Moser Baer slips to red

NEW DELHI: Moser Baer India Ltd has posted a net loss of Rs 31.73 crore for the quarter ended December 31, 2004 as compared to a net profit Rs 107.07 crore for the quarter ended December 31, 2003. Total Income has decreased to Rs 369.32 crore for the quarter ended December 31, 2004 from Rs 478.92 crore in the corresponding period last year.





Moser Baer India Ltd has also informed BSE that the Board of Directors of the Company in its meeting held on January 28, 2005 have co-opted Ajay Shah as an additional director of the company.





Over the next three years, the company expects to grow its revenue at a CAGR of 25 percent -35 percent. Most of the growth in revenue is expected to come from the DVD segment, as recordable and re-writable DVDs become the mainstay of consumer removable data storage medium.





According to the company, due to the expected robust growth in DVD-R (CAGR 2002-2005 of 221 percent) formats and the currents demand-supply equilibrium, it is continuing its next phase of expansion, in line with its aim of capturing 20 percent market-share of the global optical storage media industry, leveraging on its low-cost advantage and world-class infrastructure and technology. The company plans to spends $135 million in FY '05 to further increase its capacity to 2.4 billion units.





"Process research and innovation assumes even more importance during challenging times in the industry. The company has implemented a multi-pronged approach of increasing process yields, increasing production output and innovating on component and input development to manufacture better products at competitive costs, in our efforts to increase our global market-share," said president of Moser Baer India Ltd, PM Pai.