NSE:STLTECH · Risk Score Report

NSE:STLTECHNSETechnology

Sterlite Technologies Limited

📊 Communication Equipment

Day ₹272

₹292 Neutral

52W ₹59

₹294 Overbought

₹283.04

▼ ₹2.09 (-0.73%)

Vol: 2,930,901 · Avg: 10,173,938

As of April 29, 2026 · 06:32 IST

COMPOSITE RISK SCORE

VAL:0/25 · FIN:0/25 · GRO:7/25 · TECH:18/25

📈 P/E RATIO

4717.3x

Trailing

📖 P/B RATIO

6.7x

Price to Book

💰 EPS

₹0.06

TTM

🏛 MARKET CAP

₹13,816Cr

Mid Cap

📊 ROE

-6.2%

Return on Equity

📈 REV GROWTH

-0.3%

YoY

🏢 Company Analysis · Sterlite Technologies Limited

💼 BUSINESS MODEL

Sterlite Technologies Limited, together with its subsidiaries, manufactures and sells telecom products in India and internationally..
The company designs and manufactures optical fibres, optical fibre and specialty cables, and optical connectivity products..
The company also provides multiverse and access network distribution solutions; and operates Neox communication platform..
Sterlite Technologies Limited was founded in 1988 and is based in Pune, India..
Operates in Communication Equipment within the Technology sector.
Workforce of 1,050 employees.

🏰 MOAT & COMPETITION

Mid-cap (₹13,816 Cr) — growing company in a competitive landscape.
Key competitors: Valiant Commun., ADC India, Umiya Buildcon, Frog Innovations.

🚀 CATALYSTS

No specific near-term catalysts identified from available data.

⚖️ ASYMMETRY CHECK

Analyst target range: ₹180 — ₹280 (mean ₹230, 2 analysts).
P/E of 4717.3x — premium valuation, growth must sustain to avoid de-rating risk.

🔭 FUTURE OUTLOOK

Analyst consensus: None (2 analysts).
Debtor days have improved from 105 to 75.4 days.

✅ PROS

Company has reduced debt.
Debtor days have improved from 105 to 75.4 days.

❌ CONS

Stock is trading at 6.64 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -4.96% over past five years.
Company has a low return on equity of -0.89% over last 3 years.
Promoter holding has decreased over last 3 years: -9.61%

VALUATION

0/25

25% WEIGHT

P/E at 4717x
P/B at 6.7x
Analyst target: ₹230 (-18.7%)
1Y return: +336.3%

FINANCIAL HEALTH

0/25

25% WEIGHT

ROE: -6.2%
Profit margin: -1.0%
Revenue growth: -0.3%
Debt/Equity: 94%

GROWTH

7/25

25% WEIGHT

Revenue growth: -0.3%
Earnings growth: 0.0%
Beta: 0.59
Sector: Technology

TECHNICAL

18/25

25% WEIGHT

RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals

📈 Price Movement

🕯 Candlestick Chart

🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗

📉 Valuation Trends (at current CMP)

P/E Ratio at current CMP

💎 Valuation & Financial Metrics

P/E RATIO

4717.3x

Trailing twelve months

P/B RATIO

6.7x

Price to Book value

ROE

-6.2%

Return on Equity

PROFIT MARGIN

-1.0%

Net profit margin

OPM

3.3%

Operating profit margin

ANALYST TARGET

₹230

Range: ₹180 - ₹280

Yahoo Finance ↗

PEG RATIO

N/A

Price/Earnings to Growth

EV/EBITDA

30.6x

Enterprise value ratio

CURRENT RATIO

N/A

Liquidity measure

DIVIDEND YIELD

N/A

Annual yield

ROA

-0.7%

Return on Assets

GROSS MARGIN

47.7%

Gross profit margin

INDUSTRY AVERAGES — TELECOM - EQUIPMENT & ACCESSORIES

P/E 54.0x (above avg)

P/B 8.0x (sector fair)

ROCE 21.1% (below avg)

ROE 25% (sector good)

OPM 25% (sector good)

