Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Oct - Intimation regarding Newspaper Advertisement for opening of Special Window for Lodgment/ Re-lodgment of transfer of shares in physical form.
Source: Bse
Sterlite Technologies Limited (STLTECH)
Micro CapTelecom stocks · Micro cap · NSE
Sterlite Technologies Limited (STL) is an Indian multinational company vertically integrated across the optical value chain, manufacturing glass, fiber, cable, and connectivity solutions. It serves telecom and AI data center infrastructure globally, leveraging its end-to-end capabilities and IP for high-density, integrated connectivity.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result24 Jul, 08:15 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Telecom P/E 28.1 (n=16)
Technical timing lens
Trend score and candlestick chart
65BullishSMA20 +20.9% / mo · MACD − · near 52W high
Stock trend: 65
Sector RS: —
Telecom FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
STLTECHD candles · FIT view+233.0%Latest close ₹887.25 on 2026-10-19
Bar
+3.8%
RSI
50
MACD hist
-18.76
52W pos
83%
2026-10-19O ₹855.00H ₹908.80L ₹840.90C ₹887.25Vol 23.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
STLTECHNifty TelecommunicationsNifty 500
- STLTECH
- +76.2%
- Nifty 500
- -5.6%
- Nifty Telecommunications
- +3.9%
- Vs Nifty 500
- +81.8 pp
Chart stats
19 Oct 2026- From 52W high
- -15.6%
- 52W range position
- 83%
- ATR (14)
- 5.6%
- Volume vs 20D
- 1.21x
- Avg traded value
- ₹184 Cr
- 20D price channel
- ₹783.4 - ₹1,051.1
₹1,051.1
₹84.6 - ₹1,051.1
₹49.7
Latest completed session
20-session average
54.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · OVERVALUED15
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +87.4% · PAT +1870.0% YoY
Technical
Bullish65
Price trend and sector-relative-strength timing.
Valuation
Legacy model-14152.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence64
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 100/100Rev +87% YoY · PAT +1870% YoY · margin expansion · +33% QoQ · operating leverage
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,910 Cr | +87.4% | +32.5% |
| EBITDA | ₹385 Cr | +191.7% | +97.4% |
| Operating margin | 20.0% | +700 bps | +600 bps |
| PAT | ₹197 Cr | +1870.0% | +233.9% |
| PAT margin | 10.3% | +933 bps | +622 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 188.00
- P/B
- 18.62
- EV/EBITDA
- 41.64
- Market Cap
- 44512.00Cr
Profitability
- ROE
- 1.24%
- ROCE
- 7.65%
- ROA
- 3.86%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 5.13%
- EPS 5Y
- -37.00%
- Revenue 3Y
- -12.00%
- EPS 3Y
- -43.00%
Balance Sheet
- Debt/Equity
- 1.49
- Interest Coverage
- 3.62×
- Altman Z
- 7.95
- Book Value
- 46.50
Cash Flow
- FCF Yield
- 0.08%
- FCF Positive Y
- 10/5
- OCF
- 520.00 Cr
- EPS TTM
- 4.98
Shareholding
- Promoter Hold
- 42.29%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 81%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 2,832+15.8% vs prev
Net Profit
₹ CrLatest: 2.0+101.7% vs prev
Return on Equity
%Latest: 0.1+101.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 50. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~17.3% over last month) — short-term momentum positive.
- RSI(14) at 50 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 16% off 52W high · 949% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth4/25
Quality0/20
Balance Sheet4/15
Cash Flow4/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
15
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
15/100 · legacy band OVERVALUED
Positive drivers
- Cash flow contributes 4/10 to the score.
- Balance sheet contributes 4/15 to the score.
- Growth contributes 4/25 to the score.
Main drags
- Fair-value margin of safety is negative at -14152.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Telecom valuation: EV/EBITDA against ARPU, debt, and capex
Telecom needs enterprise-value and cash-flow framing because leverage is structurally important.
