Sterling Tools Limited has informed the Exchange about Agreements
STERTOOLS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sterling Tools Limited, through its wholly owned subsidiary Sterling Gtake E-Mobility Ltd (SGEM), has signed a Technology Licensing Agreement on 13th May 2025 with UK-based Advanced Electric Machines Limited (AEM). Under this deal, SGEM gets an exclusive license to manufacture and sell Rare Earth Magnet-Free traction motors for electric vehicles in India, using AEM's patented technology, at its plant in Faridabad. No upfront payment is involved; instead, AEM will receive royalties on sales. No new entity is being created, and the deal is not a related party transaction. The move is aimed at reducing India's dependence on imported permanent magnets and supports the Make in India and Atmanirbhar Bharat initiatives.
This is a positive strategic development for shareholders as it positions Sterling Tools in the fast-growing EV components space with differentiated magnet-free motor technology and an exclusive India license. Near-term financial impact may be limited (royalty-based, no upfront cash outflow), but it strengthens the company's long-term growth story in EVs.