- Reports Q1 FY19 results with nearly 2x increase in Net Profits on YoY basis
- Order Book continues to grow, and is now at an all-time high of €755 Million, with deep long-term engagements with global Tier-1 customers
- Strategic guidance of €85 Million PAT in FY20 to be expedited
Gurugram, India – July 19, 2018: Sterlite Tech [BSE: 532374, NSE: STRTECH], an end-to-end global technology leader in smarter digital networks, today posted its financial results for the first quarter ended June 30, 2018.
The company has been demonstrating sustainable growth historically, with a 47% CAGR growth in Net Income in the last three financial years. Q1 FY19 alone saw Net Profits almost double, compared to last year, driven by growth in Revenues and expansion of margin profile.
Architecting for future growth
With yet another strong quarter, the Company continues to reinforce its strategy of designing, building and managing smarter networks, even as it architects itself for robust growth in fibre and emerging market opportunities aligned to its strategy.
- Global expansion focus, reinforced by the recent announcement of the acquisition of Metallurgica Bresciana, a European optical fibre cable manufacturer. With this strategic acquisition, the Company augments its access to new European Tier-1 customers, enhances its supply chain flexibility to better serve the European market and adds complementary speciality cables to its product portfolio. The Company now has a customer presence in more than 100 countries and manufacturing, R&D and software development facilities in India, China, Italy and Brazil.
- Three growth engines for agility and pace – Products, Services and Software, with leaders for each of the three business verticals. These units will work together to offer the best unified solutions to customers, and at the same time have agility for technology innovation and delivery solutions.
“We are fortunate to be in a business that has an impact on everyday living, while also growing rapidly. I am confident that our strategy of building next-generation smarter networks that are fibre led will create differentiating impact on consumers. Our solutions are enabling data security for our Defence establishments and hyper-connectivity for Telcos, Global Internet Companies and Enterprises,” said Dr Anand Agarwal, CEO at Sterlite Tech. “Our continued financial growth is a reflection of our strategic positioning, deep technological innovation to better serve our customers, strong corporate ethics and governance,” he added.
Sustained quarterly financial growth – Q1 FY19 results
On its next growth cycle, building infrastructure for 5G backhaul, fibre-to-the-home, data centres and Internet of Things related applications, the Company’s key financial performance metrics continued to be healthy. Key growth highlights for Q1FY19 were:
- Revenues at €110 Million, up 18% on YoY basis
- EBITDA at €32 Million, up 54% on YoY basis
- PAT at €15 Million, up 99% on YoY basis
*Applicable Exchange Rate as on June 30th, 2018
The Company has also given strategic guidance for net income growth of €85 Million in FY20, which is expected to be expedited with the recently announced acquisition.