Div Yield 0.99%

D/E <20 (sector comfort)

📋 Quarterly Performance Trend

Quarter	Revenue	QoQ %	Net Profit	QoQ %	Op. Cash Flow	EBITDA Margin
Q2 FY25	₹1,074 Cr	—	₹-14 Cr	—	N/A	11.1%
Q3 FY25	₹998 Cr	-7.1%	₹-24 Cr	-71.4%	N/A	11.1%
Q4 FY25	₹-21 Cr	-102.1%	₹-39 Cr	-62.5%	N/A	N/A
Q1 FY26	₹1,019 Cr	+4952.4%	₹10 Cr	+125.6%	N/A	13.7%
Q3 FY26	₹1,257 Cr	+23.4%	₹-17 Cr	-270.0%	N/A	9.1%

📊 Year-on-Year Trend

FY	Revenue	YoY %	Net Profit	YoY %	Op. Cash Flow	YoY %
FY22	₹5,346 Cr	—	₹60 Cr	—	₹584 Cr	—
FY23	₹6,790 Cr	+27.0%	₹141 Cr	+135.0%	₹228 Cr	-61.0%
FY24	₹4,000 Cr	-41.1%	₹-51 Cr	-136.2%	₹791 Cr	+246.9%
FY25	₹3,871 Cr	-3.2%	₹-123 Cr	-141.2%	₹348 Cr	-56.0%

📈 Revenue vs Earnings

🎯 EPS: Estimate vs Actual

💰 How Sterlite Technologies Limited Makes Its Money

🏦 Snapshot of Sterlite Technologies Limited's Balance Sheet

💸 Looking into Sterlite Technologies Limited's Cash Flow

📅 Quarterly Results Source: Screener ↗

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	1,522	1,494	1,322	843	872	1,074	998	1,052	1,020	1,034	1,257
YOY Sales Growth %	2.35%	-11.23%	-29.79%	-54.97%	-42.71%	-28.11%	-24.51%	24.79%	16.97%	-3.72%	25.95%
Expenses +	1,308	1,281	1,232	812	808	957	892	927	888	905	1,137
Material Cost %	40%	45%	51%	48%	45%	51%	50%	54%	50%	48%	52%
Employee Cost %	17%	16%	19%	18%	19%	14%	15%	14%	15%	15%	13%
Operating Profit	214	213	90	31	64	117	106	125	132	129	120
OPM %	14%	14%	7%	4%	7%	11%	11%	12%	13%	12%	10%
Other Income +	30	11	12	24	8	5	-4	-24	8	12	-6
Exceptional items	8.00	6.00	-8.00	11.00	0.00	3.00	-9.00	-45.00	0.00	0.00	-15.00
Other income normal	22.00	5.00	20.00	13.00	8.00	2.00	5.00	21.00	8.00	12.00	9.00
Interest	92	95	94	71	56	62	58	65	50	55	56
Depreciation	81	85	84	81	78	79	80	79	77	80	79
Profit before tax	71	44	-76	-97	-62	-19	-36	-43	13	6	-21
Tax %	27%	27%	-22%	-15%	-23%	-26%	-33%	-7%	23%	33%	-19%
Net Profit +	52	32	-59	-82	-48	-14	-24	-40	10	4	-17
Minority share	2	2	2	0	0	0	0	0	0	0	0
Exceptional items AT	8	6	-8	11	0	3	-9	-45	0	0	-10
Profit excl Excep	44	26	-51	-93	-48	-17	-15	5	10	4	-7
Profit for PE	46	28	-49	-93	-48	-17	-15	5	10	4	-7
Profit for EPS	54	34	-57	-82	-48	-14	-24	-40	10	4	-17
YOY Profit Growth %	214%	-58%	-164%	-213%	-204%	-161%	70%	105%	121%	124%	53%
EPS in Rs	1.35	0.85	-1.43	-2.05	-0.98	-0.29	-0.49	-0.82	0.20	0.08	-0.35
Raw PDF

