Sterlite Technologies Limited (STL) had a particularly good performance in FY22. The digital network integrator posted a record revenue of Rs 5,754 crore and a robust order book of Rs 11,639 crore. In FY21, STL had announced its total revenues to be Rs 4,852 crore, out of which PAT (profit after taxes) came to be Rs 275 crore. However, despite record revenues in FY22, the company’s PAT fell to Rs 62 crore only. Lesser PAT could be because of reinvesting into the business.
STL Expects to Grow by 25% in FY23
Ankit Agarwal, Managing Director, STL, said the company is already witnessing inflationary headwinds at the start of FY23 and is taking actions to mitigate the impact on margins. Agarwal added that this year STL would double down on technology innovation, customer centricity, and operational excellence to achieve 25% growth. In FY22, STL’s growth was driven by three sharp levers — a) growth in the optical business, b) expanding into international markets such as the UK, and c) building access solutions. It is worth noting that in FY22, STL announced new manufacturing units in the US (United States) and the UK (United Kingdom). During the year, the company launched ‘All-in 5G’ solutions for converged and open-source networks. In the first year of operation in America, STL was able to achieve a market share of 6% and reported a 25% share in the European market, up from 16% in FY21. The company’s growth curve looks pretty aggressive in the international market. STL boasted a diversified customer base which included big names such as Telecom Italia, Netomnia, Openreach, Meta Connectivity, Vocus, Giganet, PGCIL, and Power & Tel. Further, in Q4, STL filed for 57 patents which took its global patent portfolio to 733. Note that 60% of the patents which were filed during the financial year were in the core optical business. The company was also able to bag the ‘Great Place to Work’ certification for third-year in a row.
