Sterlite Technologies

Sterlite Technologies Limited (Formerly Sterlite Tech)[5] is an Indian optical and digital solutions company, headquartered in Mumbai. It is listed on Bombay Stock Exchange and National Stock Exchange of India. It has 636[6] patents and is active in over 150 countries. The company is specialized in optical networking which consists of optical fiber and cables, hyper-scale network design, and deployment and network software.

Sterlite Technologies Limited
STL
TypePublic
ISININE089C01029
Industry
Founded1988 (1988)[1]
FounderAnil Agarwal
Headquarters
Mumbai, Maharashtra
,
India[2]
Area served
Worldwide
Key people
Products
ServicesOptical fibre infrastructure, passive infrastructure, access networks, metro, FTTH, wi-fi, IBS, optics & MPLS core network, enterprise services, fixed broadband, telecom software
RevenueIncrease ₹5,087 million (US$64 million)[4]
Increase ₹5,662 million (US$71 million)[4]
ParentVedanta Limited
SubsidiariesClearCom
Websitewww.stl.tech

History

The company was founded as Sterlite Telecom Systems in March 2000, primarily engaged in the production of telecommunication cables. By August 2000, the company's name was changed to Sterlite Optical Technologies.[7] It was formed following the demerger telecom division from Sterlite Industries, now known as Vedanta Limited.[8]

During the fiscal year 2005-2006, the company raised its installed capacity for Fiber Optic Cables from 1.4 million FKM to 2.4 million FKM. Additionally, in the same year, the company initiated a new project to manufacture Broadband Access Networks.[7]

Between 2006 and 2007, the company expanded its installed capacity for Copper Telecom Cables by 2 million CKM to reach a total of 9.5 million CKM. Similarly, the capacity for Fiber Optic Cables was raised by 822,528 FKM to reach 3,222,528 FKM, and the capacity for Broadband Access Networks was increased by 120,000 to reach 720,000.[7]

In 2007, the name of the company again changed to Sterlite Technologies.[9]

Operations

As of 2023, the company operates manufacturing facilities in 6 different locations, including Aurangabad and Pune in Maharashtra, Silvassa in Dadra & Nagar Haveli, and Haridwar in Uttarakhand.[7] It has the first optical fiber cable plant in India to receive zero waste to landfill certification[10]

As of 2020, STL invested in 5G assembling ecosystem as a part of Make in India initiative.[11]

Geographical presence

Along with these manufacturing sites, STL has 2 state-of-the-art development centres and 20+ sales and marketing offices across the world as of March 31, 2018, with major presence in Australia, Brazil, China, Europe (Italy), the Middle East and the United States.[12]

Mergers and acquisitions
  • On 24 September 2015, Sterlite Technologies Limited acquired Elitecore Technologies in an all cash deal worth ₹180 crore.[13]
  • On 20 July 2018, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Metallurgica Bresciana in an all cash deal worth €47 million.[14]
  • On 26 September 2019, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Impact Data Solutions (IDS) Group for an enterprise value of $15 million.[15]
  • On 9 January 2020, Sterlite Technologies Limited acquired 12.8% stake in Israel-based ASOCS.[16]
  • On 2 November 2020, Sterlite Technologies Limited acquired 100% stake in Optotec S.p.A, a leading optical interconnect company at an enterprise value of €29 million.[17]
  • In June 2021, STL acquired a UK-based network integration company, Clearcomm for £15.5 million.[18]

Initiatives

Jeewan Jyoti Women Empowerment Programme (JJWEP)

In 2014, STL established the Jeewan Jyoti Women Empowerment Programme (JJWEP), to bring about gender equality, create decent work opportunities, economic growth, and thus, alleviation of poverty in several villages[19]

Medical Mobile Unit (MMU)

STL initiated MMU programme in partnership with Indian red cross society across 24 remote villages[20]

