Sterlite Technologies posted its Q1FY22 earnings. The performance got impacted due to second wave of COVID-19 especially on the project execution, said Anand Agarwal, Group CEO at Sterlite Technologies, in an interview with CNBC-TV18.

“Our manufacturing business across the globe went off pretty normally. We saw a quarter-on-quarter (QoQ) business on the optical, manufacturing and products business. The services business is now coming back to normal and we should be seeing a more normalized QoQ growth in both these businesses,” he added.

The company is seeing a great degree of momentum in terms of demand.

On orderbook, he mentioned, “Out of 11,000 crore, we still have Rs 4,500 crore, which will definitely get executed in the current year and there will be more addition during the year. About Rs 7,000 crore will be carried over to the next year.”

He believes, the orderbook towards the end of the year should be significantly higher than the current number. “We are seeing great degree of momentum coming in especially other than the traditional players which is telecom companies, government, we are seeing great investment in infrastructure assets also coming in from private equity investors. We are seeing a great degree of capital liquidity in this sector,” he explained.

The company has the capability of creating fibre-based digital networks. “We find Clearcomm does exactly the same thing in UK with revenues of about 20 million pounds. So, we see great degree of potential to scale that up. The addressable market is pretty large. The clear plan is to address this large one-billion pound annual market in UK,” he shared.

The company has guided that from current annual run rate of Rs 5,200 crore, Q4FY23 annual revenue run rate will be Rs 10,000 crore. “Within six-seven quarters we are looking at almost doubling our revenues from the current levels,” he said.

For the full interview, watch the accompanying video.

(Edited by : Dipika Ghosh)

First Published:Jul 23, 2021 11:59 AM IST