BOROSIL LTD SHARE PRICE: TARGET ACHIEVED!!!

Hello and welcome back to one more interesting article wherein We’ll discuss the Borosil ltd share price which was analyzed earlier and has achieved the target predicted by us in a span of 95 days.

Let’s check the parameters which helped the Borosil ltd share price to achieve its total target of 128% approximately in 145 days.

BUSINESS ANALYSIS FOR TARGET ACHIEVEMENT

The primary business of the company is the manufacturing of extra clear patterned glass and low iron solar glass for application in photovoltaic panels, greenhouses, and flat plate collectors.

These are the best times for the company as it is the only producer of solar glass in India.

Borosil ltd is doubling its capacity of solar glass manufacturing to 900 tonnes per day with a whooping investment of Rs 500 Cr and this project in Barauch plant, Gujarat will be completed by July 2022.

The company saw an increase in demand due to the supply disruptions among solar glass manufacturers in China. This ultimately led to an increase in the solar modules.

FINANCIAL ANALYSIS FOR TARGET ACHIEVEMENT

QUARTERLY RESULTS:

Figures in Rs. Crores

Quarterly Results	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021
Sales	62	44	58	75	94	54	114	140	194	136	161
Expenses	55	41	54	66	74	45	82	88	90	74	107
Operating Profit	7	3	4	9	20	10	32	52	104	62	54
OPM %	0.11	0.06	0.07	0.12	0.21	0.18	0.28	0.37	0.53	0.45	0.34
Other Income	3	1	1	1	1	1	1	1	3	6	5
Interest	0	0	1	2	3	2	2	2	2	2	0
Depreciation	4	4	7	9	12	10	11	11	10	11	11
Profit before tax	5	-1	-3	-1	6	-2	20	41	94	56	48
Tax %	0.23	0.36	0.22	0.16	0.32	0.24	0.29	0.74	0.29	0.29	0.29
Net Profit	4	-1	-2	-1	4	-2	14	11	67	40	34
EPS in Rs	0.4	-0.06	-0.23	-0.09	0.35	-0.16	1.23	0.81	5.14	3.04	2.62

For the quarter ended 30-09-2021, the company reported a sales of ₹ 161 Cr which is an increase of 30% from the sales registered in the year ago period.

The expenses have increased but it is evident from the sales values that the company is using the revenue to increase its business.

Net profit is moving in a range and in the last 3 quarters the company is reporting a commendable profit.

BALANCE SHEET:

Reserves had dropped significantly in the year 2019 but with the news of expansion there is a great interest shown by the investors in Borosil Ltd share price.

In the quarter ended 30-09-21, the borrowings have reduced slightly which is a great sign for the company.

Figures in Rs. Crores

Balance Sheet	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Sep 2021
Share Capital	3	3	3	2	2	2	9	11	13	13
Reserves	624	654	694	634	769	819	323	315	601	677
Borrowings	2	1	2	33	0	0	42	92	79	71
Other Liabilities	30	33	50	37	41	65	51	75	90	96
Total Liabilities	659	691	750	705	813	887	425	494	783	857
Fixed Assets	80	173	156	158	109	108	117	345	320	294
CWIP	14	6	6	5	5	4	125	1	4	39
Investments	409	380	445	380	454	509	46	7	280	262
Other Assets	155	132	143	162	245	266	138	141	178	262
Total Assets	659	691	750	705	813	887	425	494	783	857

SHARE HOLDING SYNOPSIS

Share holding pattern	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021
Promoters	72.85	72.85	72.85	72.85	70.5	70.5	70.5	61.89	61.83	61.78	61.74
FIIs	2.49	2.59	2.6	2.63	2	0.3	0.42	8.79	6.99	5.26	5.03
DIIs	0.28	0.3	0.3	0.26	0.19	0.15	0.06	2.41	1.94	0.04	0.04
Public	24.38	24.25	24.25	24.25	27.31	29.05	29.03	26.91	29.24	32.92	33.18

Promoters have maintained their position in this stock with a whopping 61.74%.

FIIs have reduced their stake in this company but the retail investors are showing interest which is not a bad sign for the growth of the company.

Now, let’s deep dive into the technicalities of Borosil Ltd share price.

CHART PATTERN ANALYSIS

During the earlier analysis we did highlight the formation of the Reverse head and shoulder pattern.

The pattern was under formation and identifying this premium stock is a great achievement.

Click here for previous analysis on Borosil Ltd share price.

Borosil Ltd share price did achieve its target of ₹ 371 and rallied till ₹ 620 showcasing a target achievement of 128%.

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