STL Garv

In 2020, STL Garv launched BharatNet-based platform to deliver telemedicine, e-tutoring, government-to-citizen, and assisted e-commerce services in rural India.[21][22]

Awards and recognitions

Controversies

In 2002, Sterlite Technologies Limited was the subject of a major lawsuit,[24] by Fitel USA, a subsidiary of Furukawa Electric charging Sterlite Technologies Limited with infringement of a number of optical fiber patents including those related to manufacturing fiber with low polarization mode dispersion. This lawsuit was settled in Jan 2010.[25]

References
  1. "Corporate profile" (PDF). sterlitetech.com. Retrieved 5 October 2010.
  2. "Contact Us | STL Tech". stl.tech. Retrieved 15 December 2021.
  3. "STL appoints Ankit Agarwal Managing Director". Bloomberg News.{{cite web}}: CS1 maint: url-status (link)
  4. "BSE Plus". Bseindia.com. Retrieved 5 October 2010.
  5. "Sterlite Technologies Limited". National Stock Exchange of India.
  6. "Patents Assigned to Sterlite Technologies Limited – Justia Patents Search".
  7. "Latest Sterlite Technologies Ltd News, Photos, Latest News Headlines about Sterlite Technologies Ltd-The Hindu BusinessLine". www.thehindubusinessline.com. Retrieved 29 April 2023.
  8. "Share/Stock Price Quotes of BSE/NSE & Sensex/Nifty Companies - IndiaInfoline.com". indiainfoline.com. Retrieved 29 April 2023.
  9. "Sterlite Technologie: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Sterlite Technologie - NDTV". www.ndtv.com. Retrieved 29 April 2023.
  10. "Sterlite Tech is 1st OFC plant in India to receive Zero Waste to Landfill certification". The Asian Age. 4 March 2019. Retrieved 24 September 2019.
  11. "Sterlite Tech says investing in 5G to develop Make in India ecosystem – ET Telecom". telecom.economictimes.indiatimes.com. 23 July 2020.
  12. "Transmission Network Provider enabling Bharatnet - STL". stl.tech. Retrieved 24 September 2019.
  13. "Sterlite Technologies buys Elitecore for Rs 180 crore". @businessline. 23 September 2015. Retrieved 25 March 2020.
  14. "Sterlite Tech arm completes acquisition of Metallurgica Bresciana". The Economic Times. 23 July 2018. Retrieved 25 March 2020.
  15. "Sterlite Technologies acquires UK-based IDS Group". The Financial Express. 26 September 2019. Retrieved 25 March 2020.
  16. "Sterlite Technologies shares rise 3.50% on stake buy in Israel-based ASOCS". @businessline. 10 January 2020. Retrieved 25 March 2020.
  17. "Sterlite Technologies to acquire Italy-based Optotec". The Economic Times. 2 November 2020. ISSN 0013-0389. Retrieved 23 March 2023.
  18. Kar, Ayushi (22 July 2021). "Sterlite Tech to acquire UK's Clearcomm for £15.5 million". www.thehindubusinessline.com. Retrieved 23 March 2023.
  19. "Creating Value in Everyday Life STL's CSR Journey - VOICE and DATA | DailyHunt Lite". Dailyhunt. Retrieved 24 September 2019.
  20. Admin (21 February 2019). "Sterlite Tech's Magic Medical Van". STL Blog. Retrieved 24 September 2019.
  21. "Expanding Internet Adoption in Rural India". MIT Sloan. Retrieved 23 March 2023.
  22. www.ETTelecom.com. "Sterlite launches an industry-first digital inclusion solution 'STL Garv' - ET Telecom". ETTelecom.com. Retrieved 23 March 2023.
  23. www.ETCIO.com. "Winners of ETCIO Annual Conclave 2019 - ET CIO". ETCIO.com. Retrieved 24 September 2019.
  24. www.ofsoptics.com press release
  25. OFS. "OFS and Sterlite Settle Lawsuit" (Press release). PR Newswire. Retrieved 4 November 2019.
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