MUMBAI: Moser Baer
The company’s total income has increased 3.8 per cent from Rs 5150.25 million for the quarter ended 31 December, 2006 to Rs 5348.58 million for the quarter ended 31 December, 2007.
The companyâ€™s margins were adversely affected in the wake of the pricing pressures in the global optical media industry.
EBITDA for the quarter stood at Rs 1189.8 million compared to Rs 1633.8 million in Q3 of FY â€™07. EBITDA margin stood at 22.2 per cent in Q3 of FY â€™08, compared to 31.7 per cent in the corresponding period in FY â€™07.
Cash profit stood at Rs 874.5 million for Q3 of FY â€™08 and at Rs 3092.0 million for the YTD.
â€œIn the last quarter and the year so far, Moser Baer has pursued an aggressive strategy in order to grow volumes, consolidate the market and improve industryâ€™s operating landscape in the long term. Also, as our new businesses achieve size and scale, they are expected to add significantly to consolidated revenues,â€ he added.
Home Entertainment Business- Update & Outlook
The Home Entertainment business achieved breakeven in less than 12 months of operation. The division is on track to achieve revenues of $ 45-50 million for FY â€™08. Increasing emphasis on new title releases should help give further impetus to the growth of the business. The recent example being launch of Jab We Met, which received overwhelming response from consumers.
Even as a pan-India distribution ramp up continues, the company’s aim is to acquire a significant number of new titles going forward. Selective projects on content development are moving towards revenue generation in the forthcoming quarters.
PV Business- Update & Outlook
In less than two quarters of operation, Moser Baer met its objectives of setting up a fully automated, highly efficient crystalline silicon line with 40MW of capacity. This initial line has undergone extensive trials and achieved stable yields of over 95 per cent; achieving global benchmarks in cell efficiencies. Capacity will be expanded to 80 MW as planned by the end of next quarter. The production of Solar Modules has also commenced and the production capacity is being expanded to 60 MW. Proprietary cell packaging has also been introduced. The Thin Film facility is nearing completion with pilot production expected by Q1 of FYâ€™09.
The business has tied up significant customer orders and MoUs. The Indian opportunity remains a significant growth driver. Additionally, the announced feed-in tariff subsidy of Rs 12/unit by Government of India to solar power plants will further incentivise the growth of solar installations in the country. Starting from a proposed 5 MW grid connected solar farm in Rajasthan. MBPV aims to garner a significant share of the initial 50 MW capacity eligible for subsidy at present.
The Capital subsidy announced under the Semi Conductor Policy provides an opportunity to increase Project ROE by 100 per cent.