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Sterlite Optical: Fibre fuels growth - Views on News from Equitymaster
 
 
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  • Nov 3, 2000

    Sterlite Optical: Fibre fuels growth

    Sterlite Optical Technologies (SOT) has reported its maiden quarter results. The company has shown strong topline growth on the back of healthy optic fibre (OF) and optic fibre cable (OFC) demand. Optic fibre business contributed 61% of the revenues, up from 35%.

    (Rs m) 1QFY00 1QFY01 Change
    Sales 1,315 2,046 55.6%
    Other Income 1 14 1154.5%
    Expenditure 899 1,274 41.8%
    Operating Profit (EBDIT) 416 771 85.4%
    Operating Profit Margin (%) 31.6% 37.7%  
    Interest 89 116 29.7%
    Depreciation 46 48 4.3%
    Profit before Tax 282 622 120.4%
    Tax - 50  
    Profit after Tax/(Loss) 282 572 102.7%
    Net profit margin (%) 21.5% 27.9%  
    No. of Shares (m) 55.9 55.9  
    Diluted Earnings per share* 20.2 40.9  
    P/E Ratio   24.1  
    *(annualised)      

    The operating profits have jumped sharply. The rise is primarily driven by an increase in OPM, which increased by 610 basis points. Margins may continue to remain healthy as these are early days of optic fibre in the country. The company plans to augment its optic fibre capacity from 1 m fibre kilometers (Fkm) to 3 m Fkm.

    At Rs 984 the company is trading at a multiple of 24.1 on 2QFY01 annualised earnings.

     

     

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