Interim report
Page 1
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 0 01 , India. CIN - L31300PN2000PLC202408 October 23, 2026 To, National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C-1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051. Scrip ID - STLTECH BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Scrip Code – 532374 S ub.: Outcome of Board Meeting - Intimation under Regulations 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”) D ear Sir/Madam, W ith reference to our letter dated October 06, 2026, we wish to inform you that the Board of Directors of Sterlite Technologies Limited (the “Company”), at its meeting held today i.e. on October 23, 2026, has approved, inter alia, the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026 along with Limited Review of the Statutory Auditors of the Company. I n this regard, please find enclosed herewith: i. P ress Release on Unaudited Financial Results; ii. Investors Presentation on Unaudited Financial Results; iii. Unaudited Consolidated and Standalone Financial Results; iv. Limited Review Report on the Unaudited Consolidated and Standalone Financial Results; v. Disclosure pursuant to Integrated Financial Results pursuant to to SEBI Master Circular HO/49/14/14(7) 2025-CFD-POD2/I/3762/2026 dated January 30, 2026 read with relevant circulars issued by stock exchanges enclosed as Annexure I; vi. Statement of Utilization of issue proceeds raised through Preferential Issue of Warrants and Statement of Material Deviation under Regulation 32(1) of the Listing Regulations and as required under SEBI Master Circular No. SEBI/HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026 – Attached Annexure II. vii. Statement of Utilization of issue proceeds raised through Qualified Institutional Placement of equity shares and Statement of Material Deviation under Regulation 32(1) of the Listing Regulations and as required under SEBI Master Circular No. SEBI/HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated January 30, 2026 – Attached Annexure III. pm. The meeting commenced at 10:00 am and concluded at 12.40 We request you to take the aforesaid on records. Thanking you. Yours faithfully, For Sterlite Technologies Limited Mrunal Asawadekar Company Secretary & Compliance Officer Membership No.: A 24346 Encl.: As above
Page 2
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 PRESS RELEASE STL achieves record Q2 FY’27, with highest-ever revenue, EBITDA and open order book • Record order book of INR 35,274 Cr and highest-ever revenue of INR 2,529 Cr • Signed multi-year long-term supply agreements (LTSAs) with hyperscalers and telecom operators Mumbai, 23/October/2026: STL [NSE: STLTECH], a leading connectivity solutions provider for AI-ready digital infrastructure, today announced its financial results for the quarter ended 30 September 2026. For Q2 FY’27, the Company reported the highest-ever revenue of INR 2,529 Cr and EBITDA of INR 846 Cr, a YoY growth of ~145% and ~500%, respectively. The open order book stands at INR 35,274 Cr at the end of the quarter. This record revenue reflects the convergence of several factors. Demand for AI-ready digital infrastructure continues to accelerate, with hyperscalers building out data centers that need far more fibre per rack than earlier cloud architectures. A growing share of the business now comes from integrated optical connectivity solutions, with the optical connectivity attach rate reaching an all-time high of 24% during H1 FY’27. Large multi-year agreements with hyperscalers and telecom operators supported strong order intake and steady execution through the quarter. STL also reported a net debt-free balance sheet this quarter, with PAT at INR 517 Cr, driven by strong revenue growth, margin expansion and a one-time tariff refund gain. Key order wins in H1 FY’27: STL’s diversified order wins during H1 reflect growing demand for high-performance optical connectivity solutions from hyperscalers and telecom operators globally: • A US$ 1.2 Bn (~INR 11,500 Cr) multi-year long-term agreement with a hyperscaler to supply optical connectivity products from CY26 to CY30. • A US$ 1.11 Bn (~INR 10,500 Cr) Product Award Letter from a hyperscaler to supply optical connectivity products from FY27 to FY29. • A $288 Mn (~INR 2,700 Cr) deal with a hyperscaler for high-density optical fibre cable products from CY27 to CY29. • A US$ 210 Mn (~INR 2,000 Cr) deal for a leading telecom infrastructure company for high-density optical fibre cables from CY27 to CY29. • A multi-year optical cable supply agreement worth INR 960 Cr with a leading Indian telecom operator. Innovation STL continued to strengthen its portfolio of next-generation optical products in line with the needs of AI-ready digital infrastructure, taking its total patent count to 800+: • Expanded the STL Neuralis portfolio with Pre-Terminated Fibre Trunk Assemblies (48F–6,912F), designed to power hyperscale data centres. • Launched a plenum-rated fibre trunk for AI data centre connectivity. • Launched a new advanced FTTH solution, CONCAT, after successfully completing field trials on the networks of one of the largest telecom service providers in the US. “Q2 FY’27 is our best quarter yet, with the highest revenue and EBITDA in STL’s history. It reflects the strength of demand for AI-ready digital infrastructure” said Ankit Agarwal, MD, STL. “The large multi-year agreements we secured this
Page 3
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 quarter, along with an open order book of INR 35,274 Cr, give us strong visibility as hyperscalers and telecom operators scale their digital infrastructure and networks.” Financials* (INR Cr) Q2 FY’27 Q1 FY’27 Q2 FY’26 Revenue 2,529 1,910 1,034 EBITDA 846** 397 141 PAT 517 197 4 *All financials are from continued operations **Includes one-time net gain of US tariff refund worth INR 161 Cr. About STL (Sterlite Technologies Ltd.): STL is a global leader in advanced connectivity solutions, providing end-to-end solutions for building AI-ready infrastructure, FTTx, rural, enterprise and data center networks. With manufacturing facilities in North America, Europe and Asia, we deliver our solutions in more than 100 countries. Data center & Cloud companies, telecom operators, Internet service providers and large enterprises collaborate with STL to build their future-ready digital infrastructure. STL’s business goals are driven by customer-centricity, R&D and sustainability. Read more, Contact us, stl.tech | Twitter | LinkedIn| YouTube For more information, contact: Media Relations Shaily Rai Sinha Phone: +91 22 30450450 +1 (803)-403-2258 stl.communications@stl.tech Investor Relations Rahul Darak Phone: +91 22 30514000 investor@stl.tech
Page 4
