Borosil executive discusses proposed anti-dumping duty on Chinese glass dinnerware/lunchbox imports and its potential to boost volumes and revenue

Mon 28 Sep 2026

Heard on Live television at 11:06:20 IST.

[11:06:20] is from unfair or you know the the imports coming from China which were dump prices about a year. And the main reason was massive subsidization of our competitors in China both on the Opex and capex as well as export subsidies that they received. The result of which was they were selling products at prices below cost of production and this was resulting in, you know, challenges for us for that product category. Frankly speaking, we're talking about, you know, a lunch box, you know, dinnerware. This is stuff that India really needs to manufacture and should manufacture. There is absolutely no reason to be importing such basic products from China. We have the technology, we have the availability of all the raw materials that are needed to make this product. And therefore, I think, you know, it's incumbent on India and the, you know, Indian manufacturers to make this. I think from a, to answer your question on demand and pricing and so on, what we are going to focus on is actually just to increase the volume sales. We don't want to increase pricing at the moment, because we believe that glass is a much better alternative as a dinner set or for serving wear compared to plastic, and therefore it's healthier, it's 100% recyclable, and therefore we should encourage customers, consumers to use this product and replace the plastic in their kitchens. And therefore, we want to give, we don't want to increase pricing, we just want to make sure that the competition fair competition. There will be other India also, who will probably make this product which is good, but end of customers benefit from buying Indian made product and, you know, the company also should, you know, more of it. Then, just certification on the fact that percentage of your portfolio stand to benefit from this, you talked about, you know, uptake. Anything to put a probably, you know, internally put together as to how this can additionally add into the volume growth that you're picturing for FY 27? Yeah, well, as far as the percentage portfolio, this is about one fourth of our total portfolio revenues. So that's about 25% should, you know, we should see a higher volume growth in that 25%. Uh, I think we are today having, you know, large inventories because of this dumped competition and, you know, we should be able to start reducing those inventories and, uh, overall, we would need at least a 30-40% growth in order to compensate for the higher production that we have and the lower sales we have from this in this category. So, I think if we can achieve 30-40% higher volumes, area that [11:09:20] would justify the you know the production setup that we've made. So you are like you know good morning. It's Puneet this side. Just a question on the implementation. As you mentioned, this is a proposal yet to be you know confirmed and and put through. But do you feel there's a challenge in implementation of once this get approved? Because you have so many you know individual retailers, you know, that that have you know these you know different boxes, dinner sets that they sell individually. Do you feel that could be a difficult one and hence you'll have to iron out those issues. But, of course, with the thought process that we have to start somewhere and this would be a much needed move to, you know, localize and make in India. implementation be a challenge that we'll have to watch out for as the industry progresses? Yeah, for sure, look, nothing is forgiven and in the sense that there have been cases where you know Ministry of Finance has rejected recommendations made by Ministry of Commerce. So there's no there's no guarantees in life. I think end of the day the government should take a view basic products where technology and raw materials are fully available in India. Whether we still want to be trade a country or we want to be manufacturing country and I think that's the key point which we need to kind of debate. The the general you know people say that, oh you know, Indian manufacturing is not competitive that's absolutely incorrect, untrue and has no basis. The you know the cost to melt glass in India is the same as in China cost is lower in India compared to China. We use the best technologies across the world to manufacture the products. Now with the availability of solar power the cost of energy to melt glass is also become very very competitive. Our efficiencies world leading, you know, our skill sets are world leading. So it's not even true in India is cheaper than manufacturing in sorry manufacturing cheaper than manufacturing in India. Then the question begs itself how do Chinese give 25 to 30% even higher lower pricing then then then the Indian production. And is very simple. It's pure and simple subsidies both for CAPEX and OPEX. So end of day as far as implementation is concerned, we can only request the government. The government has taken very strong view on manufacturing in India in general and we do believe that this is a justified view. deployment to millions of you know young Indians coming out of schools, colleges both from vocational training institutes as well as from with degrees and manufacturing is really the only sector that can absorb such large volumes of people. So it's it's a question that we will push our perspective to the government and we do hope that the government will accept it, but there are no guarantees. [11:12:20] Mr. Ke, you know, there's 30 to 40% of volumes, additional volumes that could be possible, an uptick in the volume that could be, uh, you know, on the cards. Do you think this is, uh, something that you'll be to do with the capacity that you have right