General information about company | |
| Name of The Company | Borosil Renewables Limited |
| BSE Scrip Code | 502219 |
| NSE Symbol | BORORENEW |
| MSE Symbol | NOTLISTED |
| Date of Start of Financial Year | 01-04-2023 |
| Date of End of Financial Year | 31-03-2024 |
| Reporting Period | Second half yearly |
| Date of Start of Reporting Period | 01-10-2023 |
| Date of End of Reporting Period | 31-03-2024 |
| Level of rounding to be used in disclosing related party transactions | Lakhs |
| 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/public | NA | ||
| (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. | |||
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 transaction | Details of the counterparty | Type of related party transaction | Details of other related party transaction | Value of the related party transaction as approved by the audit committee | Remarks on approval by audit committee | Value of transaction during the reporting period | In case monies are due to either party as a result of the transaction | In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments | Details of the loans, inter-corporate deposits, advances or investments | Notes | |||||||||||
| Name | PAN | Name | PAN | Relationship of the counterparty with the listed entity or its subsidiary | Opening balance | Closing balance | Nature of indebtedness (loan/ issuance of debt/ any other etc.) | Details of other indebtedness | Cost | Tenure | Nature (loan/ advance/ intercorporate deposit/ investment ) | Interest Rate (%) | Tenure | Secured/ unsecured | Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage) | |||||||
| 1 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Purchase of goods or services | 75 | Please refer Notes | 11.21 | -11.78 | 25.05 | Textual Information(1) | ||||||||||||
| 2 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Any other transaction | Rent Paid | 39.6 | Please refer Notes | 6.6 | 0 | 0 | Textual Information(2) | |||||||||||
| 3 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Any other transaction | Functional support service expense | 1000 | Please refer Notes | 32.22 | 0 | 0 | Textual Information(3) | |||||||||||
| 4 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Any other transaction | Functional support service income | 1000 | Please refer Notes | 90.03 | 0 | 0 | Textual Information(4) | |||||||||||
| 5 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Any other transaction | Reimbursement of expenses to | 70 | NA | 41.37 | 0 | 0 | Textual Information(5) | |||||||||||
| 6 | Borosil Renewables Limited | Borosil Limited | Entities with joint control or significant influence over entity | Any other transaction | Current financial liabilities - Others -Share based payment payable | 0 | NA | 0 | -2.29 | -2.29 | Textual Information(6) | |||||||||||
| 7 | Borosil Renewables Limited | Croton Trading Private Limited | Promoter Group Entity | Purchase of goods or services | 800 | Please refer Notes | 24.22 | -10.51 | 0 | Textual Information(7) | ||||||||||||
| 8 | Borosil Renewables Limited | Geosphere Glassworks GmbH | Wholly Owned Subsidiary Company | Interest received | 0 | NA | 289.07 | 523.59 | 823.39 | Textual Information(8) | ||||||||||||
| 9 | Borosil Renewables Limited | Geosphere Glassworks GmbH | Wholly Owned Subsidiary Company | Inter-corporate deposit | 0 | NA | 0 | 7782.5 | 7984.28 | Inter-corporate deposit | 0.0715 | 2 years | Unsecured | Acquisition of GMB Glasmanufaktur Brandenburg GmbH & related expenses | Textual Information(9) | |||||||
| 10 | Borosil Renewables Limited | Geosphere Glassworks GmbH | Wholly Owned Subsidiary Company | Investment | 0 | NA | 0 | 23.04 | 23.04 | Investment | 0 | NA | Unsecured | Expansion of overseas business | Textual Information(10) | |||||||
| 11 | Borosil Renewables Limited | Laxman AG | Wholly Owned Subsidiary Company | Interest received | 0 | NA | 190.07 | 157.11 | 0 | Textual Information(11) | ||||||||||||
| 12 | Borosil Renewables Limited | Laxman AG | Wholly Owned Subsidiary Company | Inter-corporate deposit | 0 | NA | 0 | 5232.31 | 0 | Inter-corporate deposit | 0.073 | 2 years | Unsecured | Acquisition of Interfloat Corporation & related expenses; General corporate purpose & providing financial support to Interfloat. Outstanding loan along with accrued interest were converted into equity during the period under review. | Textual Information(12) | |||||||
| 13 | Borosil Renewables Limited | Laxman AG | Wholly Owned Subsidiary Company | Any other transaction | Reimbursement of Acquisition cost | 0 | NA | 0 | 275.72 | 282.87 | Textual Information(13) | |||||||||||
| 14 | Borosil Renewables Limited | Laxman AG | Wholly Owned Subsidiary Company | Investment | 0 | NA | 5717.28 | 41.58 | 5758.86 | Investment | 0 | NA | Unsecured | Expansion of overseas business; Outstanding loan along with accrued interest, granted to Laxman AG, were converted into equity, during the period under review. | Textual Information(14) | |||||||
| 15 | Borosil Renewables Limited | Renew Green (GJS Two) Pvt Ltd | Associate Company | Investment | 0 | NA | 0 | 1100 | 1100 | Investment | 0 | NA | Unsecured | Setting up of hybrid wind+solar power plant | Textual Information(15) | |||||||
