 Cr in H1 FY26 related to a settlement with workers represented by a trade union under the Trade Union's Act, 1926.
Risk Analysis
Key Uncertainties
Key risks include raw material price volatility (35.8% of revenue) and foreign exchange fluctuations (15% of revenue) without a formal hedging policy.
Geographic Concentration Risk
85% of revenue is concentrated in the domestic Indian market.
Technology Obsolescence Risk
The lab instrumentation segment (LabQuest) faces risks of technology obsolescence, requiring continuous R&D and new product launches.
Credit & Counterparty Risk
Debtors turnover was 6.75x in FY25. The company reversed a provision for doubtful advances of INR 0.05 Cr in H1 FY26, indicating stable receivables quality.
