Telecom News --

Sterlite Technologies earns net revenues or Rs 2,263 Crores in FY11

Pune, India, 05 May, 2011

... Commences FY12 with confirmed orders of about Rs 2,200 Crores

Sterlite Technologies Limited "Sterlite" [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, today announced its results for the quarter and fiscal year ended March 31, 2011.

Financial highlights for FY11

• Revenues of Rs 2,263 Crores, EBITDA of Rs 282 Crores, PAT of Rs 141 Crores.
  
  
• EBITDA margin of 12%.
  
  
• Telecom business revenues of Rs. 657 Crores at an EBITDA margin of 26%.
  
  
• Power business revenues of Rs. 1,606 Crores at an EBITDA margin of 7%.
  
  
• International sales revenues of about Rs. 700 Crores (~US$ 156 Million); approximately 31% of net revenues.
  
  
• Diluted EPS of Rs. 3.72; the Board has recommended a dividend of 25% for the year, subject to approval from shareholders.
  

During Q4 FY11, the Company received orders valued at about Rs 1,150 Crores (~US$ 256 million) for its telecom and power products. The confirmed order book as on April 1, 2011 stands at about Rs 2,200 Crores, (~US$ 489 million). Based on customer's required delivery schedules, a bulk of these orders would be executed during FY12.

Business highlights in FY11

• Receipt of two new projects for development of India's transmission systems on 'Build, Own, Operate and Maintain' (BOOM) basis.
  
  
• Joint venture agreement in China for manufacture and sale of optical fiber.
  
  
• Strategic agreement with CTC Cable Corporation, USA for manufacture of specialty ACCC power conductors for the Indian market.
  
  
• Enhancement of product portfolio, with the introduction of OPGW cables, high ampacity conductors, bend-free optical fiber and FTTx passive solutions.
  
  
• Grant of 7 more patents, taking the total up to 30 patents granted in USA, Europe, India & China.
  
  
• Awards: Total of 18 awards during the year for excellence in human resources, financial reporting, environmental conservation, product sales and system integration.
  

Sterlite now has a portfolio of three projects with a total value of about Rs. 4000 Crores (~US$ 900 million) for power transmission systems with a network of about 2,200 km of transmission lines and 2 substations.

Update on capacity expansion projects

Sterlite's capacity expansion projects are well on track. The Company exited the year at capacities of 160,000 MT for power conductors and 12 million-km for optical fibers.

Says Pravin Agarwal, Wholetime Director - Sterlite Technologies, "The fundamentals of our business remain intact and we are committed to deliver value to our shareholders. The Board of Directors, the Leadership Team and I continue to retain a very optimistic view of our business, its market opportunities and our vision for the future."

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