📊 Profit & Loss Statement Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	3,177	5,087	5,154	4,825	5,437	6,925	4,083	3,996	4,363
Sales Growth %	29.74%	60.12%	1.32%	-6.39%	12.68%	27.37%	-41.04%	-2.13%
Expenses +	2,431	3,968	4,093	4,018	4,772	6,030	3,612	3,580	3,857
Manufacturing Cost %	11%	9%	8%	9%	10%	10%	16%	14%
Employee Cost %	11%	10%	12%	13%	12%	13%	18%	15%
Other Cost %	15%	10%	11%	11%	15%	16%	14%	11%
Operating Profit	746	1,120	1,061	807	665	895	471	416	506
OPM %	23%	22%	21%	17%	12%	13%	12%	10%	12%
Other Income +	38	37	-16	58	-22	-64	74	-15	-10
Exceptional items	-1.65	2.08	-48.14	2.57	-83.00	-107.00	35.00	-48.00
Other income normal	39.27	34.78	31.73	55.26	61.00	43.00	39.00	33.00
Interest	104	105	221	203	238	311	293	241	226
Depreciation	182	195	290	285	308	309	314	316	315
Profit before tax	497	856	533	377	97	211	-62	-156	-45
Tax %	27%	32%	20%	30%	54%	40%	-8%	-21%
Net Profit +	364	578	424	265	45	127	-57	-123	-43
Minority share	-30	-15	9	10	15	14	6	0
Exceptional items AT	-1	1	-37	2	-8	-1	21	3
Profit excl Excep	365	576	462	264	53	128	-78	-126
Profit for PE	335	561	471	274	68	142	-70	-126
Profit for EPS	334	563	434	275	60	141	-51	-123
Profit Growth %	66%	67%	-16%	-42%	-75%	109%	-149%	-81%
EPS in Rs	8.34	13.98	10.74	6.95	1.51	3.54	-1.28	-2.52	-0.89
Dividend Payout %	24%	25%	33%	29%	33%	28%	0%	0%

🏦 Balance Sheet Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	80	81	81	79	80	80	80	98	98
Reserves	1,095	1,639	1,839	1,908	1,875	2,011	1,943	1,892	1,956
Borrowings +	1,178	2,067	2,577	2,944	3,475	3,834	3,376	1,926	1,921
Long term Borrowings	631	935	970	1,256	1,536	1,002	991	837	747
Short term Borrowings	463	983	1,231	1,583	1,775	2,665	2,234	981	1,061
Lease Liabilities	0	0	129	105	164	167	151	108	113
Preference Capital	0	0	0	0	0	0	0	0	0
Other Borrowings	84	150	247	0	0	0	0	0
Other Liabilities +	1,359	3,226	2,698	3,124	3,281	2,886	2,879	1,531	1,857
Non controlling int	82	95	103	98	92	4	0	0	0
Trade Payables	656	1,913	1,430	1,944	2,420	2,152	2,178	1,028	1,161
Advance from Customers	41	181	0	0	0	0	207	181
Other liability items	580	1,037	1,164	1,082	769	730	494	322	696
Total Liabilities	3,712	7,012	7,195	8,055	8,711	8,811	8,278	5,447	5,832
Fixed Assets +	1,234	2,468	3,060	3,174	3,351	3,246	3,209	2,928	2,914
Land	103	163	127	128	133	165	167	171
Building	263	523	626	655	708	863	880	879
Plant Machinery	1,688	2,666	3,150	3,295	3,478	3,723	3,897	3,916
Equipments	69	76	92	102	115	122	141	121
Computers	0	0	0	0	0	0	0	0
Furniture n fittings	63	76	92	97	118	132	136	129
Vehicles	11	12	14	12	16	16	14	10
Intangible Assets	163	221	265	450	464	422	424	363	274
Other fixed assets	41	72	294	305	525	260	269	223
Gross Block	2,402	3,809	4,659	5,043	5,557	5,703	5,928	5,812
Accumulated Depreciation	1,168	1,341	1,600	1,869	2,206	2,457	2,719	2,884
CWIP	357	419	133	227	143	129	62	23	43
Investments	175	135	333	303	92	136	123	90	213
Other Assets +	1,946	3,990	3,669	4,350	5,125	5,300	4,884	2,406	2,662
Inventories	338	590	452	626	920	832	822	736	916
Cash Equivalents	138	234	245	248	530	507	403	468	373
Loans n Advances	11	43	46	60	116	140	130	50	26
Other asset items	591	1,768	1,363	1,964	1,853	1,999	1,931	326	582
Total Assets	3,712	7,012	7,195	8,055	8,711	8,811	8,278	5,447	5,832

