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We are guiding for a margin between 18 and 20 percent as the mix shifts towards solutions, said Anand Agarwal, Group CEO of Sterlite Technologies, on Thursday. It was a good third quarter from Sterlite Tech as profit was higher led by higher revenues and lower depreciation.
Speaking with CNBC-TV18, Agarwal said, “Our mix is now gradually changing; the mix along with products is becoming solution as well and that’s why we guided that the margins will be in the range of 18 percent and 20 percent. We believe from the second half of FY22 the revenues from wireless will also start flowing into the company.”
On Q3FY21 numbers, Agarwal said, “In Q3 year on year (YoY) we have shown 9 percent growth and quarter-on-quarter (QoQ) 13 percent growth. The second half (H2FY21) of the year is going to be better than H1FY21 and also going to be better than H2FY20.”
Agarwal also said that the order book remains strong.
“We believe we are on a path that every single quarter we will be growing between 13 percent and 15 percent. The order book is strong and the outlook continues to grow as our foray into Europe, North America continues and our portfolio is getting stronger,” he added.
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