Borosil Renewables developing solar glass for perovskites, says vice chairman

Borosil Renewables is currently developing a solar glass solution tailored for perovskite technology, the company’s Vice Chairman Shreevar Kheruka said.

Kheruka described perovskite as a "very interesting new technology" and noted that the initial results from the development process are "quite promising."

Technical potential

Perovskite solar cells are expected to lower the cost of energy production while reducing the weight of the resulting modules. The technology potentially eliminates several components found in conventional solar modules.

Market positioning

Borosil Renewables has stated it has no plans to enter the low-iron float glass segment for thin-film solar. The company describes thin-film solar as a niche market when compared to crystalline silicon modules, which possess a three-decade track record. Instead, Borosil focuses on its established presence in the solar glass sector, claiming the number one market position in India. The company prefers to compete with other Indian manufacturers rather than rely on Chinese imports for this product category.

Capacity expansion

Borosil Renewables is commissioning two new furnaces this financial year, with a combined capacity of 600 TPD. The company expects to complete the installation within three to four months. This expansion will raise total manufacturing capacity to 1,600 TPD.

Background

On 30 October, Luminity disclosed that Borosil Renewables' Q2 FY2027 financials indicated:

• Operational revenue reached Rs. 396.70 crore, marking a 4.70% increase compared to Rs. 378.88 crore in Q2 FY2026.
• Profits climbed 11.69% on a year-on-year basis to Rs. 68.78 crore, up from Rs. 61.58 crore during the corresponding period of the previous year.
• Solar glass manufacturing capacity stands at roughly 1,000 TPD, with 600 TPD currently undergoing expansion and an additional 1,600 TPD in the planning phase.

Refer to the previous earnings update for specifics regarding the supply deficit highlighted by the firm.

Corporate history and industry outlook

Borosil Renewables traces its origins to 1962, a period during which the firm developed a research and development ecosystem that Vice Chairman Shreevar Kheruka credits for maintaining its lead in product innovation. Kheruka emphasized that glass manufacturing requires specialized technical expertise across substrates, coatings, printing, and continuous development, rather than merely establishing production facilities.

Regarding the broader market, Borosil Renewables projects that India’s domestic solar glass production capacity will reach 7,900 TPD by March 2027. The company anticipates a shortfall against projected demand of 10,400 TPD for that same period. In the context of emerging technologies, four-terminal perovskite designs involve depositing perovskite onto glass, whereas two-terminal configurations place the material directly onto silicon cells. China proposed export bans on perovskite and tandem solar manufacturing technology, with a public consultation period that ended on November 15, 2026. These proposed restrictions target perovskite-silicon tandem cells using 182 mm wafers with 30% efficiency, as well as perovskite modules achieving 18% or 28% efficiency.