STL Investing Rs 200 Crore to Expand Manufacturing Capability

- Advertisement -
- Advertisement -

STL also plans to continue to invest about three per cent of its annual revenue in research on areas of optical solutions and wireless solutions including 5G

Sterlite Technologies (STL) has plans to expand its optical fibre manufacturing capabilities from 33 to 42 million fibre kilometres. The company is looking to invest Rs 200 crore to expand this manufacturing.

“The last year paved the way for a decade of network creation. STL has worked towards capacity and capability enhancements through strategic investments in manufacturing, research and global talent. Our sustained investments along with deep customer engagement will definitely drive the next phase of growth that will propel us towards the annual revenue run rate of INR 10,000 Cr by the end of FY’23,” said Dr Anand Agarwal, Group CEO, STL, during an investor meet.

- Advertisement -

The company is also planning to open new facilities in UK and the US. The capacity enhancements, as per the company, will enable the extensive fibre build-outs planned across US, Europe and UK to boost rural broadband and 5G programs.

” Full Fibre will be absolutely critical to the UK. Our Full Fibre network holds the potential for enabling significant socio-economic growth for the United Kingdom. Partners like STL will help us build this network in a fast and efficient manner. Their compact and efficient designs will be extremely useful for us as we look to build the most comprehensive and green networks in the world,” said Kevin Murphy, MD for Fibre and Network Delivery at Openreach.

STL also plans to continue to invest about three per cent of its annual revenue in research on areas of optical solutions and wireless solutions including 5G. It is to be noted here that the company has recently received its first 5G patent in the US. It also has ongoing product trials at customer premises in U.S. and APAC.

The company had a 55 per cent year-on-year increase in consolidated net profit for the quarter ended March 2021 (Rs 124.4 crore). STL’s net profit stood at about Rs 80 crore in Q4 FY20 while its revenue figures were Rs 1,475 crore for the March quarter. This indicates a 27per cent year-on-year growth.

STL had announced new deals and extensions of current engagement with leading telcos in the Middle East and Africa region (MEA) in March 2021. These deals, worth more than $100 million, take STL’s order book to a record high of Rs 11,300 Crores.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Our Goal is to Offer 1000 To 1500 Varieties, With Volumes Ranging From 10000...

0
During a chat with Nitisha Dubey from EFY, Mohammed Iqbal, CEO of Technomake Electronics Pvt Ltd, talks about PCB assembly and major customer focus...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Buzz

TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Important Sectors

Microchip Technology Expands TrustFLEX Family With CEC1736 Real-Time Platform Root Of Trust Devices

0
TrustFLEX devices along with the Trust Platform Design Suite tool will simplify the enablement of root of trust from concept to production in wide...
TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...