Q4 2024 Sterlite Technologies Ltd Earnings Call Transcript
Key Points
- Sterlite Technologies Ltd (BOM:532374) secured its first large orders in North America, marking significant progress in its optical connectivity business.
- The company improved its EBITDA margins in the global services business from 3.1% to 7.6% year-on-year.
- Sterlite Technologies Ltd (BOM:532374) completed its CapEx cycle with the operationalization of its US facility, positioning it to meet the demand for US-made optic fiber cable products.
- The company successfully completed an INR1,000 crore QIP fund raise in April 2024, onboarding key institutional investors.
- Sterlite Technologies Ltd (BOM:532374) reduced its net debt by INR334 crores during FY24 through effective cash generation and divestment of holdings.
- The company experienced a significant decline in optical fiber cable sales volume, leading to a reduction in revenue for FY24.
- Quarter four FY24 EBITDA stood at INR67 crores, reflecting a challenging quarter with lower absolute EBITDA.
- The optical business faced a decline in revenue due to lower volumes, with Q4 FY24 revenue at INR777 crores and full-year FY24 revenue at INR3,830 crores.
- Sterlite Technologies Ltd (BOM:532374) reported after-tax losses of INR83 crores for Q4 and INR58 crores for the full year FY24.
- The company faced suboptimal factory utilization, with utilization levels at sub-50% during the exit quarter of FY24.
Ladies and gentlemen, good day to you, and welcome to the STL Q4 and full-year FY24 earnings conference call. I'm Chetan Wani, and I'm responsible for investor relations at STL.
We are joined by Ankit Agarwal, MD, STL; and Tushar Shroff; Group CFO, STL, to walk us through the Q4 and full-year FY24 results and to take your questions. (Event Instructions) Please note that this call is being recorded.
Before we proceed with this call, I would like to add that some elements of today's presentation may be forward looking in nature and must be viewed in relation to the risks pertaining to the business. The Safe Harbor clause indicated in the presentation also applies to this conference call.
I now hand over the call to Ankit Agarwal for opening remarks. Over to you, Ankit.
Thank you, Chetan. Good day, everyone, and thank you for joining us for our Q4 and full-year FY24 earnings conference call. As we
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