Borosil Renewables shares gain 3% after German subsidiary files for bankruptcy

Shares of Borosil Renewables Ltd. will be in focus on Monday, July 7, after its German subsidiary GMB (GMB Glasmanufaktur Brandenburg GmbH) filed for bankruptcy at a German insolvency court.The subsidiary’s furnace were cooled down in January this year owing to poor demand and depleted market conditions across the European Union.

Chinese dumping at lower prices led to a demand slump for German solar panels, the subsidiary had said earlier.

GMB also said that it had approached concerned authorities to get some quick measures in place, but no measures have been forthcoming.
So how does this move impact Borosil Renewables?The company’s exposure to the German unit and its step-down subsidiary is close to ₹350 crore and a cash loss of close to ₹9 crore per month will cease to exist.

GMB’s expenses and cash flows will be managed by an administrator.

For financial year 2025, GMB’s topline stood at ₹327 crore, which amounted to nearly 22% of the overall revenue. The company remained loss making.

Shares of Borosil Renewables ended 0.9% lower on Friday at ₹495.55. The stock is down 10% so far this year and trades well below its 52-week high of ₹643.9.