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Sterlite Technologies books $210 million international optical cable order
The new contract will be executed over three years, and comes after the company raised ₹1,500 crore via a QIP to primarily reduce debt.
Sterlite Technologies is expected to stay in focus in India’s trading after it won a $210 million international order for high-density optical fibre cables, according to a Wednesday regulatory filing reported by LiveMint Markets.
The company said the award was made by a leading global telecom infrastructure firm, though it did not disclose the customer’s name. Execution is scheduled to run over a three-year period, and Sterlite Technologies said neither its promoters nor promoter-group entities have any interest in the awarding authority, with the transaction not qualifying as a related-party deal.
The international win follows a domestic contract on July 1, when Sterlite Technologies secured a ₹960-crore multi-year supply agreement from a telecom operator for FY28 and FY29, with an initial two-year term and possible extension by mutual agreement. Earlier this week, the company announced a ₹1,500 crore Qualified Institutional Placement, with proceeds primarily earmarked to significantly reduce debt.
Financially, Sterlite Technologies posted its highest-ever quarterly revenue of ₹1,910 crore and EBITDA of ₹397 crore in the June quarter, with year-on-year growth of 87% for revenue and 184% for EBITDA. The company also reported an EBITDA margin of 20.8%, year-on-year gains in net profit to ₹197 crore, and an order book of ₹18,618 crore at quarter end.