PUNE, India: Sterlite Technologies Limited 'Sterlite' [BSE: 532374, NSE:STRTECH], a leading global provider of solutions for the high-speed data transmission and power transmission industries, today announced its results for the quarter ended June 30, 2014.
Financial highlights for Q1 FY' 15
- Revenues of Rs. 564 crores and EBITDA at Rs. 71 crores generating a PAT of Rs.9 crores
- EBITDA margin improved by 200 basis points driven by a greater share of telecom segment in overall business
- Telecom business revenues were up 10% Q-O-Q at Rs. 322 crores, EBITDA up 25% Q-O-Q at Rs. 70 crores and EBITDA margins at 22% vs. 19% last quarter
- Power business continues to face external pressures and revenues were at Rs 229 crores down 31% Q-O-Q which significantly affected EBITDA
- All time high order book of Rs. 4,400 crores, split evenly between the telecom and power segments. Export orders constitute 28% of this order book.
Business highlights
- Secured a significant share of the prestigious Network for Spectrum (NFS) Project. The project will use Sterlite's Intrusion-proof solution for a secure communication network dedicated for defense use. In the state of Jammu & Kashmir, Sterlite is responsible for the end-to-end deployment including design, engineering, implementation and maintenance
- Secured a prestigious project for the end-to-end implementation of NRSS 29 power infrastructure. The project will connect Jammu & Kashmir region with the Northern grid and will enable transmission of 1000 MW of additional power to the region
- Signed an agreement with Standard Chartered Private Equity for an investment of Rs. 500 crores in Sterlite's Grid business with a significant portion of the proceeds being received recently
- Charged the sub-stations on the BDTCL transmission line as a part of the ongoing implementation of Sterlite's transmission infrastructure projects
- Continued to focus on export market with nearly 40% of sales this quarter to international markets. Europe and Middle East accounted for nearly 60% of the exports
- Developed new products such as the 1st non-telecom cables for oil and gas application. Also added new customers in North America and Latin America for telecom and power products.
Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Ltd. says, "We are very pleased with the overall developments during the quarter. The NFS order and the NRSS contract provide us with a good backlog for future growth. We continue to remain bullish on the high-speed data requirements and bulk power transmission requirements in India, as well as globally."
QTR Ended QTR Ended QTR Ended Year Ended
Standalone Financials June 30 March 31 June 30 March 31
FY 15 FY 14 FY 14 FY 14
Net Revenues (INR Cr) 564 646 758 2,726
Net Revenues (US $ Mn) 94 108 126 454
EBITDA (INR Cr.) 71 73 85 271
EBITDA (US $ Mn) 12 12 14 45
Net Income (INR Cr.) 9 10 23 50
Net Income (US $ Mn) 2 2 4 8
USD to INR @ Rs. 60
About Sterlite Technlogies Ltd.
Sterlite Technologies Limited (STL) develops and delivers products, solutions and infrastructure for telecom and power transmission networks globally. STL is among the global leaders in all its business areas of optical fiber, fiber optic cables, power conductors and HV / EHV power cables, through its operations in India, China and Brazil. As the most integrated optical fiber company in the world, STL is pioneering Fiber-to-the-Home (FTTH) deployment in the country to enable high speed broadband connectivity. STL is developing several transmission infrastructure projects spanning over 5000 Circuit kilometres, across India. Listed on stock exchanges BSE and NSE in Mumbai, India, Sterlite Technologies is a public company with broad shareholder base.
For more information, visit http://www.sterlitetechnologies.com/
Media Contact: Ravindra Utgikar, ravindra.utgikar@Sterlite.com, +91-2030514000, Sterlite Technologies
