Moneycontrol
Oct 13, 2017 03:44 PM IST | Source: Moneycontrol.com

Gujarat Borosil hits record high, up 14% on strong management outlook

Pradeep Kheruka, Vice Chairman, Gujarat Borosil expects to sell glass on a decent premium than normal glass and expects revenue around Rs 200 crore in FY18.

Moneycontrol News

Gujarat Borosil share price has touched a 52-week high of Rs 129.95, 14.5 percent intraday Friday, following the strong outlook by management.

"We are actively considering doubling our capacity," Pradeep Kheruka, Vice Chairman, Gujarat Borosil said in an interview to CNBC-TV18.

He expects to sell glass on a decent premium than normal glass and expects revenue around Rs 200 crore in FY18.

Gujarat Borosil had reported total revenue at Rs 184 crore in FY17, up 0.6 percent compared with Rs 182.9 crore in previous financial year. Profit during the year was at Rs 14.1 crore, increased from Rs 7.4 crore in previous year.

Kheruka said all options are open for funding the capital expansion.

Borosil Group owns two companies Borosil Glass Works and Gujarat Borosil. Gujarat Borosil makes solar glass and pattern glass while Borosil Glass Works is engaged in the business of specialty glass & specialty laboratory products.

At 12:15 hours IST, the stock price was quoting at Rs 129.00, up Rs 15.50, or 13.66 percent on the BSE.

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