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Sterlite Technologies Records Strong Sustained Growth, Strengthens Position With Long-Term Orders

Sterlite Technologies focuses on continued investments in 5G Wireless, ORAN, and Optical solutions.

April 29, 2021

Sterlite Technologies
STL reports order book of over Rs. 10,700 crore with diversified global wins

Sterlite Technologies has announced the consolidated financial results for its fourth quarter and financial year ending March 31, 2021. The company reported Rs. 4,825 crore in revenue and an order book of over Rs. 10,700 crore, backed by large global deals.

FY21- Beginning of the next decade of digital network creation

2020 witnessed telcos committing billions of dollars towards strengthening digital networks. The need for high bandwidth and low latency added impetus to 5G and FTTx plans. This accelerated the shift towards Open Networking with multiple global trials for Open RAN. 2021 is set to usher in the decade of network creation; with 5G, FTTx and O-RAN at the centre stage. These mega trends are expected to boost the optical demand, early signs of which are already visible.

STL built capabilities and won global deals

As investments in digital networks accelerated in 2020, STL continued to perform and grow by delivering robust optical, system integration and virtualized access solutions. Fueled by global expansion and new product launches, STL enhanced its addressable market to USD 40 billion.

STL won multi-year, multi-million global deals, such as:

  • A three-year strategic collaboration with Openreach to provide millions of kms of optical fibre cable to help connect UK with a full-fibre network
  • USD 100 million deals in the MEA region – for building future-ready digital networks
  • Partnership with Airtel to build optical network across 10 circles

The company has exhibited strong growth in OFC volume and optical Interconnect business. STL grew its OFC volume by more than 35% in FY’21. Optotec’s interconnect products are now integrated into its Opticonn solution.

STL grew patent portfolio by 105% — with 191 filings in FY’21, STL’s global patents reached 569, also adding the first 5G patent. It has developed 5G and Open source products. STL also developed hardware plus software offerings including Garuda indoor small cells and 5G radios and tested programmable FTTx with a large Asian telco.

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STL delivered exponentially despite the pandemic — with technology excellence, it took Project Varun (Navy Communication Network) and Mahanet (Rural broadband) to 92% and 98% completion, respectively. The company also hired industry stalwarts globally –  across the US, the UK, Singapore and India.

Achieved glowing industry recognition for disruptive technologies

  • Recognized by BCG – Top 100 Tech Challengers for the next generation of innovation in emerging countries
  • Featured in STL Partners’ prestigious lists – ’10 next-gen RAN solutions providers’ and ‘60 Edge computing companies’ to watch out for
  • Awarded by DuPont – Safety & Sustainability for zero waste to landfill

Demonstrated revenue growth and robust financials

STL closed the year with 27% YoY revenue growth, and exports at 42%. Going forward, our three levers will drive growth; leveraging the continued success of Optical Connectivity solutions, Networks Services and building a new Access Solutions business

  • Growing OFC volume and Optical Interconnect business
  • Building a strong portfolio of open-source Access Solutions
  • Taking the System Integration business global while scaling in India

“In current times, our topmost priority is keeping our employees and communities safe while continuing to engage deeply with our customers,” said Dr. Anand Agarwal, Group CEO, STL. “The next decade of network creation has begun, with accelerated investments towards 5G, FTTx, and O-RAN. STL has used this momentum as a springboard to enhance its capabilities and delivery. Going forward, we will continue to create value for our customers and deliver growth for our shareholders with a razor-sharp focus on technology innovation, global expansion, and deep customer engagement.”