• Net sales of INR 309.9 crores during the quarter
  • Overall ASPs softened slightly due to change in product mix
  • Key input costs continued to remain stable during the quarter
  • Exceptional unrealized loss of INR 19.3 crores pertains to short term

exchange impact on account of long term foreign currency liabilities

  • The company’s systems business retained its position as the leading solar
  • EPC player

Moser Baer India Limited (MBIL) today released its financial results for the third

quarter of FY’13. The company’s Board of Directors, at its meeting in New Delhi,

approved the financial results for the quarter ended December 31, 2012.

 

Commenting on the quarter’s performance, Bhaskar Sharma, CEO, Storage Media,

MBIL, said, “We continue to realign our businesses to changing market dynamics

with a focus on advanced formats and solid state media products. We are

confident about the future prospects as improved liquidity post financial

restructuring would enable us to consolidate our position and increase our market

shares and volumes. On the other hand, stable raw material prices would allow us

to protect our margins.”

 

K.N Subramaniam, CEO, Moser Baer PV Systems said, “Solar PV business is likely to show rapid signs of growth in the next three years due to announcements by

JNNSM and the state government projects totaling to over 8000 MW. All these

augurs well for the systems business which is shaping itself to deliver projects both

in solar farms and rooftop installations at record times. Our recent track record of

executing projects of 20MW+ size within 8 weeks demonstrates our robust business

delivery capabilities. With systems costs falling sharply due to modules and

improved engineering with focus on cost reduction, solarising India in the next few

years is becoming a certainty.”

 

Commenting on the results, Yogesh Mathur, Group Chief Financial Officer, MBIL,

said, “We are happy to note that the definitive documents are being executed

with Banks, thus crystallizing our debt restructuring package and we are

proceeding towards implementation. This is expected to provide the necessary

liquidity to support our business priorities. He further added, “All efforts are being

made to conclude the company’s financial restructuring and repositioning the

businesses to leverage future opportunities.”

 

Storage Media

 

  • As per industry sources, key global optical media players are likely to

witness a turnaround with strong price increases expected in 2013

  • Blu-ray discs continued to gain momentum in 2012 (Digital Entertainment

Group – Jan 2013); offerings of leading global optical media manufacturers

are increasingly finding traction in the market

Moser Baer storage media business reflects healthy order pipeline for Q4

  • FY’13

Company’s shipments and revenue expected to improve post completion of

the debt restructuring programme resulting in enhanced liquidity

  • Prices of key raw materials expected to remain stable in the near term

 

 

Solar photovoltaic

  • Global PV installations reached 32 GW in 2012, up from 28 GW in 2011 (IHS

iSuppli); growth supported by strong demand in Germany, China, USA,

Japan and India

  • Global PV industry revenue that reached USD 77 billion in 2012 is forecast

to increase to USD 115 billion in 2016 (IHS iSuppli)

  • Increasing competitiveness of solar power along with its green attributes

and installation ease promises strong potential in the long term

  • In India, over 266 MW of Solar PV projects commissioned under Phase I

Batch I of JNNSM by end of Dec 2012 (MNRE); another 340 MW of Phase I

Batch II projects targeted by March 2013

  • The Indian Government has released the ‘Draft guidelines for JNNSM Phase

II” in December 2012; several state governments has also announced

policies/intent for rapid development of solar power in their respective

states; announcements by states to develop over 8,000 MW of capacity were

made by end of 2012

  • The Indian Solar REC market continued to develop strongly with prices for

solar RECs holding firm as demand outstripped supply till end of 2012

  • In November 2012, Ministry of Commerce (Government of India) initiated

Anti-Dumping Investigation concerning imports of solar cells and modules

into India from China, Taiwan, USA and Malaysia

  • Ramp up of Moser Baer’s moduling operations targeted post disbursement of

funds by banks; recent uptick in prices across value chain promising for the

company’s PV business

 

About Moser Baer India Ltd.

Moser Baer India Limited headquartered in New Delhi, is a leading global tech manufacturing company. Established in 1983, the company has successfully

developed cutting edge technologies to become one of the world’s largest

manufacturers of Optical Storage media like CDs and DVDs. The company also

emerged as the first to market the next-generation of storage formats like Blu-Ray

discs in India. Over the years the company has entered into exciting areas of

content replication, home entertainment and is a market leader in the high

growth photovoltaic space. It is the only company worldwide to receive the

prestigious 5-star rating from TÜV Rheinland for 3 years in a row maintaining

highest standards of quality in manufacturing PV modules. Moser Baer India has

emerged as one of the most credible brands focused on hi-tech manufacturing and

R & D activities. It is continuing to unfold the next generation innovative

technologies that will catapult India into a respectable manufacturing hub.

Website: www.moserbaer.com

 

For further information please contact:

Abhinav Kanchan, Group Head, Corporate Communications

abhinav.kanchan@moserbaer.in

Tel: 011-40594175 /Mobile: +91-9958867269

Sona Endow, Deputy Manager, Corporate Communications

sona.endow@moserbaer.in

Tel: 011-40594117/ Mobile: +91-9891944882