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Sterlite Technologies Ltd (STL) is a digital solutions company. The company is engaged in designing and deployment of high-capacity converged fibre cable and wireless networks. The company also partners with telcos, cloud companies, citizen networks and large enterprises to design, build and manage software networks. Sterlite has a customer base in over 100 countries globally.

Business operations

Sterlite Optical Technologies Ltd was incorporated in 2000 as Sterlite Telecom Systems Ltd. It was formed after the demerger of the telecom business from Sterlite Industries (India). The company was then renamed Sterlite Optical Technologies Ltd.

Sterlite Technologies owns manufacturing facilities at Aurangabad and Pune in Maharashtra, Silvassa in Dadra & Nagar Haveli and Haridwar in Uttarakhand.

In FY-2005, the company launched three new products, designed for access and premise networks. The following year, the company rolled out a product range for access premise & fibre-to-the-home applications.

In 2006, the company acquired the power transmission line division from Sterlite Industries (India) Ltd.

The company introduced two new products — Sterlite DOF-LITE TM ITU-TG.655 D and E range optical products for access networks and Sterlite ADSL 2+ wireless and wireline modems for broadband applications in 2006-07.

In 2007, the company acquired a 58.70% holding in Sterlite Infrastructure Private Ltd. The same year, the company got its present name Sterlite Technologies Ltd.

During FY14, the company’s joint venture with Tongguang Group of China – Jiangsu Sterlite Tongguang Fiber Co Ltd (JSTFCL) – commenced commercial production and achieved 90% capacity utilisation. JSTFCL was formed to set up an optical fibre manufacturing facility in China.

Sterlite Technologies acquired a 100% stake in Elitecore Technologies Private Limited on September 29, 2015, followed by the merger of Elitecore with the company.

In FY16, Sterlite Tech partnered with I'M Here Tracking Solutions LLP which developed an online vehicle tracking solution based on GPS and GPRS to find the real-time location of dispatch vehicles.

As of December 2023, the company has 10 global facilities, 4 innovation centres and more than 650 patents in glass science, precision manufacturing and visualised network and more.

Sterlite Technologies Ltd's market capitalisation was ₹5,700 crore as of December 30, 2023. Sterlite Technologies Ltd's share price has slipped over 20% in the last three years.

Financial highlights

• The company's total income in FY23 stood at ₹6,966 crore, recording a 24.7% year-on-year growth compared to ₹5,495 crore in FY22.
• Sterlite Technologies reported a net profit of ₹127 crore in FY23 as against ₹45 crore in FY22.
• The company made capital expenditure of ₹2 crore in FY23 as against ₹4 crore in FY22.
• The EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at ₹931 crore in FY23, as against ₹723 crore in the preceding financial year.
• The earnings per share (EPS) was ₹3.5 in FY23 as compared to ₹1.5 in the last financial year.