Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd), India's only integrated optical fiber manufacturer and global provider of Telecom Cables and Power Transmission Conductors today announced that it is among the winners of the 'Deloitte Technology Fast 50 India Award' for the third consecutive year.
Deloitte's Fast 50 India Program, conducted by Deloitte Touche Tohmatsu Asia Pacific, recognizes the 50 fastest growing technology companies in India, based on their percentage revenue growth over the last three financial years. Sterlite's net revenues increased to INR 1198 Crores (US$ 265 Million) in FY 2006-07, up from INR 547 Crores (US$ 122 Million) & INR 327 Crores (US$ 65 Million) in FY 2005-06 & FY 2004-05 respectively.
Sterlite accords a very high importance to development of its Intellectual Property portfolio, in-house Research and Product Development. The Company has been granted 12 patents for Optical Fiber product and process innovations in USA, European Union, China & India. Over the past 3 years, Sterlite's Product Development Team has developed 17 products designed for evolving Telecommunications Standards and network applications.
Sterlite was awarded the ELCINA Award for Research and Development in 2006. The Company received this prestigious honor for its invention of Low Water Peak Optical Fiber (Sterlite OH-LITE™) that is specifically designed to increase the transmission capacity of the Optical Fiber.
Participants in the Deloitte Technology Fast 50 India program automatically qualify for participation in the Deloitte Technology Fast 500 Asia Pacific 2007 program, which annually recognizes the 500 fastest growing technology companies in Asia Pacific. Sterlite has once again been named among the winners for the 'Deloitte Technology Fast 500 Asia Pacific Award'. The award ceremony is scheduled at Hong Kong in December 2007.
Says Mr Pravin Agarwal, Director - Sterlite Technologies Limited, "With the technological edge that Sterlite has by virtue of being a fully integrated manufacturer, Sterlite would continue to develop solutions to meet the evolving needs of the Telecom and Power Sectors. We intend to sustain this momentum and are using innovative partnerships to increase our global presence. We thank Deloitte for this recognition and appreciate its effort in encouraging Indian companies to drive growth and value for our stakeholders."
About Sterlite Technologies Limited
Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is India's only and leading global provider of Optical Fibers, Telecommunication Cables and Power Transmission Conductors. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.
Sterlite Technologies Limited is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkatta.
The Company has a world class Optical Fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa, Haridwar & Pune, India.