- Establishes new base for optical business in the US with orders of ~Rs 3 Bn
- Establishes new revenue stream of Optical Interconnect with orders worth ~Rs 7 Bn
MUMBAI, India, Jan. 19, 2022 /CNW/ -- STL (NSE: STLTECH), an industry leading integrator of digital networks, announced its financial results for the quarter ended December 31, 2021. With its focused global expansion strategy, STL reached a robust order book of Rs 117 Bn and recorded revenues of Rs 13.6 Bn.
Over the past few quarters, STL took some bold bets to drive aggressive growth in this decade of network creation. The company affirmed that many of its strategic investments have converted into large scale revenues and new technologies have become market ready. At this pivotal point in its journey towards scalability, STL inducted global business builders as CEOs for its Optical, Wireless, Services and Software businesses. STL also charted its course for becoming a Net-Zero company by 2030, and launched an integrated 5G offering to cater to the global demand.
Strategic investments turn revenue generating:
Optical Interconnect delivers big revenue - STL made great headway in this new product line of Optical Interconnect, winning multi-year contracts across Europe, cumulatively valued at over ~Rs 7 Bn. The company also expanded its footprint in the US with 5G-ready optical products, winning new orders to the tune of ~Rs 3 Bn
System Integration scales in the UK - The company also took some strides in its Integration business as it ramped up its UK talent base to more than 150 employees and 20 strategic partners. This greatly enhances STL's fibre deployment capabilities in the UK
New markets deliver greater traction - With its global expansion strategy, STL grew its business in its focus markets with ~41% coming in from Europe and Middle East and ~12% from Americas
New technology ventures ready to scale:
5G portfolio becomes market-ready - 5G Wireless solutions, which opened up a target addressable market of $5 Bn for the company, made significant progress in this quarter, to reach closer to revenue generation. This quarter saw the company announcing General Availability for its Indoor small cells (Garuda) and programmable FTTx offering. STL also won a pilot order for its indoor small cells with ASOCS and ramped up its radio engineering talent to more than 300 people
Since the past several quarters, STL has been gravitating towards an integrated solutions model. This strategy is now showing results as the company clocked integrated orders with optical solutions and deployment with key players across the UK and India. While delivering on these strategic pillars, STL continued to build intellectual property across businesses. The company filed 41 new patents this quarter, taking its global patent count to 678.
Key financial highlights Q3'FY22 (Rs Bn.)
Order Book: 117
Excited about this decade of network creation, Ankit Agarwal, Managing Director, STL, remarked, "With some fundamental strategic shifts, STL is rapidly progressing towards its ambition of building future-ready digital networks globally. We have brought together a highly ambitious and credible leadership and deep technology expertise across optical and wireless networks. We are confident that, in the near future, we will deliver the most advanced solutions in the areas of 5G, FTTx and rural connectivity and transform billions of lives through digital networks."
STL is an industry-leading integrator of digital networks that helps telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers.
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SOURCE Sterlite Technologies Ltd. (STL)
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