Primary lens
EV/EBITDA and debt-adjusted cash generation.
Secondary checks
ARPU growth, subscriber quality, spectrum liabilities, capex intensity.
Main risk check
High EBITDA can still be weak equity value if debt and capex absorb cash.
PE
188.0
PB
18.6
EV/EBITDA
41.6
ROE
1.2%
ROCE
7.7%
FCF Yield
0.1%
Debt/Equity
1.5
MoS
-14152.8%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
15
Previous: 15
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-14152.8%
Previous: -14152.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
14
14
14
14
14
14
14
14
15
15
15
15
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹72.18
-1129.2% MoS
Growth-justified P/E
1.3
Growth-justified Value
₹6.23
-14152.8% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Telecom — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
OPTIEMUS
Micro
Optiemus Infracom Limited
Telecom
match 93
25
98.1
9.2%
-279%
OVERVALUED
TEJASNET
Large
Tejas Networks Limited
Telecom
match 88
14
—
-26.8%
—
OVERVALUED
RAILTEL
Large
Railtel Corporation Of India Limited
Telecom
match 83
67
21.7
17.1%
+45%
UNDERVALUED
SURANAT&P
Small
Surana Telecom and Power Limited
Telecom
match 82
58
6.5
-8.4%
+86%
FAIR VALUE
SUNTV
Large
Sun TV Network Limited
Telecom
match 75
42
15.7
12.2%
-15%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-12T07:47:00.508Z
Management commentary snapshot
STL targets 4x revenue growth to INR 20,000 crore and 1380 bps EBITDA margin expansion to 27%+ by FY29, driven by expanding optical TAM and AI data center demand. Q1 FY27 marked highest ever quarterly revenue and EBITDA, signaling a business quality improvement and strong operating base.
Management's 'Lakshya' ambition for FY29 is highly aggressive, targeting a 4x revenue increase and doubling EBITDA margins in just three years. While the shift to AI data centers presents a significant structural opportunity, achieving such rapid scaling and profitability improvement requires flawless execution, sustained high demand, and successful technology differentiation, which warrants close monitoring.
Growth engines
Expanding Optical TAM
Optical is moving into more parts of infrastructure, with increasing optical content per deployment, and a progressive shift from copper to optical.
AI Data Centers
Rapidly growing need to connect intelligence and compute inside AI data centers, driving demand for high-density connectivity and Data Center Interconnect (DCI).
Customer Co-development
Working with customers earlier in the design cycle to develop connectivity architecture, moving from supplier to partner and capturing greater share of opportunity.
Integrated Connectivity Solutions
Strategy to increasingly provide connectivity as an integrated solution, simplifying deployment for customers and capturing greater value across the stack.
Capacity and execution
Preform, Fiber, and Cable Capacities
Plan to invest approximately INR 1,000 crores annually over the next 3 financial years, expanding capacities by 50%.
Greenfield Optical Connectivity Facility
New Greenfield Optical Connectivity Facility in India to address rapidly growing demand of data centers and AI infrastructure with higher density solutions.
Tailwinds
Structural & Secular Growth Drivers
Demand for optical connectivity is increasingly driven by multiple structural and secular growth drivers, making the business less dependent on traditional telecom investment cycles.
AI Adoption Acceleration
As AI adoption accelerates, connectivity is moving deeper inside data centers and closer to compute, creating significantly higher requirements for bandwidth and fiber latency.
Favorable Indian Policy Environment
India's data center growth is supported by favorable policy, including a tax holiday to 2047, and strong power availability across multiple sites.
Hyperscaler Investments in India
Leading hyperscalers are making multi-billion dollar investments in India across cloud, AI, and data center infrastructure, extending global relationships into the home market.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Q1 FY27 results are highlighted as a turning point, indicating sequential momentum. However, the FY29 targets and long-term infrastructure projects suggest that year-over-year comparisons are crucial for assessing sustained growth and project execution.
