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Sterlite Tech releases results for QE March 2018; registers 77 per cent YoY growth in PAT

April 25, 2018

Sterlite Tech has released its financial results for the fourth quarter and year ended March 31, 2018. On an annual basis, the company’s revenues, EBITDA and PAT grew by 24 per cent, 45 per cent and 66 per cent respectively.

The company’s revenues grew by 20 per cent year-on-year (YoY). EBITDA grew by 44 per cent YoY and PAT by 77 per cent YoY, owing to growing operating leverage and improved capital structure. The company demonstrated positive performance on all key metrics of revenues, EBITDA and PAT. The company’s three-year compound average growth rate (CAGR) stands 19 per cent for revenue, 29 per cent for EBITDA and 47 per cent for PAT.

Sterlite Tech registered EBITDA and PAT margins at 28 per cent and 15 per cent respectively during the quarter ended March 2018. The board of directors have recommended a dividend of Rs 2 per share for 2017-18.

The company has been increasing its global presence, with new market additions and deeper penetration in existing markets, resulting in international revenues more than tripling from Rs 5.37 billion 2015-16 to Rs 17.35 billion in 2017-18, up by 81 per cent when compared against 2016-17.

Also, its geographic revenues split is balanced between domestic and exports, with exports accounting for about 54 per cent of revenues in 2017-18. Europe and China are now established key markets, and the company continues to maintain its leadership position in the domestic market.

The company’s deep customer engagement with Tier-1 operators, resulted in many strategic long-term contracts and order wins. The order book has grown from Rs. 30.18 billion to Rs 52.23 billion in one year, registering a YoY increase of 73 per cent. Technology led innovations is core to the company. Its patent count has increased to 189 as of 2017-18, which accounts for 14 per cent of the revenues.

Commenting on the company’s performance, Dr Anand Agarwal, CEO, Sterlite Tech, said, “We are playing an integral role in creating the next-generation fibre and software-based smarter networks to connect the world, while delivering sustainable long-term performance. We are seeing a very strong wave of fibre deployment over the next 10 years due to exponential data growth and 5G deployments across the globe. Our customers are entering into long-term contracts with us on the back of our ability to innovate for their needs. We continue to invest in technology for smarter digital networks that are software defined, centrally managed, scalable, open source with optimised capex models.”

 
 

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