Pune (Maharashtra) [India], July 22 (ANI/PRNewswire): STL (NSE: STLTECH), an industry leading integrator of digital networks, today announced financial results for the first quarter ended June 30, 2021.
The company recorded a strong cumulative order book of over Rs. 112 billion and revenue of Rs. 13.09 billion, backed by solid technology solutions and foundational capabilities.
Significant progress on focused global capability build strategy
To cater to the three network build cycles of 5G, FTTx and Rural broadband, STL continues to make consistent efforts to scale-up its global capabilities and develop industry-leading technology solutions. The company's three growth levers - Globalise system integration, Grow optical business, and Build disruptive wireless solutions - are now yielding results.
Globalise System Integration
Strategic acquisition in Europe - STL today announced that it will acquire Clearcomm Group - a leading Network Integration company in the UK to further globalise its system integration business. The combined capability of STL and Clearcomm will enable the company to greatly contribute towards 'Project Gigabit'. This move combined with the existing data centre integration capabilities will further augment STL's presence in network integration in UK and Europe
During the quarter, STL also received its first FTTx orders in the UK for its network integration services business
Grow Optical Business
Capacity enhancement to 42 Mn fKm with Investments in US and UK - Committing Rs. 2 billion investments to establish optical fibre cable manufacturing and R&D labs in the UK and US. Through these plans, the company confirmed its plans to increase the OFC capacity to 42 Mn fKm, from an existing 33 Mn fKm
Leveraging Optical Interconnect capabilities - With the acquisition of Optotec earlier this year, the company's portfolio for end-to-end FTTx has opened up a total optical solutions addressable market of US$ 18 billion
Successful field trials for Programmable FTTx - The company crossed a significant milestone by successfully integrating its pFTTx solution in the live broadband access network of Chunghwa Telecom
Build disruptive, wireless solutions
Recognized for leading technology solutions: STL has been acknowledged by Gartner as a global 5G RAN vendor, and as an Enabler in the Digital Marketplace and OSS/BSS Telecom customer software solutions
Research and Development efforts: The company has committed 3-4% of its revenues towards R&D for research and innovation in optical and wireless technologies
As global trends re-energize, STL has been delivering on its financial plan. The company has demonstrated improvement across all financial metrics.
Financial highlights (in Rs. billion)
Delivered responsibly, with strong ESG focus
During the tough second wave of Covid-19, STL continued to maintain a strong focus on ESG. The company's CSR initiatives positively impacted over 180,000 lives. STL's environmentally conscious efforts were recognised widely across the Asian Leaders Awards for Waste Management and Best Corporate Responsibility Practices.
Explaining these strategic moves and achievements, Dr. Anand Agarwal, Group CEO, STL, remarked, "During the current unprecedented times, STL continues to provide support in the form of extended services and stronger connectivity to our community and customers. We take pride in solving our customers' challenges through our global end-to-end solutions." He added, "In anticipation of the shifts in the industry, STL has continued to strengthen its technology capabilities through investment in developing ecosystems and hiring top industry talent. As we increase our participation in our customers' digital transformation, we have built a healthy order book, and are confident of delivering the most advanced digital networks for our customers."
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