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]
Market PositionThe company’s global ex-China Optical Fiber Cables (OFC) market share was 8% in FY24 vs 12% in FY23.[1]It is among the largest and lowest-cost producers of Optical Fibre and OFC in India because of extensive backward integration.[2][3]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ITI | 298.45 | – | 28745.49 | 0.00 | -54.24 | 24.09 | 543.40 | -46.53 | -1.33 | 3121.65 | -1.51 | -246.62 | -52.53 | 19.81 | -2.68 | 0.90 |
| 2. | Tejas Networks | 370.00 | – | 6569.09 | 0.67 | -196.55 | -218.64 | 306.79 | -88.39 | 15.47 | 2677.53 | -16.51 | -769.35 | -196.55 | 1.98 | 4.79 | 1.29 |
| 3. | Sterlite Tech. | 94.15 | – | 4595.27 | 0.00 | -2.00 | 90.48 | 559.00 | 0.90 | -0.50 | 2247.00 | 5.12 | -40.00 | -2.00 | 3.26 | -2.13 | 0.82 |
| 4. | Optiemus Infra. | 454.90 | 58.47 | 4020.61 | 0.00 | 16.78 | 22.21 | 418.27 | -12.24 | 14.40 | 1774.38 | 6.59 | 68.77 | 16.78 | 5.61 | 4.37 | 0.35 |
| 5. | Valiant Commun. | 813.10 | 68.01 | 930.36 | 0.12 | 5.27 | 88.21 | 20.17 | 58.57 | 21.13 | 62.97 | 30.06 | 13.68 | 5.27 | 12.91 | 14.04 | 0.03 |
| 6. | ADC India | 1600.00 | 40.76 | 736.00 | 1.88 | 4.31 | -50.57 | 45.75 | -9.92 | 46.57 | 178.52 | 11.48 | 18.06 | 4.31 | 9.55 | 22.43 | 0.00 |
| 7. | Birla Cable | 132.73 | 79.16 | 398.19 | 0.00 | 0.69 | -65.50 | 176.07 | -3.11 | 5.14 | 666.54 | 4.82 | 5.03 | 0.69 | 1.47 | 1.14 | 0.41 |
| – | Median: 10 Co. | 222.25 | 40.76 | 833.18 | 0.0 | 0.58 | 10.07 | 115.5 | -6.51 | 12.0 | 442.96 | 9.04 | 8.87 | 0.58 | 2.96 | 4.58 | 0.38 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,305.00 | 1,462.00 | 1,354.00 | 1,155.00 | 1,135.00 | 867.00 | 510.00 | 516.00 | 554.00 | 590.00 | 555.00 | 543.00 | 559.00 |
Expenses | 1,138.00 | 1,233.00 | 1,231.00 | 1,019.00 | 1,051.00 | 888.00 | 598.00 | 556.00 | 527.00 | 576.00 | 530.00 | 502.00 | 524.00 |
Operating Profit | 167.00 | 229.00 | 123.00 | 136.00 | 84.00 | -21.00 | -88.00 | -40.00 | 27.00 | 14.00 | 25.00 | 41.00 | 35.00 |
Other Income | -44.00 | -18.00 | 52.00 | 38.00 | 56.00 | 38.00 | 56.00 | 47.00 | 44.00 | 30.00 | 22.00 | 38.00 | 39.00 |
Profit before tax | 6.00 | 85.00 | 47.00 | 48.00 | 15.00 | -104.00 | -133.00 | -78.00 | -16.00 | -38.00 | -36.00 | 3.00 | -3.00 |
Tax % | 216.67% | 37.65% | 46.81% | 20.83% | 6.67% | -27.88% | -22.56% | -26.92% | -43.75% | -31.58% | -30.56% | 33.33% | -33.33% |
Net Profit | -7.00 | 53.00 | 25.00 | 38.00 | 14.00 | -75.00 | -103.00 | -57.00 | -9.00 | -26.00 | -25.00 | 2.00 | -2.00 |
EPS in Rs | -0.18 | 1.33 | 0.63 | 0.95 | 0.35 | -1.88 | -2.58 | -1.17 | -0.18 | -0.53 | -0.51 | 0.04 | -0.04 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,726 | 3,030 | 2,028 | 2,256 | 2,865 | 4,863 | 4,760 | 4,142 | 4,856 | 5,356 | 2,661 | 2,215 | 2,247 |
Expenses | 2,471 | 2,687 | 1,596 | 1,834 | 2,260 | 3,823 | 3,764 | 3,429 | 4,265 | 4,615 | 2,653 | 2,188 | 2,132 |
Operating Profit | 256 | 343 | 432 | 422 | 605 | 1,040 | 997 | 713 | 591 | 741 | 8 | 27 | 115 |
Other Income | 16 | 43 | 20 | 23 | 35 | 35 | -18 | 58 | -21 | -85 | 217 | 145 | 129 |
Interest | 95 | 179 | 98 | 117 | 103 | 95 | 204 | 190 | 216 | 280 | 227 | 163 | 149 |
Depreciation | 103 | 108 | 107 | 145 | 170 | 168 | 232 | 215 | 198 | 203 | 185 | 174 | 169 |
