Sterlite Tech share price jumps over 15% after securing ₹2,631 crore BharatNet contract from BSNL
Sterlite Technologies stock price in focus today: Shares of Sterlite Technologies, one of the largest manufacturers of Optical Fiber and Optical Fiber Cables, surged 15.2% in intraday trade on Thursday, June 12, hitting a 4-week high of ₹ 88.7 apiece.
The rally followed the company's announcement, via a regulatory filing on June 11, that it had signed an agreement with Bharat Sanchar Nigam Limited (BSNL), in consortium with Dilip Buildcon, for ₹ 2,631.14 crore telecom project.
The company said the contract was secured through its demerged Global Services business, STL Networks. The project involves the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network for BharatNet in the Jammu & Kashmir and Ladakh telecom circles.
The order will require three years for construction, and ten years of maintenance contract, the company said, involving ₹ 1620.50 crore in capex, operating expenditure of ₹ 972.30 crore for newly constructed network and ₹ 38.33 crore as opex for existing network.
In Q4 FY25, the company's Optical Networking business reported 26% year-on-year revenue growth and a 110% increase in EBITDA compared to Q4 FY24. This growth was driven by strong momentum in the Enterprise Connectivity and Data Centre businesses, along with a 22% attach rate in the Optical Connectivity (OC) segment.
The company reported revenues of ₹ 1,052 crore and ₹ 3,996 crore for the full FY25 across its business units—Optical Networking and Digital. STL delivered an EBITDA margin of 13.8% and EBITDA of ₹ 146 crore, the highest in the past six quarters.
In its earnings filing, the company stated that the Enterprise and Data Centre businesses saw robust demand in Europe and India, as STL supported key players in these regions to expand their end-customer connectivity solutions.
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