STL's revenues up 30%; strengthens presence in UK, Europe and US

USA - English

• Middle East - English

PUNE, India, Oct. 21, 2021 /PRNewswire/ -- STL (NSE: STLTECH), an industry leading integrator of digital networks today reported a robust 30% YoY revenue growth in its financial results for the second quarter ended September 30, 2021. STL recorded Rs 15.08 billion in revenues with ~43% coming in from the EMEA region and ~12% from Americas, demonstrating increased global traction for its integrated digital network solutions.

The world is witnessing massive network creation in the areas of 5G, FTTx and Open RAN with an increased focus on optical connectivity. This has led to rapid growth in fibre demand and a buoyant long term outlook. With its global footprint, fibre capacity of 50 million fibre kilometers and planned cable capacities of 42 million fibre kilometers, STL is very well positioned to lead in this decade of network creation.

Delivering on the strategic roadmap

Over the past few quarters, STL has taken a series of strategic steps to deliver on its global plans through the company's three growth levers – Grow optical business, Globalise system integration, and Build disruptive wireless solutions. This focused strategy is now yielding results.

• Optical Networking - STL is ready for the next phase of growth with global solution centres and burgeoning demand for its technology oriented optical interconnect portfolio. Focusing on advanced optical technologies, STL also announced general availability of its pFTTx offering
• System Integration - With its field-to-factory expertise, the company announced 2 top tier wins to the tune of GBP 42 million in the UK
• Wireless Solutions - This quarter, STL launched Accellus, its flagship solution for 5G-ready, open and programmable networks. With its disruptive efforts in this area, STL has built formidable intellectual property with 54 patents as of Q2 FY'22

Accelerated technology innovation 

The company continued to focus heavily on technology innovation, taking big steps like investing ~3.5% of its revenues in R&D and announcing a 5G R&D lab in the UK. STL further strengthened its patent portfolio in Q2 FY'22, taking the total patent count to 636. 5G wireless solutions and optical interconnect - STL's  strategic growth areas, contributed to more than 50% of IP filings in the current quarter. As a result of some path breaking innovations on the software front, STL was awarded the TMForum Catalyst award for its significant contributions to the acceleration of digital transformation in the telecom industry.

ESG focus at the core

While focusing on technology innovation and global expansion, STL moved forward on its ESG goals with full vigour. The company built water resilience in 12 villages and impacted 2.1 Lakh lives. With these efforts, STL won 7 awards in India and internationally, including the prestigious Energy and Environment Foundation (EEF) global WasteMet and Sustainability awards.

Financial highlights (Rs billion)

Elaborating on these achievements, Ankit Agarwal, Managing Director, STL  remarked, "With our eyes on the future, we have been taking some formative steps over the past few quarters. We have elevated our global leadership team, executed strategic M&A and launched disruptive solutions for programmable, optical and wireless networks. These steps are now translating into revenue growth. With our robust optical, wireless and system integration capabilities, we are all set to deliver on the new architecture of digital networks and take the power of connectivity to billions across the globe."

About STL

STL is an industry-leading integrator of digital networks that helps telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers. Read more, Contact us. 

stl.tech |Twitter | LinkedIn | YouTube

SOURCE Sterlite Technologies Ltd. (STL)