Sterlite Technologies Continues to Deliver Strong Performance; Q2FY10 EBITDA up 83%
Submitted by: Sterlite Technologies Limited
2009-10-21 00:03:23
- Strong growth in operating performance, Q2FY10 EBITDA of Rs. 91.1 Crores (Vs. Rs 49.7 Crores in the last fiscal) backed up by strong volume growth and improved profitability.
- EPS of Rs. 8.00 for Q2FY10 (Vs Rs. 0.93 in the last fiscal).
- Robust international sales in Q2FY10 of Rs. 170 Crores; 37% of Revenue.
- Revenue mix changing favorably to Optical Fiber from Copper Cables
- Capacity expansion projects for optical fiber and power conductors on track for completion as scheduled.
(OPENPRESS) October 21, 2009 -- Sterlite Technologies Limited [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, today announced its results for the quarter and half year ended September 30, 2009.
Financial Highlights in H1FY10
- Strong Operating Profit (EBITDA) of Rs. 171.3 Crores up 88% year over year.
- Net Profits (PAT) of Rs. 100.1 Crores, against Rs. 14.9 Crores in last year.
- EPS of Rs. 14.66 up by 640% year on year.
- ROCE at 24% vs 11% in last year
- International sales reached Rs. 326 Crores in H1FY10, approximately 36% of net revenues. Receipt of repeat orders from current customers and the addition of new eminent global customers in all of the company's focus regions.
Business Highlights in Q2FY10
- At the start of Q3FY10, the Company has a strong order book of about Rs. 1,725 Crores for its power and telecom products.
- Achieved highest quarterly sales volumes for optical fibers and data cables in Q2FY10.
- Grant of 4 more patents in India, taking the total up to 20 patents granted.
Progress on ongoing expansion projects
Sterlite's current optical fiber facility of 6 Million-Km is already under expansion to 12 Million-Km, which would get established in the current fiscal. Sterlite has decided to further enhance this capacity to 20 Million-km, which would position Sterlite amongst the Top 3 manufacturers globally. Additionally, Sterlite has decided to enhance the capacity at its power conductors facility to 160,000 Metric tons, which would position the Company as the largest manufacturer globally. Both of these expansion projects are well within their completion schedules.
Says Pravin Agarwal - Director, Sterlite Technologies, "Despite the very difficult market conditions faced in recent months, our results are in line with our forecasts. The trends in both the telecom and power sectors continue to point towards good growth in terms of volumes for our core products - Optical Fiber and Power Conductors. Sterlite will continue to focus on pursuing its strategic objectives, the most important of which are economies of scale through capacity enhancements, cost efficiencies and maximizing free cash flow."
Contact Info
Sterlite Technologies Limited
Phone: +91-20-30514000
Website: http://www.sterlitetechnologies.com
4th Floor, Godrej Millenium, 9 Koregaon Road, Pune 411001, Maharashtra, INDIA
