Latest news with #SterlingTools
Business Standard
07-08-2025
- Business
- Business Standard
Sterling Tools consolidated net profit declines 51.17% in the June 2025 quarter
Sales decline 31.81% to Rs 192.08 crore Net profit of Sterling Tools declined 51.17% to Rs 8.99 crore in the quarter ended June 2025 as against Rs 18.41 crore during the previous quarter ended June 2024. Sales declined 31.81% to Rs 192.08 crore in the quarter ended June 2025 as against Rs 281.68 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 192.08281.68 -32 OPM % 11.4711.37 - PBDT 22.2931.61 -29 PBT 12.2823.93 -49 NP 8.9918.41 -51
Time of India
14-05-2025
- Automotive
- Time of India
Sterling Tools partners with UK-based Advanced Electric Machines to produce magnet-free traction motors for EVs
Sterling Tools , through its subsidiary Sterling Gtake E-Mobility Ltd (SGEM), on Wednesday announced its entry into the manufacturing and marketing of rare earth magnet-free traction motors for electric vehicles . The Haryana-based company has signed a technology licensing agreement with UK-based Advanced Electric Machines (AEM) Ltd to produce these motors at its Faridabad plant, aiming to reduce reliance on China and bolster India's EV industrial supply chain. SGEM will serve all segments of the traction motors market, which is expected to grow to approximately ₹15,000 crore by 2030. The company plans to expand local manufacturing of EV solutions, strengthening India's industrial supply chain. Anil Aggarwal , Chairman of Sterling Tools, stated, "The diversification into rare earth magnet-free motors is in line with Sterling's ambition to develop Powertrain expertise to serve the Indian auto industry." The partnership aims to create high-quality powertrain solutions that cater to India's growing need to reduce its tailpipe emissions, while also supporting the country's self-reliance and sustainability goals. James Widmer, Co-founder and Chief Executive Officer of Advanced Electric Machines, said, "India's automotive and zero-emission manufacturing market offers immense potential for growth and innovation. Through our partnership with Sterling Tools, we are bringing our proven expertise in magnet-free motors to Indian customers across a wide range of vehicle categories."
Business Standard
14-05-2025
- Automotive
- Business Standard
Sterling Tools soars after inking technology pact with UK's Advanced Electric Machines
Sterling Tools jumped 6.30% to Rs 315.55 after the company announced the signing of a technology licensing agreement with UK-based Advanced Electric Machines (AEM) to manufacture magnet free motors in India. The company, through its subsidiary Sterling Gtake (SGEM), would develop, manufacture and market Magnet Free traction motors for electric vehicles. The production activities would be undertaken at the companys plant in Faridabad. By introducing a mature and commercially viable rare earth magnet-free technology, SGEM will offer its customers an alternative to the China dependent permanent magnet supply chain. Through this technology licensing agreement, SGEM will serve all segments of the traction motors market that is expected to grow to approx. Rs 15,000cr by 2030. The business plan also calls for the joint development of integrated motor and controller solutions. Anil Aggarwal, chairman, Sterling Tools, said, Sterlings foray into rare earth magnet-free motors demonstrates the Groups commitment to being a technology leader and an industry pioneer. We are expanding beyond MCUs to being a complete solution provider and meeting the EV Industrys growing demand for advanced technology. EV sub-systems are being increasingly consolidated into multifunction units and Sterling will also offer our customers integrated motor and controller solutions. The diversification into Rare Earth Magnet-Free motors is in line with Sterlings ambition to develop Powertrain expertise to serve the Indian Auto Industry. Sterling Tools has also announced its earnings for the quarter and the year ended on 31 March 2025. The company has reported 45.8% drop in consolidated net profit to Rs 8.8 crore as total income fell by 23.9% to Rs 205.7 crore in Q4 FY25 as compared with Q4 FY24. EBITDA declined by 23.1% year-over-year (YoY) to Rs 24.5 crore during the period under review. EBITDA margin, however, expanded by 10 basis points to 11.9% in Q4 FY25. Profit before tax in Q4 FY25 stood at Rs 11.9 crore, down by 44.2% from Rs 21.3 crore in Q4 FY24. Sterling Tools manufacture high tensile and premier cold forged hi-tensile fasteners catering to the passenger cars, two wheelers, commercial vehicles, agri-equipment and construction equipment segments. The companys client portfolio comprises leading OEMs in the domestic market and international markets.
