Tuesday, July 13, 2010

MOSER-BAER(I)LTD = FY10 STILL IN LOSS = NEW PRODUCTS = MUST TRANSLATE TO MORE SALES & PROFITS


Moser-Baer (I) Limited
NSE Symbol   MOSERBAER
Fy10 –FY09-FY08
COMPARISON


ABOUT MOSER- BAER : In recent times, Moser- Baer has consistently pursued cutting-edge R&D and innovative manufacturing processes to assume leadership in the Optical Media business. It has now entered the promising businesses of Photovoltaics, Home Entertainment and Consumer Electronics & IT Peripherals. These businesses are expected to propel the next wave of growth and profitability at Moser Baer – as per the web site of the company. As can be seen from its communications  to NSE – it has been introducing new products periodically.
Moser Baer(I) Limited has declared its results for FY10 – which are compared below with the previous 2 years.

STAND ALONE RESULTS

Net Sales has come down in FY10 by 10.1% to Rs.2057 Cr from Rs.2289Cr in FY09 but has increased by 8.3% compared to Rs.1899.79 Cr in FY08.
Total Expenditure  has also come down by 9.1% to Rs.2153 Cr from Rs.2369 Cr in FY09 but has increased by 12.2 % from Rs.1919 Cr in FY08.
Profit from Operations  is positive in FY10 at Rs.107.66 Cr, compared to the operational loss of Rs.79.58  Cr in previous year.
Net  loss at Rs.36.21 Cr is reduced by 76% from the loss of Rs.150.88 Cr in FY09, and by 54.1 % from Rs.78.90 Cr loss in FY08.
Dividend has however been maintained at 6% in FY10 – against the same 6% in FY09 and 10% in FY08.
Basic EPS is Rs.(-)2.15 in FY10  against  Rs.(-)8.96 in FY 09 and Rs.(-)4.7 in FY08. Public Holding in the company is a huge 83.71%.

NON-CONSOLIDATED FIGURES :

FY10-in lakhs
dif%1
dif%2
Net Sales
205749
228945
189978.9
-10.1
8.3
Other Opg Income
20320
-
10193.9
99.3
SIT&WIP
-1306
-1955
-10250.6
-33.2
-87.3
Raw Materials
94772
108377
101525.8
-12.6
-6.7
Traded goods
8671
15208
5578.5
-43
55.4
Employees Cost
22648
22280
18930.9
1.7
19.6
Depreciation
49189
49714
43158.7
-1.1
14
Other Expdr
41329
43279
32986.7
-4.5
25.3
Total Expdr
215303
236903
191930
-9.1
12.2
Profit-Operations
10766
-7958

-235.3
Other Income
2649
3546

-25.3
P.B.I&EI
13415
-4412

-404.1
Interest
18683
20532
17935.7
-9
4.2
Pr. AF. In. Be.EI
-5268
-24944

-78.9
Exceptional items
-882
-9103
-1996.5
-90.3
-55.8
P B T
-4386
-15841
-7696.4
-72.3
-43
Tax Expense
-765
-753
194.5
1.6
-493.3
P A T
-3621
-15088
-7890.9
-76
-54.1
Net Profit
-3621
-15088
-7890.9
-76
-54.1
Dividend (%)
6
6
10
0
-40
Face Value -Rs
10
10
10
0
0
Paid-up Equity
16831
16831
16823.1
0
0
Reserves
-
151507
-
Basic EPS be.EI
-2.15
-8.96
-4.7
-76
-54.3
Public holding-%
83.71
83.71
83.7
0
0


CONSOLIDATED RESULTS

The consolidated results below indicate approximately the picture of the company. Promoters shares of 12.33% of their shareholding stands pledged.
Net sales have gone down by 6.3% from last year. Total expenditure has gone up by 1.4% in the same period. Consolidated Net loss has increased by 8.3%
Basic EPS is down to Rs.(-)23.41 from last year’s Rs.(-)21.61.  The Rs.10 Face value shares of the company are quoting around  Rs.70.
While the product launches seem to be happening periodically – sales and profitability need to improve considerably.

