Sterlite Technologies reports robust PAT growth, stock dips

Sterlite Technologies' consolidated revenue for the quarter came in at Rs. 847 crore, registering 19.8 per cent yoy increase. Exports contributed 54 per cent of the total revenue of FY18 as against 37 per cent in FY17. 

EBITDA for the quarter rose by 16.2 per cent yoy to Rs. 760.3 crore with a corresponding margin contraction of 280 bps. This was due to lower cost of material consumed in proportion to sales. EBITDA margin for the quarter stood at 89.8 per cent.

The PAT for the quarter came in at Rs. 112 crore, yoy increase of 75 per cent. 

For the fiscal year 2018, revenue increased 23.6 per cent yoy to Rs. 3,205 crore. EBITDA for full year rose 17.7 per cent to Rs. 2,416 crore, while EBITDA margin declined by 370 bps to 75.4 per cent. Notably, the net profit surged 66.2 per cent yoy to Rs. 334 crore.

Company’s order book stood at an all-time high of Rs. 5,223 crore. Net D/E improved in FY18 (0.7x) compared to FY17 (1x).

However, even after posting strong PAT growth, the stock of Sterlite Technologies fell and closed for the day at Rs. 337, down by 5 per cent.