Sterlite Technologies Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Optical networking business (ONB): 94.5% • Digital and technology solutions (Digital): 5.5%
AI Sector View
AI GENERATEDTelecommunication
Telecom operating proxies are steady, with telecom subscriber base up 11.0% YoY (2026-06) and broadband subscriber base also up 11.0% YoY (2026-06). However, persistent FPI outflows of INR -11055 crore over 3 months to 2026-08-31 suggest weak investor appetite. That combination supports a neutral rather than positive stance.
PROS
- Latest quarter profit grew 1870.0% YoY, showing strong momentum
- Institutional investors have been accumulating - FII+DII up 14.9pp
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (55.1% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -19.07x)
- Company has a low return on equity of -1.5% over last 3 years
- Company has a low return on capital employed of 5.1%
- Interest coverage is weak at 1.5x - earnings barely cover interest
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| POLYCAB | 8338.00 | 43.87 | 125646.65 | 0.56 | 796.65 | 32.84 | 8209.73 | 39.01 | 34.93 | 13.84 |
| STLTECH | 867.75 | 183.52 | 44594.65 | 0.00 | 197.00 | 1870.00 | 1910.00 | 87.44 | 8.38 | 20.16 |
| KEI | 4664.00 | 44.73 | 44588.12 | 0.10 | 274.14 | 40.05 | 3185.34 | 22.97 | 20.23 | 12.43 |
| DHOOTTRANS | 1597.60 | 82.39 | 32678.60 | 0.00 | 1326.70 | — | 14464.15 | — | 24.14 | 15.10 |
| RRKABEL | 2419.95 | 45.04 | 27370.97 | 0.39 | 205.20 | 128.59 | 3168.20 | 53.90 | 28.43 | 9.01 |
| FINCABLES | 1352.55 | 25.85 | 20685.81 | 0.67 | 249.04 | 53.14 | 2013.15 | 44.26 | 16.06 | 14.16 |
| PRECWIRE | 474.40 | 511.86 | 8672.33 | 0.26 | 46.45 | 71.48 | 1779.24 | 61.20 | 33.09 | 4.76 |
| UNIVCABLES | 1540.35 | 26.68 | 5344.30 | 0.29 | 70.14 | -78.69 | 945.06 | 57.46 | 11.69 | 13.80 |
| LASERPOWER | 296.70 | 27.47 | 4164.73 | 0.00 | 207.32 | — | 5215.47 | — | 24.84 | 12.62 |
| ADVAIT | 2093.05 | 39.02 | 2290.43 | 0.10 | 14.80 | 65.77 | 179.27 | 51.37 | 28.24 | 13.36 |
| DYCL | 456.95 | 24.29 | 2214.32 | 0.11 | 249.53 | 1270.52 | 3491.01 | 1232.27 | 26.80 | 10.89 |
| PARACABLES | 66.48 | 35.69 | 2175.49 | 0.00 | 19.70 | 6.49 | 529.40 | 17.35 | 16.62 | 6.56 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,522 | 1,494 | 1,322 | 843 | 872 | 1,074 | 998 | 1,052 | 1,019 | 1,034 | 1,257 | 1,441 | 1,910 | |
| 1,308 | 1,281 | 1,232 | 812 | 808 | 957 | 892 | 927 | 887 | 905 | 1,137 | 1,246 | 1,665 | |
| Operating Profit | 214 | 213 | 90 | 31 | 64 | 117 | 106 | 125 | 132 | 129 | 120 | 195 | 245 |
| OPM % | 14.06% | 14.26% | 6.81% | 3.68% | 7.34% | 10.89% | 10.62% | 11.88% | 12.95% | 12.48% | 9.55% | 13.53% | 12.83% |
| 21 | 3 | 19 | 13 | 8 | 2 | 5 | 21 | 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 |
| Profit before Tax | 62 | 36 | -69 | -108 | -62 | -22 | -27 | 2 | 13 | 6 | -21 | 109 | 257 |
| Tax % | 30.65% | 33.33% | 24.64% | 13.89% | 22.58% | 22.73% | 44.44% | -150.00% | 23.08% | 33.33% | 19.05% | 45.87% | 23.35% |
| Net Profit | 0 | 0 | 0 | 0 | -48 | -14 | -240 | -400 | 10 | 4 | -17 | 59 | 197 |
| 1.15 | 0.71 | -1.24 | -2.30 | -1.00 | -0.35 | -0.30 | 0.10 | 0.20 | 0.08 | -0.35 | 1.21 | 4.03 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,449 | 3,177 | 5,087 | 5,154 | 4,825 | 5,437 | 6,925 | 4,083 | 3,996 | 4,745 | 5,642 | |
| 1,930 | 2,428 | 3,960 | 4,085 | 4,015 | 4,772 | 6,035 | 3,622 | 3,580 | 4,176 | 4,953 | |
| Operating Profit | 519 | 749 | 1,127 | 1,069 | 811 | 665 | 890 | 461 | 416 | 569 | 689 |
| OPM % | 21.19% | 23.59% | 22.16% | 20.75% | 16.80% | 12.23% | 12.85% | 11.29% | 10.41% | 11.99% | 12.21% |
| 23 | 39 | 37 | -16 | 43 | 74 | 41 | 67 | 36 | 75 | 72 | |