CONSOLIDATED FIGURES :

FY10-lakhs
dif%
Net Sales/Income from Operations
245185
261769
-6.3
Other Operating Income
28044
-
Increase/Decrease in Stock in trade and work in progress
-6236
-16272
-61.7
Consumption of Raw Materials
147415
152450
-3.3
Purchase of traded goods
6680
14039
-52.4
Employees Cost
30395
29577
2.8
Depreciation
56454
51166
10.3
Other Expenditure
55170
54971
0.4
Total Expenditure
289878
285931
1.4
Profit from Operations
-16649
-24162
-31.1
Other Income
2795
5735
-51.3
Profit before Interest & Exceptional Items
-13854
-18427
-24.8
Interest
28034
27339
2.5
Profit after Interest but before Exceptional Items
-41888
-45766
-8.5
Exceptional items
-1808
-8670
-79.1
Profit(+)/Loss(-) from Ordinary Activities before tax
-40080
-37096
8
Tax Expense
-714
-733
-2.6
Net Profit(+)/Loss(-) from Ordinary Activities after tax
-39366
-36363
8.3
Extraordinary Items
-
-
Net Profit (+) / Loss (-) for the period
-39366
-36363
8.3
Minority Interest
-
-
Shares of Associates
28
12
133.3
Other Related Items
-
-
Consolidated Net Profit (+) / Loss (-) for the period
-39394
-36375
8.3
Dividend (%)
-
-
Face Value (in Rs.)
10
10
0
Paid-up Equity Share Capital
16831
16831
0
Reserves excluding Revaluation Reserves
-
-
Basic EPS before Extraordinary items (in Rs.)
-23.41
-21.61
8.3
Diluted EPS before Extraordinary items (in Rs.)
-23.41
-21.61
8.3
Basic EPS after Extraordinary items (in Rs.)
-23.41
-21.61
8.3
Diluted EPS after Extraordinary items (in Rs.)
-23.41
-21.61
8.3
Public Shareholding (%)
83.71
83.71
0
Promoter Shares Pledged
3379626
-
Pledged(as a % of totalpromoter holding)
12.33
-
Promoter Shares Non-encumbered
24040515
-
Non-encumbered -as a % of total oromoter holding
87.67
-


