STL has announced the consolidated financial results for its fourth quarter (Q4) and financial year ending March 31, 2021.
The company reported Rs 48.25 billion in revenue and an order book of over Rs 107 billion, backed by large global deals in FY21. Besides, STL closed the year with 27 per cent YoY revenue growth, and exports at 42 per cent. Further, the company’s net profit witnessed a YoY growth of 55 percent at Rs 5.39 billion during the period.
As investments in digital networks accelerated in 2020, STL continued to perform and grow by delivering robust optical, system integration and virtualised access solutions. Fuelled by global expansion and new product launches, STL enhanced its addressable market to $40 billion. Further, in Q4 FY’21, STL demonstrated sequential QoQ revenue growth, while strengthening its core optical solutions and expanding its wireless footprint.
Some key highlights
- STL won multi-year, multi-million global deals, such as:
- A three-year strategic collaboration with Openreach to provide millions of kms of optical fibre cable to help connect UK with a full-fibre network
- ~$100 million deals in the MEA region – for building future-ready digital networks
- Partnership with Airtel to build optical network across 10 circles
- Exhibited strong growth in OFC volume and Optical Interconnect business – STL grew its OFC volume by more than 35 per cent in FY’21. Optotec’s interconnect products are now integrated into its Opticonn solution
- Grew Patent portfolio by 105 per cent- With 191 filings in FY’21, STL’s global patents reached 569, also adding the first 5G patent
- Developed 5G and Open source products – STL developed hardware plus software offerings including Garuda indoor small cells and 5G radios and tested programmable FTTx with a large Asian telco
- Delivered exponentially despite the pandemic – With technology excellence, STL took Project Varun (Navy Communication Network) and Mahanet (Rural broadband) to 92 per cent and 98 per cent completion, respectively
- Hired industry stalwarts globally – across the US, the UK, Singapore and India
Going forward, company’s three levers will drive growth; leveraging the continued success of Optical Connectivity solutions, Networks Services and building a new Access Solutions business
- Growing OFC volume and Optical Interconnect business
- Building a strong portfolio of open-source Access Solutions
- Taking the System Integration business global while scaling in India
Commenting on the development, Dr. Anand Agarwal, Group CEO, STL, said, “In current times, our topmost priority is keeping our employees and communities safe while continuing to engage deeply with our customers. The next decade of network creation has begun, with accelerated investments towards 5G, FTTx, and O-RAN. STL has used this momentum as a springboard to enhance its capabilities and deliver. Going forward, we will continue to create value for our customers and deliver growth for our shareholders with a razor-sharp focus on technology innovation, global expansion, and deep customer engagement.”