Borosil Renewables Temporarily Cools Furnace at GMB Due to Low Demand

In response to low demand, Borosil Renewables Ltd. has announced a temporary cool down of the furnace at its step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH (GMB), located in Brandenburg, Germany.

The firm stated in its filing that this move is in line with the company's earlier communication on December 18, 2024, highlighting the challenges posed by undefined demand and the impracticality of maintaining production under such circumstances.

The controlled cool down will allow for a seamless restart when market demand stabilises. Meanwhile, GMB will continue its cold-end operations with a minimal workforce, focusing on converting semi-finished glass into finished products for pending orders.

Financially, GMB contributed significantly to Borosil Renewables in the 2023-24 fiscal year, generating INR 40,980 lakhs in revenue, accounting for 29.93 percent of the parent company’s consolidated revenue. GMB’s net worth stood at INR 14,162 lakhs, representing 16.85 percent of Borosil Renewables’ consolidated net worth.

As per the firm, this decision is part of Borosil Renewables' strategy to manage cash flow effectively and mitigate losses during a challenging period. The company remains committed to updating stakeholders and anticipates resuming full operations once demand improves.