Expect demand to remian strong in coming quarters – Sterlite Tech

Expect demand to remian strong in coming qtrs; seeing volume growth & margin expansion in both biz; H1 EBIDTA at 19%; increase in capacity leading to reduction in costs: Sterlite Tech

Anand Agarwal, Director & Chief Executive of Sterlite Technologies said that he is expecting the demand to remian strong in coming quarters. He is seeing volume growth and margin expansion in both businesses. Company’s H1 EBIDTA was 19%. An increase in capacity is leading to reduction in costs. He expect 30% growth in EBIDTA in H1 FY11.

Sterlite Technologies caters to telecom & power sectors. It is a leading manufacturers of optic fibre. The company has increased the capacity. Its current optical fibre facility is at 6 m kms. Power and Al conductor business caters to T&D companies.

Recently, the company bagged orders worth Rs 600 crore in November from Indian and African players. Of this, 30% of the contract value will be executed in FY10. Company’s total order book is at Rs 2050 crore.

Sterlite Technologies’ Q2FY10 revenues stood at Rs 465.8 crore Vs Rs 665.6 crore, EBITDA stood at Rs 91.1 crore Vs Rs 49.7 crore and net profit stood at Rs 54.7 crore Vs Rs 6.1 crore. EPS was at Rs 8 Vs Rs 0.93

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