Home » Solar » Moser Baer approves raising up to $125 million

Moser Baer approves raising up to $125 million

Moser Baer in its Q1 results announced that  the net sales registered a sharp growth of 16.6 % Q-o-Q resulting in a turnover of INR 523 crores recorded during the quarter. The turnaround with sharp upswing in the profitability in Q1 FY12, return to profitability indicated in the coming quarters. The company EBITDA (before finance charges) increased to Rs. 57 crores from Rs. 17 crores (Q4FY11) and expected to climb further in the coming quarters.

Strong traction in domestic Solar EPC continues resulting in a pipeline of 250MW for the EPC Unit (PV Systems) in the next 18 months the company added.

According to reports, Moser Baer India has approved raising up to $125 million by issuing equity or bonds in India or overseas, the compact disc maker said on Monday, sending its shares up as much as 4.8 per cent.

The company has also approved getting into a consulting agreement with France-based Harcourt, it said in a statement to the Bombay Stock Exchange, without giving details.

Moser Baer, the world’s second-biggest maker of optical storage media, has been posting losses for the last five quarters, and has been forced to look more aggressively at expanding its solar business.

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