Whalesbook
Tariff Relief ne Sterlite Tech ko Bhaaga Diya!
Arre bhai, Sterlite Technologies Ltd. ke shares toh aag laga rahe hain! Aaj, February 10, 2026 ko, stock ne do din se lagataar gain dikhaya hai aur ₹163.40 ke naye 52-week high ko chhoo liya hai. Pichhle ek mahine mein toh stock lagbhag 70% upar gaya hai! Is rally ka sabse bada reason hai ki Nuvama jaisi brokerage firm ne is par 'buy' rating maintain rakhi hai aur target price ₹200 set kiya hai. Analysts ko lagta hai ki US mein Indian exports par tariffs 25% se kam hokar 18% ho gayi hain, aur punitive duties hat gayi hain. Isse company ke profit margins badh sakte hain aur growth bhi milegi. Aaj toh 1.88 crore shares trade hue, jiska total value ₹294 crore tha, matlab public ka interest kaafi high hai.
Par Numbers Toh Kuch Aur Bol Rahe Hain?
Magar ruk jao! Jab company ke actual financial numbers dekhte hain na, toh picture thodi alag dikhti hai. FY26 ke teesre quarter (December 2025 tak) mein, Sterlite Tech ne ₹1,257 crore ka revenue report kiya hai. EBITDA 16.2% badhkar ₹129 crore ho gaya hai. Lekin bhai, EBITDA margin 10.3% par aa gaya hai, jo pichhle saal ke 11.1% se kam hai. Matlab operating costs abhi bhi pressure mein hain. Aur sabse badi baat, company ko December quarter mein ₹17 crore ka Net Loss hua hai. Haan, pichhle saal isi quarter mein ₹24 crore ka loss tha, toh thodi improvement hai, par abhi bhi company profitable nahi hai.
Valuation Ka Kya Scene Hai?
Abhi jo stock ka valuation hai na, woh bhi samajh se bahar hai. Sterlite Technologies ka P/E ratio negative hai ya phir bahut hi high hai. Pichhle 12 mahine ka TTM P/E ratio -78.3x tha, aur kabhi 3,232.44x tak bhi pahunch gaya tha earnings kam hone ki wajah se. February 5, 2026 tak, P/E ratio 371.53x tha, jise 'expensive' mana ja raha hai. Iske saath, return on equity (ROE) -8.15% hai, matlab nuksaan mein chal raha hai, aur debt-to-equity ratio bhi lagbhag 0.93 hai.
Competitors Aur Sector Ka Outlook
Sterlite Technologies Indian telecom infrastructure sector mein hai, jo 5G aur data ki demand ke chalte grow kar raha hai. US tariffs kam hone se Sterlite aur HFCL jaise companies ko fayda hoga. Par agar peers se compare karein, toh Sterlite thoda piche lagta hai. Prysmian Group aur Corning Inc. jaise global players normal P/E multiples par trade karte hain. India mein HFCL ka P/E ratio 200x se zyada hai, jabki Sterlite ka P/E ratio uske losses ko dikhata hai. Finolex Cables aur RR Kabel jaise competitors ke P/E ratios 36 aur EV/EBITDA multiples 24 se kam hain, jo kaafi attractive hain. Sterlite ka stock history mein kaafi volatile raha hai, pehle bhi girawat dekh chuka hai.
Toh Kya Yeh Rally Tikegi?
Lagta hai yeh rally sirf tariff relief aur sector growth ki ummeed par chal rahi hai, asli profitability par nahi. Company ka lagataar loss mein hona ek bada red flag hai. EBITDA margins ka kam hona bhi operational cost pressure dikhata hai. Jo 371.53x ka P/E ratio hai, woh yeh batata hai ki current earnings stock price ko justify nahi karte. Is stock mein ek $96 million ka fine bhi laga tha US judge se trade secrets case mein. Analyst Nuvama ₹200 ka target de raha hai, lekin average target toh lagbhag ₹129.00 hai. Aur January 28, 2026 tak, Sterlite ka Mojo Score 'Sell' grade par hai. Market ka sentiment divide hai, aur current price high targets ke saath match nahi karta.