September 26 (Unaudited) June 26 (Unaudited) September 25 (Unaudited) September 26 (Unaudited) September 25 (Unaudited) March 26 (Audited) Revenue from operations 2,529 1,910 1,034 4,439 2,054 4,745 Other income 34 12 12 45 20 59 Total income 2,563 1,922 1,046 4,484 2,074 4,804 Total expenditure 1,717 1,525 905 3,241 1,793 4,176 Cost of materials and components consumed 986 805 545 1,790 1,099 2,461 Purchase of stock-in-trade - - 0 - 0 0 (Increase) / decrease in inventories of finished goods, work in progress and stock-in-trade 47 158 (48) 205 (89) (76) Employee benefits expense 206 195 156 401 312 659 Net impairment losses on financial and contract assets 39 - - 39 - 17 Other expenses 439 367 252 806 471 1,115 Earnings before exceptional item, interest, tax, depreciation and amortisation (EBITDA) 846 397 141 1,243 281 628 Finance costs 63 55 55 118 105 224 Depreciation and amortisation / impairment expense (refer note 10) 109 85 80 194 157 313 Profit/(loss) before exceptional item and tax 674 257 6 931 19 91 Exceptional items (Refer note 8) - - - - - 16 Profit/(loss) before tax 674 257 6 931 19 107 Tax expense/(credit) : 157 60 2 217 5 51 Current tax 142 34 12 176 20 32 Deferred tax (Refer note 9) 15 26 (10) 41 (15) 19 Net profit/(loss) for the period / year 517 197 4 714 14 56 Other comprehensive income/(loss) A. i) Items that will be reclassified to profit or loss 17 66 27 83 47 90 ii) Income tax relating to these items (1) (14) (1) (15) 1 (1) B. i) Items that will not be reclassified to profit or loss (2) 1 2 (1) 2 6 ii) Income tax relating to these items 0 (0) (0) 0 (0) (2) Total other comprehensive income / (loss) for the period / year 14 53 28 67 50 93 Total comprehensive income / (loss) for the period / year 531 250 32 781 64 149 Net profit/(loss) attributable to: Owners of the company 517 197 4 714 14 56 Other comprehensive income / (loss) attributable to: Owners of the company 14 53 28 67 50 93 Total comprehensive income / (loss) attributable to: Owners of the company 531 250 32 781 64 149 Paid-up equity share capital (face value of ₹ 2 per share fully paid-up) 103 98 98 103 98 98 Other Equity 2,170 Earnings per equity share (EPS) (not annualised) Basic EPS (₹) 10.32 4.03 0.08 14.25 0.28 1.15 Diluted EPS (₹) 9.36 3.71 0.08 12.93 0.28 1.11 Amount appearing as "0" is below rounding off norm followed by the Group. Particulars Quarter ended Year ended STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) (₹ in crores except earnings per share) CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 Half Year ended Q2 FY26-27 Financial Results 1 of 14 Sterlite Technologies Limited STl!
Page 5
(₹ in crores) September 26 (Unaudited) June 26 (Unaudited) September 25 (Unaudited) September 26 (Unaudited) September 25 (Unaudited) March 26 (Audited) 1. Segment revenue Optical networking business 2,461 1,842 980 4,302 1,941 4,486 Digital and technology solutions 86 72 65 159 129 284 Inter segment elimination (18) (4) (11) (22) (16) (25) Revenue from operations 2,529 1,910 1,034 4,439 2,054 4,745 2. Segment Results (EBITDA) Optical networking business 851 401 136 1,252 273 606 Digital and technology solutions 2 2 1 4 2 3 Total segment results 853 403 137 1,256 275 609 Net unallocated income / (expense) (7) (6) 4 (13) 6 19 Total EBITDA 846 397 141 1,243 281 628 Finance cost 63 55 55 118 105 224 Depreciation and amortisation expense 109 85 80 194 157 313 Profit/(loss) before exceptional item and tax 674 257 6 931 19 91 Exceptional items (Refer note 8) - - - - - 16 Profit/(Loss) before tax 674 257 6 931 19 107 3. Segment assets Optical networking business 6,218 5,947 4,703 6,218 4,703 5,399 Digital and technology solutions 213 174 182 213 182 185 Total segment assets 6,431 6,121 4,885 6,431 4,885 5,584 Inter segment elimination (2) (2) (2) (2) (2) (2) Unallocated assets 1,601 2,450 949 1,601 949 764 Total assets 8,030 8,569 5,832 8,030 5,832 6,346 4. Segment Liabilities Optical networking business 2,190 2,271 1,635 2,190 1,635 1,969 Digital and technology solutions 255 197 172 255 172 195 Total segment liabilities 2,445 2,468 1,807 2,445 1,807 2,164 Inter segment elimination (2) (2) (2) (2) (2) (2) Unallocated liabilities 1,044 2,108 1,973 1,044 1,973 1,916 Total liabilities 3,487 4,574 3,778 3,487 3,778 4,078 Particulars The Group’s operations primarily relate to manufacturing and supply of telecom / data center products and providing digital and technology solutions. The segment information is provided to and reviewed by Chief Operating Decision Maker (CODM). The Group's segments consist of : 1. Optical networking business - Design and Manufacturing of optical fibre, cables and optical interconnect products 2. Digital and technology solutions - Enabling digital transformation of telcos and enterprises. STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 Quarter ended Year endedHalf Year ended Q2 FY26-27 Financial Results 2 of 14 Sterlite Technologies Limited STl!
Page 6
(₹ in crores) (Unaudited) (Audited) Assets I. Non-current assets (a) Property plant & equipment 2,665 2,693 (b) Capital work-in-progress 175 19 (c) Investment Property 3 3 (d) Goodwill 196 194 (e) Other intangible assets 75 81 (f) Deferred tax assets (net) 105 97 (g) Financial assets (i) Investments 494 463 (ii) Other non-current financial assets 6 31 (h) Non-current tax assets (net) 117 54 (i) Other non-current assets 85 48 Total non-current assets 3,921 3,683 II. Current assets (a) Inventories 850 906 (b) Financial assets (i) Investments 534 4 (ii) Trade receivables 1,606 1,066 (iii) Cash and cash equivalents 528 298 (iv) Other bank balances 110 25 (v) Loans 1 23 (vi) Other current financial assets 162 115 (c) Contract assets 28 27 (d) Other current assets 290 199 Total current assets 4,109 2,663 Total assets 8,030 6,346 Equity and liabilities Equity Equity share capital 103 98 Other equity 4,440 2,170 Total equity 4,543 2,268 Liabilities I. Non-current liabilities (a) Financial liabilities (i) Borrowings 547 1,155 (ii) Lease liabilities 99 94 (iii) Other non-current financial liabilities 1 13 (b) Employee benefit obligations 40 38 (c) Provisions 21 - (d) Deferred tax liabilities (net) 128 58 Total non-current liabilities 836 1,358 II. Current liabilities (a) Financial liabilities (i) Borrowings 317 672 (ii) Lease liabilities 26 21 (iii) Advances under advance payment and sales agreement (APSA) 169 167 (iv) Acceptances 293 271 (v) Trade payables (A) total outstanding dues of micro and small enterprises 59 33 (B) total outstanding dues of creditors other than micro and small enterprises 923 1,032 (vi) Other current financial liabilities 248 189 (b) Contract liabilities 290 193 (c) Other current liabilities 158 106 (d) Employee benefit obligations 35 31 (e) Provisions 51 0 (f) Current tax liabilities (Net) 82 5 Total current liabilities 2,651 2,720 Total liabilities 3,487 4,078 Total equity & liabilities 8,030 6,346 Amount appearing as "0" is below rounding off norm followed by the Group. (CIN : L31300PN2000PLC202408) Particulars CONSOLIDATED BALANCE SHEET AS AT SEPTEMBER 30, 2026 STERLITE TECHNOLOGIES LIMITED 30 September 2026 31 March 2026 Q2 FY26-27 Financial Results 3 of 14 Sterlite Technologies Limited STl!
