#1INVESTOR PRESENTATION Financial Performance for the quarter and financial year ended on 31st March 2022 BOROSIL renewables Si lll lle#22 DISCLAIMER BOROSIL renewables "This investor presentation has been prepared by Borosil Renewables Limited ("Borosil") on a strictly confidential basis. Certain statements in this presentation may be 'forward looking statements' within the meaning of applicable laws and regulations. These forward looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside our control. These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward looking statements. Important developments that could affect the Company's operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward looking statements to reflect subsequent events or circumstances. This presentation cannot be copied and disseminated in any manner. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of Borosil. This should not be construed as an offer to sell or the solicitation of an offer to buy any securities or fresh issuance of any securities of the Company"#3KEY ABBREVIATIONS ADD Anti-dumping Duty GWh : Gigawatt-hour PA : Per Annum ARC : Anti-Reflective Coating INR Indian Rupee PAT : Profit after tax AS : Anti-soiling IP : Intellectual Property PBT : Profit before tax BCD : Basic Custom Duty IPO Initial Public Offering PID : Potential Induced Degradation BRL : Borosil Renewables Limited IPP : Independent Power Producers PLF : Plant Load Factor CAGR : Compounded Annual Growth Rate JNNSM Jawaharlal Nehru National Solar Mission PPA : Power Purchase Agreement Capex Capital Expenditure KUSUM : Kisan Urja Suraksha evam Utthan Mahabhiyan PPM : Parts Per Million CAR : Corrective Action Request PV : Photovoltaic KWh Kilowatt Hour CEA : Central Electricity Authority REC : Renewable Energy Certificate CP GP : Consumer Product kWp : Kilo Watt peak ROCE Return on capital employed CPSU : Central Public Sector Undertakings mm : Millimetre RPO : Renewable Power Obligation CSR : Corporate Social Responsibility Mn : Million SECI Solar Energy Corporation of India CVD Countervailing Duties MNRE : Ministry of New and Renewable Energy SEZ : Special Economic Zone DGTR : Directorate General of Trade Remedies MT : Metric Tons SG#1 : Solar Glass plant 1 Earnings before interest, tax, depreciation MW : Megawatt SG#2 : Solar Glass plant 2 EBITDA : and amortization N.A. : Not Available SG#3 : Solar Glass plant 3 EU : European Union NAPCC National Action Plan on Climate Change SG#4 : Solar Glass plant 4 EVA Ethylene Vinyl Acetate SGD NSM : National Solar Mission Safeguard Duty FY : Financial Year ending 31st March SIP : Scientific and Industrial Products OEE : Overall Equipment Effectiveness TPD Ton per Day GW : Gigawatt 3 BOROSIL renewables#4SAFETY INTEGRITY CUSTOMER FOCUS RESPECT CONTINUAL IMPROVEMENT ACCOUNTABILITY OUR VISION IS TO BE THE MOST CUSTOMER-CENTRIC COMPANY BOROSIL renewables#55 | Update on the acquisition of a 100% stake in Interfloat Group by Borosil Renewables Ltd. Share purchase agreement signed on 25th April 2022. Transaction is expected to be completed in about 2-3 months. BOROSIL renewables#6Borosil Renewables Ltd. to acquire 100% stake in Interfloat and GMB (Interfloat group), the largest solar glass manufacturer in Europe BOROSIL renewables INTER FLOAT GMB 6 | COMING TOGETHER TO MEET THE DIVERSE CUSTOMER NEEDS WITH SCALE, RELIABILITY AND QUALITY BOROSIL renewables#7ЯЭТИ TAO FE Banemoheq right 22sig 15/02 oonamioteq ripir говір твог 7 BOROSIL renewables#88 | The existing ownership structure of Interfloat Group HS Timber Group 86% 14% Interfloat Blue Minds 86% 14% GMB BOROSIL renewables#99 | Shareholding structure-post acquisition BOROSIL RENEWABLES LIMITED 100% WOS 100% WOS 68.09% LIHC Holding company for Interfloat (Liechtenstein) 31.91% INTERFLOAT GIHC Holding company for GMB (Brandenburg, Germany) 100% WOS GMB BOROSIL renewables#10• What does this acquisition bring to Borosil Renewables Ltd. (BRL) De-risking manufacturing facilities with a presence in two geographies. BOROSIL renewables 10 | Europe is on a high growth trajectory in solar and now also promoting local manufacturing of high-efficiency solar cells and modules with a focus on local sourcing of components and reducing dependence on the entire value chain from China. • With the addition of 300 TPD operating manufacturing capacity in Europe, BRL becomes a significant global solar manufacturer with an installed capacity base of 750 TPD, which is projected to grow in the immediate future to 1300 TPD in 2022 (after SG-3) and 2050 TPD in 2023-24 (after expansions in Europe and SG-4). • Addition to BRL's topline of about Rs. 525 Cr immediately and an additional about Rs. 350 Cr. After the expansion of the capacity from 300 TPD to 500 TPD in Europe by the end of CY23. • BRL will have an access to a wider customer base, thereby leading to a gain in the market share in Europe. Demand in the EU is expected to rise significantly and it will be easier to enhance sales with a local production base. • Leverage synergies in the areas of new and differentiated products and segments as the combined entity will be able to serve the customers better. • Improving efficiencies at both the locations by optimal utilization of capacities by joint planning of production and sales and adopting the most suitable processes to make the operations of each plant more competitive.