Sterlite Technologies Ltd Share Price – NSE  / BSE

Cables, Small Cap

Cherian will be relieved effective close of business hours of 31 January 2025.

Meanwhile, Amit Deshpande, AVP-general counsel & company secretary (key managerial personnel), has tendered his resignation to pursue opportunities outside of the company. Deshpande will be relieved effective close of business hours of 31 January 2025.

The company appreciates the contributions made by Praveen Cherian and Amit Deshpande in their respective roles and wishes them all the best for their future endeavours, it added.

Sterlite Technologies is a leading global optical and digital solutions company providing advanced offerings to build 5G, rural, FTTx, enterprise, and data centre networks.

The company’s consolidated net loss to Rs 14 crore in Q2 FY25 from Rs 48 crore in Q1 FY25. Revenue increased by 16.01% sequentially to Rs 1,413 crore.

Shares of Sterlite Technologies shed 0.30% to Rs 115.50 on the BSE.

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STL Digital, an IT Services and Consulting Company (a wholly-owned subsidiary of Sterlite Technologies), announced the successful deployment of RISE with SAP S/4HANA Cloud for eight Vedanta companies (Hindustan Zinc, Sterlite Copper, Cairn Oil & Gas, Sesa Goa Iron Ore, Vedanta Aluminium, Vedanta Zinc International, ESL Steel, Vedanta Corporate), globally.

Vedanta, a globally diversified natural resources, energy, and technology conglomerate, prioritizes operational excellence, timely execution of growth projects, and environmental sustainability. In line with these objectives, Vedanta initiated the internally code-named VRISE (Vedanta RISE) program to enhance synergy, efficiency, and visibility in operations. STL Digital supported Vedanta in this transformation journey to consolidate its SAP platforms onto a single cloud platform across the entire group, laying the groundwork for future transformations and shared operations.

In collaboration with SAP, STL Digital executed the ambitious VRISE program, transforming Vedanta's eight business units serving over 15,000 users, onto the RISE with SAP S/4HANA Cloud platform. Critical business integration scenarios were transformed, making this one of the largest RISE with SAP transformation initiatives in the metals, mining, and oil & gas industry. The entire transformation was completed within a record time of 6.5 months, setting a benchmark for this scale and complexity.

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Sterlite Technologies has received reaffirmation in credit ratings from CRISIL as under:

Total Bank Loan Facilities Rated - Rs.5767 crore

Long Term Rating - CRISIL AA-/Watch Developing (Continues on ‘Rating Watch with Developing Implications')

Rs. 490 crore Non-convertible Debentures - CRISIL AA-/Watch Developing (Continues on ‘Rating Watch with Developing Implications')

Rs.800 crore Commercial Paper CRISIL A1+/Watch Developing (Continues on ‘Rating Watch with Developing Implications'

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Sterlite Technologies announced Rahul Puri's promotion to Chief Executive Officer (CEO), of the Optical Networking Business (ONB), effective immediately. Rahul has been serving as the Vice President and General Manager - EMEIA & APAC.

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