Borosil group is eyeing to become a Rs 2,000-crore company in the next five years. This will be backed by good double-digit growth coming from its consumer products division and solar glass business.
The glass maker is expecting to attain a combined turnover of around Rs 1,000 crore in the current financial year and from there, it hopes that it has "potential" to double it in the next 4-5 years. The Borosil group consists of two listed entities, including Borosil Glass Works Ltd and Gujarat Borosil Ltd.
Apart from this, the company is strengthening its retail footprint further by adding 1,000 retailers every year pan India. Borosil has a network of around 15,000 retail outlets in the general trade.
Shreevar Kheruka, Chief Executive Officer of Borosil, said, “We expect to be a Rs 2,000-crore company by 2025. Borosil Glass Works and Gujarat Borosil have a combined turnover of Rs 770 crore last year. This year, our target is to take the combined turnover to Rs 1,000 crore.”
Borosil sees a good growth opportunity emerging from the anti-plastic sentiments across India, which will ultimately benefit its consumer product division selling glass and steel-based kitchenware. Apart from this, increasing the rate of adoption of solar panels would fuel the growth of its solar glass business further.
“We are trying to capture the anti-plastic sentiment, which is prevalent across the country today. Consumer segment, which had a turnover of Rs 350 crore last year, grew over 30 per cent in the first half of this year, and solar, which contributed Rs 220 crore, expects to end the year with 35 per cent growth,” Kheruka further stated.