#1111 | 1. 2. 3. 4. CONTENTS Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➤ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials 5. Borosil Renewables Limited 6. 7. Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#1212 | 1. 2. 3. 4. 5. 6. 1 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#1313 | Performance Highlights: FY22 FY22 Vs FY21 (Y-o-Y) 28% 31% 44% 85%* Revenue EBITDA PBT PAT BOROSIL renewables 644.2 Crore * 265.0 Crore * 219.8 Crore * 165.8 Crore * An increase of 53% after excluding the impact of one-time tax of INR 18.60 crore charged in the FY21 on account of disputed income tax matters of the earlier years#14Recent Industry Updates Imposition of Basic Customs Duty (BCD) BOROSIL renewables The customs notification has been issued on 1st February 2022 making the imposition of Basic Customs Duty (BCD) on solar cells (25%) and modules (40%) effective from April 1, 2022 following the announcement from the Ministry of New and Renewable Energy (MNRE) in March 2021. This has come into force from 1st April 2022. Production linked incentive (PLI) Scheme Production Linked Incentive (PLI) scheme for domestic solar cell and module manufacturing hiked to Rs. 24,000 Cr in the Budget 2022 from Rs. 4,500 Cr announced earlier. This will propel domestic manufacturing of high efficiency solar modules and solar cells with further backward integration to create a robust eco system to ensure a robust supply chain for high growth. 14 | ALMM Approved List of Models and Manufacturers (ALMM) for government-supported schemes, including projects from where distribution companies procure electricity for supply to their consumers. As a major step, the scheme was extended to all the projects under net-metering and open access projects and the same to be effective from 1st October 2022. These policy measures underline strong government support for Indian solar manufacturing Industry, now on the verge of multifold growth#1515 | 1. 2. 3. 4. 5. 6. 2 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers ➤ Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#16BOROSIL renewables Increasing share of Solar in Rising Renewables Total Installed Power Generation Capacity in India 399 GW as of Mar 22 (in GW) Renewables, 110, 27% Hydro, 47, 12% Coal+Lignite, 211, 53% Out of total installed power generation capacity of 399 GW as of Mar'22 in India, renewables form around 27% of the same (110 GW) of which solar (54 GW) is about 49% of the renewable capacity ➤ Government of India has a target to install 175 GW of Renewable Energy by 2022, of which Solar is 100 GW The target for Solar has since been raised to install 300 GW by 2030. FY22 has witnessed the highest annual installations and set the pace for future 16 | Ref: CEA Nuclear, 7, 2% Diesel, 1, 0.1% Gas, 25, 6% Growth of Installed solar power generation capacity in India (GW) 54.0 40.1 34.6 13.9 28.2 5.5 21.7 6.4 12.3 6.5 6.8 3.7 9.4 3.0 5.5 1.1 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Annual Capacity addition (GW) Cumulative Installed Capacity (GW)#1717 | BOROSIL renewables Indian solar Industry: Growth Drivers and enablers National Solar Mission Targets 100 GW of Installed Capacity by 2022 which is targeted to grow to 300 GW by 2030. Need annual solar installations of 25 GW to achieve the target SECI Tenders Tenders by SECI for large ISTS connected projects assuring offtake and payment security to the project developers Kusum Program 30.8 GW by 2022 with an incentive for farmers to install Solar Pumps/Grid Connected Projects etc. with domestic content requirement for Solar Cells and Modules to boost Domestic Manufacturing. This is expected to be 110 GW by 2030 CPSU Program 12 GW of Solar Projects proposed for Captive Power Consumption (2019 – 2023) with domestic content requirement for Solar Cells and Modules to boost Domestic Manufacturing. 