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Moser Baer – Board recommends Issue of 1:1 bonus shares
September 20, 2003
 

Moser Baer India Limited (MBIL), one of the world’s largest manufacturers of Optical Data Storage products, today announced that its Board of Directors, at its meeting held on September 20, 2003, adopted the audited accounts of the company for FY03.

Key highlights of Audited Accounts:
The key highlights of the audited numbers for FY03 are

  • Revenues crossed the INR 10 billion mark for the first time, at INR 11.14 billion in FY03, reflecting a growth of 60.7% over the previous year.
  • EBITDA, at INR 4.08 billion, recorded a growth of 26.1% over the previous year.
  • Net Profit for FY03 grew 10% to INR 2.37 billion..
  • Earnings per share for FY03 is INR 48.84 as against INR 45.70 for FY02.

Statement of Financial position (Rs. in million)

Sr. No.

Particulars

Audited results for the year 2002-2003

Audited results for the year 2001-2002

1

Total Turnover

11,143.4

6,935.6

2

Gross Profit Before Interest, Depreciation and Tax

4,077.3

3,232.5

3

Interest

542.7

375.5

4

Provision for Depreciation

1,174.7

656.7

5

Provision for Taxation

23.5

42.4

6

Net Profit

2,372.7

2,157.9

7

Amounts appropriated from Reserves

a)

Proposed dividend On Equity Shares On Preference Shares

8.4

117.5 8.6

b)

Corporate Tax on Proposed Dividend

0.8

c)

General Reserve

2,030.9

Guidance for FY04:
Earnings Guidance
: We maintain our guidance of a 25% to 30% growth in net earnings for FY04. “The global optical storage media industry environment remains very favorable and Moser Baer is well poised to capitalize on the sharp growth in the DVD-R format.” Said Mr. Ratul Puri, Director Moser Baer India.

Issue of Bonus Shares:
The Board of Directors recommended and approved issuance of Bonus shares in the ratio of 1:1. “This measure is one of the steps, that the company is taking, to provide better liquidity in the stock, for the benefit of the company’s shareholders.” Said Mr. Deepak Puri, Chairman and Managing Director, Moser Baer India.

Dividend for FY03:
The Board of Directors also recommended a dividend of INR 2.5 per share (25%) for the year ended March 31, 2003.

About the company
Moser Baer, headquartered in New Delhi, India, was established in 1983. The Company has successfully developed cutting edge technologies for recordable optical media, constantly innovating and introducing new products and process. An emphasis on high quality products and services has enabled Moser Baer to emerge as one of India's leading technology companies with more than a 10% share of the global recordable optical media market. The company currently employs 3,300 people and has multiple manufacturing facilities in the suburbs of New Delhi, The company services it’s customers through 6 marketing offices and subsidiaries, in India, the US and Europe. For further information please contact Rakesh Govil / Tarun Jaitly at + 91 (11) 5163 5201 or visit our site at www.moserbaer.com.

 

More press releases in September, 2003

 
   
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