Borosil Scientific Ltd Share Price – NSE  /  BSE

Glass & Glass Products, Small Cap

Borosil Scientific has granted 5,21,139 stock options under 'Borosil Scientific Limited - Special Purpose Employee Stock Option Plan 2023' ('SP-ESOP 2023') to the eligible employees.

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Net profit of Borosil Scientific rose 4.50% to Rs 12.07 crore in the quarter ended March 2024 as against Rs 11.55 crore during the previous quarter ended March 2023. Sales rose 13.07% to Rs 102.66 crore in the quarter ended March 2024 as against Rs 90.79 crore during the previous quarter ended March 2023.

For the full year,net profit rose 3.25% to Rs 31.46 crore in the year ended March 2024 as against Rs 30.47 crore during the previous year ended March 2023. Sales rose 9.00% to Rs 355.15 crore in the year ended March 2024 as against Rs 325.82 crore during the previous year ended March 2023.

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Borosil Scientific made its stock market debut today, opening at Rs 169.70. The stock reached a high of Rs 178.18 and a low of Rs 161.22 so far.

On 2 December 2023, Borosil announced the scheme of arrangement amongst Borosil and Klass Pack and Borosil Technologies.

Pursuant to the scheme, the company’s Scientific and Industrial Products Business demerged into Klass Pack, Borosil Technologies amalgamated into Klass Pack and ceased as a subsidiary of the company further, Klass Pack as well as Goel Scientific Glass Works also ceased as subsidiaries of the company.

Furthermore, the company renamed klass Pack as Borosil Scientific.

As per demerger ratio, the eligible shareholders of Borosil received 3 equity shares of Rs 1 each of Klass Pack for every 4 equity shares of Rs 1 each of Borosil.

The demerger allows the shareholders to own shares in both businesses, providing them with opportunities to benefit from each company’s operations and growth prospects.

This restructuring has led to the formation of Borosil Scientific, which now encompasses a comprehensive portfolio including laboratory instrumentation, pharmaceutical primary packaging, process systems, along with laboratory glassware and consumables. The demerger aims to sharpen the focus on the scientific division, allowing for enhanced operational efficiency and targeted growth in the global market.

Vinayak Patankar, Whole-time Director and Chief Executive Officer of Borosil Scientific, said, “This restructuring will enable us to attract business-specific investors and strategic partners, providing greater flexibility in accessing capital and fostering focused strategies for sustained growth. We are actively expanding our presence in the pharmaceutical industry, and our brand value has received widespread recognition across the country and globally.”

Borosil Scientific now comprises of four business divisions – Laboratory Glassware & Consumables, a comprehensive range of laboratory instruments under the brand ‘Labquest’, primary packaging glass vials and ampoules for the pharmaceutical industry and Glass Process System for laboratory as well as industrial applications.

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The equity shares of Borosil Scientific (Scrip Code: 544184) are listed effective 07 June 2024 and admitted to dealings on the Exchange in the list of ''T'' Group Securities.

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