Sterling Tools stock discussed: down ~70% from all-time high but up ~40% since April, after losing major revenue from an anchor customer in its EV subsidiary SEM

Thu 8 Oct 2026

Stock fall from all-time high

70 percent

Stock gain since April

40 percent

SEM FY25 revenue

380 crore rupees

Revenue lost from anchor customer

280 crore rupees

Group profit decline Q1 FY26

51 percent

Heard on business television between 13:51:02 - 13:54:02 IST.

• Sterling Tools makes high strength fasteners for cars, two-wheelers, trucks and farm equipment, and owns EV businesses SEM (motors, controllers, chargers) and STML (EV battery switches) aimed at reducing EV component imports.
• Stock has fallen around 70% from its all-time high levels but gained almost 40% since April.
• SEM's Rs 380 crore revenue in FY25 came mostly from one anchor customer, which later began making those parts in-house, costing SEM about Rs 280 crore of revenue.
• As a result, the group's profit fell around 51% in Q1 FY26, which drove the sharp decline in the stock price.

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