Sterlite Technologies earlier this week showcased its plans for reaching the annual revenue run rate of Rs 10,000 crore by Q4 of FY’23 at its second Annual Investor meet, STLescope 2021.
The company has announced a 3-pronged strategy to enhance its market share to capture an addressable market across Optical and Wireless solutions and System integration.
- Growing the Optical Solutions market globally
- Globalizing its System Integration solutions across UK and Europe
- Building new disruptive technologies for its Access Solutions business
STL has made investments to build capacities and capabilities in line with the growth strategy across its focus markets.
The company plans to expand its optical fibre manufacturing capabilities from 33 to 42 million to grows it’s end-to-end optical solution Opticonn. This would include new facilities in the US and UK a total additional investment of Rs 200 crore.
The capacity enhancements will enable extensive fibre build-outs planned across US, Europe, and UK to boost rural broadband and 5G programs.
The company plans to continue to invest about 3% of its annual revenue in industry-leading research on areas of optical solutions and wirless solutions including 5G.
The company recently announced its first 5G patent in the US and with ongoing product trials at customer premises in US and APAC, STL is hoping to become a global leader in open source 5G and FTTx implementations.
Dr. Anand Agarwal, Group CEO, STL, commented: “The last year paved the way for a decade of network creation. STL has worked towards capacity and capability enhancements through strategic investments in manufacturing, research and global talent. Our sustained investments along with deep customer engagement will definitely drive the next phase of growth that will propel us towards the annual revenue run rate of INR 10,000 Cr by the end of FY’23.”