| 16 | Borosil Renewables Limited | Renew Green (GJS Two) Pvt Ltd | Associate Company | Any other transaction | Procurement of Power | 0 | Please refer Notes | 906.49 | 0 | 0 | Textual Information(16) | |||||||||||
| 17 | Borosil Renewables Limited | Pradeep Kumar Kheruka | Promoter and Executive chairman | Remuneration | 0 | NA | 260 | 0 | 0 | Textual Information(17) | ||||||||||||
| 18 | Borosil Renewables Limited | Shreevar Kheruka | Promoter and Non-executive Director | Any other transaction | Director Sitting Fees | 0 | NA | 1.5 | 0 | 0 | Textual Information(18) | |||||||||||
| 19 | Borosil Renewables Limited | Velayudhan Pillai Ramaswami | Non-Executive Non-Independent Director | Any other transaction | Remuneration (including Director Sitting Fees) | 0 | NA | 20.3 | 0 | 0 | Textual Information(19) | |||||||||||
| 20 | Borosil Renewables Limited | Ashok Kumar Jain | Whole time Director & Key Managerial Personnel | Remuneration | 0 | NA | 74.68 | 0 | 0 | Textual Information(20) | ||||||||||||
| 21 | Borosil Renewables Limited | Sunil Kishanlal Roongta | Key Managerial Personnel-Chief Financial Officer | Remuneration | 0 | NA | 57.33 | 0 | 0 | Textual Information(21) | ||||||||||||
| 22 | Borosil Renewables Limited | Sunil Kishanlal Roongta | Key Managerial Personnel-Chief Financial Officer | Any other transaction | Share based payment | 0 | NA | 1.57 | 0 | 0 | Textual Information(22) | |||||||||||
| 23 | Borosil Renewables Limited | Kishor Harish Talreja | Key Managerial Personnel-Company Secretary | Remuneration | 0 | NA | 22.63 | 0 | 0 | Textual Information(23) | ||||||||||||
| 24 | Borosil Renewables Limited | Kishor Harish Talreja | Key Managerial Personnel-Company Secretary | Any other transaction | Share based payment | 0 | NA | 1.13 | 0 | 0 | Textual Information(24) | |||||||||||
| 25 | Borosil Renewables Limited | Raj Kumar Jain | Independent Director | Any other transaction | Director Sitting Fees | 0 | NA | 3 | 0 | 0 | Textual Information(25) | |||||||||||
| 26 | Borosil Renewables Limited | Pradeep Vasudeo Bhide | Independent Director | Any other transaction | Director Sitting Fees | 0 | NA | 3 | 0 | 0 | Textual Information(26) | |||||||||||
| 27 | Borosil Renewables Limited | Syed Asif Ibrahim | Independent Director | Any other transaction | Director Sitting Fees | 0 | NA | 1.5 | 0 | 0 | Textual Information(27) | |||||||||||
| 28 | Borosil Renewables Limited | Shalini Kalsi Kamath | Independent Director | Any other transaction | Director Sitting Fees | 0 | NA | 3 | 0 | 0 | Textual Information(28) | |||||||||||
| 29 | Borosil Renewables Limited | Haigreve Khaitan | Independent Director | Any other transaction | Director Sitting Fees | 0 | NA | 2.5 | 0 | 0 | Textual Information(29) | |||||||||||
| 30 | GMB Glasmanufaktur Brandenburg GmbH | Nico Succolowsky | Managing Director | Remuneration | 0 | NA | 85.3 | 0 | 0 | Textual Information(30) | ||||||||||||
| 31 | GMB Glasmanufaktur Brandenburg GmbH | Torsten Frohner | Chief Financial Officer | Remuneration | 0 | NA | 67.08 | 0 | 0 | Textual Information(31) | ||||||||||||
| 32 | Laxman AG | Euro Treuhand AG | Director | Any other transaction | Professional fees | 0 | NA | 33.32 | 0 | 0 | Textual Information(32) | |||||||||||
| 33 | Interfloat Corporation | Martin Zugg | Managing Director | Remuneration | 0 | NA | 99.38 | 0 | 0 | Textual Information(33) | ||||||||||||
| 34 | Laxman AG | Interfloat Corporation | Subsidiary Company | Inter-corporate deposit | 0 | NA | 0 | 3077.83 | 3157.62 | Inter-corporate deposit | 0.077 | 2 years | Unsecured | General Corporate Purposes | Textual Information(34) | |||||||
| 35 | Laxman AG | Interfloat Corporation | Subsidiary Company | Any other transaction | Functional support Service Income | 1766 | Please refer Notes | 119.71 | 0 | 27.66 | Textual Information(35) | |||||||||||
| 36 | Laxman AG | Interfloat Corporation | Subsidiary Company | Interest received | 0 | NA | 121.79 | 15.14 | 22.23 | Textual Information(36) | ||||||||||||
| 37 | Laxman AG | Interfloat Corporation | Subsidiary Company | Investment | 0 | NA | 0 | 2667.34 | 2736.49 | Investment | 0 | NA | Unsecured | Expansion of business | Textual Information(37) | |||||||
| 38 | Geosphere Glassworks GmbH | GMB Glasmanufaktur Brandenburg GmbH | Subsidiary Company | Investment | 0 | NA | 0 | 6068.6 | 6225.94 | Investment | 0 | NA | Unsecured | Expansion of business | Textual Information(38) | |||||||
| 39 | Geosphere Glassworks GmbH | Laxman AG | Fellow Subsidiary | Inter-corporate deposit | 0 | NA | 0 | 65.95 | 0 | Inter-corporate deposit | 0.07 | 2 years | Unsecured | General Corporate Purposes | Textual Information(39) | |||||||
| 40 | Geosphere Glassworks GmbH | Laxman AG | Fellow Subsidiary | Interest received | 0 | NA | 1.07 | 1.47 | 0 | Textual Information(40) | ||||||||||||
| 41 | GMB Glasmanufaktur Brandenburg GmbH | Interfloat Corporation | Fellow Subsidiary | Sale of goods or services | 383325 | Please refer Notes | 13108.83 | 5209 | 1935.53 | Textual Information(41) | ||||||||||||
| 42 | Interfloat Corporation | GMB Glasmanufaktur Brandenburg GmbH | Fellow Subsidiary | Interest received | 0 | NA | 0 | 74.98 | 0 | Textual Information(42) | ||||||||||||
| 43 | Borosil Renewables Limited | GMB Glasmanufaktur Brandenburg GmbH | Step-Down Subsidiary Company | Any other transaction | Commission for extension of SBLC | 0 | Please refer Notes | 7.94 | -348.77 | 36.54 | Textual Information(43) | |||||||||||
