Sterlite Technologies

Last updated

Sterlite Technologies Limited
STL
Company type Public
ISIN INE089C01029
Industry
Founded1988;36 years ago (1988) [1]
Founder Anil Agarwal
Headquarters
Pune, Maharashtra
,
India [2]
Area served
Worldwide
Key people
Products
ServicesOptical fibre infrastructure, passive infrastructure, access networks, metro, FTTH, wi-fi, IBS, optics & MPLS core network, enterprise services, fixed broadband, telecom software
RevenueIncrease2.svg₹5,087 million (US$61 million) [4]
Increase2.svg₹5,662 million (US$68 million) [4]
Parent Vedanta Limited
Subsidiaries ClearCom
Rating

Sterlite Technologies Limited (formerly Sterlite Tech) [7] is an Indian optical and digital technology company, headquartered in Pune. It is listed on Bombay Stock Exchange and National Stock Exchange of India. It has 636 [8] patents and is active in over 150 countries. The company is specialized in optical networking which consists of optical fiber and cables, hyper-scale network design, and deployment and network software.

Contents

History

The company was founded as Sterlite Telecom Systems in March 2000, primarily engaged in the production of telecommunication cables. By August 2000, the company's name was changed to Sterlite Optical Technologies. [9]

During the fiscal year 2005-2006, the company raised its installed capacity for Fiber Optic Cables from 1.4 million FKM to 2.4 million FKM. Additionally, in the same year, the company initiated a new project to manufacture Broadband Access Networks. [9]

Between 2006 and 2007, the company expanded its installed capacity for Copper Telecom Cables by 2 million CKM to reach a total of 9.5 million CKM. Similarly, the capacity for Fiber Optic Cables was raised by 822,528 FKM to reach 3,222,528 FKM, and the capacity for Broadband Access Networks was increased by 120,000 to reach 720,000. [9]

In 2007, the name of the company again changed to Sterlite Technologies. [10]

In 2012, as per a study released by Indian Institute of Management Bangalore, the company solidified its position as a major player in India's optical fiber industry by securing a significant 50% market share. [11]

Operations

As of 2023, the company operates manufacturing facilities in 6 different locations, including Aurangabad and Pune in Maharashtra, Silvassa in Dadra & Nagar Haveli, and Haridwar in Uttarakhand. [9] It has the first optical fiber cable plant in India to receive zero waste to landfill certification [12]

The Aurangabad plants, located in Waluj MIDC and Shendra MIDC, primarily specialize in the production of single mode optical fibers that transmit signals at 1490 nm wavelength in compliance with internet communication standards. [13]

As of 2020, STL invested in 5G assembling ecosystem as a part of Make in India initiative. [14]

Geographical presence

Along with these manufacturing sites, STL has 2 development centres and 20+ sales and marketing offices across the world as of March 31, 2018, with major presence in Australia, Brazil, China, Europe (Italy), the Middle East and the United States. [15]

Research and development

STL researches, conceptualizes, and manufactures telecommunications and specialized optical fibers. [16] As per the Cellular Operators Association of India, it is the sole domestic firm that has cable production standards on par with the global level through substantial investments in research and development, as well as intellectual property advancements. [17]

In 2019, the company partnered with the Department of Electrical Engineering, Indian Institute of Technology, Madras by signing a memorandum of understanding (MoU) to support a 5G network research professorship. Since 2020, the professor in this position has been teaching and researching on 5G technology by combining IIT-M's research and domain knowledge with STL's industry expertise. [18] [19]

During 2020, STL initiated a partnership with the Device Realization Laboratory at the Massachusetts Institute of Technology to delve into the core manufacturing process. Subsequently, in May 2022, the research focused on identifying the underlying factors contributing to fiber breaks. [13]

Publications

Case studies

  • Sinha, Abhishek; Ramdas, Rajani; Pradeep, K.V. (2022). "Sterlite Technologies Ltd.: To Buy or Not to Buy is the Question". Asian Case Research Journal. 26 (2). Singapore: Asian Case Research Journal, World Scientific: 127–144. doi:10.1142/S0218927522500055.
  • Sahay, Arvind; Tiwari, Tara (2023). Sterlite Technologies Limited (STL): From Cables to Solution Selling. London: Sage Knowledge. ISBN   9781529620108.

