Sterlite Technologies (STLTECH) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 delivered record revenue of INR 2,529 crore; PAT reached INR 517 crore, supported by growth, margin expansion and a one-time US tariff-refund gain.

• H1 FY27 order intake reached INR 32,026 crore and the open order book stood at INR 35,274 crore, providing multi-year visibility.

• FY29 revenue target remains INR 20,000 crore; EBITDA margin ambition rose to above 30% from above 27%.

Financial highlights

• Q2 FY27 revenue was INR 2,529 crore, up 145% YoY and 32% QoQ; H1 revenue was INR 4,439 crore, up 116% YoY.

• Q2 operational EBITDA was INR 685 crore at a 27.1% margin; H1 operational EBITDA was INR 1,082 crore at a 24.4% margin.

• Reported Q2 EBITDA was INR 846 crore (33.5% margin), including a one-time INR 161 crore US tariff-refund gain; H1 reported EBITDA was INR 1,243 crore (28.0% margin).

• Q2 PAT was INR 517 crore and H1 PAT was INR 714 crore, versus INR 4 crore and INR 14 crore, respectively, in the prior year.

• Standalone Q2 revenue was INR 1,399 crore, EBITDA INR 539 crore and PAT INR 319 crore.

Outlook and guidance

• FY29 roadmap targets INR 20,000 crore revenue and EBITDA margin above 30%, raised from above 27%.

• FY27–29 plans include annual capex of INR 1,000 crore, 50% expansion of preform, fibre and cable capacities, and a greenfield pre-termination facility.

• Strategic priorities include integrated connectivity solutions, data-centre growth, R&D investment of 2% of annual revenue, and margin expansion through efficiency and customer value.

• Data centres are targeted to contribute 50% of FY27 revenue, within a designed 50%–60% range; management aims to improve on Q2 performance from Q3 onward.