Page 7
(₹ in crores) Half year ended Half year ended 30 September 2026 30 September 2025 (Unaudited) (Unaudited) A. Operating activities Profit/(Loss) before tax 931 19 Adjustments to reconcile profit before tax to net cash flows Depreciation and amortisation / impairment expense 194 157 Impairment losses on financial and contract assets 39 (2) Liabilities no longer required written back - (3) (Profit) / loss on sale of property, plant and equipment (net) (3) (2) Bad debts / advances written off 3 - Provision for doubtful loans and advances 17 - Rental income (0) (0) Dividend Income (7) - Employee stock option expenses 17 (1) Finance costs (including interest pertaining to Ind AS 116) 118 105 Gain / Loss on investment measured at FVTPL (10) (2) Finance income (forming part of other income) (14) (5) Unrealized exchange difference (net) 2 3 356 250 Operating profit before working capital changes 1,287 269 Working capital adjustments: Increase / (decrease) in acceptances 21 (49) Increase/(decrease) in trade payables (101) 126 Increase/(decrease) in long-term provisions 21 (0) Increase/(decrease) in short-term provisions 51 (4) Increase/(decrease) in other current liabilities 27 38 Increase/(decrease) in contract liabilities 99 38 Increase/(decrease) in other current financial liabilities 38 45 Increase/(decrease) in other non-current financial liabilities (9) - Increase/(decrease) in current employee benefit obligations 2 (18) Increase/(decrease) in non-current employee benefit obligations 2 0 Decrease/(increase) in current trade receivable (568) 98 Decrease/(increase) in inventories 62 (150) Decrease/(increase) in other current financial assets (37) (37) Decrease/(increase) in other non-current financial assets 25 (6) Decrease/(increase) in other current assets (86) (74) Decrease/(increase) in contract assets (1) 5 Decrease/(increase) in other non-current assets 13 4 Changes in working capital (441) 16 Cash generated from / (used in) operating activities 846 285 Income tax paid (net of refunds) (154) (17) Net cash flow from / (used in) operating activities 692 268 STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 Particulars Q2 FY26-27 Financial Results 4 of 14 Sterlite Technologies Limited STl!
Page 8
(₹ in crores) Half year ended Half year ended 30 September 2026 30 September 2025 (Unaudited) (Unaudited) STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 Particulars B. Investing activities* Purchase of property, plant and equipment (257) (81) Purchase of intangible assets - (0) Proceeds from sale of property, plant and equipment 18 8 Purchase of current investments (520) (121) Loans given to related parties - (11) Net movement in other bank balances (85) (20) Repayment of loan from related parties 21 - Earmarked Investments (Non-Current) (30) - Rental income 0 0 Interest received (finance income) 15 0 Net cash flow / (used in) investing activities (838) (225) C. Financing activities* Proceeds from long term borrowings 48 - Repayment of long term borrowings (716) (121) Proceeds/(repayment) from/of short term borrowings (net) (308) 68 Proceeds from issue of shares (net of share issue expenses) 1,477 0 Interest paid (including interest pertaining to Ind AS 116) (110) (105) Principal elements of leases payments (16) (14) Net cash flow from / (used in) financing activities 375 (172) Net increase/(decrease) in cash and cash equivalents 229 (129) Foreign exchange relating to cash and cash equivalents of foreign operations 3 14 Cash and cash equivalents as at the beginning of year 298 396 (2) - Cash and cash equivalents as at the period end 528 281 Components of cash and cash equivalents: Balances with banks In current account 328 281 Deposit with original maturity of less than 3 months 200 - Cash in hand 0 0 Total cash and cash equivalents 528 281 Amount appearing as "0" is below rounding off norm followed by the Group. *Non-cash financing and investing activities during the year pertain to acquisition / (derecognition) of right to use assets of₹ 21 crores (30 September 2025 : Nil) Less: Adjustment on account of initial application of Ind AS 109 amendment on April 01, 2026 Notes: The above consolidated statement of cashflows is prepared as per indirect method in accordance with Ind-AS 7 on Statement of Cash Flows. Q2 FY26-27 Financial Results 5 of 14 Sterlite Technologies Limited STl!
