Sterlite Technologies Reports Revenue Growth of 32 pc

PR Newswire | 22 Jan, 2015
Sterlite Technologies Reports Revenue Growth of 32% and EBITDA Growth of 90% on YoY Basis

PUNE, India: Sterlite Technologies "Sterlite" [BSE: 532374, NSE:STRTECH], today announced its results for the quarter ended December 31, 2014. Sterlite develops and delivers products, solutions and infrastructure for telecom and power transmission networks globally and has clear leadership position in all of its business segments in India. It has operations on a global scale with manufacturing facilities in India, China and Brazil and exports panning across all major regions in the world.

YOY growth of 32% in revenues translating into an EBITDA growth of 90% and a PAT growth of 325%.

Highest ever quarterly revenues for the quarter at Rs 895 crores on the back of strong performance in both the telecom and power segment.

Profitability continues to show an upward trend with Q3 FY15 EBITDA at Rs 102 crores up 90% from same period last year.

Current order book for the company at Rs 4700 crores represents an increase of almost 80% to our order book levels a year back.

Telecom Segment highlights

Telecom products and solutions business revenues were at Rs 412 crores driven by highest ever quarterly volumes for our Optical fiber and Optical fiber cable business at 4.6m fkm and 2.2m fkm respectively.

With our China operations now operating at near full capacity and Brazil operations ramping up, we recorded a growth of 34% in optical fiber volumes on a Y-O-Y basis.

With increased traction in India market demand for optical fiber cable, we have seen a significant jump of 56% on a Q-O-Q basis in our optical fiber cable volumes. This quarter also marked the start of revenues from our recently won NFS project.

Company announces expansion of optical cabling capacity from 8 Mn to 15 Mnfkm in light of growing opportunities in optical fiber industry.

Power Segment highlights

The power products and solutions business revenues stood at Rs 461 crores, up 61% Q-O-Q as conductor volumes at about 27,000 MT have started showing signs of improvement.

In the power products and solutions segment, we have added new accounts in the European markets for power conductors and in India for OPGW products.

Order book at Rs 2400 crores in power products segment remains healthy and well diversified with exports nearly accounting for 40% of total order book.

Power Transmission Segment

East-North Interconnection Company Ltd. (ENICL) became fully operational with completion of the second 400 KV double-circuit quad transmission line connecting Bongaigaon in Assam to Siliguri in West Bengal which makes us the only private transmission utility to successfully commission the first private mega transmission project in the country.

In Bhopal Dhule Transmission Company Ltd. (BDTCL) project, few more milestones were achieved with commissioning of two more lines and two substations taking us to nearly 60% completion for the project

The current revenue generating elements of the first three projects have an annualized revenue run rate of Rs 287 crore which has shown a major increase from the annualized revenue run rate of Rs 68 crores at end of previous quarter.

With Sterlite's investments completed in these projects, we expect the other 2 projects BDTCL and JTCL to be fully operational progressively in next 2 quarters.

Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Ltd. said, "As we move into the next calendar year backed by solid performance in the last quarter, we feel much more confident of the brighter prospects for our company. Over the years, we have developed unique capabilities required for transmission of high speed data and high voltage power and are strongly positioned to capture opportunities globally and closer home."

                          Quarter  Quarter   Quarter   9 Months 9 Months
                           Ended,  Ended,    Ended,     Ended,   Ended,  Year Ended
    Standalone Financials  Dec 31  Sep 30    Dec 31     Dec 31   Dec 31   March 31

                          Q3 FY 15 Q2 FY15   Q3 FY14   9M FY15  9M FY14     FY14
    Net Revenues (INR Cr)   895      592       680      2,051    2,081     2,726
    Net Revenues (Mn USD)   149       99       113        342      347       454
       EBITDA (INR Cr)      102       81        54        255      198       271
       EBITDA (Mn USD)       17       14         9         43       33        45
     Net Income (INR Cr)     23       13         5         45       40        50
     Net Income (Mn USD)      4        2         1          8        7         8
    USD to INR at Rs 60

About Sterlite Technologies Limited

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 & 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 Kms, across India. Listed on Stock Exchanges BSE & NSE in Mumbai, India, Sterlite Technologies is a public company with broad shareholder base.

https://www.sterlitetechnologies.com/

Media Contact: Ravindra Utgikar, ravindra.utgikar@sterlite.com, +91-20-30514000, Sterlite Technologies