STL, which has been witnessing a positive outlook in markets including the US, Europe and India, is looking to develop large-scale global networks and the 5G infrastructure.
March 11, 2022
Sterlite Technologies Ltd. (STL) has announced that it expects a growth of around 20 percent in its business across key markets including the US, Europe, and India in FY23. The growth will be driven by the global scale-up of networks and 5G rollouts, says Mr. Ankit Agarwal, Managing Director, STL.
Mr. Agarwal further informs that their factories are operating at 100 percent capacity and in accordance with the necessary COVID-appropriate precautions.
Watch: Wire & Cable Industry Year Review
STL continues to look for small acquisitions in a bid to acquire niche capabilities and technology, in view of the “the market” being continually “growing and expanding”, as pointed out by Mr. Agarwal to PTI. Further, the digital network integrator company has been witnessing a positive outlook as markets like the US, Europe, and India, are engaged in creating large-scale futuristic networks, and building the 5G infrastructure.
Speaking about the growth he foresees, Mr. Agarwal affirms that they continue to believe that they see a positive market momentum towards the end of this quarter as well as going into the next year. STL says that they will sign strong orders with customers.
At present, the company has an order book of about INR 11,000 crore. It hopes to build on that “both in India but especially in Europe and the US.”
“We like to look at small companies focused on certain niche technologies or capabilities, could be anywhere in the world and the whole thought is to acquire such companies, bring those capabilities onboard and grow it multifold,” he said.
Also Read: STL associates with UK-based Netomnia for ultra-fast broadband connectivity
The past buyouts by STL are based on the approach of going for acquisitions based on niche technologies and capabilities, and the company will continue to undertake such acquisitions.
The product range of STL includes optical fibre and cables, network design and deployment as well as network software. Moreover, the company is also an integrated solutions provider for global data networks.