| Interest | 123 | 104 | 105 | 221 | 203 | 238 | 311 | 293 | 241 | 224 | 229 |
| Depreciation | 159 | 182 | 195 | 290 | 285 | 307 | 309 | 315 | 316 | 313 | 321 |
| Profit before Tax | 257 | 502 | 864 | 542 | 380 | 199 | 315 | -76 | -105 | 107 | 351 |
| Tax % | 15.41% | 26.54% | 32.21% | 20.10% | 29.26% | 26.13% | 26.67% | 6.58% | 31.43% | 47.66% | 30.77% |
| Net Profit | 218 | 369 | 585 | 433 | 269 | 147 | 231 | -71 | -72 | 56 | 243 |
| EPS | 4.98 | 8.32 | 13.83 | 10.64 | 6.85 | 1.50 | 3.50 | -1.27 | -2.51 | 1.14 | — |
| Dividend Payout % | 24.72% | 23.99% | 25.04% | 32.58% | 28.80% | 33.33% | 28.37% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 0%
- 3 Years:
- -12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -10%
- 5 Years:
- -27%
- 3 Years:
- -26%
STOCK PRICE CAGR
- 10 Years:
- 26%
- 5 Years:
- 25%
- 3 Years:
- 69%
- 1 Year:
- 646%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 3%
- 3 Years:
- -1%
- Last Year:
- 3%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 80 | 80 | 81 | 81 | 79 | 80 | 80 | 80 | 98 | 98 |
| Minority Interest | 45 | 82 | 95 | 103 | 98 | 92 | 4 | 0 | 0 | 0 |
| 781 | 1,074 | 1,609 | 1,812 | 1,885 | 1,850 | 1,986 | 1,929 | 1,880 | 2,032 | |
| 1,205 | 1,242 | 2,082 | 2,565 | 2,899 | 3,386 | 3,715 | 2,915 | 1,654 | 1,668 | |
| Trade Payables | 449 | 656 | 1,913 | 1,430 | 1,944 | 2,420 | 2,152 | 2,178 | 1,028 | 1,336 |
| 349 | 577 | 1,232 | 1,376 | 1,150 | 884 | 851 | 1,083 | 724 | 1,115 | |
| Total Liabilities | 2,908 | 3,712 | 7,012 | 7,367 | 8,055 | 8,712 | 8,788 | 8,185 | 5,384 | 6,249 |
| 1,304 | 1,225 | 2,468 | 3,060 | 3,174 | 3,351 | 3,246 | 3,209 | 2,928 | 2,968 | |
| Capital Work in Progress | 66 | 357 | 419 | 133 | 227 | 143 | 129 | 62 | 23 | 19 |
| 49 | 175 | 135 | 333 | 303 | 92 | 136 | 123 | 90 | 467 | |
| 333 | 338 | 590 | 452 | 626 | 920 | 832 | 822 | 736 | 906 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,598 | 826 | 1,066 | |
| Cash & Bank | 137 | 138 | 234 | 245 | 248 | 530 | 507 | 403 | 468 | 323 |
| 1,018 | 1,479 | 3,166 | 3,145 | 3,476 | 3,676 | 3,938 | 1,968 | 313 | 500 | |
| Total Assets | 2,908 | 3,712 | 7,012 | 7,367 | 8,055 | 8,712 | 8,788 | 8,185 | 5,384 | 6,249 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 565 | 840 | 854 | 873 | 682 | 742 | 247 | 791 | 348 | 520 | |
| Cash from Investing | -232 | -582 | -1,172 | -627 | -619 | -481 | -57 | -209 | -89 | -507 |
| Cash from Financing | -187 | -152 | 570 | -68 | 23 | 115 | -132 | -691 | 4 | -133 |
| 69 | -5 | 29 | 2 | 43 | 218 | 39 | -109 | 263 | -120 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - STLTECH: Sterlite Technologies Limited has informed the Exchange regarding allotment of shares under ESOP Scheme 2010 and 2016.
2026-09-10 - Press Release - Sterlite Technologies Limited launches Plenum-rated Fiber Trunk Assemblies for AI Data Center Connectivity.
2026-09-07 - Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed transcript of Analyst/ Investor Meet held on September 3, 2026.
2026-09-03 - STLTECH: Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith video recordings of investor/ analyst meet held on September 3, 2026.
2026-09-03 - Sterlite Technologies Limited has informed the Exchange about Capacity addition
2026-09-03 - Sterlite Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on September 03, 2026.
2026-09-02 - Sterlite Technologies Limited has informed the Exchange about Credit Rating
2026-09-01 - Sterlite Technologies Limited has informed the Exchange about ESG Ratings
2026-08-31 - Sterlite Technologies Limited has informed the Exchange about Schedule of meet
News
Recent coverage and analyst commentary for STLTECH
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