5 GW capacity awarded recently to CPSUs. PLI Scheme Total Production Linked Incentive (PLI) scheme hiked to Rs. 24,000 Cr. In budget 2022 for domestic solar cell and module manufacturing up from Rs. 4,500 Cr announced earlier. This will propel domestic manufacturing of high efficiency solar modules and solar cells with further backward integration to create a robust eco system to ensure a robust supply chain for high growth. National Tariff Policy Enforcing the Renewable Purchase Obligation targets to promote constant growth of Solar Energy Solarization of Railways 500 MW of Rooftop Generation Capacity by 2022 and 20 GW of Land Capacity to be installed by 2030 for self sustenance Emergence of Electric Vehicles Emergence of Electrical Vehicles along with viable battery storage expected to lead to considerable increase in demand Demand for RTC Renewable Power Upcoming Hybrid (Wind+Solar) tenders and falling prices of storage batteries are expected to drive demand for solar power#1818 | BOROSIL renewables Indian Solar Module Manufacturing Industry: On the cusp of Surge in Manufacturing India has around 15 GW of solar module manufacturing capacity as of Mar'22 ➤ Due to stiff competition from low-priced imports and low installations, the actual utilization of the Domestic Manufacturing is about 6 GW annually (about average 40-45% utilisation) However, this trend is expected to change with a favorable policy framework, which will help create enablers for investments into domestic manufacturing and is also expected to increase share of locally produced modules and components in the installations with potential to raise exports. About 37 GW new capacity expected to be added by various existing and new players taking the capacity to over 50 GW. Waaree Energies: 3 GW ☐ Vikram Solar: 3 GW The leading module manufacturers/ developers among others who announced investments in additional/new module ■ Mundra Solar (Adani): 4 GW ■ Renew Power: 2 GW Tata Power: 4 GW Reliance : 4 GW manufacturing capacities Shirdi Sai Electricals: 4 GW ☐ Coal India: 4 GW Avaada Energy: 2 GW#1919 | 3 1. 2. 3. 4. 5. 6. Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#2020 | The BOROSIL Group: Leadership Guiding Consistent Growth Borosil Renewables Ltd. High Performance Solar Glass Consumer Products Borosil Ltd. Scientific, Industrial & Laboratory Glassware and instruments Pharmaceutical Packaging Borosil Group - Net Sales (in USD Mn) 2 200 150 120 94 62 29 58 94 259 111 67 36 32 79 84 82 65 FY17 FY18 FY19 FY20 FY21 FY22E Borosil Ltd. Borosil Renewables Ltd. BOROSIL renewables#2121 | Borosil Renewables Ltd (BRL): A Growth Story Anti dumping margin of 40% is established India imposes Anti-Dumping Duty on Chinese imports to promote CPSU/KUSUM schemes, domestic manufacturing linked solar "Aatmanirbhar Bharat". Focus on manufacturing in India • Imposition of Countervailing Duty on solar glass imports from Malaysia Basic Customs Duty on imports of solar cells (25%) & modules (40%), PLI scheme and ALMM • Glass-Glass Bifacial modules on rise The Solar Glass market against Chinese domestic projects manufacturing Solar PV market 2021 internationally seeing high growth along- worldwide goes imports in EU 2020 through upheavals 2019 2017 with key domestic 2015 • Corporate restructuring across Borosil Group ☐ initiatives • 2012 2008 GBL moves to capitalize the GBL secures its market position GBL benefits in significant opportunity in through diversification focusing on the the exports segment Solar Glass domestic market GBL commissioned tempering line with capacity to fully temper lower thicknesses, going down to 2.1mm GBL added a second furnace with 240 TPD as per schedule within 14 months • GBL did a complete rebuild of its first furnace taking up the capacity to 210 TPD ■ BRL announces doubling the manufacturing capacity, to add a 3rd furnace with 550 TPD (expected to be completed by Q3 CY22). Capacity to reach 1000 TPD. In view of the robust demand for domestic solar modules, the demand for solar glass is set to rise. ■ BRL plans to add 4th and 5th furnace OF 550 TPD each (expected to be commissioned in Q4CY23 and Q4CY24) BOROSIL renewables#22Borosil Renewables Ltd: Capacity Expansion to keep pace with market growth CY18 CY 20 Est CY 22 Est CY 24 180 TPD 450 TPD 1000 TPD 2100 TPD BRL's Installed Capacity (TPD)-Projected Roadmap towards 2100 TPD (~13 GW) Rebuilt 1st furnace with enhanced capacity of 210 tons/day Added 2nd furnace with 240 tons/day capacity Running at full capacity Proposed addition of a 3rd furnace with a capacity of 550 tones/day by Q3 of CY22 Full capacity will be available in CY23 Proposed addition of a 4th and 5th furnace with a capacity of 550 tones/day each by Q4 of CY23 and Q4 CY24 resp. Increased capacity will be available in CY24 and CY25 resp. BOROSIL renewables 550 Furnace #4 & #5 550 550 Announced recently Furnace #3 550 550 550 Under construction 240 240 240 240 240 240 180 210 210 210 210 210 210 CY18 CY19 CY20 CY21 Est. Est. Est. CY22 CY23 CY24 Furnace # 1 Furnace # 4 Furnace # 2 Furnace # 5 Furnace # 3 22 | Present domestic