💰 Cash Flow Statement Source: Screener ↗

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	488	729	631	696	638	584	228	791	348
Profit from operations	522	819	1,179	1,057	844	665	790	678	529
Receivables	18	-202	-337	-221	180	-172	-233	168	-292
Inventory	-128	-7	-121	145	-113	-297	120	16	54
Payables	92	203	1,192	-387	461	414	-305	13	-261
Loans Advances	-7	-31	-7	22	1	10	0	0	0
Other WC items	67	57	-1,052	258	-691	122	-125	51	373
Working capital changes	43	20	-325	-184	-162	77	-543	248	-126
Direct taxes	-76	-111	-223	-177	-44	-158	-19	-135	-55
Cash from Investing Activity +	-232	-586	-1,172	-624	-615	-481	-56	-211	-295
Fixed assets purchased	-213	-458	-838	-420	-456	-687	-375	-280	-137
Fixed assets sold	1	2	35	37	1	95	26	33	15
Investments purchased	-35	-357	-100	-233	-181	0	-40	0	0
Investments sold	0	239	155	101	233	310	14	5	35
Interest received	12	10	17	9	10	6	10	12	9
Invest in subsidiaries	0	0	-366	-82	-234	-110	0	0	0
Investment in group cos	-7	-10	-5	-34	-31	0	0	0	0
Redemp n Canc of Shares	0	0	0	0	0	45	113	18	0
Acquisition of companies	0	0	0	0	0	0	0	0	-2
Other investing items	10	-12	-70	-2	43	-140	196	1	-215
Cash from Financing Activity +	-187	-152	570	-68	23	115	-132	-691	4
Proceeds from shares	1	1	0	0	0	0	0	1	975
Proceeds from borrowings	387	174	861	630	839	753	839	506	100
Repayment of borrowings	-383	-193	-87	-290	-336	-298	-523	-961	-717
Interest paid fin	-120	-97	-108	-221	-202	-240	-381	-366	-320
Dividends paid	-59	-32	-80	-141	-138	-79	-34	-41	0
Financial liabilities	0	0	0	-17	-18	-21	-33	-37	-34
Other financing items	-12	-6	-16	-29	-122	0	0	207	0
Net Cash Flow	69	-9	29	4	46	218	40	-111	57
Free Cash Flow	276	273	-172	313	184	-8	-121	544	226
CFO/OP	109%	113%	76%	82%	85%	112%	28%	197%	97%

📈 Key Financial Ratios

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	102	100	97	111	110	115	96	143	75
Inventory Days	122	97	87	67	95	121	92	178	134
Days Payable	164	188	281	212	296	319	238	472	188
Cash Conversion Cycle	60	8	-97	-34	-91	-83	-50	-151	22
Working Capital Days	-16	-5	-36	-48	-33	-29	-46	-87	-63
ROCE %	20%	27%	30%	19%	12%	8%	11%	3%	3%

🏭 Industry Peers — Telecom - Equipment & Accessories

#	Company	CMP	P/E	Mkt Cap	ROCE	Qtr Profit	Score
1	Valiant Commun. ★	₹908	51.3	₹1,039	21.1%	+1241.5%	67
2	ADC India	₹1,621	40.6	₹746	46.6%	+5.2%	67
3	Umiya Buildcon	₹87	4.1	₹163	29.1%	+47.4%	59
4	Frog Innovations	₹170	15.4	₹264	21.5%	-119.2%	54
5	Telogica	₹13	88.2	₹84	22.7%	-12.5%	53
6	Optiemus Infra.	₹422	56.6	₹3,738	14.4%	-18.5%	53
7	ITI	₹303	—	₹29,203	-1.3%	+68.7%	50
8	Birla Cable	₹160	63.9	₹479	5.1%	+159.3%	48
9	Sterlite Tech.	₹283	1149.4	₹13,792	2.9%	+53.3%	26

