Sterlite Technologies to invest ₹1,500cr in manufacturing and R&D
Sterlite Technologies (STL) just announced a huge ₹1,500 crore investment over the next three years to ramp up manufacturing and research and development.
Why? Demand for optical fiber is booming thanks to AI data centers, 5G, and BharatNet projects.
The investment is backed by an improved balance sheet after a ₹1,500-crore qualified institutional placement.
STL order book tops ₹18,000cr
STL's order book has shot past ₹18,000 crore after their best quarter in years, including a $1 billion multi-year deal.
MD Ankit Agarwal says they're focused on long-term partnerships with telecom giants and data centers worldwide.
India's data center capacity is set to jump in the next few years, which means even more need for fiber.
STL 9% market share outside China
Right now, STL holds 9% of the world's optical fiber market (outside China), but they're aiming higher by innovating new products and strengthening ties with suppliers and customers.
They're also diversifying their cable solutions to stay ahead despite global cost challenges.