Environmental, social, and governance

Carbon footprint

In March 2023, STL declared its adoption of the Science Based Targets initiative (SBTi) to enhance the transparency and specificity of its carbon monitoring, control, and disclosure. [20] [21] Regarding its carbon footprint, the company reported a total of 237,035 tCO2 emissions in the fiscal year 2022, encompassing Scope 1, 2, and 3 emissions. [21]

Wastewater management

In 2022, STL implemented the zero liquid discharge framework at its six manufacturing plants in Aurangabad and Silvassa, Maharashtra. The company recycled over 145,000 cubic meters of wastewater in the same fiscal year as part of this initiative. The process includes sewage treatment, industrial wastewater treatment, and multi-effective evaporator (MEE) plants. These operations are digitally monitored through SCADA dashboards. [22]

Mergers and acquisitions

Philanthropy

Jeewan Jyoti Women Empowerment Programme (JJWEP)

In 2014, STL established the Jeewan Jyoti Women Empowerment Programme (JJWEP), to bring about gender equality, create decent work opportunities, economic growth, and thus, alleviation of poverty in several villages [29]

Medical Mobile Unit (MMU)

STL initiated MMU programme in partnership with Indian red cross society across 24 remote villages [30]

STL Garv

In 2020, STL Garv launched BharatNet-based platform to deliver telemedicine, e-tutoring, government-to-citizen, and assisted e-commerce services in rural India. [31] [32]

Awards and recognitions

Controversies

In 2002, Sterlite Technologies Limited was the subject of a major lawsuit, [35] by Fitel USA, a subsidiary of Furukawa Electric charging Sterlite Technologies Limited with infringement of a number of optical fiber patents including those related to manufacturing fiber with low polarization mode dispersion. This lawsuit was settled in Jan 2010. [36]

In 2024, a district court of Columbia, South Carolina ruled that Sterlite Technologies unjustly benefited from acquiring Prysmian Group's trade secrets and awarded $96.5 million in damages against the company. [37] [38]