Page 9
STERLITE TECHNOLOGIES LIMITED Notes to consolidated financial results : # Interest has been paid on the due dates. *The listed Secured, Redeemable, Non-Convertible Debentures of the Company aggregating to Rs. 290 crores as on September 30, 2026, are secured by way of hypothecation on specified movable fixed assets at Shendra plants (both present and future). The Company has maintained hundred percent security cover sufficient to discharge the principal amount of the said debentures in terms of Regulation 54 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Credit rating by CRISIL for Secured Redeemable Non-Convertible Debentures issued by the Company is "AA / Stable" as on September 30, 2026. 1. The aforesaid consolidated financiaI results of Sterlite Technologies Limited (the "Company") were reviewed by Audit Committee and subsequently approved by the Board of Directors at its meeting held on October 23, 2026. The Statutory auditors have carried out a limited review of the consolidated resuIts for the period ended September 30, 2026, and expressed an unmodified conclusion on the aforesaid results. 2.The above consolidated financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) (Ind-AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. 3. During the period ended September 30, 2026, the Company has allotted 25,728,500 equity shares of face value Rs. 2 each at an issue price of Rs. 583.01 per equity share aggregating to Rs. 1,500 crores pursuant to Qualified Institutions Placement (QIP) under the provisions of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"), and section 42 and 62 of the Companies Act, 2013, including the rules made thereunder, each as amended. Pursuant to the QIP issue promoter's shareholding in the Company has been reduced from 44.44% as on March 31, 2026 to 42.29%. The management does not expect any material impacton account of the change in the promoter's shareholding. The proceeds from the issue have been utilised for (i) repayment, in full or part, of certain outstanding borrowings availed by the Company and its Subsidiaries; (ii) general corporate purposes and (iii) toward share issues expenses except for Rs. 2.68 crores which is lying in QIP escrow account. 4. During the period ended September 30, 2026, the Company allotted 1,96,395 equity shares of Rs. 2 each fully paid up, upon the exercise of Employee Stock Options. Post this allotment, the paid-up equity share capital of the Company stands increased from Rs. 103 crores divided into 513,861,038 equity shares of Rs. 2 each to Rs. 103 crores divided into 514,057,433 equity shares of Rs. 2 each. 5. Details of Secured, Redeemable, Non-Convertible Debentures as at September 30, 2026 are as follows: 6. Prysmian Cables and Systems USA, LLC (Prysmian) filed a complaint in the U.S. District Court for the District of South Carolina, Columbia Division, against Stephen Szymanski, ("Szymanski") an employee of Sterlite Technologies Limited's (STL) U.S. subsidiary, Sterlite Technologies Inc. (“STI”), as well as against STI, alleging inter alia that Szymanski violated certain non-compete and confidentiality agreements with the Plaintiff and subsequently divulged such confidential information to STI, which Plaintiff further alleges provided STI with an unjust competitive advantage. Szymanski and STI asserted affirmative and meritorious defenses to the allegations. STL is not a party to this dispute neither are any claims being made against it. On August 9, 2024, at the conclusion of the trial, which commenced on July 22, 2024, the Jury returned its verdict against Szymanski for $ 0.2 million and against STI for an amount of $ 96.5 million. On September 11, 2024, STI filed post-judgement motions requesting different types of post-triaI relief. On August 29, 2025, the Court subsequently confirmed the verdict, with the total award amounting to $ 101.25 million including attorneys’ fees and costs of $ 4.75 million. STI believes the judgment is unsupported by the testimony and evidence presented at trial and has filed an appeal with the United States Court of Appeals for the Fourth Circuit and deposited a Bond of $ 41.53 million. The ultimate financial implications, if any, cannot be ascertained at this stage. (Rs. in crores) Principal Interest Next Principal Installment Date Principal Amount Interest Date Interest Amount 8.50% Secured, Redeemable, Non-Convertible Debentures* NA March 25, 2026 March 24, 2028 72.50 March 24, 2027 24.65 Next Due Date Particulars Previous Due Date # Q2 FY26-27 Financial Results 6 of 14 Sterlite Technologies Limited STl!
Page 10
STERLITE TECHNOLOGIES LIMITED Notes to consolidated financial results : Year ended September 26 (Unaudited) June 26 (Unaudited) September 25 (Unaudited) September 26 (Unaudited) September 25 (Unaudited) March 26 (Audited) Debt equity ratio [{Total borrowings (including lease liabilities) (-) cash and cash equivalents (including unencumbered other bank balances) and current investments} / total equity] - 0.39 0.70 - 0.70 0.71 Debt service coverage ratio (not annualised) [Profit before interest, depreciation, amortisation and after tax and exceptional items / (finance cost + principal long term loan repayment)] 1.17 1.41 1.12 1.24 1.52 0.96 Interest service coverage ratio (not annualised) (Profit before interest, depreciation, amortisation and after tax and exceptional items / finance cost) 10.97 6.07 2.55 8.68 2.64 2.51 Current ratio [current assets / current liabilities] 1.55 1.38 0.90 1.55 0.90 0.98 Long term debt to working capital [Long term debt (Borrowings) / working capital] 0.42 0.71 17.25 0.42 17.25 6.82 Bad debt to accounts receivable ratio [(Bad debts + provision for doubtful debts) / trade receivables] 0.02 0.00 - 0.03 (0.01) 0.01 Current liability ratio [Current liabilities / total liabilities] 0.76 0.76 0.76 0.76 0.76 0.67 Total debt to total assets [Total debts (including lease liabilities)/ total assets] 0.12 0.24 0.33 0.12 0.33 0.31 Asset coverage ratio - NCD 8.50% [Written down value of secured asset mortgaged, hypothecated / outstanding amount of borrowing] 2.91 2.78 2.72 2.91 2.72 1.84 Asset coverage ratio - NCD 9.35% [Written down value of secured asset mortgaged, hypothecated / outstanding amount of borrowing] - - 1.85 - 1.85 - Trade receivables turnover ratio [Annualised revenue from operations / closing current trade receivables] 6.30 5.34 5.41 5.53 5.37 4.45 Inventory turnover ratio [Annualised cost of goods sold / closing inventory] 4.86 4.40 2.17 4.70 2.21 2.63 Operating margin (%) [Profit before interest and tax and after exceptional items / revenue from operations] 29% 16% 6% 24% 6% 7% Net Profit Margin (%) [Net profit after tax and exceptional items / revenue from operations] 20% 10% 0% 16% 1% 1% Capital redemption reserve (₹ in crores) 2 2 2 2 2 2 Net worth (₹ in crores) 4,174 2,166 1,920 4,174 1,920 1,966 7. The disclosures required as per the provisions of Regulation 52(4) and 54(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, are given below: Ratios Quarter ended 8. Exceptional items in the financial results includes: (i) On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Group had assessed the incremental impact of these changes and considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group had presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional Items" in the consolidated financial results for the year ended March 31, 2026. The incremental impact consisting of gratuity of Rs. 12 crores and long-term compensated absences of Rs. 3 crores primarily arises due to change in wages definition. The Group continues to monitor the finalisation of all applicable Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed (ii) Reversal of impairment charge of Rs. 31 crores during the year ended March 31, 2026 relating to assets of Jiangsu Sterlite Fiber Technology Co. Ltd (a wholly owned subsidiary of the Company) based on assessment of recoverable value of assets performed by management. Half-Year ended Q2 FY26-27 Financial Results 7 of 14 Sterlite Technologies Limited STl!
