Sterlite Technologies Reports FY14 Profitability Improvement

PUNE, India, April 30, 2014 /PRNewswire/ --

Starts FY 15 With a Strong Order Book of Rs 2550 Cr With Export Contribution of More Than 50%

Sterlite Technologies Limited "Sterlite" [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the telecom data and power industries, today announced its results for the quarter and fiscal year ended March 31, 2014. 

Financial highlights for FY 14

• Standalone Revenues of Rs 2726 Crores with an EBITDA of Rs 271 Crores reflecting an improvement in operating margin by almost 200 basis points on Year on Year basis. 
• Highest ever volume in all Telecom products i.e. Optical Fiber (including China Operations), Optical Fiber Cables & Data Cables business.
• Both segments witnessed margin expansion in this year 
• The Board has recommended a dividend of 15% for the year, subject to approval from shareholders.
• FY 15 starts with a healthy order book of Rs. 2550 Crores with exports accounting for almost 50% of the order book 

Business highlights in FY 14

• Subdued revenues in FY 14 for Sterlite due to sluggish ordering in power segment in domestic market and weakening of demand in China for our Telecom business.
• Continued focus on new product development with revenues from new products amounting to Rs 180 Crores in this financial year.
• The company was also granted 1 more patent in FY 14; taking the total up to 47 patents granted in USA, Europe, India & China.
• The Total R&D Spend of the company for FY 14 is 8.51 Crores.

Telecom Business

• Major customer and order wins this year including the order from Bharat Broadband Network Ltd for the prestigious National Optical Fiber Network project. Sterlite also bagged few major orders to provide Optical Fiber Cables for 4G rollout across the country
• Sterlite enhanced its telecom offerings portfolio with the launch of new products - Enhanced series of bend insensitive fiber G.652.D enhanced, G.652.D - 200 microns, G657 A1, A2 and B3 for increased efficiency in data transmission.  

Power Business

• Weak domestic demand leading to drop in revenues for this segment
• Strong focus on international markets, with successful inroads in new geographies and adding new global customer accounts.
• Booked highest ever export order on 32,000 MT for a 500 KV line project in Latin America 
• Repeat orders from its key customers in India for supply and installation of High Performance Conductors

Infrastructure Business

• In continuation of our long term business plans, the company has completed installation of India's
• largest UMTP project with commissioning of Purnea-Bihar Sharif line. The revenues of the this line have been started from Sep. 13
• Sterlite has adopted world class state of art mechanism for reducing RoW time and increasing productivity of Stringing by using helicopter for pilot wire stringing partnering with SA / South Africa chopper works
• Sterlite also added two new projects RAPP & ERSS-7 to its project portfolio positioning us as the largest private transmission player in the country 

Awards & Certifications received during the year 

• Frost & Sullivan IMEA Manufacturing excellence award for Optical Fiber Cable manufacturing facility at Silvassa 
• Received most innovative product award for Low Loss medium voltage power cables in Elecrama 2014
• Received Top Telecom Cable Company of the Year Award for Year 2013 and Best Innovation in Fiber Infrastructure in 2013 award from Amity university 

Pravin Agarwal, Director, Sterlite Technologies, says, "The year 2013-14 has seen focused efforts in business process improvements that have led to a sustainable profitability model. Moving ahead, we will keep our focus on expanding our global market share supported by strategic introduction of new products with an application based model."  

    Standalone Financials    Year Ended        Quarter Ended
                             March 14 March 13 March 14 Dec 13 March 13
    Net Revenues (Rs. Crore) 2726     3354     646      680    817
    Net Revenues (US$ Mn)    454      559      108      113    136
    EBITDA (Rs Crore)        271      260      73       54     72
    EBITDA (US$ MN)          45       43       12       9      12
    PAT (Rs Crore)           50       47       10       5      15
    PAT (US$ Mn)             8        8        2        1      2
    Diluted EPS (Rs)         1.3      1.2      0.3      0.1    0.4

Assumption US$ 1 = Rs 60

About Sterlite Technologies Limited

Sterlite Technologies Limited (STL), develops & delivers products, solutions and infrastructure for telecom & 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 also pioneering FTTH deployment in the country to enable high speed broadband connectivity. STL is developing several transmission infrastructure projects spanning over 3000 Kms, across India.

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

For more information, visit www.sterlitetechnologies.com

Media Contact : Ravindra Utgikar, [email protected], +912030514000, Corporate Communications, Sterlite Technologies Ltd.