Sterlite Technologies reports INR25.29B revenue and multiyear supply deals

A record quarter for optical connectivity comes with supply agreements whose delivery windows stretch to the end of the decade. Sterlite Technologies Limited NSESTLTECH BOM532374, a manufacturer of optical fibre, cable and connectivity products, reported Friday September-quarter revenue of INR25.29 billion.

Revenue rose approximately 145 per cent from the same quarter of 2025. Profit after tax reached INR5.17 billion, although a one-time US tariff refund contributed to the earnings increase. Revenue also increased from INR19.10 billion in the June quarter of 2026. Profit after tax in that preceding quarter was INR1.97 billion.

The Oct. 23 results include a US$1.2 billion hyperscaler supply agreement covering calendar 2026 through 2030. Sterlite lists it among first-half order wins; the release does not establish that the entire value is incremental business announced with these results.

Shares closed 2.39 per cent higher at INR820 on the National Stock Exchange at 3:30 p.m. IST Friday, according to NSESTLTECH. That price is in Indian rupees, the trading currency shown by the quote page.

Supply Agreements Cover Different Delivery Windows

Sterlite's Oct. 23 results release describes the US$1.2 billion arrangement as a multiyear long-term agreement for optical connectivity products. It gives an approximate local-currency value of INR115 billion and identifies the customer only as a hyperscaler.

The same release lists a separate US$1.11 billion Product Award Letter for optical connectivity products. Its supply period runs from fiscal 2027 through fiscal 2029, a different timetable from the calendar-year window attached to the larger agreement.

The release does not identify either hyperscaler or give quarterly shipment schedules for those arrangements. It also does not specify how much of the US$1.2 billion value represents additional scope over earlier supply arrangements, limiting what can be concluded about incremental revenue.

A US$210 million agreement with a telecom infrastructure company covers high-density optical fibre cables. Deliveries span calendar 2027 through 2029, according to the Oct. 23 release. Sterlite also lists an INR9.6 billion multiyear optical cable agreement with an Indian telecom operator.

The open order book stood at INR352.74 billion at Sept. 30. That is a stock of future business across delivery periods, separate from the INR25.29 billion of revenue recognized in the September quarter.

"Q2 FY’27 is our best quarter yet, with the highest revenue and EBITDA in STL’s history," managing director Ankit Agarwal said in the release.

Sterlite's optical-connectivity attach rate reached 24 per cent in the first half of fiscal 2027. Management links the record quarter to a growing share of integrated connectivity solutions as well as demand for AI infrastructure, but the release does not allocate quarterly revenue to individual hyperscaler agreements.

A Tariff Refund Lifts Reported Earnings

The Oct. 23 financial table puts quarterly earnings before interest, taxes, depreciation and amortization at INR8.46 billion. It explicitly includes a one-time net tariff-refund gain of INR1.61 billion, so the reported total contains a benefit beyond ordinary quarterly operations.

Subtracting that disclosed gain leaves INR6.85 billion of EBITDA. This calculation separates the refund from reported EBITDA; it does not establish an outlook for profitability over the agreements’ delivery periods.

The comparable September 2025 quarter generated revenue of INR10.34 billion and profit after tax of INR40 million. EBITDA in the September 2025 quarter was INR1.41 billion, according to the same table. Sterlite says all figures in that table cover continuing operations, which defines the scope of these comparisons.

The company also describes its September-quarter balance sheet as net debt-free. The results release does not give a contract-by-contract cash collection timetable alongside the multiyear supply values.

Nokia Corporation HELNOKIA NYSENOK, a supplier of optical and IP networking equipment, reported €1.5 billion in AI and cloud orders on Oct. 22. Nokia also plans an additional €400 million of working capital investment during 2026 to secure supply and support growth.

Mugglehead's earlier coverage of Nokia's orders and cash outlook detailed that funding requirement alongside growing networking demand. Nokia's American depositary receipts closed at US$8.14 at 4 p.m. EDT Friday, according to NYSENOK.

Read more: Nokia reports €605M comparable operating profit and €1.5B in AI and cloud orders

For Sterlite, calendar 2027 brings the start of the telecom infrastructure supply window disclosed in the Oct. 23 release. That is the next dated delivery test for part of its order book; the release provides no quarterly shipment milestones within that window.