Sterlite Power Transmission Limited has released updates covering the key business development, activities and financial information for the Quarter and year ending March 31, 2023.

Business Highlights for Q4 and FY23:

Here are some key business highlights for the fourth quarter (Q4) and the full fiscal year 2023-

1. Infrastructure Projects in India: Sterlite Power successfully won a significant project in Rajasthan known as 'Part G,' valued at approximately INR 1,500 Crores during Q4.

2. Infrastructure Projects in Brazil : In 2023, the company completed four projects, and in Q4, two of these became operational:

A) Solaris II was energized in January '23, which was 9 months ahead of schedule.

B) Goyaz, including SS Barro Alto SVC, was energized in February '23.

3. Order Wins In the last quarter of FY'23, our company secured new orders worth Rs. 1,438 Crores in our Products, MSI, and Convergence business units.

4. Capital Funding In March 2023, the Company successfully obtained a debt funding of Rs. 1,318 Crores from Power Finance Corporation (PFC) Ltd for our GTTPL project. The Company is currently working on securing equity capital from a large Sovereign Wealth Fund (SWF) for itse 'Infra' business unit.

5. Awards & Recognition The Company got 'The Power Transmission Company of the Year' award at the 'Economic Times Energy Leadership Summit 2023.' The company has been also honored as one of India's top 50 companies, earning a spot on the prestigious Great Mid-Size Workplaces list by Great Place to Work. The snapshot of the company's consolidated financials (incl. Brazil business) for the year ending March 31st, 2023 is as follows:

1. Total Income - Rs. 6,297 Cr This figure represents the total revenue earned by the company in the financial year ending on March 31st, 2023. It encompasses all the money generated from the company's various business activities during that period.

2. EBIDTA - Rs. 1,150 Cr In this case, it indicates that the company earned Rs 1,150 Crores before accounting for interest expenses, depreciation, taxes, and amortization during FY23.

3. PAT - Rs. (33) Cr PAT stands for Profit After Tax. In this instance, the company experienced a loss of Rs 33 Crores in FY23, which is a significant decline compared to the previous year. The company's FY23 financial performance was negatively impacted by a one-time provision in the Brazil project and higher short-term borrowing costs in Brazil. These factors led to a 15.1% decrease in EBIDTA and a substantial 107.5% increase in losses (PAT) compared to the previous fiscal year. According to Mr. Pratik Agarwal, Managing Director (MD) of Sterlite Power, “With continued focus on garnering new opportunities and operational efficiencies, Sterlite Power is happy to report remarkable progress and achievements in the last quarter and financial year 2023."

Future Outlook

1. CTU ISTS Rolling Plan 2027-28 (India): By 2027-28, India plans to add 41,255 ckm of transmission lines and 3,84,925 MVA transformation capacity, costing Rs 2,23,954 Cr, impacting the order book for Infra and Products businesses.

2. FY24 Transmission Projects (India): In FY24, 5 TBCB bids worth Rs 8,420 Cr have closed, 23 more bids worth ~Rs 52,089 Cr are in progress, and 16 TBCB tenders worth ~Rs 75,909 Cr are approved for the next 12-18 months.

3. MSI Business Growth (India ): MSI business has been growing at a 17% CAGR, expecting significant orders for transmission network updates in FY24 & FY25.

4. MBiT Report 2023 (India): Data traffic in India has increased 3.2 times in five years. 5G applications will drive further data growth, creating opportunities in OPGW fiber infra leasing.

5. Brazil Electricity Transmission Plan (POTEE): Brazil plans to invest BRL 56 billion ($11b) for power transmission networks in the northeast region, mainly through PPP. https://unlistedzone.com/shares/sterlite-power-transmission-limited-share-price-buy-sell-unlisted-shares-of-sterlite-power-transmission/