Sterlite Technologies logo

Sterlite Technologies

STLTECH NSE

Key Fundamentals

MidcapEquipment & AccessoriesTelecom
Market Cap
₹43,837 Cr
Volatility
High Risk
P/E Ratio
180.2
EBITDA
₹628 Cr
Return on Equity
2.47%
Debt to Equity
0.86
Book Value
₹70.88
52W High
₹897.3
52W Low
₹84.6

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company is expected to give good quarter

Weaknesses

4
  • Stock is trading at 19.3 times its book value
  • Promoter holding has decreased over last quarter: -2.15%
  • The company has delivered a poor sales growth of -0.33% over past five years.
  • Company has a low return on equity of -2.74% over last 3 years.

Growth Rate

Revenue Growth
19.15% higher than 3Y
Net Income Growth
-178% lower than 3Y
Cash Flow Change
49.43% higher than 3Y
ROE
-168% lower than 3Y
ROCE
102% higher than 3Y
EBITDA Margin (Avg.)
16.59% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Sterlite Technologies Ltd, with a market cap of ₹43,837 Cr, is witnessing a sharp earnings recovery with TTM profit growth of 1,490% and TTM sales growth of 36%, but this follows a prolonged period of declining profitability and stagnant revenues. The stock trades at a PE of 181.3x and 12.09x book value, reflecting elevated valuations against a backdrop of negative 3-year ROE of -3% and near-zero 5-year sales CAGR of -0.33%.

Bull Case 7
  • TTM profit growth of 1,490% signals a strong earnings turnaround from a depressed base, indicating operational recovery is underway
  • TTM sales growth of 36% shows meaningful revenue acceleration after years of stagnation, suggesting improving demand for fibre and telecom products
  • Stock price CAGR of 643% over 1 year reflects significant market re-rating driven by improved business outlook and sector tailwinds
  • 10-year stock CAGR of 30% demonstrates long-term wealth creation capability through business cycles
  • 10-year compounded sales growth of 8% shows the company has historically been able to grow its topline over longer periods despite recent weakness
  • 10-year ROE of 11% indicates the company has historically generated reasonable returns on equity before the recent downturn
  • Company is expected to deliver a good upcoming quarter, pointing to continued near-term earnings momentum
Bear Case 8
  • PE ratio of 181.3x is extremely elevated, leaving little margin of safety if earnings recovery stalls or disappoints
  • Stock trades at 12.09x price-to-book (reported as high as 18.4x by some measures), well above sector norms for a capital-intensive telecom equipment manufacturer
  • 5-year compounded sales growth of -0.33% highlights a prolonged period of revenue stagnation, raising questions about sustainable demand
  • 3-year ROE of -3% and last year ROE of just 1% indicate the company has struggled to generate meaningful returns on shareholder equity
  • 5-year compounded profit decline of -37% and 3-year decline of -43% show a deeply eroded earnings base, making percentage recovery figures appear inflated
  • Promoter holding decreased by 2.15% in the last quarter, which may signal reduced insider confidence at current valuations
  • Dividend yield of just 0.12% offers negligible income return to shareholders relative to the risk profile
  • 10-year compounded profit decline of -16% suggests structural profitability challenges that predate the recent downcycle

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 6
  • ₹2,424 Cr hyperscaler mega order Aug 29

    Sterlite secured a ₹2,424 crore optical fibre supply order from a leading international hyperscaler covering CY27-CY29 with potential extension, significantly boosting its order book.

  • ₹3,000 Cr capacity expansion approved Sep 3

    Board approved a ₹3,000 crore capex plan targeting a 50% capacity increase by FY29, signaling confidence in long-term demand.

  • OFNP US cert for AI datacenters Sep 11

    Secured OFNP US certification (NFPA 262) for 48-576F IBR fiber trunk assemblies, opening access to US AI datacenter and hyperscale markets.

