Commences Q4 FY14 With Order Book of Rs. 2600 Crores
Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its third quarter results for Financial Year 2014.
Financial highlights for Q3 FY14:
- Sterlite closed Q3FY14 with total revenue of Rs. 680 Crores and EBITDA of Rs. 54 Crores, translating in a profitability margin of 8%.
- The EBITDA margin for 9M FY14 at 9.5% shows improvement compared to same period last year.
- Exports account for 35% of total revenues in Q3 FY14, with addition of six new key customer accounts.
- Open order book at end of the Q3 FY14 at Rs. 2600 Crores with exports constituting close to 50%.
- Highest ever sales volumes in a quarter for optical ï¬ber cable at 1.6 million fiber km.
- Secured largest share for supply of Optical fiber cables and accessories in the prestigious National Optical Fiber Network (NOFN) project to connect 2,50,000 village panchayat.
- Healthy flow of orders supported by addition of new strategic customer accounts in the European and African region. Open order book at end of the Q3 FY14 at Rs. 2400 Crores with an exports accounting to around 55%.
- Received a certificate of appreciation for best product by an Indian exhibitor at ELECRAMA 2014 for registered product UltraEFFÂ® Low Loss power cable that reduces energy loss by 10%.
- The first line of the East North Interconnect project commissioned successfully in September 13, generating Rs. 16 Crores of revenue in Q3 FY14
- The execution of next two projects: Work on Bhopal-Dhule Transmission (BDTCL) and Jabalpur Transmission (JTCL) is in full swing. The revenues from these projects expected to come in next fiscal.
- The commissioning of recent two new projects - RAPP (Rajasthan Atomic power project) and ERSS-7 scheduled in February 2016.
Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited says, "We see a clear upside in both telecom and power segments fueled by a number of greenfield infrastructure investments across the world. Sterlite is focused on expanding the business in new geographies backed by our experience in executing large national infrastructure projects."
Standalone financials Q3 FY14 Q2 FY 14 Q3 FY 13 9M FY 14 9M FY13 FY 13
Net Revenue (Rs.Crores) 680 642 829 2081 2537 3354
Net Revenue (US $ Mn) 124 117 151 378 461 610
EBITDA (Rs. Crores) 54 58 60 198 188 260
EBITDA (US $ Mn) 10 11 11 36 34 47
PAT (Rs. Crores) 5 12 10 40 33 47
PAT (US $ Mn) 1 2 2 7 6 9
Diluted EPS (Rs) 0.1 0.3 0.3 1 0.8 1.2
About Sterlite Technologies Limited
Sterlite Technologies Limited ("Sterlite") [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems/ solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'.
Primary Media Contact: Ravindra Utgikar, firstname.lastname@example.org, 91-20-30514000
Secondary Media Contact: Vishal Aggarwal, email@example.com, 91-20-30514000