Page 11
STERLITE TECHNOLOGIES LIMITED Notes to consolidated financial results : Place: Mumbai For and on behalf of the Board of Directors of Date: October 23, 2026 Sterlite Technologies Limited Ankit Agarwal Managing Director DIN : 03344202 www.stl.tech Telephone : +91 20 30514000 Fax: +91 20 30514113 Registered office: Sterlite Technologies Limited, 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411001 12. These consolidated financial results are available on the Company's website viz. https://stl.tech/investor/ and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). 9. STL Digital Limited, a wholly owned subsidiary of the Company, had assessed the recoverability of its deferred tax assets (including on carryforward business losses) as at March 31, 2026 and based on such assessment, deferred tax assets to the extent of Rs. 41 crores were written-down during the year ended March 31, 2026. 10. Depreciation and amortisation / impairment expense for the quarter ended September 30, 2026, includes an impairment charge of Rs. 22 crores based on the assessment of recoverable value of certain property, plant and equipment performed by the Management. 11. The Company’s wholly owned subsidiaries, Sterlite Technologies Inc. and Sterlite Optical Connectivity NA LLC, received refund of import tariffs from U.S. Customs and Border Protection (CBP) during the quarter ended September 30, 2026 which was previously paid on certain goods imported into United States of America under the International Emergency Economic Powers Act (IEEPA) and was then expensed to Statement of Profit and Loss. Therefore, the profit before tax for the current quarter is higher by Rs. 161 crores (net) due to recognition of such refund received and resultant obligation arising therefrom. Q2 FY26-27 Financial Results 8 of 14 Sterlite Technologies Limited Ankit Agarwal Digitally signed by Ankit Agarwal Date: 2026.10.23 12:01:15 +05'30' SACHIN RAJNIKANT PAREKH Digitally signed by SACHIN RAJNIKANT PAREKH Date: 2026.10.23 12:19:17 +05'30' STl!
Page 12
Year ended September 26 (Unaudited) June 26 (Unaudited) September 25 (Unaudited) September 26 (Unaudited) September 25 (Unaudited) March 26 (Audited) Revenue from operations 1,399 929 559 2,328 1,102 2,446 Other income 70 49 39 119 77 179 Total income 1,469 978 598 2,447 1,179 2,625 Total expenditure 930 727 524 1,657 1,026 2,293 Cost of materials and components consumed 459 386 290 845 532 1,098 Purchase of stock-in-trade 55 58 50 113 112 283 (Increase) / decrease in inventories of finished goods, work in progress and stock-in-trade 85 9 (28) 94 (31) (28) Employee benefits expense 70 53 35 123 77 170 Net impairment losses on financial and contract assets 34 4 4 38 4 24 Other expenses 227 217 173 444 332 746 Earnings before exceptional item, interest, tax, depreciation and amortisation (EBITDA) 539 251 74 790 153 332 Finance costs 50 36 35 86 69 152 Depreciation and amortisation / impairment expense (refer note 10) 64 46 42 110 84 167 Profit/(loss) before exceptional item and tax 425 169 (3) 594 (0) 13 Exceptional items (refer note 9) - - - - - (10) Profit/(loss) before tax 425 169 (3) 594 (0) 3 Tax expense/(credit) : 106 44 (1) 150 (0) 1 Current tax 65 1 - 66 - 4 Deferred tax 41 43 (1) 84 (0) (3) Net profit/(loss) for the period / year 319 125 (2) 444 0 2 Other comprehensive income/(loss) A. i) Items that will be reclassified to profit or loss 12 48 3 60 (16) (38) ii) Income tax relating to these items (2) (12) (0) (14) 5 9 B. i) Items that will not be reclassified to profit or loss (2) 1 2 (1) 2 6 ii) Income tax relating to these items 0 (0) (0) 0 (0) (2) Total other comprehensive income/ (loss) for the period / year 8 37 5 45 (9) (25) Total comprehensive income/(loss) for the period / year 327 162 3 489 (9) (23) Paid-up equity share capital (face value ₹ 2 per share fully paid-up) 103 98 98 103 98 98 Other Equity 1,428 Earnings per equity share (EPS) (not annualised) Basic EPS (₹) 6.37 2.56 (0.05) 8.86 0.00 0.04 Diluted EPS (₹) 5.77 2.36 (0.05) 8.04 0.00 0.04 Amount appearing as "0" is below rounding off norm followed by the Company. Particulars STERLITE TECHNOLOGIES LIMITED (CIN : L31300PN2000PLC202408) STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 (₹ in crores except earnings per share) Quarter ended Half Year ended Q2 FY26-27 Financial Results 9 of 14 Sterlite Technologies Limited STl!
Page 13
(₹ in crores) (Unaudited) (Audited) Assets I. Non-current assets (a) Property plant & equipment 1,557 1,582 (b) Capital work in progress 159 16 (c) Investment Property 3 3 (d) Other intangible assets 13 15 (e) Financial assets (i) Investments 303 303 (ii) Loans 288 219 (iii) Other non-current financial assets 4 26 (f) Deferred tax assets (net) - 29 (g) Non-current tax assets (net) 42 28 (h) Other non-current assets 76 26 Total non-current assets 2,445 2,247 II. Current assets (a) Inventories 404 389 (b) Financial assets (i) Investments 528 4 (i) Trade receivables 968 559 (ii) Cash and cash equivalents 272 166 (iii) Other bank balances 109 11 (iv) Loans 338 416 (v) Other current financial assets 151 108 (c) Contract assets 2 1 (d) Other current assets 258 111 Total current assets 3,030 1,765 Total assets 5,475 4,012 Equity and liabilities Equity Equity share capital 103 98 Other equity 3,405 1,428 Total equity 3,508 1,526 Liabilities I. Non-current liabilities (a) Financial liabilities (i) Borrowings 338 867 (ii) Lease liabilities 28 35 (iii) Other non-current financial liabilities 1 13 (b) Employee benefit obligations 20 19 (c) Provisions 10 - (d) Deferred tax liabilities (net) 71 - Total non-current liabilities 468 934 II. Current liabilities (a) Financial liabilities (i) Borrowings 109 308 (ii) Advances under advance payment and sales agreement (APSA) 169 167 (iii) Lease liabilities 12 9 (iv) Acceptances 271 264 (v) Trade payables (A) total outstanding dues of micro and small enterprises 47 25 (B) total outstanding dues of creditors other than micro and small enterprises 626 574 (vi) Other current financial liabilities 174 117 (b) Contract liabilities 18 48 (c) Other current liabilities 26 21 (d) Employee benefit obligations 18 15 (e) Provisions 24 0 (f) Current tax liabilities (net) 5 4 Total current liabilities 1,499 1,552 Total liabilities 1,967 2,486 Total equity & liabilities 5,475 4,012 Amount appearing as "0" is below rounding off norm followed by the Company. STANDALONE BALANCE SHEET AS AT SEPTEMBER 30, 2026 Particulars (CIN : L31300PN2000PLC202408) STERLITE TECHNOLOGIES LIMITED 30 September 2026 31 March 2026 Q2 FY26-27 Financial Results 10 of 14 Sterlite Technologies Limited STl!