Profit before tax | 73 | 99 | 248 | 182 | 367 | 811 | 542 | 366 | 156 | 173 | -187 | -165 | -74 |
Net Profit | 50 | 84 | 181 | 156 | 255 | 535 | 434 | 261 | 83 | 75 | -127 | -115 | -51 |
EPS in Rs | 1.27 | 2.14 | 4.59 | 3.91 | 6.35 | 13.30 | 10.73 | 6.59 | 2.09 | 1.88 | -3.18 | -2.36 | -1.04 |
Dividend Payout % | 24% | 28% | 22% | 32% | 31% | 26% | 33% | 30% | 24% | 53% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 79 | 79 | 79 | 80 | 80 | 81 | 81 | 79 | 80 | 80 | 80 | 98 | 98 |
Reserves | 1,140 | 1,164 | 815 | 792 | 990 | 1,508 | 1,729 | 1,747 | 1,763 | 1,804 | 1,641 | 1,320 | 1,310 |
Borrowings | 1,313 | 1,692 | 910 | 1,068 | 1,163 | 1,529 | 1,972 | 2,241 | 2,664 | 3,049 | 2,393 | 1,214 | 1,155 |
Other Liabilities | 1,015 | 1,292 | 704 | 811 | 1,151 | 2,809 | 2,315 | 2,668 | 2,909 | 2,695 | 2,882 | 1,474 | 1,320 |
Total Liabilities | 3,546 | 4,227 | 2,508 | 2,750 | 3,384 | 5,926 | 6,096 | 6,736 | 7,416 | 7,628 | 6,996 | 4,106 | 3,883 |
Fixed Assets | 1,006 | 914 | 914 | 1,131 | 1,088 | 1,809 | 2,262 | 2,204 | 2,149 | 1,967 | 1,848 | 1,681 | 1,627 |
Gross Block | 1,683.56 | 1,743.64 | 1,708.99 | 2,092.49 | 2,203.68 | 3,072.62 | 3,717.73 | 3,839.29 | 3,971.00 | 3,800.00 | 3,823.00 | 3,710.00 | – |
Accumulated Depreciation | 677.46 | 829.34 | 794.78 | 961.15 | 1,115.28 | 1,264.02 | 1,456.13 | 1,635.68 | 1,822.00 | 1,833.00 | 1,975.00 | 2,029.00 | – |
CWIP | 16 | 33 | 125 | 18 | 226 | 414 | 128 | 147 | 65 | 55 | 16 | 16 | 23 |
Investments | 434 | 1,373 | 142 | 155 | 276 | 264 | 522 | 504 | 297 | 427 | 370 | 309 | 430 |
Other Assets | 2,090 | 1,907 | 1,327 | 1,445 | 1,794 | 3,439 | 3,185 | 3,882 | 4,905 | 5,179 | 4,762 | 2,100 | 1,803 |
Total Assets | 3,546 | 4,227 | 2,508 | 2,750 | 3,384 | 5,926 | 6,096 | 6,736 | 7,416 | 7,628 | 6,996 | 4,106 | 3,883 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 263 | 255 | 128 | 420 | 595 | 592 | 591 | 468 | 393 | -194 | 959 | 80 |
Cash from Investing Activity | -408 | -437 | -100 | -247 | -427 | -764 | -517 | -434 | -296 | -13 | -116 | -374 |
Cash from Financing Activity | 80 | 196 | -49 | -122 | -171 | 161 | -56 | -34 | 102 | 70 | -797 | 314 |
Net Cash Flow | -66 | 14 | -20 | 51 | -2 | -11 | 18 | -0 | 199 | -137 | 46 | 20 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 90 | 108 | 133 | 112 | 110 | 88 | 108 | 121 | 139 | 147 | 248 | 131 |
Inventory Days | 61 | 74 | 75 | 120 | 95 | 56 | 44 | 64 | 62 | 54 | 81 | 93 |
Days Payable | 127 | 165 | 142 | 167 | 196 | 264 | 213 | 327 | 320 | 277 | 574 | 315 |
Cash Conversion Cycle | 24 | 17 | 66 | 65 | 9 | -120 | -60 | -142 | -119 | -76 | -244 | -91 |
Working Capital Days | -54 | -48 | 9 | -7 | -7 | -40 | -54 | -38 | -32 | -31 | -114 | -149 |
ROCE % | 7% | 10% | 15% | 16% | 23% | 34% | 23% | 14% | 10% | 15% | -1% | -0% |
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Stock Analysis
Sterlite Technologies Limited (STL) is a leading Indian company in the optical fiber and optical network products sector. It focuses on manufacturing and supplying advanced optical fiber cables and related solutions for telecommunications and data networking industries globally.
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