demand > BRL's post-expansion capacity, robust growth in the sector in domestic manufacturing of modules, current high share of imports and high growth in exports = Easy absorption of additional production volumes#2323 | Drivers of growth of Solar glass manufacturing in India Recent announcements by various Module Manufacturers/ Solar Plant Developers to add 37 GW of module manufacturing capacity taking the same to about 50 GW over next 3 years Antidumping Duty (ADD) on solar tempered glass imports from China since August 2017 Potential to increase export of Solar Glass A very good potential to increase exports to Europe, Americas, Russia, Turkey and MENA due to renewed focus on domestic modules manufacturing in Solar PV (ADD applicable on Chinese glass in EU and Turkey) Levy of a Countervailing Duty (9.71%) on the Solar tempered Glass imports from Malaysia since March 2021 Shift towards Glass-glass and Bifacial modules globally Budget 2021: Established a level playing field between DTA and SEZ Units SEZ units now need to pay Antidumping duty/ CVD on inputs used for goods sold in DTA area. Increased demand expected for domestic solar glass. BOROSIL renewables#24BOROSIL renewables BRL's Factory at Bharuch, Gujarat 24 1 i#254 25 | 1. 2. 3. 4. 5. 6. Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#26Financial Performance for the quarter and financial year ending 31.03.2022 (1/3) BOROSIL renewables Key Parameters Q4 FY22 Q3 FY22 Q4 FY21 Growth % Growth % FY22 FY21 Growth % Q4 FY22 over Q4 FY22 over Q4 FY 21 Q3 FY 22 FY22 over FY 21 Revenue 179.05 168.51 193.98 -8% 6% 644.22 502.27 28% EBITDA 62.43 75.49 106.6 -41% -17% 265.01 202.73 31% EBITDA % 34.9% 44.8% 55.0% 41.1% 40.4% Interest 0.65 0.42 2.12 69% -55% 2.8 7.96 65% Depreciation 10.48 10.61 10.46 0% 1% 42.45 42.08 -1% PBT 51.3 64.46 94.02 45% -20% 219.76 152.69 44% 26 | PAT 46.38 45.73 66.87 -31% 1% 165.85 89.64 85%#2727 | Financial Performance for the quarter ending 31.03.2022 (2/3) During the quarter, the Company achieved Net Sales of INR 179.1 Cr., a decrease of 8% over the corresponding quarter of the previous year. The average ex-factory prices of tempered solar glass during the quarter were lower by about 14% compared to the corresponding quarter in the previous year as the higher volumes helped contain the decline in sales value to 8%. ➤ Export Sales during Q4FY22 (including to customers in SEZ) were INR 39.3 Cr. (INR 38.9 Cr. in the corresponding quarter), comprising 21.9% of the turnover. ➤ EBITDA during the quarter was INR 62.4 Cr. corresponding to an EBITDA margin of 34.9% as compared to a margin of 55% in Q4FY21. The lower EBITDA margin was mainly due to lower ex-factory realizations and higher input costs as compared to the corresponding quarter. BOROSIL renewables#2828 | Financial Performance for the financial year ending 31.03.2022 (3/3) ➤ During the year, the company recorded Net Sales of INR 644.2 Cr., an increase of 28% over the previous year. The average ex-factory prices of tempered solar glass during the year were about INR 133 per mm as compared to INR 119 per mm in the previous year. ➤ Export Sales during the year FY22 (including to customers in SEZ) were INR 171 Cr. ( INR 110 Cr. in the corresponding period), comprising 26.6% of the turnover. ➤ EBITDA during the year was INR 265 Cr. corresponding to an EBITDA margin of 41.1% as compared to a margin of 40.4% in the previous year. The higher EBITDA margin was led primarily by better ex-factory realizations even after absorbing higher landed cost of inputs, higher production and state Government subsidies (INR 9.7 Cr). ➤ PAT during the year was INR 165.9 Cr. corresponding to an PAT margin of 25.7% as compared to a PAT margin of 17.8% in FY21. BOROSIL renewables#2929 | 1. 5 Performance Highlights and recent industry updates Indian solar Industry Overview 2. ➤ Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited 3. 4. Financials 5. 6. Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#30Product Portfolio MARKET SEGMENTS • High Performance Solar Glass for Utility scale ground solar PV High Performance Green House Solar Rooftop, Water pumps Bifacial, Glass-glass, BIPV Solar Thermal projects • • CUSTOMIZED SIZES Glass for 72/60 cells module (and other sizes specified by the customer) Capable to manufacture larger sizes of tempered glass for modules with M10/ M12 cells SAM Glass Glass for Small Area Modules • • BOROSIL renewables . ADDITION OF VALUE ADDED PRODUCTS Shakti High Efficiency Matt - Matt Finish Selene Anti-Glare Solar Glass GLASS IN VARIOUS THICKNESSES • 2 mm • 3.2 mm . 