Sterlite Technologies Ltd Share Price – NSE  / BSE

Cables, Small Cap

Sterlite Technologies has received revision in credit ratings from ICRA as under:

Total bank facilities rates - Rs 4475 crore

Long term rating - ICRA AA-; Stable (downgraded from ICRA AA; Outlook revised from Negative)

Short term rating - ICRA AA-; Stable (downgraded from ICRA AA; Outlook revised from Negative)

25.15 million euros bank limits - ICRA AA-; Stable (downgraded from ICRA AA; Outlook revised from Negative)

Rs.500 Crore Commercial Paper - ICRA A1+ (reaffirmed)

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Sterlite Technologies announced winning the strategically significant Jammu & Kashmir leg of the BharatNet III project in consortium with Dilip Buildcon. This project, valued at Rs 2600 crore (Rs1,625 crore in capex and Rs 975 crore for operations & maintenance), strongly aligns with STL's fervour for nation-building and its purpose of Transforming Billions of lives by Connecting the World.

The company previously executed the Network for Spectrum (NFS) project, building the world's largest intrusion-proof network spanning over 10,000 kilometers for the Indian Armed Forces. With this new BharatNet project, STL is now focused on expanding broadband connectivity to villages, paving the way for enhanced opportunities in education, healthcare, and economic development for the citizens of the state.

STL has also been a strong partner in earlier BharatNet phases, successfully executing projects such as Mahanet in Maharashtra and T-Fibre in Telangana. With over 1,50,000 kilometres of fibre laid across India, STL has established itself as a trusted leader in large-scale network deployments.

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The project involves development (creation, upgradation and operation & maintenance) of middle mile network of Bharat Net on design build operate and maintain (DBOM) model – Package 13 in the state of Jammu & Kashmir.

The project includes a 3-year construction period, followed by a 10-year maintenance contract. The maintenance fee will be 5.5% of the capital expenditure (capex) annually for the first 5 years and 6.5% annually for the subsequent 5 years.

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.

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Sterlite Technologies (STL or the Company) announced that it emerged as L1 bidder from Bharat Sanchar Nigam (BSNL) for “Development (Creation, Upgradation and Operation & Maintenance) of Middle mile network of Bharat Net on Design Build Operate and Maintain (DBOM) Model” - Package 13 (Jammu & Kashmir). The value of the contract is Rs 1625.36 crore.

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