Borosil first-quarter numbers were very strong on a low base. There was a sequential decline because of the second wave of COVID. The revenues for the company come from two verticals, the pharmaceutical business, as well as the consumer business.

Throwing more light on their revenues and outlook, Shreevar Kheruka, MD& CEO of the company, told CNBC-TV18 that their scientific products vertical has sales in vials for COVID vaccines as well as therapeutics, and in that area, they had some orders for the therapeutics like Remdesivir. The company saw a spike in April and May for those particular businesses and going forward as well they expect the orders to be sustainable and maybe even increase in revenues. So, there was some improvement in the first quarter due to COVID, said Kheruka.

When asked to quantify the revenue number, he said, “Of our scientific products business, we have a sub-vertical called Klasspack and this is the area where we make these ampoules and vials, and that business had a very strong growth - north of 50 percent in the first quarter and about 20 percent of that growth came from the therapeutics.”

Talking about the COVID impact on their consumer business, he said, “After the end of the first wave of COVID that was in Feb-March and even the early part of April, there was a very substantial increase in demand across the entire consumer product range, in spite of schools and colleges, and offices not being so widely open but the second way impacted that, which resulted in a lower performance in the month of April and May.

“However, since the second half of June and post that there has been a very substantial increase in demand. And we're quite bullish on the coming nine months, assuming there is no third wave or any further lockdowns.”

For the full interview, watch the video

(Edited by : Bivekananda Biswas)

First Published:Aug 17, 2021 6:43 PM IST