2.5 mm • 4 mm • 2.8 mm 6 mm GLASS COMPOSITION Borosil Solar Glass with low Antimony content NoSbEra: Borosil Solar Glass - without Antimony wwww. PRODUCT PORTFOLIO • SOLAR GLASS WITH COATINGS Anti Reflective Coatings (AR) Anti Soiling Coatings (AS) AR + AS in a same coating BOROSIL renewables#3131 | • · • • • USPS of Borosil's Solar Glass and Superior Performance ENGINEERED FOR LONG TERM DURABILITY Low sodium. Low PID (Potential Induced Degradation) High chemical durability: superior glass performance Very High hydrolytic resistance ENHANCED MECHANICAL STRENGTH Withstood 180 Mpa, (Standard 90 Mpa as per EN 12150-1) 2 x more strength than heat-strengthened glass 4 x more strength than annealed glass . • BOROSIL'S FULLY TEMPERED GLASS IS SAFER AND STRONGER Tempered glass has a breakage of small particles Much safer than the large & sharp pieces resulting from broken heat strengthen glass % T 92.4% 91.9% 91.4% 90.9% 90.4% MAI 89.9% HIGHER TRANSMISSION Light transmission: Solar glass of leading suppliers BOROSIL renewables 1.8 1.6 1.4. 1.2 89.4% 0.8 0.6 88.9% 88.4% 0.4 0.2 87.9% 87.4% 0 380 580 780 980 1180 1380 1580 1780 1980 2180 2380 Borosil -Company X Wavelength (nm) Company H Company Y ---AM 1.5 (W*m-2*nm-1) Wavelength range (nm) Supplier 380-780 380-1100 380-2500 BOROSIL 91.76% 91.68% 91.31% Company X 91.73% 91.51% 91.00% Company H 91.74% 91.58% 91.08% Normal heat strengthen glass Borosil's fully tempered glass company Y 91.41% 91.39% 91.18% Spectral Intensity#32• Value added products by Borosil in Solar Glass SHAKTI: HIGH EFFICIENCY SOLAR GLASS IN MATT-MATT FINISH • Recently developed a solar glass with matt finish on both sides Leading to a Higher light transmission Transmission value reaching higher than 94% with use of an appropriate AR Coating No changes necessary in certification of BoM (bill of material) due to usage of matt-matt glass in place of prismatic-matt glass BOROSIL renewables "SELENE" ANTI-GLARE SOLAR GLASS FOR PV PROJECTS NEAR AIRPORTS • • Reflection/ glare from the PV modules installed near Airports may interfere pilot or airport staff's visibility. Glare can cause a brief loss of vision/ Flash blindness for a period of 4- 12 s. Glare is a safety concern! In Dec'19 Borosil launched Selene ARC glass module Antiglare glass Module Fully tempered 2 mm Solar Glass World's 1st fully tempered thinnest Solar Glass for versatility and longevity Reduces the overall weight of the module leading to Project Cost Optimization Offers Superior Edge-to-Edge sealing increasing module lifetime (up to 40 years) and reliability Best suited for Floating PV, Frameless Modules, etc. Actual pictures Modules with AR Modules with Selene anti-glare coated Glass 32 | glass Glare No Glare#33Innovation by Borosil in Solar Glass ANTIMONY IN SOLAR GLASS IS POISONOUS! Induces respiratory problems Interferes with gastro-intestinal Discarded solar glass contain 0.25% - 0.30% antimony. As long ago as 1566, the Faculty of medicine Paris declared Antimony to be poisonous. Since then, research has found Antimony to be more deadly than originally thought functions Causes skin problems Inhibits healthy reproduction Carcinogenic Causes DNA damage Breaks down chromosomes in human leukocytes ANTIMONY IS MORE DEADLY THAN ARSENIC! BOROSIL renewables NoSbEra: ANTIMONY-FREE SOLAR GLASS BY BOROSIL • • A PATENTED TECHNOLOGY BY BRL No other forms of flat glass today contains Antimony. Only solar glass does. It leaches out of glass like sugar from a candy stick Borosil is the only solar glass manufacturer in the world who has been able to successfully remove the Antimony from Solar glass Obtained a certification from SPF, Switzerland Borosil P-13 Borosil P-10 Borosil P-03 Borosil P-05 SG-A-G-06 Borosil-P-ARC-08 Borosil P-12 Borosil P-01 SG--A--P--04 Borosil P-02 33 | Borosil P-xx - Inverters with modules having Borosil's NoSbEra Glass Borosil P-09 Borosil -P-07 Borosil P-11 SG-x-x-xx-Inverters with modules having Solar Glass supplied by a leading European manufacturer#34World Market Share [%] 100% Products to meet the evolving requirements Growth of Glass-Glass modules 90% 80% 70% 60% 50% 40% World Market Share [%] 30% 20% 10% 0% 2020 ITRPV 2021 Growth of Thinner glass 100% 90% 80% 70% 60% 50% 40% ITRPV 2021 30% 20% 10% 0% 2021 2023 2025 2028 2031 2020 2021 2023 2025 2028 2031 glass front - glass back >3mm between 2 mm to 3 mm <2mm glass front-foll Growth of Bifacial modules Solar PV market is moving towards • Bifacial modules • • Glass to glass modules Frameless modules In order to achieve the optimum module weight, the Solar PV market is moving towards use of thinner glass 100% 90% 80% 70% 60% 50% 40% 30% 20% ITRPV 2021 10% 0% 2020 2021 Bifacial modules Monofacial modules 2023 2025 2028 Ref: International Technology Roadmap for PV 2021 Advanced Applications Thinner Glass Bifacial solar modules Floating solar modules Upcoming segments of 2031 Building Integrated PV bifacial c-Si modules with bifacial cells monofacial c-Si