Rapid digitisation fuelling market demand in India, overseas amid pandemic: Sterlite Technologies

By: |
June 20, 2021 3:53 PM

The company also hopes to expand its scope of operations, in certain downstream location, closer to customers and market, and those plans are expected to take shape this fiscal.

STL, Clearcomm acquisitionClearcomm is a privately held company that provides end-to-end network integration solutions and capabilities in the UK.

Digital networks integrator Sterlite Technologies Ltd has said that rapid digitisation is fuelling demand for solutions, both in India and overseas, despite the COVID pandemic.

Sterlite Technologies Ltd (STL) Group CEO Anand Agarwal said running operations in the backdrop of pandemic gives the company confidence that processes have been strengthened to the extent that it is now better prepared to navigate through the situation on ground.

STL further indicated that it is planning solution hub — involving some element of downstream manufacturing and assembly — closer to its customers although modalities for the same are yet to be worked out.

Asked about the business impact of recurring waves of infections sweeping across nations, Agarwal said: “From client side we had lesser issues. The demand continues to be strong because people continue to see a shift happening towards digital”.

In India, he said, the demand scenario remains strong when it comes to Indian telcos and ecosystem. The same is the case with the overseas markets like the US and Europe, where clients are looking for faster deployment of solutions, as economies open up.

While the factory operations did not feel much of an impact this time, there was a bit of bump on the project execution front in April and May on account of curfews and lockdowns, although that too has now entirely recovered since June, Agarwal said.

“The demand is extremely strong and all our factories, fibre, cable, interconnect etc are running at capacity in India as well as globally. We are doing what is required to be done for the business, and at the same time being very vigilant, not allowing any complacency to set in,” he told PTI.

With its portfolio spanning optical fibre and cables, network design and deployment as well as network software, Pune-based STL positions itself as an integrated solutions provider for global data networks, with optical preform, fibre and cable manufacturing facilities in India, Italy, China and Brazil.

Agarwal said running operations amid pandemic has given company the confidence that robust business continuity strategy would be crucial in minimising operational impact, to the extent possible.

“We are better prepared, have a very strong business continuity team, strong health awareness and vaccination team. We have robust data team where supply chain, data management and risk assurance, all these processes have become extremely strong, so that the business impact to whatever extent it is there, to the degree possible, it minimises,” Agarwal said.

The company also hopes to expand its scope of operations, in certain downstream location, closer to customers and market, and those plans are expected to take shape this fiscal.

“As an organisation we are becoming more global in terms of sales…it is happening across board…fibre and cable, system integration, wireless…The focus for us as a company is becoming much more global…so these centres of operations are also going to come up globally for us,” he said.

He further noted: “We are creating these solution hubs closer to the customer.”

This will be on the lines of solution assembly shops, involving some downstream manufacturing and putting entire solution together at one place, close to customers, Agarwal said but did not offer details.

Sterlite Technologies had posted a 55 per cent year-on-year jump in consolidated net profit for fourth quarter ended March 2021 at Rs 124.4 crore, on the back of rising revenue. The revenue rose to Rs 1,475 crore in the said quarter, marking a 27 per cent growth over the year ago period.

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