Sector KPIs management disclosed
Global Optical Fiber Market Share (ex-China)
Approximately 9% of the global optical fiber market outside China.
Order Book
Open order book of more than $2 billion, providing strong visibility.
AI Data Center Capacity Growth (India)
India's data center capacity expected to increase from 1.5GW to 10GW by 2030, implying a 46% CAGR.
Fiber Content per AI Rack (Vera Rubin)
Roughly 64,000 fibers per rack with Vera Rubin, a 64x increase from legacy front-end racks.
Management forward view
Pivotal Moment
STL is at a pivotal moment in its journey, with industry changes and evolving optical demand opening a significantly larger opportunity, reshaping the quality and nature of revenue.
Lakshya Ambition
Under 'Lakshya', STL is targeting INR 20,000 crore revenue and 27%+ EBITDA margin by FY29, aiming to transform its scale and position as a global digital connectivity player.
Technology-led Differentiation
Investing ahead of the curve in hollow-core fiber, multi-core fiber, 13,000 fiber count capability, and in-house development of co-packaged optics to address next-generation requirements.
Strongest Quarter
Q1 FY27 marked the highest ever quarterly revenue and EBITDA, reflecting a broader improvement in business quality, a strong operating base, and a healthy order book.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | Q1 FY27 highest ever quarterly revenue. | Sustained growth towards INR 20,000 crore by FY29, particularly from AI data center segment. |
| EBITDA Margin | 13.2% in FY26 (target 27%+ by FY29). | Progressive improvement in margins driven by operating leverage, richer product mix, and higher-value solutions. |
| Capacity Expansion & Utilization | Plan to expand preform, fiber, cable capacities by 50% over 3 years. | Timely commissioning and ramp-up of new capacities, especially the Greenfield Optical Connectivity Facility, and improved utilization rates. |
| Order Book Conversion | Over $2 billion open order book. | Consistent conversion of the order book into revenue and new order wins, especially in the high-growth AI infrastructure space. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
64Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 42nd percentile of the scored universe and 31st percentile within Telecom. Main check: financial discipline is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
104 docs text-extracted · 45 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
42nd percentile
overall median 67 · Telecom: 31st pctile, median 66 · Micro: 25th pctile, median 73
Evidence depth
Financial-only
104 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
70
acceptable · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
61
acceptable · leverage and solvency
Discipline
48
watch · capital discipline
Results
60
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸10 years of positive FCF.
- ▸3/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Promoter holding fell 2.2%.
- ▸Debt/equity is 1.49.
- ▸ROCE is low at 7.7%.
- ▸ROE is low at 1.2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Sterlite Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 24 Sep - STL launches Neuralis pre-terminated fiber trunk assemblies from 48F to 6912F for hyperscale data centers.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 10 Sep - STL launched plenum-rated fiber trunk assemblies, securing OFNP and NFPA 262 certification for 48-576F IBR portfolio.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Sep - Allotment of shares under ESOP Scheme 2010 and 2016.
Source: Bse
Investor presentation
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 3 Sep - Investor meet presentation outlines FY27-29 roadmap, 1.5x capacity expansion, and ₹20,000 Cr FY29 revenue target.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 15 Aug - Delhi High Court upheld award quashing DoT's INR 8.56 crore demand against STL.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 5 Aug - Management to attend Nuvama India Conference 2026 and Citi Industrials Access Day on August 11-13, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 5 Aug - STL wins USD 210 million long-term supply agreement for high-density optical fiber cables in CY27-29.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 1 Aug - Sterlite Technologies wins ₹960 crore multi-year optical fibre cable supply order from domestic telecom operator for FY28-FY29.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Jul - STL launched CONCAT FTTH solution in the US after successful field trials.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Jul - Allotment of shares under ESOP Scheme 2010 and 2016.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.