Sterlite Technologies532374Quarterly results

Board approves Q2 FY27 results with record revenue, EBITDA and order book

Board meeting on October 23, 2026: the Board approved the unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026, along with the Statutory Auditors' Limited Review Report.

By ScoutQuest · Fri 23 Oct 2026, 12:54 PM IST · 3 min read

Q2 FY27 Revenue: INR 2,529 Cr
Q2 FY27 EBITDA: INR 846 Cr, includes one-time US tariff refund gain of INR 161 Cr
Open Order Book: INR 35,274 Cr at the end of the quarter

What the Board approved

The unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026, along with the Statutory Auditors' Limited Review Report.
The update also carries the press release and investor presentation on these results, statements of utilisation of issue proceeds for the preferential issue of warrants, the qualified institutional placement and the non-convertible debentures, and the security cover certificate for the quarter ended September 30, 2026.
The non-convertible debenture statement confirms Nil material deviation for the quarter ended September 30, 2026.

Q2 FY27 in numbers (all from continued operations)

Revenue: INR 2,529 Cr, against INR 1,910 Cr in Q1 FY27 and INR 1,034 Cr in Q2 FY26.
EBITDA: INR 846 Cr, against INR 397 Cr in Q1 FY27 and INR 141 Cr in Q2 FY26.
PAT: INR 517 Cr, against INR 197 Cr in Q1 FY27 and INR 4 Cr in Q2 FY26.
The press release calls this the highest-ever revenue and EBITDA, citing year-on-year growth of ~145% in revenue and ~500% in EBITDA.
EBITDA for the quarter includes a one-time net gain of INR 161 Cr from a US tariff refund, so part of the reported operating profit came from a non-recurring item.
The company also states it reported a net debt-free balance sheet this quarter.

Order book and order wins

Open order book at the end of the quarter: INR 35,274 Cr.
US$ 1.2 Bn (~INR 11,500 Cr) multi-year long-term agreement with a hyperscaler for optical connectivity products, CY26 to CY30.
US$ 1.11 Bn (~INR 10,500 Cr) Product Award Letter from a hyperscaler for optical connectivity products, FY27 to FY29.
$288 Mn (~INR 2,700 Cr) deal with a hyperscaler for high-density optical fibre cable products, CY27 to CY29.
US$ 210 Mn (~INR 2,000 Cr) deal with a telecom infrastructure company for high-density optical fibre cables, CY27 to CY29.
INR 960 Cr multi-year optical cable supply agreement with an Indian telecom operator.

Other points from the release

The share of business from integrated optical connectivity solutions is rising, with the optical connectivity attach rate at an all-time high of 24% during H1 FY27.
Patent count is stated at 800+ in the press release and 805+ global patents shared and granted in the presentation, which notes this excludes 8 patents subject to transfer to Invenia.
Product additions include the Neuralis pre-terminated fibre trunk assemblies (48F–6,912F), a plenum-rated fibre trunk for AI data centre connectivity, and the CONCAT FTTH solution.

How to read it

The order book and multi-year agreements point to a large pipeline, but they are commitments spread over several years; revenue is recognised as those orders are executed.
Several order values are stated in US dollars with approximate rupee equivalents, so the rupee figure can move with exchange rates.
The EBITDA figure includes the INR 161 Cr one-time tariff refund, which is useful to keep in mind when comparing the quarter's profitability with other periods.

Also from Sterlite Technologies

Sterlite Technologies hosts audio recording of Q2 FY27 earnings call held October 23, 2026

23 Oct 2026

Sterlite Tech delivered strong Q2 results with order book up 4.5x and upgraded FY29 margin guidance, stock swung from lower circuit to up 4%

23 Oct 2026

Monitoring agency report: Rs. 1500 crore QIP proceeds nearly fully used, deviation NIL

23 Oct 2026

All Sterlite Technologies stories