In India, Borosil leads the market for laboratory glassware and microwaveable cookware. It was founded in 1962 with the help of Corning Glass Works USA. Corning sold its stake in the company to the current Indian promoters in 1988.
About Borosil India Brand
The company was founded on December 14 in Mumbai with the primary goal of acquiring industrial and engineering projects.
The Mumbai High Court order dated July 30, 1963, merged the company’s business with that of Apparatus Co. Pvt., This brand’s major goals are to make borosilicate tyre neutral and heat resistant tubings and rods, as well as scientific gear and laboratory glassware.
Borosil entered the Indian market one year before the merger, in 1962, as part of a joint venture with Corning Glass Works in the United States, where we offered products under the Borosil name. The name for their core goods was inspired by borosilicate glass. Their family purchased Corning’s shares in 1988. That was the beginning of our adventure.
Borosil began as a manufacturer of scientific products, and the transformation to a lifestyle brand was the next logical step for them.
Know the current MD & CEO of Borosil – Shreevar Kheruka
Shreevar Kheruka had only recently joined his family’s firm when a financial crisis hit it. The Maharashtra government increased electricity tariffs from Rs 4.20 per unit to Rs 7.50 per unit almost overnight (in 2019/20).
Shreevar was resolved to tackle the situation after studying finance and business at the Wharton School of Business. He boarded a plane and travelled to glass companies in the United States, Europe, Southeast Asia, and China to investigate the possibility of importing raw materials. He discovered potential vendors from outside markets to offer raw materials that Borosil sourced locally after visiting over 100 firms. The corporation was able to lower its manufacturing costs to some extent by importing raw materials.
Borosil Transformation and Business Model
Borosil was able to emerge from the crisis because of its low-cost manufacturing business model at the new location. For Shreevar and the Kheruka family, navigating the company through the situation was a significant turning point.
In 2013, they expanded their portfolio and transitioned from a laboratory glassware company to a complete lifestyle brand for kitchen-to-table products, thanks to their new business model. The company went on to manufacture kitchen appliances, storage containers, hydration bottles, and tableware as a result of this.
This diversification is what helped Borosil become the household name it is today, with a revenue of Rs 635 crore in 2018-19.
The goal of transforming into a lifestyle brand was to assist Indians in being more productive in the kitchen by providing useful, aesthetically pleasing items of the greatest quality and functioning intelligently. Brand’s sole motive was also to raise awareness about the advantages of using glassware that is both safe and hygienic, as well as elegant and timeless at the same time. A ‘pro-glass’ approach to food and beverage goods, in particular, has helped Borosil go a long way toward improving individual health while also sustainably reducing pollution.
A Six-decade Business Legacy!
The SIP and GBL divisions of Borosil are the results of the Kheruka family’s early ventures into industrial manufacture. Borosil was founded in 1962 with the goal of acquiring the Industrial and Engineering Apparatus Company’s business.
The company began selling products under the Borosil name after forming a partnership with Corning Glass Works in the United States. The company’s major product category, borosilicate glass, inspired the name.
Before the covid outbreak, in Jaipur, Bharuch, Tarapur, Nashik, and Pune, the Borosil group operates seven manufacturing sites. Over 4,000 people work in these units, which the firm owns. Aside from this, the corporation purchases goods from both domestic and foreign suppliers.
Types of Borosil Products
Need not to mention that Borosil is not just a glassware brand, but it also serves in these five categories–
- Scientific & Industrial products
- Consumer products
- Solar Water Heater products
- Low Iron Solar Glass products
- Lighting products
In an interview, the current CEO of Borosil, Shreevar Kheruka, spoke about the competition. He said, “the only way to keep ahead of the competition, according to Shreevar, is to innovate and offer better items constantly. He also believes that Borosil has a natural edge because of the increased awareness of health and safety resulting from COVID-19.”