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]
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]
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
On 24 September 2015, Sterlite Technologies Limited acquired Elitecore Technologies in an all cash deal worth ₹180 crore.[23]
On 20 July 2018, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Metallurgica Bresciana in an all cash deal worth €47 million.[24]
On 26 September 2019, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Impact Data Solutions (IDS) Group for an enterprise value of $15 million.[25]
On 9 January 2020, Sterlite Technologies Limited acquired 12.8% stake in Israel-based
ASOCS.[26]
On 2 November 2020, Sterlite Technologies Limited acquired 100% stake in Optotec S.p.A, a leading optical interconnect company at an enterprise value of €29 million.[27]
In June 2021, STL acquired a UK-based network integration company, Clearcomm for £15.5 million.[28]
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]
2022, Pandit Deendayal Upadhyaya Telecom Skill Excellence Awards at
Department of Telecommunications' International Quantum Communication Conclave.[34]
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]