Sterlite Technologies reports Q2 EBITDA growth of 14%
Begins Q3 with an all-time high order book of Rs. 4,900 Crores
Pune, India – October 31, 2014:
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 September 30, 2014.
Financial highlights for Q2, FY 14-15
Revenues of Rs. 592 Crores and EBITDA at Rs. 81 Crores both showing positive growth over the last quarter.
Telecom business revenues were at Rs. 287 Crores, with 26% EBITDA margin for the quarter.
Power business is showing signs of revival with Q2 revenues at Rs. 287 Crores up 25% Q-o-Q but still remain below historic averages.
The order book stands at Rs. 4,900 Crores split fairly evenly between the Telecom and Power Business.
Business highlights
In the Telecom segment, our Brazil JV became operational during the quarter and we recorded the first supplies from that facility to the growing LATAM market.
We have signed a Joint Venture agreement with VISCAS Corporation, Japan, who would invest in our existing power cable facilities for manufacturing HV/EHV cables in India.
In the infrastructure segment, one of the lines for the BDTCL (Bhopal Dhule Transmission Company ltd.) and the Bhopal substation were charged and have become operational. The second line in the ENICL (East North Interconnection Company Ltd.) is nearing completion and is expected to start generating revenues soon.
We added new accounts in the international markets by securing orders from a major telecom operator in the LATAM market, and repeat orders from some of the key accounts in the Middle East region.
The Power segment showed signs of picking up with increase in domestic activity as well as creating access to new geographies in Africa and Europe for OPGW and Overhead T&D Conductors.
With the increasing renewable energy focus across the country, Sterlite is adding certain key Renewable Energy customers in India and abroad.
Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Ltd. stated,” With the overall focus on broadband and power infrastructure in India and globally, we are confident that the company is ready to meet these requirements as we believe we are uniquely positioned with capabilities for creating both telecom and power transmission infrastructures”
About Sterlite Technologies Limited:
Sterlite Technologies Limited (STL)(“Sterlite”) [BSE: 532374, NSE: STRTECH], 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 & 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.
www.sterlitetechnologies.com
