Shares of Borosil Renewables rose 6% in early deals on Monday after the firm’s German subsidiary GMB (GMB Glasmanufaktur Brandenburg GmbH) filed for bankruptcy at a German insolvency court.
The multibagger stock climbed 5.97%today to Rs 526.50 against the previous close of Rs 496.80 on BSE. Borosil Renewables stock is trading lower than 10 day, 20-day, 50-day, 100 day, 150 day but higher than the 5 day and 200 day moving averages.
The multibagger stock has gained 409% returns in five years and risen 3954% in 10 years. The stock opened higher at Rs 501.05 on BSE. Market cap of the firm rose to Rs 6868.40 crore.
The share has lost 7 per cent in 2025 but gained 12% in three months. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 2.65 crore.
The subsidiary’s furnace were cooled down in January this year owing to poor demand and depleted market conditions across the European Union.
Dumping by China at lower prices led to a demand fall for German solar panels, the subsidiary had said earlier.
GMB added that it had called for concerned authorities to for some relief, but no measures were taken.
Borosil Renewables’ exposure to the German unit and its step-down subsidiary was around Rs 350 crore. With this closure, a cash loss of close to Rs 9 crore per month will stop.
GMB’s expenses and cash flows will be managed by an administrator.
For financial year 2025, GMB’s revenue stood at Rs 327 crore, which amounted to nearly 22% of the overall revenue. The company was a loss making one .
Borosil Renewables is engaged in manufacturing of Low Iron textured Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses.