See FY11 earnings per share around Rs 9: Surana Ventures

In an interview with CNBC-TV18, Narender Surana, MD, Surana Ventures, spoke about the latest happenings in his company and sector.

Here is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee on CNBC-TV18. Also watch the accompanying video. Q: What do you expect in terms of revenues and profits in FY11 from your photovoltaic business? A: We would be doing a top-line of about Rs 100-120 crore, somewhere in that range, but closer to Rs 110. The bottom-line could be in the range of about 20% net. Earnings before interest, taxes, depreciation and amortization (EBITDA) would be about 25%. The growth in this sector is very good with new policies, especially of Gujarat and Rajasthan government. There would be a growth of at least 100% in this sector as a country itself. We would also expect within the company to have growth of over 100% in the first year that is FY12. This is mainly because we would be starting our cell manufacturing operation of about 35 MW which could generate, in a full year of operation, about Rs 200 crore plus. Q: What will that mean in terms of an earnings per share (EPS) you can deliver both for FY11 and then for FY12? A: FY11 should be around Rs 9 EPS and FY12 should be in the range of Rs 14-15 EPS. Q: And on back of what kind of expansion, by FY12 what kind of capacity will you working with? A: We would have a capacity on modules of around 75 MW and on cell manufacturing of about 35 MW by FY12. It would happen in June-July itself. We are also in the process of finalising our wafer manufacture which would be about 60MW. That would go on stream in early part of FY12 that is about June of 2012.