General information about company

Name of The CompanyBorosil Renewables Limited
BSE Scrip Code502219
NSE SymbolBORORENEW
MSE SymbolNOTLISTED
Date of Start of Financial Year01-04-2024
Date of End of Financial Year31-03-2025
Reporting PeriodFirst half yearly
Date of Start of Reporting Period01-04-2024
Date of End of Reporting Period30-09-2024
Level of rounding to be used in disclosing related party transactionsLakhs
Whether the company has any related party?Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?Yes



(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/publicNA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of bank’s staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.NA
(III) Whether the company is a ‘high value debt listed entity’ according to regulation 15 (1A)?No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?Yes
Latest Date on which RPT policy is updated05-05-2022
Indicate Company website link for updated RPT policy of the Companyhttps://borosilrenewables.com/Files/Revised%20RPT%20Policy.pdf






Related party transactions

Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Sr No.Details of the party (listed entity /subsidiary) entering into the transactionDetails of the counterpartyType of related party transactionDetails of other related party transactionValue of the related party transaction as approved by the audit committeeRemarks on approval by audit committeeValue of transaction during the reporting periodIn case monies are due to either party as a result of the transactionIn case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investmentsDetails of the loans, inter-corporate deposits, advances or investmentsNotes
NamePANNamePANRelationship of the counterparty with the listed entity or its subsidiaryOpening balanceClosing balanceNature of indebtedness (loan/ issuance of debt/ any other etc.)Details of other indebtednessCostTenureNature (loan/ advance/ intercorporate deposit/ investment )Interest Rate (%)TenureSecured/ unsecuredPurpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1Borosil Renewables LimitedBorosil LimitedEntities with joint control or significant influence over entityPurchase of goods or services75Please refer Notes2.7922.76-13.46Textual Information(1)
2Borosil Renewables LimitedBorosil LimitedEntities with joint control or significant influence over entityAny other transactionFunctional support / shared service transactions1000NA233.4700Textual Information(2)
3Borosil Renewables LimitedGeosphere Glassworks GmbHWholly Owned Subsidiary CompanyInterest received0NA289.17823.391149.56Textual Information(3)
4Borosil Renewables LimitedGeosphere Glassworks GmbHWholly Owned Subsidiary CompanyInter-corporate deposit0NA07984.288277.76Inter-corporate deposit0.07133 yearsUnsecured Acquisition of GMB Glasmanufaktur Brandenburg GmbH & related expensesTextual Information(4)
5Borosil Renewables LimitedGeosphere Glassworks GmbHWholly Owned Subsidiary CompanyInvestment0NA023.0423.04Investment 0NAUnsecured Expansion of overseas businessTextual Information(5)
6Borosil Renewables LimitedLaxman AGWholly Owned Subsidiary CompanyAny other transactionReimbursement of Acquisition cost0NA0282.870Textual Information(6)
7Borosil Renewables LimitedLaxman AGWholly Owned Subsidiary CompanyInvestment0NA05758.865758.86Investment 0NA Unsecured Expansion of overseas businessTextual Information(7)
8Borosil Renewables LimitedRenew Green (GJS Two) Pvt LtdAssociate CompanyInvestment0NA011001100Investment 0NAUnsecured Setting up of hybrid wind+solar power plantTextual Information(8)
9Borosil Renewables LimitedRenew Green (GJS Two) Pvt LtdAssociate CompanyAny other transactionProcurement of Power0Please refer Notes781.0600Textual Information(9)
10Borosil Renewables LimitedClean Max Prithvi Private LimitedAssociate CompanyInvestment0Please refer Notes000.49Investment 0NAUnsecured Setting up of hybrid wind+solar power plantTextual Information(10)
11Borosil Renewables LimitedPradeep Kumar KherukaPromoter and Executive chairmanRemuneration0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee280.800Textual Information(11)
12Borosil Renewables LimitedShreevar KherukaPromoter and Non-executive DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee4.500Textual Information(12)
13Borosil Renewables LimitedAshok Kumar JainWhole time Director & Key Managerial PersonnelRemuneration0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee75.6800Textual Information(13)