ANNOUNCEMENTS
TO THE EXCHANGE

13-07-2010        Moser-Baer (I) Limited has informed the Exchange that the Annual General Meeting will be held on September 30, 2010. Further, the Register of Members and Share Transfer Books of the Company will remain close from September 29, 2010 to September 30, 2010 (both days inclusive) to determine the shareholders who will be entitled to receive the dividend, if any, declared for the financial year 2009-10 at the ensuing Annual General Meeting. 
13-07-2010        Moser-Baer (I) Limited has informed the Exchange that the Board of Director of the Company at their meeting held on July 12, 2010 has Recommended the dividend of 6% (Re.0.60/-per share) on the paid-up Equity Share Capital of the Company.
24-06-2010        Moser-Baer (I) Limited has informed the Exchange regarding a Press Release dated June 24, 2010 titled "Moser Baer PV Systems business takes leadership in the Solar EPC segment"
24-05-2010        Moser-Baer (I) Limited has informed the Exchange regarding a press release dated May 24 2010 , titled "Omax Autos introduces 200 kWp of solar photo voltaic power designed and installed by Moser Baer Photo Voltaic at their facilities in Manesar & Dharuhera,Haryana".   
03-05-2010        Moser-Baer (I) Limited has informed the Exchange regarding a press release dated April 30 2010 , titled "Moser Baer announces Q4 and FY 2010 results".         Click Here
01-05-2010        Moser-Baer (I) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 52730 lacs for quarter ending on 31-MAR-2010 against Rs. 46987 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 630 lacs for the quarter ending on 31-MAR-2010 against Rs. 4293 lacs for the quarter ending on 31-MAR-2009.      -
22-04-2010        Moser-Baer (I) Limited has informed the Exchange regarding a press release dated April 22, 2010 , titled "Moser Baer Trust launches 'Aakar'- a centre for capacity building amongst marginalized women in Noida, UP". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
15-04-2010        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated April 14, 2010, titled " Moser Baer Photo Voltaic forays into Australian market." A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
08-04-2010        Regulation 8A of SEBI (SAST) Regulations       -
07-04-2010        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated April 07, 2010, titled " Moser Baer commissions first of its kind 1 MW Thin Film solar farm in Maharashtra Connects the solar farm to the local grid." A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
15-03-2010        Moser-Baer (I) Ltd has informed the Exchange that the Shareholders of the Company had passed a special resolution under section 81(1A) of the Companies Act, 1956, by way of postal ballot, to revise the conversion price for the Company's existing FCCBs and also to offer, issue and allot in one or more tranches, whether rupee denominated or denominated in foreign currency, in one or more foreign markets, or by way of a qualified institutional placement under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) for a value of up to USD 165 Million, representing such number of GDRs, ADRs, FCCBs (including for exchange with existing FCCBs) and/or Equity Shares through the Depository Receipts Mechanism and/or Equity Shares and/or warrant convertible into Equity Shares simultaneously with non-convertible debenture and/or any Other Financial Instruments (OFIs) convertible into or linked to Equity Share as set out in the Postal Ballot notice dated January 29, 2010. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.        -
09-03-2010        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated March 09, 2010, titled "Moser Baer achieves 7.3% module efficiency through its proprietary process, increasing the module wattage from 340 watt / panel to 400 watt / panel". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
05-03-2010        Moser-Baer (I) Ltd has informed the Exchange that pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 for passing the following Special Resolution:(1) Special Resolution under section 81(1A) of the Companies Act, 1956 to revise the conversion price for the Company's existing FCCBs and also to offer, issue and allot in one or more tranches, whether rupee denominated or denominated in foreign currency, in one or more foreign markets, or by way of qualified institutional placement under the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) for a value of up to USD 165 Million, representing such number of GDRs, ADRs, FCCBs (including for exchange with existing FCCBs) and / or Equity Shares through Depository Receipt Mechanism and / or Equity shares and / or warrants convertible into Equity Shares simultaneously with non-convertible debenture and/or any Other Financial Instruments (OFIs) convertible into or linked to Equity Shares. A copy of Postal Ballot Notice shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
10-02-2010        Moser-Baer (I) Ltd has informed the Exchange vide its letter dated February 10, 2010 that "The Company's subsidiary company Moser Baer Photo Voltaic Limited has today terminated its long-term wafer purchase contract with REC Wafer Norway AS ("REC") in exercise of its rights under the aforesaid contract".    -
01-02-2010        Moser-Baer (I) Ltd has informed the Exchange vide its letter dated January 29, 2010 that "In furtherance to the resolution passed by the Board of Directors of the Company at the meeting held on 11.01.2010 to raise funds through equity or equity linked instruments for a value not exceeding US Dollars 100 million, the Board of Directors at the second meeting held today decided, subject to necessary approvals, to raise additional funds for a value not exceeding USD 65 million, through equity or equity linked instruments, for the Company's growth plans and for correcting the capital structure and strengthening the Balance Sheet of the Company. The Board also considered the need for flexibility in current market environment regarding timing of the fund raise by way of approaching the markets in one or more tranches with different instruments. Thus, subject to the approval of shareholders of the Company and such other approvals as may be required to be obtained in this regard, the Company may issue equity shares or equity linked instruments to qualified institutional buyers or FCCBs/GDRs/ADRs or equity shares through the depository receipts mechanism and/or other financial instruments convertible into or linked to equity shares for a total amount not exceeding USD 165 million". -
29-01-2010        Moser-Baer (I) Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2009 as follows: Net Sales of Rs. 53975 lacs for quarter ending on 31-DEC-2009 against Rs. 63931 lacs for the quarter ending on 31-DEC-2008. Net Profit / (Loss) of Rs. 323 lacs for the quarter ending on 31-DEC-2009 against Rs. (2565) lacs for the quarter ending on 31-DEC-2008.         -
20-01-2010        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated January 20, 2010, titled "Moser-Baer extends its range of TFT monitors Offers new range in Energy Efficient series". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
18-01-2010        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated January 18, 2010, titled "Moser-Baer launches content loaded Micro SD cards". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
12-01-2010        Moser-Baer (I) Ltd has informed the Exchange vide its letter dated January 11, 2010 that: "The Board of Directors at the meeting held today decided, subject to necessary approvals, to raise funds through equity or equity linked instruments for the company's growth plans. They further decided that, subject to the approval of shareholders of the Company and such other approvals as may be required to be obtained in this regard the company may issue equity shares or equity linked instruments to qualified institutional buyers or FCCBs/GDRs/ADRs or equity shares through the depository receipts mechanism and/ or other financial instruments convertible into or linked to equity shares for a value not exceeding US Dollars 100 million".   -
04-01-2010        Moser-Baer (I) Ltd has informed the Exchange that the CARE has rated the bank facilities of Moser Baer India Limited as follows:- (1) Long term Bank Facilities: BBB- (Triple 'B' Minus) (2) Short Term Bank Facilities: PR3 (PR 'Three' ).     -
10-11-2009        Moser-Baer (I) Ltd has informed the Exchange regarding a press release dated November 10, 2009, titled "Moser Baer introduces sleek and stylish Bluetooth Headset models". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
31-10-2009        Moser-Baer (I) Ltd has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2009 as follows: Net Sales of Rs. 99044 lacs for half year ending on 30-SEP-2009 against Rs. 107124 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. (4578) lacs for the half year ending on 30-SEP-2009 against Rs. (14582) lacs for the half year ending on 30-SEP-2008.        -
31-10-2009        Moser-Baer (I) Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2009 as follows: Net Sales of Rs. 51834 lacs for quarter ending on 30-SEP-2009 against Rs. 59231 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. (4854) lacs for the quarter ending on 30-SEP-2009 against Rs. (4184) lacs for the quarter ending on 30-SEP-2008.         -
08-10-2009        Moser-Baer (I) Ltd has informed the Exchange regarding the cancellation of repurchased Foreign Currency Convertible Bonds (the "FCCBs").The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). 


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