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Moser Baer Racks Up Loss in Q1

Moser Baer India Ltd announced unaudited financial results for its first quarter ended June 30, 2010.

According to the statement, the company posted a net loss of Rs 878.40 million ($18.78 million USD) for the quarter ended June 30, 2010 as compared to net profit of Rs 27.60 million ($0.59 million USD) for the quarter ended June 30, 2009. Total income decreased from Rs 5634.00 million ($120.42 million USD) for the quarter ended June 30, 2009 to Rs 4689.90 million ($100.24 million USD) for the quarter ended June 30, 2010.

Particulars Quarter ended 30.06.2010 Corresponding Quarter ended 30.06.2009 Previous Accounting Year ended 31.03.2010
(Unaudited) (Unaudited) (Audited)
a. Net Sales / Income from Operations 44,686 47,210 205,749
b. Other Operating Income 1,026 8,256 20,320
Net Sales / Income from Operations 45,712 55,466 226,069
Expenditure
a. (Increase)/Decrease in stock in trade and work in progress (3,497) (3,312) (1,306)
b. Consumption of raw materials 25,976 21,437 94,772
c. Purchase of traded goods/ rights 1,017 2,869 8,671
d. Employees cost 5,814 5,807 22,648
e. Depreciation/Amortisation 9,757 12,915 49,189
f. Other expenditure 12,016 11,947 41,329
g.Total 51,083 51,663 215,303
Profit (+)/ Loss (-) from Operations before other Income Interest and Exceptional Items (5,371) 3,803 10,766
Other Income 1,187 874 2,649
Profit (+)/ Loss (-) before Interest and Exceptional Items (3+4) (4,184) 4,677 13,415
Interest 4,600 4,853 18,683
Profit (+)/ Loss (-) after Interest but before Exceptional Items (5-6) (8,784) (176) (5,268)
Exceptional items - 452 882
Profit (+)/ Loss (-) before tax (7+8) (8,784) 276 (4,386)
Tax expense - - (765)
Net Profit (+)/ Loss (-) from Ordinary Activities after tax (9-10) (8,784) 276 (3,621)
Extraordinary Item (net of tax expense) - - -
Net Profit (+)/ Loss (-) for the period (11-12) (8,784) 276 (3,621)
Paid-up equity share capital 16,831 16,831 16,831
(Face value:Rs.10/- per share)
Reserves excluding revaluation reserves as per balance sheet of previous accounting year 152,371
Earnings Per Share: (not annualised)
a) Before Extraordinary items
- Basic (Rs.) (5.22) 0.16 (2.15)
- Diluted (Rs.) (5.22) 0.16 (2.15)
b) After Extraordinary items
- Basic (Rs.) (5.22) 0.16 (2.15)
- Diluted (Rs.) (5.22) 0.16 (2.15)
Public shareholding
- Number of shares 140,885,963 140,885,963 140,885,963
- Percentage of shareholding 83.71 83.71 83.71
Promoters and promoter group shareholding
a) Pledged/Encumbered 3,379,626 3,379,626 3,379,626
- Number of shares
- Percentage of shares (as a % of the total shareholding of promoter

and promoter group)

12.33 12.33 12.33
- Percentage of shares (as a% of the total share capital of the

company)

2.01 2.01 2.01
b) Non encumbered shares 24,040,515 24,040,515 24,040,515
- Number of shares
- Percentage of shares (as a % of the total shareholding of promoter

and promoter group)

87.67 87.67 87.67
- Percentage of shares (as a% of the total share capital of the

company)

14.28 14.28 14.28

Notes:

1. The company is primarily in the business of manufacture and sale of Optical Storage Media. The other activities of the company comprise, replication of content, sales of consumer electronic products and operation and maintenance of sector specific Special Economic Zone for non-conventional energy. The segment revenues, results and assets of the other activities do not constitute reportable segments under AS-17 and accordingly no disclosure is required.

2. There were no outstanding complaints from the shareholders at the beginning of the quarter and 3 complaints received from the shareholders during the quarter have been replied to satisfactorily.

3. Current quarter results have been adversly impacted by exchange fluctuation and increase in input costs.

4. During the quarter, the Company subscribed to a step down subsidiary Moser Baer Photovoltaic, Inc in USA.

5. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 12,2010.

6. Figures of the previous period/ year have been regrouped and rearranged wherever necessary.

7. Limited Review: The Limited review by the Statutory Auditors for the quarter as required under clause 41 of the Listing Agreement has been completed and the related report is being forwarded to the Stock Exchanges. The report does not have any impact on the above Results and Notes which need to be explained.

For more information visit: www.moserbaer.in

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