| 44 | Borosil Renewables Limited | GMB Glasmanufaktur Brandenburg GmbH | Step-Down Subsidiary Company | Any other transaction | Reimbursement of Expenses from | 0 | Please refer Notes | 144.58 | 0 | 0 | Textual Information(44) | |||||||||||
| 45 | Borosil Renewables Limited | GMB Glasmanufaktur Brandenburg GmbH | Step-Down Subsidiary Company | Any other transaction | Extension of SBLC | 21652.27 | Please refer Notes | 11099.72 | 10552.55 | 21652.27 | Textual Information(45) | |||||||||||
| 46 | Borosil Renewables Limited | Interfloat Corporation | Step-Down Subsidiary Company | Any other transaction | Reimbursement of Expenses to | 0 | NA | 0 | -4.38 | 0 | Textual Information(46) | |||||||||||
| 47 | Borosil Renewables Limited | Otago Beteiligungs GmbH | Related party of Laxman AG & Interfloat Corporation (Company's subsidiaries) | Any other transaction | Professional Fees | 0 | NA | 0 | -13.19 | 0 | Textual Information(47) | |||||||||||
| Total value of transaction during the reporting period | 32649.42 | |||||||||||||||||||||
Text Block | ||
| 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 recievable/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 from Sr. No. 1 to 5. | |
| Textual Information(2) | 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.
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| Textual Information(3) | Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is combined for both, functional support service expense and income, transactions with Borosil Limited, i.e., combined for transactions at Sr.No 3 and 4. | |
| Textual Information(4) | Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is combined for both, functional support service expense and income, transactions with Borosil Limited, i.e., combined for transactions at Sr.No 3 and 4.
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| Textual Information(5) | ||
| Textual Information(6) | For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount Payable/Liability. | |
| Textual Information(7) | 1) For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount Payable/Liability.
2) 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. | |
| 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) | 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(10) | 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(11) | 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(12) | 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(13) | 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(14) | 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(15) | 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(16) | 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(17) | ||
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| Textual Information(25) | ||
| Textual Information(26) | ||
| Textual Information(27) | ||
| Textual Information(28) | ||
| Textual Information(29) | ||
| Textual Information(30) | ||
| Textual Information(31) | ||
| Textual Information(32) | ||
| Textual Information(33) | ||
| 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.
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| Textual Information(35) | 1) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
2)Amount mentioned in the field viz. value of the related party transaction as approved by the audit committee, is a combined approval for transactions between Borosil Renewables Ltd / Geosphere Glasssoworks GmbH / Laxman AG and GMB Glasmanufakur Brandenburg GmbH / Interfloat Corporation. | |
| Textual Information(36) | 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(37) | 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) | 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(39) | 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(40) | 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(41) | 1) For the field viz. in case monies are due to either party as a result of the transaction, positive balance indicates Amount Receivable/Asset.
2) 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. | |
| Textual Information(42) | 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(43) | 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.
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 and positive balance indicates Amount recievable/asset.
3) Opening 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 balance for transactions, Sr. No. 43 and 44. 4) 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 balance for transactions from Sr. No. 43 and 44. | |
| Textual Information(44) | 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.
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| Textual Information(45) | 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). This extension of SBLC is a non-financial transaction. 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.
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(46) | For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount payable/liability. | |
| Textual Information(47) | For the field viz. in case monies are due to either party as a result of the transaction, negative balance indicates Amount payable/liability. | |