modules with bifacial cells monofacial c-Si modules with monofacial cells Withstood 180 Mpa (Standard 90 Mpa as per EN 12150-1) USPS Lesser in weight Enhanced mechanical strength Long term durability with least degradation (Frameless modules with 2 mm front & back glass) As a leading supplier of fully tempered thinner glass (up to 2mm), we are poised to serve these emerging segments 34 | and some of our customers have already obtained certification for 2.8 and 2.5 mm glass BOROSIL renewables#35Innovations in Manufacturing Processes with a view to care for environment CO2 FOOTPRINT • • Efficient and cost-effective, low Energy Intensive Process The Company has a 22% lower carbon footprint in comparison to the default score for glass manufacturing in Life Cycle Assessment. This value is the best value so far for glass manufacturing as per a very reputed European institute. Use of low-cost renewable energy. Owns 1.5 MW of wind farm and proposed investing in 10 MW Wind-Solar Hybrid power plant for commissioning in FY23 O FRIENDLY ECO • World's 1st company to 35 | develop a process to remove a toxic element Antimony (Sb) from solar glass (Patented technology) ECO *** FRIENDLY Use of reusable packing material thereby saving • cutting of trees Received a patent to use the waste materials as a part of raw material Bag filters - For fine dust control Close loop water circuit system- For water treatment and reuse of water Installed sewage treatment plant BOROSIL renewables#3636 | 1. 2. 3. 4. 5. 6. 6 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#3737 | Borosil Renewables Ltd.: A Strong Domestic and International Presence USA MEXICO FRANCE SPAIN PORTUGAL BRAZIL GERMANY ே NETHERLANDS CROATIA RUSSIA GREECE JORDAN ITALY BULGARIA TURKEY EGYPT SRILANKA ] INDONESIA • BOROSIL renewables A Global Presence with products matching international standards and quality requirements with ~20% of revenue coming from exports Sole Manufacturer of Solar Glass in India with lower lead times and flexible order quantities supplying to over 100 domestic customers · Majority international customers based in Western Europe/Turkey. The Company has expanded outreach in geographies like Americas, Russia and MENA while nurturing and growing the existing markets and adding customers • New segments being developed: Glass for greenhouses and BIPV etc#3838 | 1. 2. 3. 4. 5. 7 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process 6. Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#39Borosil Renewables: An ESG Journey ESG is outcome-driven and not just good intentions. BOROSIL renewables Business Risk ethics management Corporate governance 39 | Human Capital Shareholder rights Governance ESG themes Social Customer responsibility Climate change Environmental Community Impact Natural resource use Waste management opportunities Environmental Health and Safety Various important ESG issues in the current context Environment Emissions Water . Social الس Governance Employee health and safety • Risk management Investors • Community system • Energy relations ● Code of conduct • Climate change • Labour practices Emissions Customers Suppliers • Water Energy Climate change Waste Emissions Water Energy • • Health and safety Community relation Risk management Code of conduct Employee health & safety Board Structure Code of conduct customer relationship Employees Emissions Water • Employee health & safety Risk management Code of conduct Energy • Community relationship What matters to our stakeholders: Analysis based on our interactions with them#40Borosil Renewables: An ESG Journey Borosil Renewables Limited has embarked on a transformational journey where ESG is the core of how we do business. Our strategic ESG priorities Our actions in FY22 BOROSIL renewables 40 | Aim to achieve Carbon neutral operations Create a positive water balance Greener planet • • Explore waste management opportunities Transition to low carbon energy Achieve a zero-accident workplace Integrate suppliers as business partners Social equity Become an equal opportunity employer Building resilient communities Focusing on highest ethical standards • Creating a risk management framework Robust governance Creating a strong IT infrastructure • • Plans to undertake GHG monitoring and inventorization to track emissions About 30% of the sales were dispatched in reusable packaging material and exploring further opportunities Exploring an enhanced renewable energy procurement Achieved zero fatality year on year Launch an equal opportunity policy by FY23 Company wide strategic supply chain management program to be launched Multiple community development programs launched on need basis A group-wide code of conduct applicable to all employees and leadership. Plans are in place to launch a mandatory training ESG risks are incorporated in the risk management framework A group-wide program on the evaluation of IT risks BRL aims to disclose quantifiable targets in short to medium term and transparently report performance against the targets.