IANSHINDIICICI Direct has buy call on with a target price of Rs 220. The current market price of Sterlite Technologies Ltd. is Rs 177.35. Time period given by analyst is 1 year when Sterlite Technologies price can reach defined target.
Sterlite Technologies, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 7101.25 Crore) operating in Cables sector.
. key Products/Revenue Segments include Income from Project Development, Cable Telephone System (CTS), Software Products, Sale of services, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1797.00 Crore, up 13.73 % from last quarter Total Income of Rs 1580.00 Crore and up 18.71 % from last year same quarter Total Income of Rs 1513.77 Crore. Company has reported net profit after tax of Rs 38.00 Crore in latest quarter.
The company’s top management includes Mr. Anil Agarwal, Mr. Pravin Agarwal, Dr. Anand Agarwal, Mr. Ankit Agarwal, Mr. Sandip Das, Ms. Kumud Srinivasan, Mr. S Madhavan, Mr. B J Arun. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 30-06-2022, the company has a total of 40 Crore shares outstanding.
Investment Rationale
The company is uniquely positioned to benefit from 5G/ FTTH deployment cycle both domestically and globally. The brokerage believes that with renewed focus on ramping down/exiting loss making segment and focussing on improving services segment profitability, Sterilte will likely see improvement in earnings momentum ahead. Thus, it upgraded the stock to BUY from HOLD earlier.
Promoter/FII Holdings
Promoters held 54.15 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.03 per cent, DIIs 7.16 per cent.
Sterlite Technologies, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 7101.25 Crore) operating in Cables sector.
. key Products/Revenue Segments include Income from Project Development, Cable Telephone System (CTS), Software Products, Sale of services, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1797.00 Crore, up 13.73 % from last quarter Total Income of Rs 1580.00 Crore and up 18.71 % from last year same quarter Total Income of Rs 1513.77 Crore. Company has reported net profit after tax of Rs 38.00 Crore in latest quarter.
The company’s top management includes Mr. Anil Agarwal, Mr. Pravin Agarwal, Dr. Anand Agarwal, Mr. Ankit Agarwal, Mr. Sandip Das, Ms. Kumud Srinivasan, Mr. S Madhavan, Mr. B J Arun. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 30-06-2022, the company has a total of 40 Crore shares outstanding.
Investment Rationale
The company is uniquely positioned to benefit from 5G/ FTTH deployment cycle both domestically and globally. The brokerage believes that with renewed focus on ramping down/exiting loss making segment and focussing on improving services segment profitability, Sterilte will likely see improvement in earnings momentum ahead. Thus, it upgraded the stock to BUY from HOLD earlier.
Promoter/FII Holdings
Promoters held 54.15 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.03 per cent, DIIs 7.16 per cent.
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