Sterlite Technologies Ltd. share price target and research reports

Name: Latest research reports of Sterlite Technologies Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Sterlite Technologies Ltd.
Rating: 3
Author: ICICI Securities Limited

Latest analyst research reports with target prices and PDF download for STLTECH, BSE:532374 Sterlite Technologies Ltd.

Sterlite Technologies Ltd.

13 May 2020

95.64

-0.69%

Sterlite Technologies

Hold: Sterlite Technologies Ltd.

Target

ICICI Securities Limited

STL indicated that global fibre demand declined 7% YoY in 2019 (from 511 mn fkm to 477 mn fkm), on account of China slowing down after a massive 4G build. Globally most telcos have taken a capex pause and are delaying their investments. Hence, overall global fibre demand is expected to decline by 4.5% in 2020. Once the 5G investment cycle starts, demand is likely to pick up from H2FY21, with expected growth cycle of eight to 10 years. STL has decided to push the capacity expansion of OFC by six to nine months given the Covid-19 led disruption and demand challenge. The company...

Sterlite Tech has lost -17.45% in the last 1 Month

Sterlite Technologies Ltd.

16 Jan 2020

95.64

-0.69%

Sterlite Technologies

Hold: Sterlite Technologies Ltd.

Recommendation

ICICI Securities Limited

STL indicated that global OFC demand came down in 2019 as China and India witnessed 13% and 29% de-growth, respectively, while North America & Europe were up 4% YoY. The company expects a demand and pricing recovery from H2FY21E onwards and has guided for an improvement in performance sequentially driven by strong services revenues and foray into new geographies. We lower our revenue forecast for FY20 to ~9% and expect FY21 revenues to witness a spurt (up 18% YoY) with new market foray that will improve capacity utilisation as well as continued network...

Sterlite Technologies Ltd. is trading below all available SMAs

Sterlite Technologies Ltd.

25 Oct 2019

95.64

-0.69%

Sterlite Technologies

Sell: Sterlite Technologies Ltd.

Recommendation Target

ICICI Securities Limited

Sterlite Tech's performance for Q2FY20 was muted on the EBITDA front while it was weak on the PBT front given the higher depreciation and interest charges from the new optical fibre (OF) capacity that has yet to witness volume offtake. Revenues came in at | 1,360 crore, up 25.4% YoY, led by services revenues (forming 50% of topline) while product revenues were down ~16% YoY on account of demand challenges and pricing pressure. EBITDA came in at | 288.5 crore aided by slightly higher revenues. Reported EBITDA margins came in at 21.2%, a decline of 400 bps YoY. We highlight...

Sterlite Technologies Ltd. is trading below all available SMAs

Sterlite Technologies Ltd.

19 Jul 2019, 12:00AM

95.64

-0.69%

Sterlite Technologies

Hold: Sterlite Technologies Ltd.

Recommendation

ICICI Securities Limited

Sterlite Tech reported an in-line topline performance (~63% YoY growth) in Q1FY20 driven by strong domestic revenues (~64% of pie), which witnessed a staggering ~87% YoY growth. Exports revenues, on the other hand, forming 36% of revenues, grew 33% YoY. Reported EBITDA margins came in higher at 22.6% (vs. our estimate of 19.5%) given the higher proportion of product revenues that command superior margins. PAT came in lower at | 141.4 crore (vs. our expectation of | 151.2 crore) despite higher EBITDA, on account of higher depreciation and interest costs owing to...

Sterlite Technologies Ltd. is trading below all available SMAs

Sterlite Technologies Ltd.

25 Apr 2019

95.64

-0.69%

Sterlite Technologies

Sell: Sterlite Technologies Ltd.

Recommendation Target

ICICI Securities Limited

Services & solution share in revenues to expand The company indicated that services and solution segment contribution increased to ~37% of topline in FY19 (vs. ~26% in FY18) given the superior execution in the Navy and other services projects. We also note that of the total order book of | 10,516 crore, services order book is ~| 5,000 crore, which, as per management, is likely to contribute to ~50% of the topline, in the next couple of years. Therefore, we raise our revenue forecast for FY20 and FY21E by ~9% & 16%, respectively, to build in superior execution in the...

Sterlite Tech has lost -22.85% in the last 3 Months

Sterlite Technologies Ltd.

18 Mar 2019, 12:00AM

95.64

-0.69%

Sterlite Technologies

Hold: Sterlite Technologies Ltd.

Recommendation Target

ICICI Securities Limited

The demand outlook for OF/OFC is strong, notwithstanding, recent pricing pressure, riding mainly on 5G, FTTx expansion and government initiatives for digital connectivity. However, the Chinese incident reflects the underlying lack of pricing power or commodity nature of the industry. With China's huge market share of ~50% in OF demand, the rub-off effect of pricing in other geographies cannot be ruled out. Moreover, huge capacity addition across the globe clouds the overall pricing outlook for OF/OFC. Therefore, we cut our revenue estimates for H2FY20 and FY21....

Sterlite Technologies Ltd. is trading below all available SMAs

Sterlite Technologies Ltd.

25 Jan 2019

95.64

-0.69%

Sterlite Technologies

Buy: Sterlite Technologies Ltd.

Target

ICICI Securities Limited

Sterlite Technologies' (STL) revenues came in at | 1334.9 crore, up 59.8% YoY, ahead of our expectation of | 1155 crore. Services formed ~30%+ (vs. 25% in Q2FY19) of the topline, with remaining...

Sterlite Tech has lost -17.45% in the last 1 Month

Sterlite Technologies Ltd.

14 Dec 2018

95.64

-0.69%

SOTL has corrected 25% from its peak last month. Investors are concerned about three thin...

Buy: Sterlite Technologies Ltd.

Target

Emkay

SOTL has corrected 25% from its peak last month. Investors are concerned about three things: 1) a fall in spot optic fiber (OF) prices; 2) a slowdown in OF orders from China Mobile in 2018; and 3) any delay in 5G rollout globally. We spoke to SOTL management and found that it is confident on achieving the USD100m net profit target by FY20E. We maintain our Buy rating as we do not see any risk to our FY19-21 earnings forecasts amid rising data consumption globally. Stock is available at 16.3x PER/9.4x EV/EBITDA FY20E. The ongoing proliferation of data networks should keep the demand for SOTL's products/services intact. In addition, China contributes just 10% to SOTL's sales now....

Sterlite Technologies Ltd. is trading below all available SMAs

Sterlite Technologies Ltd.

26 Nov 2018

95.64

-0.69%

Pick of the Week:26 NOV 2018

Buy: Sterlite Technologies Ltd.

Target

Axis Direct

Number of FII/FPI investors increased from 133 to 147 in Sep 2025 qtr.

Sterlite Technologies Ltd.

25 Oct 2018

95.64

-0.69%

Sterlite Technologies

Buy: Sterlite Technologies Ltd.

ICICI Securities Limited

Revenue came in at | 1084.3 crore, up 39.1% YoY, much ahead our expectations of | 962.8 crore. In terms of revenues breakup, product formed ~75% of the topline, with remaining being services. Exports formed 45% of the overall revenues. The revenues were boosted by...

Sterlite Tech has lost -17.45% in the last 1 Month

Is Sterlite Technologies Ltd. worth buying?

844 Votes:

Buy 84.24%

Sell 7.7%

Hold 8.06%