Sterlite Electric Bags Rs 7,500 Cr Orders in FY25

Sterlite Electric Ltd., previously known as Sterlite Power Transmission Limited, received new orders totalling Rs 2,400 crore in the last three months of the financial year 2024-25. This brought their total new orders for the entire financial year to Rs 7,500 crore, according to the company's announcement.

Sterlite Power is a prominent player in India's power transmission sector. It builds power lines and related infrastructure. They have projects spanning approximately 12,500 kilometres in length and are capable of handling 22,719 MVA (Mega Volt Amperes) of power in India and Brazil.

The expansion of the order book highlights its strategic positioning in the evolving energy landscape.

Q4 FY24 Performance

The company said that in the fourth quarter of FY24, worth Rs 2,400 crore, culminating in a total of Rs 7,500 crore for the fiscal year. The order book spans high-performance conductors, power cables, Optical Ground Wire (OPGW), and specialised EPC services.

Notably, the company contributed to green energy transmission projects. Additionally, Sterlite Power expanded its international footprint with export orders for OPGW in Africa and the Commonwealth of Independent States (CIS) markets.

Words from the CEO of Sterlite Electric

"Our strong Q4 performance, with record order wins, reflects the growing demand for our innovative and sustainable transmission solutions. As the global energy landscape evolves, Sterlite Electric continues to lead the charge in integrating renewable energy into power grids. The significant traction from both domestic and international markets, along with our growing export presence, reinforces our position as a trusted partner for utilities and industries worldwide. We remain committed to delivering high-quality, future-ready products and services that drive the global energy transition,” said Reshu Madan, CEO, Sterlite Electric Ltd.

Recent Orders and Developments

Sterlite Electric saw significant order growth across its conductor, OPGW, and power cable divisions. Key conductor and EPC orders were driven by TBCB projects, while OPGW demand remained high from PGCIL, state utilities, and exports to Europe and the Middle East.

In power cables, the company secured orders across MV, HV, and EHV categories from metro systems, state utilities, and private distributors. Notably, it received its first international 132 kV smart cable order in Southeast Asia and the largest-ever 220 kV cable order from a private Indian utility.

Sterlite also bagged EPC contracts using ACCC technology to upgrade transmission infrastructure, boosting grid capacity and reliability.

Financial Performance

Total Income: The company increased revenue from operations from Rs 3,923 crore in FY23 to Rs 4,842 crore in FY24. This represents a 23% year-over-year (YoY) growth.

The growth was primarily driven by strong performance in the Global Products & Services (GPS) division.

Profitability: Sterlite Electric reported a net profit of Rs 322 crore in FY23 but incurred a net loss of ₹217 crore in FY24. This decline in profitability was primarily due to cost overruns and increased finance costs, especially from its Brazilian operations.

Share Price of Sterlite Electric

Sterlite Power unlisted shares are currently trading at Rs 515 per share. The company had reached a peak price of ₹975 in September 2023. However, over the past year, the share price has declined by approximately 25%.