  • 100% green power across plants Aug 27

    All four plants now run on 100% green power with green hydrogen in glass manufacturing, cutting G.657.A2 fibre carbon footprint by 80% to 0.9 kg CO2e/fkm.

  • Motilal Oswal MF raises stake Aug 22

    Motilal Oswal MF increased holding to 7.66% via open market purchase of 47.16 lakh shares, reflecting institutional confidence.

  • DoT arbitration win in Delhi HC Aug 15

    Delhi HC upheld arbitral award quashing an ₹8.56 crore demand by DoT, eliminating that financial exposure entirely.

Neutral 1
  • Andhra HC partly allows Kakinada writ Aug 21

    Andhra Pradesh High Court partly allowed Sterlite's writ petition on the Kakinada Smart City contract related to the demerged Global Services Business. Outcome is mixed with no clear financial impact yet.

TL;DR: Sterlite Technologies is on a strong footing with a ₹2,424 crore hyperscaler order and a ₹3,000 crore board-approved capacity expansion targeting FY29, both reinforcing its positioning in the global fibre and AI datacenter buildout. US certification and a shift to 100% green power further strengthen its competitive moat. No material headwinds emerged in this period, and rising institutional interest from Motilal Oswal MF adds to the bullish tone. The trend is clearly improving, though execution on the large capex plan and order delivery over CY27-29 will be key to watch.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,522
1,494
1,322
843
872
1,074
998
1,052
1,019
1,034
1,257
1,441
1,910
Expenses
1,308
1,281
1,232
812
808
957
892
927
887
905
1,137
1,246
1,525
Operating Profit
214
213
90
31
64
117
106
125
132
129
120
195
385
OPM %
14%
14%
7%
3.7%
7%
11%
11%
12%
13%
12%
10%
14%
20%
Other Income
30
11
12
24
8
5
-4
-24
8
12
-6
54
12
Interest
92
95
94
71
56
62
58
65
50
55
56
63
55
Depreciation
81
85
84
81
78
79
80
79
77
80
79
77
85
PBT
71
44
-76
-97
-62
-19
-36
-43
13
6
-21
109
257
Tax %
27%
27%
-22%
-15%
-23%
-26%
-33%
-7%
23%
33%
-19%
46%
23%
Net Profit
52
32
-59
-82
-48
-14
-24
-40
10
4
-17
59
197
EPS in Rs
1.35
0.85
-1.43
-2.05
-0.98
-0.29
-0.49
-0.82
0.2
0.08
-0.35
1.21
4.04
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,097
2,144
2,449
3,177
5,087
5,154
4,825
5,437
6,925
4,083
3,996
4,745
5,642
Expenses
2,634
1,685
1,929
2,431
3,968
4,085
4,015
4,772
6,030
3,612
3,580
4,176
4,813
Operating Profit
463
459
519
746
1,120
1,069
811
665
895
471
416
569
829
OPM %
15%
21%
21%
23%
22%
21%
17%
12%
13%
12%
10%
12%
15%
Other Income
49
10
20
38
37
-25
54
-22
-64
74
-15
75
72
Interest
327
119
123
104
105
221
203
238
311
293
241
224
229
Depreciation
185
126
159
182
195
290
285
308
309
314
316
313
321
PBT
0
225
257
497
856
533
377
97
211
-62
-156
107
351
Tax %
3355%
29%
15%
27%
32%
20%
30%
54%
40%
-8%
-21%
48%
—
Net Profit
-4
160
218
364
578
424
265
45
127
-57
-123
56
243
EPS in Rs
-0.07
3.89
5.06
8.34
13.98
10.74
6.95
1.51
3.54
-1.28
-2.52
1.15
4.98
Div. Payout %
-896%
3%
25%
24%
25%
33%
29%
33%
28%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
79
79
80
80
81
81
79
80
80
80
98
98
Reserves
1,008
676
800
1,095
1,639
1,839
1,908
1,875
2,011
1,943
1,892
2,170
Borrowings
5,725
1,085
1,092
1,178
2,067
2,577
2,944
3,475
3,834
3,376
1,926
1,942
Other Liabilities
1,568
775
938
1,359
3,226
2,698
3,124
3,281
2,886
2,879
1,530
2,078
Total Liabilities
8,380
2,614
2,911
3,712
7,012
7,195
8,055
8,711
8,811
8,278
5,446
6,288
Fixed Assets
4,055
1,137
1,313
1,234
2,468
3,060
3,174
3,351
3,246
3,209
2,928
2,971
CWIP
2,193
172
66
357
419
133
227
143
129
62
23
19
Investments
59
16
49
175
135
333
303
92
136
123
90
467
Other Assets
2,074
1,289
1,483
1,946
3,990
3,669
4,350
5,125
5,300
4,884
2,405
2,831
Total Assets
8,380
2,614
2,911
3,712
7,012
7,195
8,055
8,711
8,811
8,278
5,446
6,288
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
393
215
488
729
631
696
638
584
228
791
348
520
Investing
-1,172
-128
-232
-586
-1,172
-624
-615
-481
-56
-211
-295
-485
Financing
850
-81
-187
-152
570
-68
23
115
-132
-691
4
-133
Net Cash Flow
71
6
69
-9
29
4
46
218
40
-111
57
-98
Free Cash Flow
-759
-9
276
273
-172
313
184
-8
-121
544
226
344
CFO/OP
90
57
109
113
76
82
84
112
28
197
97
102
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
98
121
102
100
97
111
110
115
96
143
75
82
Inventory Days
83
78
122
97
87
67
95
121
92
178
134
139
Days Payable
180
141
164
188
281
212
296
319
238
472
188
204
Cash Conversion Cycle
1
57
60
8
-97
-34
-91
-83
-50
-151
22
16
Working Capital Days
-86
-8
-16
-5
-36
-48
-33
-29
-46
-87
-63
-30
ROCE %
5%
8%
20%
27%
30%
19%
12%
8%
11%
3%
3%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others5.54%Promot.44.51%DIIs11.44%FIIs18.22%Public20.29%As ofJun 2026

