Moser Baer India Limited (MBIL) released its financial results for the fourth quarter & annual results of FY10. The companys Board of Directors, at its meeting in New Delhi, approved the financial results for the quarter ended March 31, 2010.
Net sales for 4th quarter FY10 at Rs5.27bn, up 12% yoy from Rs4.71bn
EBITDA margin for the FY10 registers healthy 26.6 % as against 18.2 % for FY 09
Blu Ray emerging as a main stream optical media in developed countries
Strong cash generation from operations of Rs2.84bn during the quarter
Q4 total Income up by 14.1 % YoY
MBIL registers EBITDA margin at 27.2%, up from 15.8 % for the same quarter FY09
Buoyant PV business clocks shipment revenue of more than 25 MW (above Rs 200 crore) for second consecutive quarter in a row.
Home Entertainment division set to launch over 100 Blu Ray titles
Commenting on the results, Ratul Puri, Executive Director, MBIL, said: This quarter has been exciting as the markets are opening up and we are confident that we will carry this positive momentum to the financial year 2011. We will continue to offer quality storage products and advanced media formats at competitive prices and will grow this business further. He added: With our higher efficiency Thin Film modules and EPC capabilities combined with our focus on India, I am certain that we will capture a significant share in the home market. We remain committed to the PV business in the long term and see strong buoyancy returning back into the market. With National Solar Mission (NSM), the domestic PV market has opened up rapidly which will result in India emerging as a global solar hub.
Yogesh Mathur, Group Chief Financial Officer, said: The past quarter performance was along the expected lines. Our Operating cash remains strong enabling the implantation of our growth plans. Capex remains judicious and that is likely to remain the trend going forward. We see the demand picking up for advanced storage media formats, especially in Blu Ray discs in the coming quarters.
He further said: In PV, for the second consecutive quarter we have been able to achieve strong shipment and corresponding revenue. We are now actively implementing our expansion plans of the Crystalline Silicon facility. This will help Moser Baer to contribute significantly to solar shining movement in India.
Rajiv Arya, CEO, Solar Business, Moser Baer India, said: With a slew of solar projects under implementation at the centre and the states, the NSM targets that were perceived to be ambitious are now in the doable range. The Thin Film technology is best suited in ramping up grid connected solar farms in high ambient temperature regions like India. We see Thin Film technology playing a very significant role in Indias solar journey.
Blank Optical Medias EBITDA margin firm at ~30%
Shipment volumes growth of 3.5% sequentially
Higher value DVD, advanced media formats and Blu Ray continue to grow significant positive in long term
Revenue contribution from advanced formats continues to increase. Significant higher EBITDA margins
Robust volume growth in emerging markets incl. India
Conversion of fuel source for DG sets to help in margin improvement
Blu-Ray shipments continue to improve, emerging as a key growth driver for the optical media business and poised to make significant contribution to the business
MBPV, amongst a handful of global manufacturers who were awarded the prestigious 5 Star quality rating for Best in Class Quality & Processes by TV Rheinland
Flourishing India PV market MBPV set to emerge as a major player in the Solar Energy Sector
Manufactured worlds highest efficiency single junction Thin Film panel of 7.3% efficiency with 400 W output
Strong shipment Traction: Achieved over 50 MW of PV Shipments during the last two quarters of FY 10
EPC Unit (PV Systems) has successfully installed and commissioned first of its kind 1 MW Thin Film solar farm for Mahagenco in Chandrapur at Maharashtra other large projects are in pipeline
MBPV forayed in to the Australian market with its PV products.
Global PV demand on recovery path as credit availability eases out for the industry
Coverage in 25+ countries now with sales to emerging markets like Denmark, Netherland, UK, Sweden & Ireland
Continuous EBIDTA positive
Increasing focus on regional content; released close to 30 titles
To launch over 100 Blue Ray titles expected to improve realizations
Strong retail roll-out continues during the quarter
India Infoline Research Team / 08:59, Sep 02, 2014
The indices are expect to open on a positive note. Some profit booking could always set in later in the day.