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Sterlite Tech.

Q2 FY26Telecom - Equipment & Accessories

Sterlite Tech. Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹866

Market cap₹44.5K Cr

P/E188.4

Updated16 Oct 2026

Read5 min read

The short version

STL expects continued momentum and growth in its US market despite tariff challenges, buoyed by robust demand from telecom operators, data centers, and upcoming BEAD rural fiber rollout. - The company anticipates multi-year build cycles in North America with increasing demand for fiber and connectivity solutions. - Order books have been growing, with strong inflows signaling sustained revenue visibility and confidence in scaling operations. - They aim to increase capacity utilization (target ~80%) in the optical business to achieve ~20% EBITDA margins. - Digital business currently running at Rs. STL aims to move towards >80% capacity utilization in optical business, targeting 20% EBITDA margins in upcoming quarters. - The digital business currently runs at Rs.

From Sterlite Tech.'s Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

STL expects continued momentum and growth in its US market despite tariff challenges, buoyed by robust demand from telecom operators, data centers, and upcoming BEAD rural fiber rollout.
The company anticipates multi-year build cycles in North America with increasing demand for fiber and connectivity solutions.
Order books have been growing, with strong inflows signaling sustained revenue visibility and confidence in scaling operations.
They aim to increase capacity utilization (target ~80%) in the optical business to achieve ~20% EBITDA margins.
Digital business currently running at Rs. 65 crore revenue with EBITDA positive and targeting cash profitability through revenue growth and cost management.
Capex for FY '26 is estimated at Rs. 115 crore, with future capex plans depending on demand.

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Profitability & Margins

STL aims to move towards >80% capacity utilization in optical business, targeting 20% EBITDA margins in upcoming quarters.
The digital business currently runs at Rs. 65 crore revenue with EBITDA positive break-even; next goal is cash profitability (no specific timeline).
Despite tariff headwinds, underlying operational profitability is expected to improve, supported by operational efficiencies and favorable product mix.
Order book momentum is strong with intent to scale up, particularly in the US market, aiming to be among the world’s top 3 players.
The company expects sustainable margin improvement after tariff resolutions and continued cost optimization.

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Capital Expenditure Plans

For FY '26, Sterlite Technologies is planning a total CAPEX outlay of around Rs. 115 crores, including investments in R&D.
No specific guidance has been provided yet for CAPEX in FY '27.
Current investments focus on strengthening R&D capabilities to build new products and solutions.
The company is also focusing on expanding its data center and optical connectivity product portfolio through internal development and strategic talent acquisitions.
No immediate plans to add significant new manufacturing capacity in the US or India unless there is a clear demand increase; the current strategy is to optimize and fully utilize existing capacities.

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Fundraising & Capital Structure

There is no explicit mention of any current or planned new fundraising through debt or equity in the document.
The company reported a focus on reducing debt: aiming to bring net debt to EBITDA ratio below 2x.
Finance cost has been discussed, with an expected range of Rs. 47-Rs. 52 crores for coming quarters, with plans to reduce debt post Q4.
No guidance on future CAPEX for FY '27 was provided, indicating caution on capital allocation.

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Order Book & Pipeline

The open order book stood at Rs. 5,188 crores in Q2 FY '26, up from Rs. 4,888 crores in Q1 FY '26.
Rs. 820 crores of the order book is selected for execution in Q3 FY '26.
The remaining Rs. 4,368 crores is scheduled for execution over FY '26 and beyond.
The company has seen continued momentum in order inflows, reflecting strong market confidence.
The order book growth underlines robust revenue visibility and supports a positive growth outlook.
While the management does not provide specific future forecasts by market, they expect order book scaling to continue.

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Sterlite Tech. — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.4K Cr, net profit ₹59 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Sterlite Tech.'s management said in earlier quarters

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Frequently Asked Questions

What were Sterlite Tech. Q2 FY26 results?

STL expects continued momentum and growth in its US market despite tariff challenges, buoyed by robust demand from telecom operators, data centers, and upcoming BEAD rural fiber rollout. - The company anticipates multi-year build cycles in North America with increasing demand for fiber and connectivity solutions. - Order books have been growing, with strong inflows signaling sustained revenue visibility and confidence in scaling operations. - They aim to increase capacity utilization (target ~80%) in the optical business to achieve ~20% EBITDA margins. - Digital business currently running at Rs. STL aims to move towards >80% capacity utilization in optical business, targeting 20% EBITDA margins in upcoming quarters. - The digital business currently runs at Rs.

What is Sterlite Tech. share price analysis?

Sterlite Tech. currently shows a neutral. The stock trades at a P/E of 188.4 with a market cap of ₹44,512 Cr. Investors should review the full earnings analysis for detailed insights.

Is Sterlite Tech. planning capital expenditure?

For FY '26, Sterlite Technologies is planning a total CAPEX outlay of around Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.