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Sterlite Technologies Limited announced its results for the first quarter of FY09
|12 января 2009|
All Expansion projects on schedule; Company on track to be amongst the Top 3 power conductors supplier globally and amongst Top 5 integrated optical fiber & cable supplier globally.
Financial highlights: Q1 2008-09
Net Revenues reached Rs. 404 Crores (US$ 96 Million), up 69% year over year.
EBITDA reached Rs. 29 Crores (US$ 7 Million). As required by 'Accounting Standard 11' issued by ICAI, EBITDA for the quarter under review includes foreign exchange loss of about Rs. 14 Crores on liabilities repayable in foreign exchange. The Company being a net exporter is poised to benefit from the appreciation in US Dollar in subsequent quarters.
The revenue earned from telecom solutions was Rs. 24 Crores.
International sales showed a strong y-o-y growth by 106% to reach Rs. 153 Crores (US$ 37 Million), as compared to international sales of Rs. 74 Crores (US$ 19 Million) in Q1FY08. Sales to China, Africa & Middle East accounted for 78% of the total international sales.
Business Highlights: Q1 2008-09
At the start of Q2 FY09, the Company has a strong order book of about Rs. 1,050 Crores (US$ 250 Million) for its telecom and power products, of which the export order book is about Rs. 310 Crores (US$ 74 Million).
Sterlite received contracts valued at Rs 107 Crores from BSNL for manufacture and supply of fiber optic cables and copper telecom cables. These contracts are executable within the current fiscal.
Sterlite launched it range of Aluminum Conductor Alloy Reinforced (ACAR) and has successfully Type Tested the same at TAG Corporation, India.
Sterlite's Optical Fiber facility at Aurangabad, India has been audited and recommended for the TL 9000 Quality Standard. Among the select group of global optical fiber manufacturers, Sterlite would become the 6th Company in the world to receive this certification.
The Company won the 'TEMA National Telecom Award 2008' and was listed as the 'Top Telecom Cables Company' in India as per the annual V&D100 Survey.
As per CRU, a research agency in UK in H1 of 2008, there was an unprecedented global demand of 75 Million-km for optical fiber. This translates to an annualized CAGR of 22% for the years 2006 to 2008. In H1 of 2008, the demand of optical fiber in India was higher by 104% over that in H1 of 2007.
Mr. Pravin Agarwal - Director, Sterlite Technologies says, "We delivered a strong financial quarter during which we achieved several significant milestones. Through focused efforts in backward integration, development of application-oriented solutions, a glocalized market approach & an enhanced global customer footprint, Sterlite has transformed into a truly global, market-centric organization."