Page 14
(₹ in crores) Half year ended Half year ended 30 September 2026 30 September 2025 (Unaudited) (Unaudited) A. Operating activities Profit/(Loss) before tax 594 (0) Adjustments to reconcile profit before tax to net cash flows for continuing and discontinued operations : Depreciation and amortisation / impairment expense 110 83 Impairment losses on financial and contract assets 38 4 Liabilities no longer required written back - (3) Bad debts / advances written off 2 - (Profit) / Loss on sale of property, plant and equipment (net) (0) (2) Impairment provision for investment in subsidiaries - 2 Rental income (1) (0) Employee stock option expenses 17 (0) Finance costs (including interest pertaining to Ind AS 116) 86 69 Finance income (forming part of other income) (38) (23) Gain / Loss on investment measured at FVTPL (9) (1) Unrealized exchange difference (net) 1 (7) 206 123 Operating profit before working capital changes 800 123 Working capital adjustments: Increase/(decrease) in acceptances 7 (47) Increase/(decrease) in trade payables 72 (147) Increase/(decrease) in long-term provisions 10 (0) Increase/(decrease) in short-term provisions 23 (2) Increase/(decrease) in other current liabilities (16) (6) Increase/(decrease) in other current financial liabilities 38 4 Increase/(decrease) in contract liabilities (28) 26 Increase/(decrease) in other non-current financial liabilities (9) (0) Increase/(decrease) in non current employee benefits obligations 1 1 Increase/(decrease) in current employee benefits obligations 2 (1) Decrease /(increase) in trade receivables (434) 343 Decrease /(increase) in inventories (15) (64) Decrease/(increase) in other current financial assets (35) (22) Decrease/(increase) in contract assets (2) 0 Decrease /(increase) in other non-current financial assets 18 (8) Decrease /(increase) in other current assets (147) 12 Decrease/(increase) in other non-current assets 13 (0) Changes in working capital (502) 89 Cash generated from / (used in) operating activities 298 212 Income tax paid (net of refunds) (78) (20) Net cash flow from / (used in) operating activities 220 192 Particulars STANDALONE STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 (CIN : L31300PN2000PLC202408) STERLITE TECHNOLOGIES LIMITED Q2 FY26-27 Financial Results 11 of 14 Sterlite Technologies Limited STl!
Page 15
(₹ in crores) Half year ended Half year ended 30 September 2026 30 September 2025 (Unaudited) (Unaudited) Particulars STANDALONE STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2026 (CIN : L31300PN2000PLC202408) STERLITE TECHNOLOGIES LIMITED B. Investing activities* Payment for property, plant and equipment (220) (60) Purchase of intangible assets - (0) Proceeds from sale of property, plant and equipment 15 8 Sale / (Purchase) of current investment (net) (515) (122) Loans given to related parties (217) (66) Repayment of loans by related parties 247 50 Net movement in other bank balances (98) (21) Rental income 1 0 Interest received 9 6 Net cash flow from / (used in) investing activities (778) (205) C. Financing activities* Repayment of long - term borrowings (480) (2) Proceeds/(repayment) from/of short - term borrowings (net) (247) (53) Proceeds from issue of shares (net of share issue expenses) 1,477 0 Interest paid (including interest pertaining to Ind AS 116) (78) (60) Principal elements of lease payments (6) (6) Net cash flow from / (used in) financing activities 666 (121) Net increase/(decrease) in cash and cash equivalents 108 (134) Cash and cash equivalents as at the beginning of year 166 204 Less: Adjustment on account of initial application of Ind AS 109 amendment on April 01, 2026 (2) - Cash and cash equivalents as at the period end 272 70 Components of cash and cash equivalents: Balances with banks: In current account 72 70 Deposit with original maturity of less than 3 months 200 - Cash in hand 0 0 Total cash and cash equivalents 272 70 Amount appearing as "0" is below rounding off norm followed by the Company. Notes: The above standalone statement of cashflows is prepared as per indirect method in accordance with Ind-AS 7 on Statement of Cash Flows. *Non-cash financing and investing activities during the year pertain to acquisition / (derecognition) of right to use assets of₹ 1 crore (30 September 2025 : Nil). Q2 FY26-27 Financial Results 12 of 14 Sterlite Technologies Limited STl!
Page 16
STERLITE TECHNOLOGIES LIMITED Notes to standalone financial results : 7. Prysmian Cables and Systems USA, LLC (Prysmian) filed a complaint in the U.S. District Court for the District of South Carolina, Columbia Division, against Stephen Szymanski, ("Szymanski") an employee of Sterlite Technologies Limited's (STL) U.S. subsidiary, Sterlite Technologies Inc. (“STI”), as well as against STI, alleging inter alia that Szymanski violated certain non-compete and confidentiality agreements with the Plaintiff and subsequently divulged such confidential information to STI, which Plaintiff further alleges provided STI with an unjust competitive advantage. Szymanski and STI asserted affirmative and meritorious defenses to the allegations. STL is not a party to this dispute neither are any claims being made against it. On August 9, 2024, at the conclusion of the trial, which commenced on July 22, 2024, the Jury returned its verdict against Szymanski for $ 0.2 million and against STI for an amount of $ 96.5 million. On September 11, 2024, STI filed post-judgement motions requesting different types of post-triaI relief. On August 29, 2025, the Court subsequently confirmed the verdict, with the total award amounting to $ 101.25 million including attorneys’ fees and costs of $ 4.75 million. STI believes the judgment is unsupported by the testimony and evidence presented at trial and has filed an appeal with the United States Court of Appeals for the Fourth Circuit and deposited a Bond of $ 41.53 million. The ultimate financial implications, if any, cannot be ascertained at this stage. 6. Details of Secured, Redeemable, Non-Convertible Debentures as at September 30, 2026 are as follows: 1. The aforesaid standalone financiaI results of Sterlite Technologies Limited (the "Company") were reviewed by Audit Committee and subsequently approved by the Board of Directors at its meeting held on October 23, 2026. The Statutory auditors have carried out a limited review of the standalone resuIts for the period ended September 30, 2026, and expressed an unmodified conclusion on the aforesaid results. 2. Since the segment information as per Ind AS 108 - Operating Segments is provided on the basis of consolidated financial results, the same is not provided separately in standalone financial results. 3. During the period ended September 30, 2026, the Company has allotted 25,728,500 equity shares of face value Rs. 2 each at an issue price of Rs. 583.01 per equity share aggregating to Rs. 1,500 crores pursuant to Qualified Institutions Placement (QIP) under the provisions of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"), and section 42 and 62 of the Companies Act, 2013, including the rules made thereunder, each as amended. Pursuant to the QIP issue promoter's shareholding in the Company has been reduced from 44.44% as on March 31, 2026 to 42.29%. The management does not expect any material impacton account of the change in the promoter's shareholding. The proceeds from the issue have been utilised for (i) repayment, in full or part, of certain outstanding borrowings availed by the Company and its Subsidiaries; (ii) general corporate purposes and (iii) toward share issues expenses except for Rs. 2.68 crores which is lying in QIP escrow account. 4. The above statement have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind-AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. # Interest has been paid on the due dates. *The listed Secured, Redeemable, Non-Convertible Debentures of the Company aggregating to Rs. 290 crores as on September 30, 2026, are secured by way of hypothecation on specified movable fixed assets at Shendra plants (both present and future). The Company has maintained hundred percent security cover sufficient to discharge the principal amount of the said debentures in terms of Regulation 54 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Credit rating by CRISIL for Secured Redeemable Non-Convertible Debentures issued by the Company is "AA / Stable" as on September 30, 2026. 5. During the period ended September 30, 2026, the Company allotted 1,96,395 equity shares of Rs. 2 each fully paid up, upon the exercise of Employee Stock Options. Post this allotment, the paid-up equity share capital of the Company stands increased from Rs. 103 crores divided into 513,861,038 equity shares of Rs. 2 each to Rs. 103 crores divided into 514,057,433 equity shares of Rs. 2 each. (Rs. in crores) Principal Interest Next Principal Installment Date Principal Amount Interest Date Interest Amount 8.50% Secured, Redeemable, Non-Convertible Debentures* NA March 25, 2026 March 24, 2028 72.50 March 24, 2027 24.65 Next Due Date Particulars Previous Due Date # Q2 FY26-27 Financial Results 13 of 14 Sterlite Technologies Limited STl!