★ Valiant Commun. ranks higher on combined P/E, ROCE, and growth metrics in Telecom - Equipment & Accessories

🏛 Shareholding Pattern

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	44.17%	44.16%	44.41%	44.46%	44.45%	44.44%
FIIs	8.71%	7.28%	6.74%	11.28%	10.93%	11.47%
DIIs	9.42%	11.60%	11.33%	10.79%	11.04%	10.84%
Public	37.70%	36.95%	37.52%	33.46%	33.56%	33.24%
No. of Shareholders	2,44,033	2,38,357	2,62,629	2,31,127	2,19,889	2,12,162

🟢 CATALYSTS

🏆Low Beta (0.59): Less volatile than market — defensive play.

💹Sector Opportunity: Technology / Communication Equipment — positioned in growth sector.

🔴 RISKS

📜High P/E (4717.3x): Well above sector expensive threshold of 60x — leaves little room for error.

💰High Debt/Equity (94%): Above sector threshold of 60% — leverage risk.

🔓Below Analyst Target: CMP above mean target — limited upside consensus.

⚔Revenue Decline (-0.3%): Top-line shrinking — negative trend.

️Loss-Making: Negative profit margin — path to profitability unclear.

🕸 Factor Analysis · Radar

Momentum 8/10
1M +60.5%, 6M +129.9%, RSI 71, MACD bullish, Above 200DMA

Sentiment 3/10
Analyst upside -18.7%, Rec: none

Value 2/10
P/E 4717.3, P/B 6.7, EV/EBITDA 30.6

Quality 3/10
Margin -1.0%, D/E 94

Low Volatility 6/10
Beta 0.59, Ann. vol 66%

🎯 Decision Matrix

Action	If Stock Rises	If Stock Falls
BUY	Benefit from potential re-rating	Fundamentals provide base support; P/E 4717x vs sector median 51x is a risk
HOLD	Retain existing position; wait for better entry; FII stake rising (+0.54%)	Miss further upside if momentum continues; 1M return of +60.5% shows momentum
SELL	Lock in +336.3% 1Y return; redeploy into Valiant Commun. at lower P/E	Avoid further drawdown; P/E compression risk at 4717x

REASONS TO BUY

FII stake rising (+0.54%) — signals institutional confidence

REASONS TO SELL / AVOID

P/E of 4717.3x is 92.0x the sector median of 51x
Valiant Commun. offers lower P/E (51.3) with ROCE of 21.1% in the same sector
1Y return of +336.3% — profit booking opportunity
Trading above analyst target — consensus sees -18.7% downside

📰 Latest News

Sterlite Technologies Ltd (BOM:532374) Q3 2026 Earnings Call Highlights: Strong Revenue Growth ...

GuruFocus.com · 2026-01-24T01:02

Sterlite Technologies Ltd (BOM:532374) Q2 2026 Earnings Call Highlights: Revenue Growth and ...

GuruFocus.com · 2025-11-06T19:03

RECOMMENDATION

SELL

COMPOSITE SCORE

25/100

Sterlite Technologies Limited trades at ₹283.04 with a composite risk score of 25/100. The stock scores 0/25 on valuation, 0/25 on financial health, 7/25 on growth, and 18/25 on technicals. The company is currently loss-making with negative return on equity.

The stock is trading near or above analyst consensus targets. Revenue growth is at -0.3% — a concern.

Within Telecom - Equipment & Accessories, Valiant Commun. (P/E 51.3, ROCE 21.1%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Elevated risk for Technology — consider exiting. The current recommendation is SELL.

EXPENSIVE LOSS-MAKING