In an interview to CNBC-TV18, Anand Agarwal CEO & Director of Sterlite Technologies, said the company has already invested around Rs 130-140 crore in the business and Viscas is coming in as an equal partner and will provide a certain premium to the JV.
Business vertical will require additional investments in FY16
Anand Agarwal
CEO
Sterlite Tech
As part of this JV agreement, Viscas Japan will invest into the existing power cable facility of Sterlite in Haridwar which is already serving the MV/HV power cables customers in India.
In an interview to CNBC-TV18, Anand Agarwal CEO & Director of Sterlite Technologies, said the company has already invested around Rs 130-140 crore in the business and Viscas is coming in as an equal partner and will provide a certain premium to the JV.
"The JV offers potential for new cities being built up with a lot of underground cables. It complements our power transmission lines, overhead conductor business. We offer full end-to-end portfolio to the utilities in the country," he said.
Agarwal said the current market size of high voltage cables is at around Rs 500 crore, but has been growing at a rapid pace of 60-70 percent annually. He believes the JV should be doing revenues of Rs 500-600 crore in the next 3-4 years from the current Rs 100-150 crore. He expects JV transaction to close in this quarter
Sterlite Techno stock price
On October 07, 2014, at 14:12 hrs Sterlite Technologies was quoting at Rs 69.15, down Rs 2.3, or 3.22 percent. The 52-week high of the share was Rs 74.00 and the 52-week low was Rs 19.00.
The company's trailing 12-month (TTM) EPS was at Rs 0.94 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 73.56. The latest book value of the company is Rs 30.92 per share. At current value, the price-to-book value of the company is 2.24.
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