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Sterlite Technologies Limited (STL) announced its financial results for the fiscal year 2026, reporting an 18.8% year-over-year increase in revenue to ₹4,745 crore.
Strong FY26 Performance
The company posted an EBITDA of ₹628 crore for FY26, with an EBITDA margin of 13.2%. The fourth quarter of FY26 saw an EBITDA margin of 15.1%.
Order Book Growth
STL experienced a significant surge in order intake, approximately 110% higher than the previous year. This led to a robust open order book totaling ₹7,309 crore by the end of the fiscal year.
Fundraising Approval
Adding to the positive results, STL's Board of Directors approved a plan to raise up to ₹2,000 crore. This capital infusion is intended to support future growth projects and strategic initiatives and can be done through equity shares or other financial instruments, subject to necessary shareholder and regulatory approvals.
Context and Background
Sterlite Technologies, based in Pune, India, is a global provider of optical and digital technology solutions. The company has a history of navigating financial cycles, moving from a net loss in Q1 FY25 to a net profit in Q1 FY26 on rising revenues. The company's order book has consistently shown strength, previously exceeding ₹10,500 crore by mid-2025. However, a protracted legal battle involving its US subsidiary, Sterlite Technologies Inc. (STI), has been a key point of concern.
Key Risks
A primary risk remains the ongoing litigation involving STI, STL's US subsidiary. STI was ordered to pay $96.5 million in damages for trade secret violations to Prysmian Cables and Systems USA. STI intends to appeal this decision. While the parent company STL is not directly liable, the ultimate financial impact is still uncertain. The planned ₹2,000 crore fundraising also requires necessary shareholder and regulatory approvals, which could affect its timeline or structure.
Competitive Landscape
STL operates in a competitive market alongside companies like HFCL Ltd., Finolex Cables Ltd., and Polycab India Ltd., all active in India's expanding digital and telecom infrastructure sector.
Key Metrics Summary
Key figures for FY26 include revenue of ₹4,745 crore (an 18.8% increase year-over-year) and an open order book of ₹7,309 crore. The Q4 FY26 EBITDA margin was reported at 15.1%.
Outlook and Next Steps
Investors will be closely watching the progress of the ₹2,000 crore fundraising approvals, the outcome of STI's US subsidiary appeal, and the conversion of the large order book into revenue and profitability. Sustaining EBITDA margins amid competition and securing new significant contracts will also be key indicators for the company's future performance.