now? Or would you be looking at, uh, further, uh, infusion of FX to expand your capacity? Yeah, so, with the current capacity, we'll certainly do that. Like I said, we we have a lot of inventory already. Uh, we've also announced for, assuming that this goes through, we have announced further CAPEX in this, uh, in this area. We've not yet spent any money on it, but assuming it goes through, we're ready to do more CAPEX and make the even cheap and in fact that will make the product even cheaper for the end customer. Uh, so, uh, subject to the, you know, the implementation of this duty, we are ready to invest and increase the capacity by another further 50% in the future and pass that benefit on to the end customer. be funded by internal accruals, I believe. That's right. Okay, and just one last one, because you said, you know, that that volume optic would be quite significant for you. Uh, in terms of top line translation, is there any any number in mind that could possibly add to your top line? </i> So, last year, I'm just giving you rough numbers, our revenues were about 1200 crores in in in glassware, I mean, sorry, in consumer products and about say okay from this product category. Uh, so, if you can assume a 30 40% top line increase, then that could add about 100 odd crores to the revenue of the organization. </i> Okay, all right, Mr. Ke, thank you so much for taking out the time and putting that into perspective for us. And hopefully, uh, this gets implemented in your favor. </i> Look forward to that conversation once, you know, that happens. But thank you so much for taking out the time. </i> All right, that was Borsell, uh, definitely in focus and definitely, uh, if this gets implemented, stands to benefit up 5% as we speak at the day's high point, despite of the way markets are moving. So, uh, that's regards to your Borsell goes, but let's uh, get back to all your stock-rated queries. Uh, is coming in from Bhaskar Rao, writing us from Qatar, is asking about Steamhouse and uh, he says that he's seen the end of this talk on NDTV profit and wants to know, uh, whether he can continue to hold this one year or so. Uh, we'll talk with the recently listed counter, but what do you make of the company if at all you've had the chance to study this one? </i> I give you on this name, know. </i> I'm I'm sure that this will not have update on the charts as well. So, uh, you know, it's better Bhaskar that you come and ask us this query again probably tomorrow or so. </i> The next one is coming in from Indiamart InterMesh. Uh, this is from Aniket who's writing in and he wants to know whether he can continue to hold this one says it's been falling since. I think his buying price is 2090. Let's try to pull up the stock, whether that's the quantity or the buying price and see as to where it's at right now. It's 1622. So, he's bought it at the levels of 2090. Ajeet, uh, seeing the charts, what do you recommend? [11:15:20] Uh so basically uh there is no sign of uh river uh or any kind of like you know in fact a decisive attempt of a rebound also stock is at 52 week low. Uh earlier like uh you know we had this uh zone close to around 1840, 1850 where the stock uh witnessed a kind of a breather earlier. But uh this time around uh uh that level turned out to be the strong resistance area once uh we saw the for rebound. So in all parameters it looks big to us and uh maybe uh because we don't have any support as such uh uh on the uh charts as yet. So probably around 1500 or maybe lower is something the stock might test. So in all parameters it's prudent that you should uh consider exiting at current levels or uh avoid any uh like you know at least if you're not exiting at present. Got it. And then you know with regards to Si, we have the maximum today on India market open and uh a few few key aspects that we asked them because we have continued uh coal trading business which was 25% of the revenue last year. So those are some of the that they had and we ask them these questions. You can catch the full conversation once it goes up on YouTube or you can, you know, go back on the live stream now as well. But uh the next question is on Aether energy. It's a counter that's done well has seen some selling from the top. Saju holding these shares at 1,285 and actually he's holding a maximum of 5,500. So sitting on gains of almost 10 lakh rupees. Uh, how are you looking at this counter now because we've seen just that breakout below, actually that breakdown below that 1500 level mark. Is this now going to be in the in a consolidation kind of a range and what would your advice be for Saju? Saprit, uh the way the stock had advanced in past means from roughly around 525 to 17 uh 1725, it was a marginal like, you know, breather of consolidation. This uh as you have rightly pointed out, that stock has slipped below its 20 MA mark and we are gradually shifted over. So this definitely indicates a possibility of uh consolidation or profit taking to continue towards the 13 will be lower. Since he is sitting on a decent profit, market scenario is also not pointing towards any sharp recovery or reversal yet, uh, it's prudent that at least you should uh book partial profits, 70-80% current levels and wait for any kind of base formation to re-enter or uh continue. Okay, all right. That's that's the view on Aether Energy. The next one is uh, you know, comparatively a small not a company that we talk about, uh, you know, generally on ask profit or we don't get a lot of queries on this one, but it's not automotive components. This is uh, query coming in from Kartik who's writing us from Bengaluru. He's on 4,000 odd shares, levels of 453 and he wants a short-term view on this one. Ajeet, uh he's already sitting on a loss of over Rs 85,000. What should he do? Uh, so now

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