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Sterlite Technologies Q2 FY27 results: net profit ₹517 crore vs ₹4 crore, revenue up 144.6%
Sterlite Technologies Limited reported consolidated revenue of ₹2,529 crore and a net profit of ₹517 crore for Q2 FY27. EBITDA was ₹812 crore, with a margin of 32.1%, while basic EPS rose to ₹10.32; the company also reported standalone revenue of ₹1,399 crore and profit of ₹319 crore.
Key points
- Consolidated revenue was ₹2,529 crore in Q2 FY27, up ₹1,495 crore from Q2 FY26 and ₹619 crore from Q1 FY27.
- EBITDA was ₹812 crore, up ₹683 crore from Q2 FY26, with EBITDA margin at 32.1% against 12.5% a year earlier.
- Net profit was ₹517 crore, up ₹513 crore from Q2 FY26 and ₹320 crore from Q1 FY27; basic EPS was ₹10.32.
- For H1 FY27, revenue was ₹4,439 crore and net profit was ₹714 crore, against ₹2,054 crore and ₹14 crore respectively in H1 FY26.
- Management maintained its FY29 revenue target of INR20,000 crores and raised the FY29 EBITDA margin target to about 30% from 27%.
How did Sterlite Technologies perform in Q2 FY27?
Sterlite Technologies reported consolidated revenue of ₹2,529 crore in Q2 FY27, up ₹1,495 crore from Q2 FY26 and ₹619 crore from Q1 FY27. EBITDA was ₹812 crore, up ₹683 crore from the year-ago quarter and ₹427 crore from the previous quarter. EBITDA margin was 32.1%, compared with 12.5% in Q2 FY26 and 20.2% in Q1 FY27.
Consolidated profit before tax was ₹674 crore, up ₹668 crore from Q2 FY26 and ₹417 crore from Q1 FY27. The company reported a net profit of ₹517 crore, compared with ₹4 crore a year earlier and ₹197 crore in the previous quarter. Basic EPS was ₹10.32, against ₹0.08 in Q2 FY26 and ₹4.03 in Q1 FY27. On a standalone basis, revenue was ₹1,399 crore and profit was ₹319 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,529 | 1,910 | 1,034 | +144.6% | +32.4% |
| Other income | 34 | 12 | 12 | +183.3% | +183.3% |
| Total expenses | 1,889 | 1,665 | 1,040 | +81.6% | +13.5% |
| EBITDA | 812 | 385 | 129 | +529.5% | +110.9% |
| EBITDA margin | 32.1% | 20.2% | 12.5% | +19.6 pp | +11.9 pp |
| Profit before tax | 674 | 257 | 6 | +11133.3% | +162.3% |
| Tax | 157 | 60 | 2 | +7750.0% | +161.7% |
| Net profit | 517 | 197 | 4 | +12825.0% | +162.4% |
| EPS (₹) | 10.32 | 4.03 | 0.08 | +12800.0% | +156.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Sterlite Technologies' costs and profit?
Total expenses were ₹1,889 crore in Q2 FY27, up ₹849 crore from Q2 FY26. Cost of materials was ₹986 crore, up ₹441 crore; employee cost was ₹206 crore, up ₹50 crore; finance costs were ₹63 crore, up ₹8 crore; depreciation was ₹109 crore, up ₹29 crore; and other expenses were ₹478 crore, up ₹226 crore. Other income was ₹34 crore, up ₹22 crore from the year-ago quarter.
Tax expense was ₹157 crore, up ₹155 crore from Q2 FY26. No exceptional item was reported in either Q2 FY27 or Q2 FY26. The filing attributed the quarter’s profit to strong revenue growth, margin expansion and a one-time tariff refund gain, while the results also showed the effect of higher operating costs and tax.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 986 | 545 | +441 | +80.9% |
| Employee cost | 206 | 156 | +50 | +32.1% |
| Finance costs | 63 | 55 | +8 | +14.5% |
| Depreciation | 109 | 80 | +29 | +36.2% |
| Other expenses | 478 | 252 | +226 | +89.7% |
| Total expenses | 1,889 | 1,040 | +849 | +81.6% |
| Other income | 34 | 12 | +22 | +183.3% |
| Tax | 157 | 2 | +155 | +7750.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, Sterlite Technologies reported revenue of ₹4,439 crore, up ₹2,385 crore from H1 FY26. Total income was ₹4,484 crore, up ₹2,410 crore, while profit before tax was ₹931 crore, up ₹912 crore. Net profit was ₹714 crore, compared with ₹14 crore in H1 FY26, and basic EPS was ₹14.25 against ₹0.28.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4,439 | 2,054 | +116.1% |
| Profit before tax | 931 | 19 | +4800.0% |
| Net profit | 714 | 14 | +5000.0% |
| EPS (₹) | 14.25 | 0.28 | +4989.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹8,030 crore, compared with ₹6,346 crore at 31 March 2026. Total equity was ₹4,543 crore against ₹2,268 crore, borrowings were ₹864 crore against ₹1,827 crore, and cash was ₹528 crore against ₹298 crore. Inventories were ₹850 crore, trade receivables ₹1,606 crore and trade payables ₹982 crore.
