Sterlite Technologies Posts H1 Sales of Rs. 1400 Crores

PUNE, India, October 25, 2013 /PRNewswire/ --

Sterlite Technologies Limited [BSE:532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, today announced its second quarter and half year results for financial year 2014.

Financial highlights:

• Sterlite closed H1 of FY 14 with EBITDA of Rs. 144 Cr over revenues of Rs. 1401 Cr translating into a profitability margin of 10%.

• Net income for the company has improved by 120 basis points from Rs. 23 Cr in H1 FY 13 to Rs. 35 Cr in H1, FY14.

• The company had a healthy flow of orders in the quarter and starts the Q3, FY 14 with a strong open order book of Rs. 2500 Cr.

• Q2 FY14 accounted for International revenues of Rs. 270 Cr. (42% of total revenues).

Business Highlights:

In the Telecom Segment

• Launch of 3 new products in the Bend-insensitive, BOW-LITE family of fiber, extending the telecom portfolio catering to FTTx applications.

• Global footprints expanded with orders from one of the fastest growing telecom companies in Africa.

• Received one of largest cable orders in the last 3 years from a leading domestic operator which will be using Sterlite's enhanced fiber.

In the Power segment

• Strengthened global presence with entry into two new geographies with exports now contributing more than 50% of the open order book.

• Secured the largest export order ever (~ 95 M USD) in the Latin America market.

In the Infrastructure segment

• Successful completion of the first line (Purnia - Bihar Sharif) for the ENICL, India's first Ultra mega transmission project in a record period of 26 months.

• Two new projects won in this Quarter: RAPP 7, 8 and ERSS - 7, with total project outlay of Rs. 650 Cr.

Standalone Financials

    Standalone                                  6 Months ended
    Financials          Quarter Ended            September 30       Year ended March 31
                   Sep 13 June 13  Sep 12      2013        2012        2013
    Net Revenues
    (Rs Crore)      642     758     842        1401        1708        3354
    Net Revenues
    (US$ Mn)        117     138     153         255         311         610
   
    EBITDA (Rs
    Crore)           58      85      54        144          128        260
    EBITDA (US$
    Mn)              11      16      10         26           23         47
   
    PAT (Rs Crore)   12      23       4         35           23         47
    PAT (US$ Mn)      2       4       1          6            4          9
   
    Diluted EPS
    (Rs.)           0.3     0.6     0.1        0.9          0.6        1.2

Assumption US$ = Rs. 55

"We continue to see consistent demand visibility for optical fiber and power conductors across geographies driven by trends like National Broadband Plan, 4G and improving regulatory environment in power sector. In a challenging economic environment, we remain committed to our strategy and our customers, and we are encouraged by increasing customer interest in our end-to-end solutions offerings," says Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited.

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, [email protected], 91-20-30514000

Secondary Media Contact: Vishal Aggarwal, [email protected], 91-20-30514000