#4141 | Ongoing Initiatives at Borosil Renewables Ltd.: Societal Responsibility and CSR BOROSIL renewables The company helps running a CBSE school (CKG Highschool) in Govali village Contribution to Gram Vikas Trust for Vidyasaathi Project Contribution towards Shroff SR Rotary Institute of Chemical Technology, Bharuch • • Sewa Yagna Samiti. Bharuch. Borosil supports the Civil Hospital with their Nutritional requirements (milk) Creation of infrastructure for drinking water at Govali Village Contribution to tailoring institute run by SEWA Rural (Society for Education Walfare and Action Rural, Jhagadia, Bharuch) -#42Societal Responsibility and CSR activities across the Borosil Group BOROSIL renewables On the CSR front, BRL continues to play an active role in helping farmers in water deficient Parli district of Maharashtra improve their annual incomes. COVID 19 Initiatives during Covid-19: Donation of PPE kits to Covid-19 Warriors - Doctors and Police, Donation of glassware to hospitals, distribution of essentials in Govali village and food packets to the migrant labour INDIA The foundation is supporting women athletes who are striving to win medals at the Tokyo Olympics in 2021 through financial sponsorship at the Inspire Institute of Sports in Vijaynagar, Karnataka INDIAN CANCER SOCIETY WOMEN EMPOWERMENT LALITA SEHRAWAT. WRESTLING 42 | The Borosil foundation is supporting education of the poorest strata of society through Friends of Tribals Society. The foundation is supporting the Indian Cancer Society by helping them spread awareness about the ease of cancer testing. The foundation is supporting various initiatives on women empowerment through the Edelgive foundation Borosil's partnership with Indian Olympic Association as the Indian contingent's hydration partner till Tokyo 2020 and Beyond.#4343 | 1. 2. 8 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 4. Financials 5. 6. Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#44Recognition received for 2 mm fully tempered solar glass BOROSIL renewables सत्यमेव जयते प्रधान मंत्री Prime Minister New Delhi 04 October, 2017 Honourable Prime Minister of India Mr. Narendra Modi Message from Hon. Prime Minister on the occasion of inauguration of 2 mm Fully Tempered solar glass facility Shri Pradeep Kheruka, I congratulate Gujarat Borosil Limited on having successfully completed trials of fully tempered 2mm solar glass. Your enterprise is contributing towards the twin goals of 'Make in India' and enhancement of India's solar power capacity. Your work in boosting the renewable energy sector is appreciable. Environmentally conscious organisations can play an instrumental role in strengthening India's commitment to sustainable development. I congratulate the management and the staff of Gujarat Borosil Limited for their good work in scaling new heights and enhancing the Indian manufacturing industry's profile globally. I congratulate and wish the Gujarat Borosil Limited all success for the inauguration of a new facility. World's 1st company to produce 2 mm fully tempered solar glass Shri Pradeep Kheruka Yours sincerely, N (Narendra Modi)#45Other Industry awards and recognition NATIONAL AWARDS 2021 WINNERS CONGRATULATIONS M/S BOROSIL RENEWABLES LIMITED, MUMBAI National Award for Commercialisation of Indigenous Technology COSOO BOROSIL RENEWABLES WINS THE NATIONAL AWARD 2021 FOR TECHNOLOGY DEVELOPMENT. INDIA GREEN MANUFACTURING CHALLENGE 2020-21 tional Res Inte for Manufacturing GOLD MEDAL BOROSIL RENEWABLES LIMITED HARUCH) THE EXINDME TRAD 40 UNDEY M Gue and n & National Award 2021 By Dept. of Science and Technology, Govt. of India Prestigious Gold Medal at India Economic Times' 40 under 40 award for 2019 - Green Manufacturing Challenge 2020-21 Mr. Shreevar Kheruka INSTITUTE QUALITY CI BOROSIL Guja Borosil Limited Now Iron r Gla 45 | GBL honored with CAPEXIL Award for Excellence in Exports for the years 2015-16 & 2016-17 CII BE Star Recognition award 2017 Emerging Leader - Excellence in Operations Management BestUnder Award Ceremony and Dinner November 2, 2015 Kuala Lumpur, Malaysia Forbes Presenting Sponsor SUNWAY Forbes Forbes Forbes Forbes rbes Forbes Forbes Forbes ANJAN B 15th FGI AWARDS for EXCELLENCE in the category of "Outstanding Entrepreneur" FT 1000 High-Growth Companies Asia-Pacific Certificate The Financial Times and Statista Hereby recognise Gujarat Borosil as one of FT 1000 High-Growth Companies Asia-Pacific 2018 Criteria for inclusion in the ranking Revit lead 100.000 EST) Revenue of astron USD generated in De pund Ohe apping Goparry is at a tetany or bench office other He raced in an of countries in Anza-Pacific The revenue growth between 2015 and 2010 was primasity organie de interrolly st જાણો સત કે ઘાઇ yr) | Lagle Moulton Leyla Doulton Special Reports Ed and Executive Enter Pinancial T FT statista Dr. Pedrich Schwand CED and Fundor Best Under a Billion category 2015 FT 1000 High Growth companies Asia Pacific BOROSIL renewables#461. 