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FY 2013, in More Ways Than One

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FY 2013, in More Ways Than One STERLITE TECHNOLOGIES LIMITED ANNUAL REPORT 2012-13 sterlitetechnologies.com Volume - 13 EVERY HOME ON THE PLANET The Power of SUSTAINABLE CONNECTIVITY FEATURE STORY: LEADER SPEAK: PROFIT BY NUMBERS FROM THE CHAIRMAN’s dESK Leader Speak STERLITE TECHNOLOGIES LIMITED From the Chairman’s Desk .....................................................................................1 ANNUAL REPORT 2012-2013 Business Highlights sterlitetechnologies.com REgiSTERED OfficE: The Year That Was... .....................................................................................2 Survey No. 68/1, Rakholi Village, Madhuban In the News .....................................................................................3 Dam Road 396 230, Union Territory of Dadra & Financial Highlights Nagar Haveli, India. Delivering Growth Through Excellence ......................................................................4 LOCATIONS: China, India, Netherlands, Russia, South Africa, Business Performance Turkey, United Arab Emirates, United Kingdom, United States of America, Vietnam. Letter to the Shareholders .....................................................................................6 BOARD OF DiRECTORS: Case Study Anil Agarwal, Arun Todarwal, A. R. Narayanaswamy, Google Apps for Business ...................................................................................32 Haigreve Khaitan, C. V. Krishnan, Pravin Agarwal, Anand Agarwal, Pratik Agarwal. Model Village Development: Towards a Sustainable Future ................................... 34 ChiEF FinAnciAL OfficER: Anupam Jindal Expert Opinion COMPANY SECRETARY: Sandeep Deshmukh Fiber Connectivity Evolution: Perspectives from the Indian Market ..................... 36 Creating a Collaborative Ecosystem: Indian T&D Sector ....................................... 42 MANAGEMENT COmmiTTEE: Pravin Agarwal (Whole-time Director), Anand Agarwal Next Generation Access Networks: An Enabler of Converged Infrastructure ........ 44 (CEO & Whole-time Director), Anupam Jindal Leadership (CFO), K. S. Rao (COO – Telecom Business & Power Conductors), Pratik Agarwal (Head – Infrastructure Board of Directors .................................................................................. 48 Business), Prasanth Puliakottu (CIO), Executive Committee .................................................................................. 50 Pankaj Priyadarshi (CCO), Ajay Bhardwaj (COO – Grid Business), Vijay Jain (COO – Networks Business), Reports Ankit Agarwal (Global Head-Telecom Business), Director’s Report .................................................................................. 52 Rajendra Mishra ( Head – Power Cables), Corporate Governance Report ................................................................................ 59 Kamal Sehgal (Leader – Business Excellence), Risk Management .................................................................................. 70 Vimal Malhotra (Head – Human Resources). Feature Story AUDITORS: S. R. Batliboi & Co. LLP Auditor’s Report (Standalone) ............................................................................... 73 BANKERS: Financials (Standalone) .................................................................................. 76 Axis Bank, Bank of Baroda, Bank of Maharashtra, Citibank, Corporation Bank, EXIM Bank, HDFC Bank, Auditor’s Report (Consolidated) ...........................................................................115 ICICI Bank, Kotak Mahindra Bank, Oriental Bank of Financials (Consolidated) .................................................................................116 Commerce, State Bank of India, Union Bank, Resources Yes Bank, Deutsche Bank. Sterlite Blog ................................................................................ 150 REgiSTRAR & TRANSFER AGENTS: Karvy Computershare Private Limited, Unit – Sterlite Book Review .................................................................................151 Technologies Limited, Plot No. 17 to 24, Vittalrao Nagar, Madhapur, Hyderabad – 500081, Andhra Pradesh, India. Phone: +91.40.23420818/828. Fax: +91.40.23420814. The Power of Numbers that E-mail: [email protected] 8 Sustainable Connectivity 26 matter... FORWARD-LOOKing & CAUTIONARY STATEMENT: Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies’ expected financial position, business strategy, the future development of Sterlite Technologies’ operations and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies’ present and future business strategies and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies’ industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies’ control, include, but are not limited to, those risk factors Transmission Line Route discussed in Sterlite Technologies’ various filings with the National Stock Exchange, India and the Bombay Stock Optimisation using Exchange, India. These filings are available at: 28 40 LiDAR survey & PLS CADD www.nseindia.com and www.bseindia.com. LEADER SPEAK From the Chairman’s desk Over the past 30 years, I have witnessed fluctuations in business cycles, a structural shift in economies, and epicenters of At Sterlite, we realise this underlying As a company, we remain highly growth changing. In all this, my underlying need for connectivity in an increasingly sensitive to the needs of the society belief that ‘Growth is integral to human integrated world, and sense that this and environment and continue to take evolution and will always be a perpetual perpetual phenomenon will continue to initiatives to bring sustainable change in phenomenon’ has always been reinforced increase the per capita consumption of the lives of people around us. In FY 2013, in more ways than one. For instance, in bandwidth and energy. In our journey of we made several important strides in the year gone by, even amidst looming more than a decade, I believe that our community environmental stewardship political challenges and economic risk, company’s successes have come from and we gave equal impetus to the ongoing we recorded a global GDP growth of recognising and capitalising on market CSR activities that promote our social approximately 3.2% . While there would transitions before they occur. advancement cause. be disparities regionally on account of Our goal is to capture these market growth rate, where economies across the transitions as per applications desired by Outlook world would showcase different levels of our customers, and by investing in major maturity during any given interval of time, A nation of smart buildings, high-speed technologies and markets, that would play the human mind would never rest and will transportation, clean energy, light- a crucial role in the future of power and always be propelled to evolve and grow speed communications and sustainable Telecommunications industry. We continue continually. architecture are all within our reach to drive our business through scaling of now. And, the key to this more efficient With this growth comes an even greater volume, enhancement of our global client and productive future is in sustainable need to focus on innovation and footprint, stringent focus on costs and technologies. While this will create a technologies. Mobility and connectedness advances in technology. better, long-lasting and more sustainable will be at the heart of future business infrastructure, it will also benefit both the environment, with communications shifting economy and the environment. from focused one-to-one relationships, to many-to-many. In such a scenario, I believe that our Going forward, Sterlite will continue to a well-developed communications company’s successes develop a green and sustainable high- infrastructure network is a prerequisite for speed data and energy transmission the access of less-developed communities have come from infrastructure that will have a huge, to core economic activities and services. recognising and positive impact on our economy and the Economies equally depend on electricity environment. supplies that are free of interruptions capitalising on market and shortages, and increasingly transitions before they generated from renewable sources, so that businesses and factories can work occur. unimpeded. In this regard, it is imperative Going stronger year on year, following to develop an extensive energy and data our vision to “Connect every home on the transmission network, which will allow planet”, we continue to refine our global Anil Agarwal rapid and free flow of information.
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