Shares of this cable stock founded by Mr. Anil Agarwal gained traction in Monday’s trading session after the company expanded its Enterprise Networking solution portfolio with the launch of a new product.
With a market capitalization of Rs 6,352.18 crores, the stocks of Sterlite Technologies Limited closed at Rs 159.20 on Monday, a flat movement as compared to the previous close of Rs 159.70 apiece.
The company, in a recent filing with the Bombay Stock Exchange (BSE) today, announced the launch of “Estelan”, an end-to-end solution for fibre as well as cable connectivity. The solution enables enterprises to modernise and digitise their large-scale network infrastructure.
The solution enables use cases like enterprise networking, multi-service premise connectivity, Intelligent building management, and many more. The company has announced that it will reach the markets in its target regions of India and MEA.
Having a look at the past couple of financial years, the company has successfully been able to increase the basic business indicators such as the operating revenues as well as the after-tax profits.
The operating revenues rose from Rs 5,437 crores during FY21-22 to Rs 6,925 crores during FY22-23, and, the after-tax profits, in congruence with the pattern, increased from Rs 147 crores to Rs 231 crores.
Coming onto the profitability ratios of the company, both, the return on equity (RoE) as well as the return on capital employed (RoCE), showed favorable movements with the former increasing from 7.55 percent during FY21-22 to 11.56 percent during FY22–23, and, the latter, during the same time horizon, moving up from 8.66 percent to 11.36 percent.
As per the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold a 54 percent stake, and the remaining stake of 46 percent in the company is held by the Public (retail) investors.
Catering to customers within and outside India, Sterlite Technologies Limited is a company based in India that is engaged in the business of connectivity as well as network solutions. Its products and solutions mainly include copper telecom cables, integrated optical fiber, access equipment, etc.
Written by Amit Madnani
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