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References

  1. ↑ "Corporate profile" (PDF). sterlitetech.com. Retrieved 5 October 2010.
  2. ↑ "Contact Us | STL Tech". stl.tech. Retrieved 15 December 2021.
  3. ↑ "STL appoints Ankit Agarwal Managing Director". Bloomberg News .
  4. 1 2 "BSE Plus". Bseindia.com. Retrieved 5 October 2010.
  5. ↑ "Rating Rationale Sterlite Technologies Limited Ratings continues on Watch Developing Rated amount enhanced for Bank Debt". CRISIL . 24 August 2023. Retrieved 1 September 2023.
  6. ↑ "Sterlite Technologies Limited: Ratings reaffirmed". ICRA Limited . 25 April 2023. Retrieved 1 September 2023.
  7. ↑ "Sterlite Technologies Limited". National Stock Exchange of India .
  8. ↑ "Patents Assigned to Sterlite Technologies Limited – Justia Patents Search".
  9. 1 2 3 4 "Latest Sterlite Technologies Ltd News, Photos, Latest News Headlines about Sterlite Technologies Ltd-The Hindu BusinessLine". www.thehindubusinessline.com. Retrieved 29 April 2023.
  10. ↑ "Sterlite Technologie: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Sterlite Technologie - NDTV". www.ndtv.com. Retrieved 29 April 2023.
  11. ↑ Agarwal, Hitesh; Bhardwaj, Madhukar (2012). "Industry project: To provide fiber cable market forecast in India". Research at IIMB– via DSpace. Indian Institute of Management Bangalore.
  12. ↑ "Sterlite Tech is 1st OFC plant in India to receive Zero Waste to Landfill certification". The Asian Age. 4 March 2019. Retrieved 24 September 2019.
  13. 1 2 Sardet, Maëlle J. (February 2023). A Data-Driven Approach to Improve Optical Fiber Manufacturing: Focus on Core Deposition. DSpace@MIT (Thesis). Massachusetts Institute of Technology. p. 25. hdl:1721.1/150220.
  14. ↑ "Sterlite Tech says investing in 5G to develop Make in India ecosystem – ET Telecom". telecom.economictimes.indiatimes.com. 23 July 2020.
  15. ↑ "Transmission Network Provider enabling Bharatnet - STL". stl.tech. Retrieved 24 September 2019.
  16. ↑ Aulakh, Gulveen (14 June 2022). "Sterlite Technologies in talks with telcos for open-RAN 5G". mint. Retrieved 22 June 2023.
  17. ↑ Hsueh, Roselyn (30 June 2022). Micro-institutional Foundations of Capitalism. Cambridge University Press. p. 200. ISBN   978-1-108-63549-3.
  18. ↑ "IIT-Madras partners with Sterlite Technologies for 5G research and development". The Times of India. 10 December 2019. ISSN   0971-8257 . Retrieved 22 June 2023.
  19. ↑ "Sterlite Technologies, IIT Madras sign pact for advancement of 5G". www.thehindubusinessline.com. 10 December 2019. Retrieved 22 June 2023.
  20. ↑ "STL announces adoption of science-based target initiatives to be net-zero by 2030". cnbctv18.com. 6 March 2023. Retrieved 29 May 2023.
  21. 1 2 Mishra, Lalatendu (20 May 2023). "Achieved 100% Zero Waste-to-Landfill stamp for production units, says Sterlite Technologies". The Hindu. ISSN   0971-751X . Retrieved 29 May 2023.
  22. ↑ "Sterlite Technologies bags 'zero liquid discharge' certification". www.thehindubusinessline.com. 19 October 2022. Retrieved 29 May 2023.
  23. ↑ "Sterlite Technologies buys Elitecore for Rs 180 crore". @businessline. 23 September 2015. Retrieved 25 March 2020.
  24. ↑ "Sterlite Tech arm completes acquisition of Metallurgica Bresciana". The Economic Times. 23 July 2018. Retrieved 25 March 2020.
  25. ↑ "Sterlite Technologies acquires UK-based IDS Group". The Financial Express. 26 September 2019. Retrieved 25 March 2020.
  26. ↑ "Sterlite Technologies shares rise 3.50% on stake buy in Israel-based ASOCS". @businessline. 10 January 2020. Retrieved 25 March 2020.
  27. ↑ "Sterlite Technologies to acquire Italy-based Optotec". The Economic Times. 2 November 2020. ISSN   0013-0389 . Retrieved 23 March 2023.
  28. ↑ Kar, Ayushi (22 July 2021). "Sterlite Tech to acquire UK's Clearcomm for £15.5 million". www.thehindubusinessline.com. Retrieved 23 March 2023.
  29. ↑ "Creating Value in Everyday Life STL's CSR Journey - VOICE and DATA | DailyHunt Lite". Dailyhunt. Retrieved 24 September 2019.
  30. ↑ Admin (21 February 2019). "Sterlite Tech's Magic Medical Van". STL Blog. Retrieved 24 September 2019.
  31. ↑ "Expanding Internet Adoption in Rural India". MIT Sloan. Retrieved 23 March 2023.
  32. ↑ www.ETTelecom.com. "Sterlite launches an industry-first digital inclusion solution 'STL Garv' - ET Telecom". ETTelecom.com. Retrieved 23 March 2023.
  33. ↑ www.ETCIO.com. "Winners of ETCIO Annual Conclave 2019 - ET CIO". ETCIO.com. Retrieved 24 September 2019.
  34. ↑ www.ETTelecom.com. "DoT-backed Quantum Communication Conclave concludes - ET Telecom". ETTelecom.com. Retrieved 9 July 2023.
  35. ↑ www.ofsoptics.com press release
  36. ↑ OFS. "OFS and Sterlite Settle Lawsuit" (Press release). PR Newswire. Retrieved 4 November 2019.
  37. ↑ "US court asks Vedanta-backed Sterlite Tech to pay $96.5 mn to Prysmian". Business Standard . 16 August 2024. Retrieved 16 August 2024.
  38. ↑ "US court orders Vedanta Group-owned Sterlite Tech to pay ₹810 crore to Prysmian for violating trade secrets: Report". Mint . 16 August 2024. Retrieved 16 August 2024.
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