2. 9 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing 3. Introduction to Borosil Group and a growth story of Borosil Renewables Limited 4. Financials 5. 6. Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details 46 | BOROSIL renewables#47Corporate Governance: A professionally managed business backed up by family P.K. Kheruka Executive Chairman Shreevar Kheruka Vice Chairman D & ORE Ashok Jain Whole-Time Director 47 | Industrialist having Rich experience in the Glass Industry Also the Managing Director and CEO of Borosil Limited with more than 15 years Corporate experience. 40 years in Corporate Sector - Finance, Commercial, Sales and General Management. 40 years of experience in various industries in techincal, production, projects and General Management V. Ramaswami Whole-Time Director Raj Kumar Jain Independent Director Wide experience in Statutory Audit, Concurrent Audit, Revenue Audit, Stock Audit and has specialization in Investigation Audit. Shalini Kamath Independent Director - Three decades of work experience in three distinct fields Human Resources, Business Development and Social & Community Development. Pradeep Bhide Independent Director Asif Ibrahim Independent Director Haigreve Khaitan Independent Director BOROSIL renewables He is an I.A.S. (Retd.) and has a career spanning 39 years in the Indian Administrative Service Former Director of the Intelligence Bureau, the main internal intelligence agency of India. Partner of Khaitan & Co. and also heads the firms Merger and Acquisition Division#48BOROSIL renewables Corporate Governance: Senior Management Name Designation Mr. Pradeep Kumar Kheruka Executive Chairman Mr. Shreevar Kheruka Vice Chairman Mr. Ashok Jain Whole Time Director Key Responsibility ➤ Provide leadership and direction to the Board and assume responsibility for the strategic initiatives. ➤ Provide direction to the organization and establish a policy based governance system. Performance monitoring and evaluation. ➤ Handling Sales & Marketing and Corporate Finance Mr. Ramaswami V Pillai Whole Time Director ➤ Handling Technical and Projects Mr. Sanjeev Jha COO Mr. Sunil Kishanlal Roongta CFO Mr. Kishor Talreja 48 | Company Secretary ➤ Handling Manufacturing Operations ➤ Handling Finance & Accounts and Commercial Handling Secretarial & Listing compliances.#4949 | 1. 2. 3. 4. 5. 6. 10 Performance Highlights and recent industry updates Indian solar Industry Overview Indian Solar Industry: A Sunny Outlook and road map, Growth Drivers and enablers Indian Solar Module Manufacturing Industry: On the cusp of a surge in manufacturing Introduction to Borosil Group and a growth story of Borosil Renewables Limited Financials Borosil Renewables Limited Products and Pioneering achievements Value to our customers through innovative products Innovations in the manufacturing process Domestic and International Customer base 7. Sustainability, social responsibility, and our ESG journey 8. Awards and Recognition 9. Corporate Governance, Board of Directors and KMPS 10. Stock information and Contact Details BOROSIL renewables#5050 | Stock Information- As of 31st March 2022 SHARES ISSUED 13,03,55,279 Non-Institutional Investors & others 33% NSE CODE: BORORENEW BSE CODE: 502219 Domestic Institutional Investors 0.06% Foreign Portfolio Investors 5% SHAREHOLDING PATTERN BOROSIL renewables Promoters and Promoter Group 61.69%#5151 | Contact Information Registered Office Mumbai भारत डायमंड बाजार NABARD Head Office Capital Social कॅपिटल सोशिअल change auatcha Mumbai Bank of Baroda 100 100 100 ank Integrated Treasury Wing Videsh Bhavan, Ministry of External Affairs विदेश भवन, परराष्ट्र... 41 ONGC ओएनजीसी Kurla Court chof दंडाधिकॉरी... Registered Office 1101, Crescenzo, G-Block, Opp. MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 ICICI Bank Kurla 00 LBS Marg, Mumbai... INVESTOR RELATIONS [email protected] Tel: +91 22 6740 6300, Fax: +91 22 67406514 MARK SUZUKI मार्क सुझुकी Borosil Renewables Limited LA Hotel Metro Masjid E Baitul Hamd कॅनरा बँक मंडळ कार्यालय / ... WeWork Shree Datta Mandir o श्री दत्त मंदिर Chunabhatti Ba Works - Ankleshwar Rajpipla Road, Village: Govali, Taluka: Jhagadia, District Bharuch-393 001 (Gujarat) Tel: 02645-258100 BOROSIL renewables#52THANK YOU AN INVESTMENT ISN'T AN INVESTMENT IF IT HURTS THE PLANET... BOROSIL renewables