Page 17
STERLITE TECHNOLOGIES LIMITED Notes to standalone financial results : Year ended September 26 (Unaudited) June 26 (Unaudited) September 25 (Unaudited) September 26 (Unaudited) September 25 (Unaudited) March 26 (Audited) Debt equity ratio [{Total borrowings (including lease liabilities) (-) cash and cash equivalents (including unencumbered other bank balances) and current investments} / total equity] - 0.34 0.62 - 0.62 0.68 Debt service coverage ratio (not annualised) [Profit before interest, depreciation, amortisation and after tax and exceptional items / (finance cost + principal long term loan repayment)] 0.92 1.04 2.09 0.96 2.15 1.25 Interest service coverage ratio (not annualised) [Profit before interest, depreciation, amortisation and after tax and exceptional items / finance cost] 8.74 5.68 2.15 7.44 2.21 2.11 Current ratio [current assets / current liabilities] 2.02 1.75 0.67 2.02 0.67 1.14 Long term debt to working capital [Long term debt (Borrowings) / working capital] 0.22 0.45 (0.87) 0.22 (0.87) 3.51 Bad debt to accounts receivable ratio [(Bad debts + provision for doubtful debts) / trade receivables] 0.04 0.01 0.00 0.04 0.00 0.04 Current liability ratio [Current liabilities / total liabilities] 0.76 0.74 0.84 0.76 0.84 0.62 Total debt to total assets [Total debts (including lease liabilities)/ total assets] 0.09 0.23 0.30 0.09 0.30 0.30 Asset coverage ratio - NCD 8.50% (Written down value of secured asset mortgaged, hypothecated / outstanding amount of borrowing ) 2.91 2.78 2.72 2.91 2.72 1.84 Asset coverage ratio - NCD 9.35% (Written down value of secured asset mortgaged, hypothecated / outstanding amount of borrowing ) - - 1.85 - 1.85 - Trade receivables turnover ratio (Annualised revenue from operations / closing current trade receivables) 5.78 4.63 4.90 4.81 4.83 4.37 Inventory turnover ratio (Annualised cost of goods sold / closing inventory) 5.94 4.10 3.25 5.21 3.19 3.48 Operating margin (%) (Profit before interest and tax and after exceptional items / revenue from operations) 34% 22% 6% 29% 6% 6% Net Profit Margin (%) (Net profit after tax and exceptional items / revenue from operations) 23% 13% 0% 19% 0% 0% Capital redemption reserve (₹ in crores) 2 2 2 2 2 2 Net worth (₹ in crores) 3,398 1,589 1,452 3,398 1,452 1,460 Place: Mumbai For and on behalf of the Board of Directors of Date: October 23, 2026 Sterlite Technologies Limited Ankit Agarwal Managing Director DIN : 03344202 www.stl.tech Telephone : +91 20 30514000 Fax: +91 20 30514113 11. These standalone financial results are available on the Company's website viz. https://stl.tech/investor/ and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). Registered office: Sterlite Technologies Limited, 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411001 8. The disclosure required as per the provisions of Regulation 52(4) and 54(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is given below: Ratios 9. On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Group had assessed the incremental impact of these changes and considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group had presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional Items" in the standalone financial results for the year ended March 31, 2026. The incremental impact consisting of gratuity of Rs. 8 crores and long-term compensated absences of Rs. 2 crores primarily arises due to change in wages definition. The Company continues to monitor the finalisation of all applicable Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. Quarter ended Half-Year ended 10. Depreciation and amortisation / impairment expense for the quarter ended September 30, 2026, includes an impairment charge of Rs. 16 crores based on the assessment of recoverable value of certain property, plant and equipment performed by the Management. Q2 FY26-27 Financial Results 14 of 14 Sterlite Technologies Limited Ankit Agarwal Digitally signed by Ankit Agarwal Date: 2026.10.23 12:02:14 +05'30' SACHIN RAJNIKANT PAREKH Digitally signed by SACHIN RAJNIKANT PAREKH Date: 2026.10.23 12:19:45 +05'30' STl!