Operating cash flow in H1 FY27 was ₹692 crore, compared with ₹268 crore in H1 FY26. Investing cash flow was negative ₹838 crore against negative ₹225 crore, financing cash flow was ₹375 crore against negative ₹172 crore, and capital expenditure was ₹257 crore against ₹81 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,030 | 6,346 |
| Total equity | 4,543 | 2,268 |
| Borrowings | 864 | 1,827 |
| Cash and equivalents | 528 | 298 |
| Inventories | 850 | 906 |
| Trade receivables | 1,606 | 1,066 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 692 | 268 |
| Cash from investing | −838 | −225 |
| Cash from financing | 375 | −172 |
| Capital expenditure | 257 | 81 |
Source: Company's results filing (XBRL).
How has Sterlite Technologies done over the last 8 quarters?
Revenue rose year on year in each of the last three quarters. It increased from ₹1,034 crore in Q2 FY26 to ₹1,257 crore in Q3 FY26, ₹1,441 crore in Q4 FY26 and ₹1,910 crore in Q1 FY27, before reaching ₹2,529 crore in Q2 FY27. Profit rose year on year in each of the last two quarters and reached ₹517 crore in Q2 FY27.
The recent trajectory shows revenue and profit moving higher from the Q3 FY26 trough. Revenue was ₹1,257 crore in Q3 FY26 and profit was a net loss of ₹17 crore, while EBITDA margin was 9.5%. By Q2 FY27, revenue was ₹2,529 crore, profit was ₹517 crore and EBITDA margin was 32.1%. The Q2 FY27 margin was the highest in the listed quarterly trend, while the Q3 FY26 margin was the lowest.
Which businesses drove the quarter?
The optical networking business reported revenue of ₹2,461 crore in Q2 FY27, up 151.1% from ₹980 crore in Q2 FY26. EBIT was ₹851 crore, compared with ₹136 crore in the year-ago quarter, and the segment’s EBIT margin was 34.6%.
Digital and technology solutions reported revenue of ₹86 crore, up 32.3% from ₹65 crore in Q2 FY26. Segment EBIT was ₹2 crore against ₹1 crore a year earlier, with an EBIT margin of 2.3%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Optical networking business | 2,461 | +151.1% | 851 | 34.6% |
| Digital and technology solutions | 86 | +32.3% | 2 | 2.3% |
Source: Company's results filing (XBRL segment data).
What did Sterlite Technologies' management say?
Management maintained the Lakshya FY29 revenue target at INR20,000 crores and raised the FY29 EBITDA margin target to about 30% from 27%. The company expects FY27 data-centre revenue contribution to be close to around 50% of revenue and plans around INR1,000 crores of annual capital expenditure through FY29. Management also targets a 25% and above attach rate for FY27 and a 45–50-day net working-capital-cycle range.
Management said it would expand preform, fibre and cable capacity by 50% through FY29 and allocate 2% of annual revenue to R&D. The open order book was INR35,274 cr and H1 order intake was INR32,000 cr; management also referred to a new five-year hyperscaler award worth $1.2 billion. Management identified risks including data-centre execution constraints, order timing, manufacturing readiness for hollow-core and multi-core products, and supply-constrained procurement of inputs such as germanium and helium.
How did Sterlite Technologies shares react?
After the filing appeared, the stock was up 7.5% after five minutes, 3.6% after 15 minutes and 6.5% after 30 minutes. It closed the reaction day up 2.2% from the pre-results close; by the next day’s close, it was up 8.2% from that close, and by the fifth session it was up 2.8%. Over the same periods, the Nifty Smallcap 250 fell 2.8%, 1.7% and 0.5%.
Earlier results-day reactions were mixed. The stock rose 4.6% on 24 July 2026 and 2.7% on 29 April 2026, but fell 5.4% on 23 January 2026 and 6.5% on 6 November 2025. On 25 July 2025 it rose 1.7%, while the 17 January 2025 reaction was up 2.6%.
| After the filing | Stock |
|---|---|
| 5 minutes | +7.5% |
| 15 minutes | +3.6% |
| 30 minutes | +6.5% |
| Reaction day | +2.2% |
| Next day | +8.2% |
| 5 days | +2.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 24 July 2026 | +4.6% |
| 29 April 2026 | +2.7% |
| 23 January 2026 | −5.4% |
| 6 November 2025 | −6.5% |
| 25 July 2025 | +1.7% |
| 17 January 2025 | +2.6% |
| 30 October 2024 | +3.0% |
| 30 July 2024 | −2.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Sterlite Technologies' revenue in Q2 FY27?
Revenue from operations was ₹2,529 crore, up 144.6% from ₹1,034 crore in Q2 FY26 (consolidated).
Did Sterlite Technologies make a profit in Q2 FY27?
Yes. Net profit was ₹517 crore, against a net profit of ₹4 crore in Q2 FY26.
What was Sterlite Technologies' EPS in Q2 FY27?
Basic earnings per share were ₹10.32, against ₹0.08 in Q2 FY26.
How did Sterlite Technologies shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.2% from the previous close.
When did Sterlite Technologies announce its Q2 FY27 results?
On 23 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 6 October 2026) · PDF
- Outcome of Board Meeting (NSE, 23 October 2026) · PDF
- The earnings call (27 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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