Documents

Frequently Asked Questions about Sterlite Technologies

What does Sterlite Technologies Ltd do?
Sterlite Technologies Limited was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. STL has grown over the years to become the...
Where is Sterlite Technologies Ltd (STLTECH) listed?
Sterlite Technologies Ltd trades as STLTECH on the NSE and under code 532374 on the BSE.
Which sector does Sterlite Technologies Ltd belong to?
Sterlite Technologies Ltd is classified under the Telecommunication sector, in the Telecom - Equipment & Accessories industry.
What is the market capitalisation of Sterlite Technologies Ltd?
Sterlite Technologies Ltd has a market capitalisation of ₹43,837 Cr, which places it in the Large Cap band.
What is the PE ratio of Sterlite Technologies Ltd?
Sterlite Technologies Ltd trades at a PE ratio of 180.20, against a book value of ₹70.88 per share.
What is the 52-week high and low of Sterlite Technologies Ltd?
Over the last 52 weeks Sterlite Technologies Ltd has traded between ₹84.6 and ₹897.3.
Does Sterlite Technologies Ltd pay dividends?
Sterlite Technologies Ltd has a dividend yield of 0.12%.
What is the Return on Equity (ROE) of Sterlite Technologies Ltd?
Sterlite Technologies Ltd reported a return on equity of 2.47%. Its debt-to-equity ratio is 0.86.

Company Information

Sterlite Technologies Limited was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. STL has grown over the years to become the largest Optical Fiber and Optical Fiber Cables manufacturer in the country. The company also has sizeable presence in the overseas markets with an established presence in the global optical fiber market. [1]

Website stl.tech
CEO Mr. Ankit Agarwal
Employees 1,050
Listed 2000-12-08
Face Value ₹ 2
Issued Size 48,80,79,485

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