14Borosil Renewables LimitedSunil Kishanlal RoongtaWhole time Director & Key Managerial Personnel -Chief Financial OfficerRemuneration0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee49.7600Textual Information(14)
15Borosil Renewables LimitedSunil Kishanlal RoongtaWhole time Director & Key Managerial Personnel -Chief Financial OfficerAny other transactionShare based payment0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee0.3600Textual Information(15)
16Borosil Renewables LimitedSunil Kishanlal RoongtaWhole time Director & Key Managerial Personnel -Chief Financial OfficerAny other transactionAmount received on exercise of ESOP0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee19.200Textual Information(16)
17Borosil Renewables LimitedKishor Harish Talreja Key Managerial Personnel-Company SecretaryRemuneration0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee8.500Textual Information(17)
18Borosil Renewables LimitedRavi Vaishnav Key Managerial Personnel-Company SecretaryRemuneration0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee13.7500Textual Information(18)
19Borosil Renewables LimitedRaj Kumar JainIndependent DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee5.7500Textual Information(19)
20Borosil Renewables LimitedPradeep Vasudeo BhideIndependent DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee3.7500Textual Information(20)
21Borosil Renewables LimitedSyed Asif IbrahimIndependent DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee4.7500Textual Information(21)
22Borosil Renewables LimitedShalini Kalsi KamathIndependent DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee6.2500Textual Information(22)
23Borosil Renewables LimitedHaigreve KhaitanIndependent DirectorAny other transactionDirector Sitting Fees0Remuneration is in accordance with the remuneration policy approved by the Nomination and Remuneration Committee2.2500Textual Information(23)
24Borosil Renewables LimitedKHAITAN & CO AOR (New Delhi)Firm where one of the director is a partnerAny other transactionProfessional fees1500Please refer Notes8.130-7.32Textual Information(24)
25GMB Glasmanufaktur Brandenburg GmbHNico SuccolowskyManaging DirectorRemuneration0NA72.5900Textual Information(25)
26GMB Glasmanufaktur Brandenburg GmbHTorsten FrohnerChief Financial OfficerRemuneration0NA4900Textual Information(26)
27Laxman AGEuro Treuhand AGDirectorAny other transactionProfessional fees0NA29.420-1.78Textual Information(27)
28Interfloat CorporationMartin ZuggManaging DirectorRemuneration0NA105.7100Textual Information(28)
29Laxman AGInterfloat CorporationSubsidiary CompanyInter-corporate deposit0NA03157.622974.38Inter-corporate deposit0.0772 yearsUnsecured General Corporate Purposes Textual Information(29)
30Laxman AGInterfloat CorporationSubsidiary CompanyAny other transactionFunctional support Service Income0Please refer Notes50.127.6626.34Textual Information(30)
31Laxman AGInterfloat CorporationSubsidiary CompanyInterest received0NA113.2922.2318.77Textual Information(31)
32Laxman AGInterfloat CorporationSubsidiary CompanyInvestment0NA02736.492837.08Investment 0NAUnsecured Expansion of business Textual Information(32)
33Geosphere Glassworks GmbHGMB Glasmanufaktur Brandenburg GmbHSubsidiary CompanyInvestment0NA06225.946454.79Investment 0NAUnsecured Expansion of business Textual Information(33)
34Laxman AGGeosphere Glassworks GmbHFellow SubsidiaryInter-corporate deposit0NA54.44056.12Inter-corporate deposit0.072 yearsUnsecured General Corporate Purposes Textual Information(34)
35Laxman AGGeosphere Glassworks GmbHFellow SubsidiaryInterest received0NA1.8401.9Textual Information(35)
36GMB Glasmanufaktur Brandenburg GmbHInterfloat CorporationFellow SubsidiarySale of goods or services383325Please refer Notes21106.11935.532920.73Textual Information(36)
37Borosil Renewables LimitedGMB Glasmanufaktur Brandenburg GmbHStep-Down Subsidiary CompanyAny other transactionCommission for extension of SBLC10.82Please refer Notes10.8236.5441.8Textual Information(37)
38Borosil Renewables LimitedGMB Glasmanufaktur Brandenburg GmbHStep-Down Subsidiary CompanyAny other transactionReimbursement of Expenses from128.56Please refer Notes128.5600Textual Information(38)
39Borosil Renewables LimitedGMB Glasmanufaktur Brandenburg GmbHStep-Down Subsidiary CompanyAny other transactionExtension of SBLC21652.27Please refer Notes021652.2721325.75Textual Information(39)
Total value of transaction during the reporting period23511.79



