STL posts second consecutive quarter of growth; demonstrates commitment to new product development
PRNewswire
Mumbai (Maharashtra) [India], October 30: STL (NSE: STLTECH), a leading optical and digital solutions company, today announced its financial results for the quarter ended 30 September 2024. STL reported revenues of INR 1,413 crore and EBITDA of INR 151 crore, demonstrating healthy 16% and 63% QoQ growth, respectively.
Dynamically navigating the temporary demand softness, STL extensively focused on its key priorities of customer centricity, product innovation, and cost leadership. As a result, the company saw sales gaining momentum for the second consecutive quarter in both - Optical Fibre Cable (OFC) and Optical Connectivity (OC) portfolios. Combining its expertise in these two portfolios, STL co-developed solutions for its customers, reporting a 22% Optical Connectivity attach rate in the current quarter. STL also won its first BEAD order in the US and a large deal with Netomnia in the UK. Some other significant wins in H1 FY25 include Archtop Fiber in the US, Du Telecom in MEA, and Connexin in the UK.
"As a company, we strongly believe in the power of persistent efforts and strong fundamentals. Our deep partnerships with customers, approach to building cable plus connectivity solutions, and conscientious efforts on costs have started to show in our performance. As demand returns to its normal course, we are fully geared up for long-term success," said Ankit Agarwal, Managing Director, STL.
STL kept Artificial Intelligence and Data Centres at the core of its new product development charter during the first half of FY25. Progressing on its intent of entering the AI-DC segment, the company developed a strong Make-in-India portfolio anchored on its advanced Intelligently Bonded Ribbon Technology. This portfolio, inaugurated by the Hon'ble Telecom Minister at the IMC 2024, gathered interest from Data Centres and Telecom players. In addition to this, STL embedded AI into its Fibre Optic Sensing offering and also developed an AI-powered network planning tool for Bharatnet network design.
STL further accelerated its efforts in developing products that help mitigate challenges like limited duct space, speedy deployment, and easy, de-skilled installations. The company started to offer Optical Connectivity solutions (in addition to OFC) in the American market and launched an industry-leading 288-fibre Microcable with its 180-micron fibre. With these innovations, STL's patent count currently stands at 730.
STL's Global Services business swiftly progressed on demerger milestones and on the path to profitable growth, participating in all 16 packages in the Bharatnet project. STL Digital, the company's newly incubated IT services business, also moved closer to EBITDA breakeven while demonstrating excellence in digital transformation across mining, manufacturing, healthcare, and more.
Taking the power of digital technologies to the rural areas of India, STL's Roboedge - a rural skilling program on robotics and AI, produced 12 national champions who will represent India in the International Robotics Championship in Estonia.
Financial highlights (INR Cr)
About STL - Sterlite Technologies Ltd:
STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn | YouTube
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