Moser Baer India Limited (MBIL) today released its financial results for the quarter ended December 2015. The company’s Board of Directors, at its meeting in New Delhi, approved the financial results for October-December 2015 quarter.

Highlights:

  • Total income stood at INR 1,408.4 million during the quarter.
  • Optical Media business in the domestic market continues to grow Q-o-Q; restoration of confidence with international OEM customers to have positive impact on the order book in the coming quarters.
  • Solid State Media (SSM) recorded 19% increase in the turnover Q-o-Q.
  • Overall Margins remained stable as the Company undertook various initiatives to improve efficiencies and reduce costs.

Shiv Nath, Chief Executive Officer, Moser Baer India Ltd., further commented “The companycontinues to experience liquidity challenges impacting the timing of ourrecovery. We continue to explore strategic partnerships to mitigate the liquidity issues in order to address the market opportunities more effectively. The Union Government’s focus on campaigns like“Make in India” andpromotion of energy efficient lighting should help Indian technology manufacturingcompanies like Moser Baer.”

Trends in Storage Media:

  • Net Sales stood at INR 1266 million.
  • Decline in overall ASPs  due to softening prices and change in product mix during the quarter; however the impact was partially offset by declining fuel prices and positive exchange impact.
  • Margins and cash flows are expected to strengthen in the coming quarters with restoration of volumes in optical media segment and continued growth in SSM segment.

Trends in Solid State Lighting: 

  • Continued focus on expanding distribution across B2B and B2C segments.
  • Company exploring strategic partnerships to address B2G segments.

Financial Update

  • The Company continued with itspreparatory process to restructure the outstanding FCCBs, subject to applicable approvals.
  • The Company is actively engaged in dialogue with secured lenders to address liquidity and debt issues to support business recovery.

Trends in the Solar Photovoltaic business:

  • Volatility in DCR orders and delay in disbursement of approved government subsidy continues to impact the manufacturing operations.
  • Short term measures undertaken to reduce costs pending injection of liquidity.
  • The solar business is in discussion with thewinners of DCR bids for potential award of contracts.
  • Company is increasing focus on Small Modules segment, capitalizing on its Brand and Quality strengths with offerings of 40W, 74W, 100W, 125W and 150W panels. Currently under discussion with banks for debt restructuring based on significant recovery of PV sector.

Commenting on the solar business of the company, K N Subramaniam, CEO, Moser Baer Solar Limited shared, “The solar manufacturing environment in India is looking positive with a number of DCR tenders being floated in the market. We believe that we can play a significant role in the market provided liquidity and debt issues are addressed adequately.”

 

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 in India. Over the years the company has entered into exciting areas of technology manufacturing 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 (2009 – 2012) 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 :

Corporate communications:

Communications.mb@moserbaer.in

011-40594175