Time of India
14-05-2025
- Automotive
- Time of India
Sterling Tools to manufacture, market rare earth magnet-free traction motors for electric vehicles
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Automotive component maker Sterling Tools through its subsidiary, Sterling Gtake E-Mobility Ltd (SGEM), on Wednesday announced its entry into the manufacturing and marketing of rare earth magnet-free traction motors for electric vehicles. The company has signed a technology licensing agreement with UK-headquartered Advanced Electric Machines (AEM) Ltd to manufacture these motors at its Faridabad plant in Haryana, it move will help reduce customers' dependency on China with a permanent supply chain alternative, Sterling Tools said."The diversification into rare earth magnet-free motors is in line with Sterling's ambition to develop Powertrain expertise to serve the Indian auto industry," said Anil Aggarwal, Chairman, Sterling Tools Tools plans to further expand the local manufacturing of EV solutions, strengthening India's industrial supply chain, he this technology licensing agreement, SGEM will serve all segments of the traction motors market that is expected to grow to approximately Rs 15,000 crore by 2030, it development will enable domestic companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the auto industry, the company said."We are expanding beyond motor control units to being a complete solution provider and meeting the EV industry's growing demand for advanced technology. EV sub-systems are being increasingly consolidated into multifunction units and Sterling will also offer our customers integrated motor and controller solutions ," said Aggarwal."India's automotive and zero-emission manufacturing market offers immense potential for growth and innovation. Through our partnership with Sterling Tools, we are bringing our proven expertise in magnet-free motors to Indian customers across a wide range of vehicle categories," said James Widmer, Co-founder and Chief Executive Officer of Advanced Electric two partners together can create high-quality powertrain solutions that cater to India's growing need to reduce its tailpipe emissions, while also supporting the country's self-reliance and sustainability goals, he added.
Time of India
14-05-2025
- Automotive
- Time of India
Sterling Tools reports 10.6% rise in FY25 total income
Sterling Tools Limited (STL), a listed manufacturer of automotive fasteners , reported a 10.6 per cent year-on-year increase in its consolidated total income for the financial year ending March 31, 2025, reaching ₹1,038 crore. The company declared a 200 per cent dividend for the year. The company's wholly owned subsidiary, Sterling Gtake E-Mobility Limited (SGEM), contributed significantly to the revenue growth, despite a slowdown in the fourth quarter (Q4) due to a decline in orders from Ola Electric following its shift to in-house motor production for Gen3 models. Adjusted consolidated EBITDA rose by 13.8 per cent to ₹132.4 crore, with a margin of 12.8 per cent. Consolidated profit after tax grew 5.3 per cent to ₹58.3 crore, with a PAT margin of 5.6 per cent. Stable standalone performance and future plans On a standalone basis, STL reported a 6.2 per cent increase in income to ₹651.6 crore. EBITDA stood at ₹94.8 crore, up 4.8 per cent year-on-year, with a margin of 14.5 per cent. Standalone profit after tax increased by 10.5 per cent to ₹42.9 crore. Atul Aggarwal, Managing Director, Sterling Tools, said that the company is focusing on customer and product diversification at SGEM. A recent technology licensing agreement will enable SGEM to develop and manufacture rare earth-free motors in India. The subsidiary is also working on integrated motor and controller solutions, as well as expanding its Motor Control Unit business across two-wheeler, three-wheeler, and commercial vehicle segments. By Q2 FY26, Sterling Tools plans to begin production of HVDC contactors and relays through its subsidiary STML, in collaboration with Kunshan GLVAC Yuantong. Discussions are also underway with MotiveLink Co. Ltd. for a potential joint venture to manufacture magnetic components in India. The company expects the standalone business to maintain high single-digit growth, with its ongoing investments aimed at supporting domestic manufacturing and reducing import dependency.