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Textual Information(1)1) Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is for a period of 3 years. 2) Since GST input tax credit on purchase of goods was not available to the Company, GST amount has been considered as part of transaction value. Hence, there will be difference in amount of transaction reported by the Company and Borosil Limited, to the extent of GST amount. 3) For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount payable/liability and positive balance indicates Amount receivable/Asset. 4) Opening and Closing balance mentioned in the field viz. in case monies are due to either party as a result of the transaction, for Sr. No. 1 represents the aggregate opening and closing balance for transactions of Sr. No. 1 & 2.
Textual Information(2) Value of Transaction indicates (a) expenditure of Rs. 7.50 lakhs towards rent & Rs. 4.20 lakhs towards security deposit in relation to premises taken on leave & license basis, Rs. 48 lakhs towards other functional support expense and Rs.53.77 towards reimbursement of expenditure, and (b) functional support income of Rs. 120 lakhs.
Textual Information(3)For the field viz. in case monies are due to either party as a result of the transaction, positive closing balance indicates Amount Receivable/Asset.
Textual Information(4)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(5)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(6)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(7)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(8)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(9)The transacation with Renew Green (GJS Two) Private Ltd (RENEW) was approved by the Board because RENEW was not a related party of the Company at the time of granting of approval for this transaction. Hence, Audit Committee approval was not applicable.
Textual Information(10)1) The Board of the Company has approved the investment of upto 17.83 crores (constituting 49% stake) in Clean Max Prithvi Private Ltd, in one or more tranches, for setting up the hybrid power plant under captive consumption model. Clean Max Prithvi Private Ltd was not a related party of the Company at the time of approving this investment by the Board. Hence, the approval of Audit Committee was not required to be obtained. Pursuant to the initial investment of Rs. 0.49 lakhs, Clean Max Prithvi Private Ltd became an associate of the Company & thereby its related party. Therefore the closing balance of investment with related party has been reported for half year ended September 30, 2024. 2) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
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Textual Information(17)Mr. Kishor Talreja ceased to be employee of the Company pursuant to his resignation, effective from close of business hours of 06th May 2024
Textual Information(18)Mr. Ravi Vaishnav has been appointed as Company Secretary & Compliance Officer of the Company w.e.f. 27th May 2024
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Textual Information(24)1) Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is for a period of 5 years. 2) For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount Payable/Liability
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Textual Information(27)For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount Payable/Liability
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Textual Information(29)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(30)1) Amount mentioned in the filed viz. value of the related party transaction as approved by the committee, refers to the combined approval for transactions between Borosil Renewables Ltd / Geosphere Glasssoworks GmbH / Laxman AG and GMB Glasmanufakur Brandenburg GmbH / Interfloat Corporation. 2) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(31)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(32)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(33)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(34)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(35)For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(36)1) Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is for a period of 3 years. 2) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(37)1) The Company has extended its SBLC facility (which is secured against the Company's assests) basis which the loan has been availed by GMB Glasmanufaktur Brandenburg GmbH (GMB). For this arrangement, the Company charges a commission to GMB as certain percentage on outstanding amount of SBLC and Bank Charges are also reimbursed at actuals. Hence, the amount approved for commission and reimbursement of bank charges in this regard is not specific and varies from time to time. Therefore, the amount mentioned for approved limit for commission and expense reimbursement is equal to the value of the transaction during the period under review. 2) Opening and Closing balance mentioned in the field viz. in case monies are due to either party as a result of the transaction, for Sr. No. 43 represents the aggregate opening and closing balance for transactions from Sr. No. 43 to 44. 3) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
Textual Information(38)The Company has extended its SBLC facility (which is secured against the Company's assests) basis which the loan has been availed by GMB Glasmanufaktur Brandenburg GmbH (GMB). For this arrangement, the Company charges a commission to GMB as certain percentage on outstanding amount of SBLC and Bank Charges are also reimbursed at actuals. Hence, the amount approved for commission and reimbursement of bank charges in this regard is not specific and varies from time to time. Therefore, the amount mentioned for approved limit for commission and expense reimbursement is equal to the value of the transaction during the period under review.
Textual Information(39)1) The Company has extended its SBLC facility (which is secured against the Company's assests) basis which the loan has been availed by GMB Glasmanufaktur Brandenburg GmbH (GMB). For this arrangement, the Company charges a commission to GMB as certain percentage on outstanding amount of SBLC and Bank Charges are also reimbursed at actuals. Hence, the amount approved for commission and reimbursement of bank charges in this regard is not specific and varies from time to time. Therefore, the amount mentioned for approved limit for commission and expense reimbursement is equal to the value of the transaction during the period under review. 2) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.