Optical storage major Moser Baer India has raised its earnings guidance to 30-35 per cent from 25-30 per cent in 2003-04.
"We raise the net earnings growth guidance to 30-35 per cent from 25-30 per cent for FY04 and the company's capital expenditure will be $50 million more in the second half of the quarter," company sources said, adding that in the first half, it was $112 million.
Rupee appreciation, raw material cost trends and demand cycle in the industry will have significant influence in the operations of the company in the next six months, they said.
"We will be investing $50 million in the second half of the current fiscal to increase the capacity of CDRs (recordable compact discs) to 1.85 billion units from the current 1.45 billion units," sources said.
The total investment for the entire fiscal would be $162 million, and during the first half, it achieved a capacity of 1.45 billion units.
Last week, the company executive director Ratul Puri had said Moser Baer would increase prices of its flagship recordable compact discs by 5-10 per cent in early January next due to rise in global demand.
For the second quarter ended on September 30, the company's net profit stood at Rs 82 crore (Rs 820 million), reflecting a growth of 105 per cent over the same period a year ago.
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