Borosil Exits German Solar Glass Market to Focus on India

Company Shifts Focus to India’s Growing Solar Glass Market

Borosil Renewables has made a big decision. They are leaving the German solar glass market. Their subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency. Now, Borosil will focus on India’s fast-growing solar glass market.

Why Did GMB File for Insolvency?

Borosil announced that GMB has started insolvency proceedings. This happened after a careful review of the market and their priorities. The company faced big losses due to a sharp drop in demand.

Challenges in the German Market

The problems for GMB started with a decline in demand for German-made solar panels. Chinese manufacturers lowered prices a lot. They engaged in large-scale dumping in the European market. This made it hard for others to compete.

Borosil said that despite warnings from German solar panel makers, authorities did not take strong protective actions. This lack of action forced many German manufacturers to shut down or enter insolvency. As a result, the demand for locally made solar glass by GMB collapsed.

Financial Impact on Borosil

GMB was once a key part of Borosil’s global operations. But it reported big losses. This hurt Borosil’s overall finances. Borosil’s total exposure to its German operations was €35.3 million, or around Rs 340 crore, as of March 31, 2025.

Starting July 4, 2025, Borosil will no longer account for GMB’s monthly losses. This move allows Borosil to stop the financial drain from a declining market. Now, they can redirect resources to their home base in India.

Why Focus on India?

India offers a promising growth story. The country is seeing:

• Aggresive solar capacity additions
• Strong infrastructure demand
• Supportive policies

These include production-linked incentives (PLI) and the Approved List of Models and Manufacturers (ALMM).

India’s solar module manufacturing capacity has already surpassed 90 gigawatts. It is expected to reach 150 gigawatts by March 2027. This growth creates big opportunities for domestic solar glass makers.

Borosil’s Strategic Investments

Borosil plans to focus on:

• Solar glass innovation
• Manufacturing scale
• Clean energy strategies aligned with ESG principles

In May, the company announced a Rs 950 crore investment. This will expand its capacity by 600 tonnes per day. The expansion involves setting up two new furnaces. Each furnace will have a 300 TPD capacity. This increases the current base by 60%.

Policy Support for Indian Producers

The recent imposition of a five-year anti-dumping duty on solar glass imports from China and Vietnam has helped Indian producers. This policy, effective December 4, 2024, has already improved price realizations.

Average ex-factory selling prices for solar glass in Q4 FY25 rose to Rs 127.6 per millimeter per square meter from Rs 99.6 a year ago. That’s a 28% increase.

Future Outlook for Borosil

With its strategic pivot complete, Borosil is well-positioned to lead in India’s solar glass industry. The company benefits from favorable policies and growing market demand.