Sterlite Technologies Ltd. share price target

Revenues came in at | 876.9 crore, up 17.8% YoY, slightly ahead our expectations of | 871.1 crore. In terms of revenue breakup, product formed ~77-78% of the topline, with the remaining being services....

ICICI Securities Ltd | Retail Equity Research Sterlite Technologies (Sterlite) has announced the signing of definitive agreements for acquisition of a European specialised optical fibre cable manufacturer Metallurgica Bresciana S.p.A (Metallurgica) in all cash deal for the total consideration of Euro 47 mn (| 367 crore), to be funded by...

Revenues came in at | 846.6 crore, up 19.7% YoY, slightly below our expectations of | 866.6 crore (22.6% YoY growth). The key driver of revenue growth continued to be exports, which formed ~60% of the...

The first phase of ongoing 50m KM capacity expansion will be completed by Dec'18. Optic fiber cable production is also ramping up with strong export sales. We see SOTL as a pure play on data consumption with clear business moat and high...

SOTL was announced lowest bidder a year ago. But was negotiating with the government for better terms. Government had to increase its budget allocation for this contract. We are bullish on SOTL's optic fiber business (75% of revenue). The capacity expansion...

GE T&D;'s Q3 order inflow was lower 30% YoY to Rs 7.8 bn and order backlog was down 12% YoY to Rs 72 bn. Company won major orders from Sterlite Power and Gujarat Transco during Q3.

Sterlite Technologies (SOTL) reported Q3 sales of Rs 8.3 bn, up 14% YoY. 60% of revenue came from exports (mostly China and Europe) which grew 78% YoY. EBITDA margin expanded ~500 bps to industry best of 24% on higher mix of product revenue

EBITDA came in at | 209.5 crore (I-direct estimate: | 187.7 crore), with EBITDA margin of 24.1%, ahead of our estimate of 21.8%. The EBITDA beat was largely led by superior product segment growth,...