Total expenditure in the fourth quarter rose to Rs 219.48 crore (up 18.7% YoY), primarily due to higher other expenses (up 31.2% YoY), higher raw material costs (up 8.7% YoY) and higher employee expenses (up 16.6% YoY).

Profit before tax in Q4 FY23 stood at Rs 28.62 crore, down by 8.1% from Rs 31.13 crore in Q4 FY22.

Current tax outgo during the period under review was Rs 5.99 crore (up 6.6% YoY).

Deferred tax expenditure for Q4 FY23 was Rs 0.33 crore. The firm had written back deferred taxes aggregating to Rs 9.07 crore in Q4 FY22.

Borosil recorded 7.3% rise in consolidated net profit to Rs 89.85 crore on a 22.3% increase in net sales to Rs 1,027.12 crore in FY23 as compared with FY22.

Borosil is a supplier of laboratory glassware, microwaveable kitchenware and opal ware in India. It sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets, and has three manufacturing facilities at Bharuch (Gujarat), Tarapur (Maharashtra) and Jaipur (Rajasthan). BL conducts its operations in two business segments—namely, scientific and industrial products (SIP; including laboratory glassware, laboratory instruments and pharma packaging) and consumer products (CP; including microwaveable, kitchenware as well as opal ware products).