Sterlite Technologies Ltd
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BSE Code:
532374
NSE Code:
STRTECH*
Business Profile
Business Profile
Sterlite Optical Technologies (STERLITEOPT) is a leading global provider of optical fibers, power transmission conductors, and telecommunication cables. The company is India`s only integrated optical fiber manufacturer and is among the select few globally. Part of the Sterlite group, it was demerged from Sterlite Industries and its operations started in the year 2000. Its non-executive chairman is Anil Agarwal and Dr. Anand Agarwal is the CEO and whole-time director.
The company is a market leader in India with a share of over 60% in optical fiber and telecom cable products and about 25% of high voltage power transmission conductors. Products include optical fibers for telecommunication; terrestrial fiber optic cables and copper telecom for long-haul, metropolitan, access and premise networks; and cables support gigabit Ethernet (1000 baseT) standard. Its subsidiaries are Sterlite Telecom, Sterlite Telecables and Sterlite Telelink.
The company has won a patent for the invention of its Sterlite DOF-LITE (LEA) single mode optical fiber and has acquired more in US and China. It has bagged huge contracts with MTNL and BSNL with its Ethernet and fiber optic technology. The company commenced production of power transmission and distribution conductors at its new facility in Haridwar, Uttarakhand. It now has a cumulative manufacturing capacity of 115,000 MT, which makes it the largest manufacturer in India and amongst the top five global manufacturers of power conductors. It has acquired the power transmission conductors business from Sterlite Industries.
Several awards through the years include the Ramkrishna Bajaj National Quality Award (RBNQA) - Certificate of Commendation 2006. The company currently exports its telecom and power products to over 60 countries.
Its corporate office is at 4th Floor Godrej Millenium 9, Koregaon Road, Pune 411001, Maharashtra and registered office at E-1, MIDC, Waluj, Aurangabad 431136, Maharashtra.
Financials
Sterlite Optical Technologies registered a 283.73% growth in net profit to Rs 127.4 million for the quarter ended June 2007 from a profit of Rs 33.2 million for the quarter ended June 2006.
Net sales increased 2.47 times to Rs 2395.6 million for the quarter ended June 2007 from Rs 971.7 million for the quarter ended June 2006.
Total income rose 141.64% to Rs 2420.5 million for the quarter ended June 2007 from Rs 1001.7 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 2.07 for the quarter ended June 2007.
Recent Developments
01-OCT-07
Optic-fiber cable maker, Sterlite Optical Technologies has acquired a 58.7% stake in Sterlite Infrastructure. With this acquisition Sterlite Infrastructure has become a subsidiary of Sterlite Opticals.
22-AUG-07
Sterlite Optical Technologies commenced production of power transmission and distribution conductors at its new facility at Haridwar, Uttarakhand. The company now has a cumulative manufacturing capacity of 115,000 MT, which makes Sterlite Optical Technologies the largest manufacturer in India and amongst the top 5 global manufacturers of power conductors.
14-AUG-07
1. Sterlite Optical Technologies secured a Rs 380 million order from Bharat Sanchar Nigam (BSNL). The contract is for the manufacture and supply of high fiber count ribbon fiber optic cables within the next six months. The cables will be installed in BSNL`s pan-India optical fiber access network (OAN).2. Sterlite Optical Technologies allotted 56,980 equity shares to its employees under employee stock option scheme (ESOS), 2006 .
07-JUN-07
Sterlite Optical Technologies has been granted a patent by the United States Patent & Trademark Office for invention of its Sterlite DOF-LITE (LEA) Single Mode Optical Fiber. Product Patent US 7,209,620,B2 for `Dispersion optimized fiber having higher spot area` was granted in April 2007 and is valid up to year 2024. This dispersion-optimized fiber with higher spot area (Sterlite DOF-LITE LEA) is specially designed for long haul, high data rate and multi wavelength transmission.
Future Plans
The company plans to manufacture and market optical fiber cable products for US, Canada and Mexico. It intends to set up its base in the US as almost 90% of its revenue comes from exports.