Moser Baer revenues up 30.5 p.c.

NEW DELHI:

Moser Baer India

has posted gross revenues of Rs 475.64 crore for the

first quarter ended June 2006 with an increase of 30. 5 per cent over last year.








The company achieved a profit after tax (post deferred tax) of Rs 64.7 million
during Q1 of FY '07 against a net loss of Rs 111.5 million in Q1 of FY '06.






Earnings before Interest, tax, depreciation and Amortization (EBITDA) was at Rs
120.84 crore grew 42.1 per cent over first quarter of 2005-06.






During the quarter, the company commenced shipments of its next generation HD
DVD-R to select global OEMs. The company is the first to market with this

format, providing a significant competitive advantage over industry peers.






The company is set to launch of a series of next generation formats throughout
FY '07 with a potential “first to market” position in most of them. These

formats should contribute to future margin improvement.






“A steady improvement in market variables continues. The recovery in CDR/RW
media market pricing since last quarter is a positive, and sustainable. The

other positive during the quarter is a normalization of revenue mix. We expect

the trend to start reverting back to normal operating and financial levels in

the medium term driven by increasing DVDR/RW contribution, improving CDR/RW

pricing, rising production efficiencies and softening of input costs.” said

Ratul Puri, executive director, Moser Baer India Ltd, said.






In its guidance, the company said that it continues to expect a three year CAGR
of 25-35% in its revenues. Most of the growth in revenues is expected to come

from the DVD segment and roll-out of next generation technology formats.






During FY06, the company spent $87million to expand capacity to 2.8 billion
units per annum. The company plans to further increase its annual optical media

capacity to 3.2 billion units at a cost of $75 million.






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