Page 18
Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T: +91 (22) 61197810 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors Sterlite Technologies Limited, 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra - 411001 1. We have reviewed the unaudited consolidated financial results of Sterlite Technologies Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries hereinafter referred to as the “Group”) (refer paragraph 4 below) for the quarter ended September 30, 2026 and the year to date results for the period April 01, 2026 to September 30, 2026 which are included in the accompanying Consolidated Financial Results for the Quarter and Half Year Ended September 30, 2026, the Consolidated Balance Sheet as on date and the Consolidated Statement of Cash Flows for the half-year ended on that date, together with the notes thereon (the “Statement”). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations, 2015”), which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Holding Company’s Management and has been approved by the Holding Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (‘SRE’) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” , issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
Page 19
Price Waterhouse Chartered Accountants LLP 4. The Statement includes the results of the Holding Company and following entities: Sr. No. Name of the entity Relationship 1 Sterlite Global Ventures (Mauritius) Limited Subsidiary 2 Speedon Network Limited Subsidiary 3 Elitecore Technologies SDN BHD. (Malaysia) Subsidiary 4 Sterlite (Shanghai) Trading Company Limited Subsidiary 5 Sterlite Tech Holding Inc. (USA) Subsidiary 6 Metallurgica Bresciana S.p.A Subsidiary 7 STL Digital Limited Subsidiary 8 Sterlite Tech Cables Solutions Limited Subsidiary 9 Sterlite Technologies Pty Ltd. Subsidiary 10 Sterlite Technologies DMCC Subsidiary 11 STL Tech Solutions Limited, UK Subsidiary 12 Jiangsu Sterlite Fiber Technology Co. Ltd. Step down subsidiary 13 Elitecore Technologies (Mauritius) Limited Step down subsidiary 14 Sterlite Technologies Inc. (South Carolina) Step down subsidiary 15 Optotec S.p.A Step down subsidiary 16 Optotec International S.A Step down subsidiary 17 STL Digital Inc. (USA) Step down subsidiary 18 STL Optical Connectivity NA, LLC Step down subsidiary 19 STL Solutions Germany GmbH Step down subsidiary 20 STL Digital UK Limited Step down subsidiary 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 6 of the unaudited consolidated financial results, which describes the status of a litigation against Sterlite Technologies Inc., USA, a subsidiary incorporated outside India, by another USA based entity. Management is pursuing legal remedies and has filed an appeal with the United States Court of Appeals for the Fourth Circuit, and the possible financial impact of the litigation is currently not determinable. Our conclusion is not modified in respect of this matter.
Page 20
Price Waterhouse Chartered Accountants LLP 7. The interim financial information of four subsidiaries reflect total assets of Rs. 1,976 crores and net assets of Rs. 625 crores as at September 30, 2026 and total revenue of Rs. 595 crores and Rs. 1,173 crores, total net profit/(loss) after tax of Rs. (9) crores and Rs. 33 crores and total comprehensive income/(loss) of Rs. (9) crores and Rs. 33 crores, for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026, respectively, and cash outflow (net) of Rs. 11 crores for the period from April 01, 2026 to September 30, 2026, as considered in the consolidated unaudited financial results. These interim financial information have been reviewed by other auditors in accordance with SRE 2400 “Engagements to Review Historical Financial Statements” and their reports, vide which they have issued an unmodified conclusion, have been furnished to us by the other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter. 8. The consolidated unaudited financial results include the interim financial information of twelve subsidiaries which have not been reviewed by their auditors, whose interim financial information reflect total assets of Rs. 695 crores and net assets of Rs. 470 crores as at September 30, 2026 and total revenue of Rs. 94 crores and Rs. 188 crores, total net loss after tax of Rs. 7 crores and Rs. 6 crores and total comprehensive loss of Rs. 7 crores and Rs. 6 crores for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026, respectively, and cash inflows (net) of Rs. 8 crores for the period from April 01, 2026 to September 30, 2026, as considered in the consolidated unaudited financial results. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group. Our conclusion on the Statement is not modified in respect of this matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Sachin Parekh Partner Membership Number: 107038 UDIN: 26107038HKIKVQ6949 Place: Mumbai Date: October 23, 2026 SACHIN RAJNIKANT PAREKH Digitally signed by SACHIN RAJNIKANT PAREKH Date: 2026.10.23 12:20:42 +05'30' y
Page 21
Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T: +91 (22) 61197810 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors Sterlite Technologies Limited, 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra - 411001 1. We have reviewed the unaudited standalone financial results of Sterlite Technologies Limited (the “Company”) for the quarter ended September 30, 2026 and the year to date results for the period April 01, 2026 to September 30, 2026, which are included in the accompanying Standalone Financial Results for the Quarter and Half Year Ended September 30, 2026, the Standalone Balance Sheet as on that date and the Standalone Statement of Cash Flows for the half-year ended on that date, together with the notes thereon (the “Statement”). The Statement has been prepared by the Company pursuant to Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations, 2015”), which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
Page 22
Price Waterhouse Chartered Accountants LLP 5. We draw attention to Note 7 of the unaudited standalone financial results, which describes the status of a litigation against Sterlite Technologies Inc, USA, a subsidiary incorporated outside India, by another USA based entity. Management is pursuing legal remedies and has filed an appeal with the United States Court of Appeals for the Fourth Circuit, and the possible financial impact of the litigation is currently not determinable. Our conclusion is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Sachin Parekh Partner Membership Number: 107038 UDIN: 26107038JHLGNR6378 Place: Mumbai Date: October 23, 2026 SACHIN RAJNIKANT PAREKH Digitally signed by SACHIN RAJNIKANT PAREKH Date: 2026.10.23 12:20:13 +05'30' A
Page 23
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 Annexure I - Integrated Filing (Financials) A. Unaudited Consolidated and Standalone Financial Results of the Company for the Quarter ended September 30, 2026 – Attached B. Statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. – Attached as Annexure II for Preferential Issue and Annexure III for Qualified Institutional Placement C. Disclosure of outstanding default on loans and debt securities – No default, hence Not Applicable D. Disclosure of related party transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter) – will be filed along with XBRL for financial results. E. Statement on impact of audit qualifications (for audit report with modified opinion) submitted along- with annual audited financial results (standalone and consolidated separately) (applicable only for annual filing i.e., 4th quarter)– Not applicable STl!
Page 24
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 Annexure II Statement of Deviation/ Variation in utilisation of funds raised Name of listed entity Sterlite Technologies Limited Mode of Fund Raising Warrants convertible into Equity Shares on Preferential Basis Date of Raising Funds March 30, 2026 (Being date of allotment) Amount Raised Rs. 1,24,57,50,000 (25% of the price at which the warrants are issued) Report filed for Quarter ended September 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable CARE Ratings Limited Is there a Deviation / Variation in use of funds raised No If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders Not Applicable If Yes, Date of shareholder Approval Not Applicable Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after review Nil Comments of the auditors, if any Nil Objects for which funds have been raised and where there has been a deviation/ variation, in the following table: Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised* Amount of Deviation/ Variation for the quarter according to applicable object Remarks, if any Repayment/ Servicing of financial facilities availed by the Company Not Applicable 373.73 Crores Not Applicable 113.3 Crores Not Applicable - General Corporate Purposes Not Applicable 124.57 Crores Not Applicable 13.28 Crores Not Applicable - *The Company has received Rs. 124.58 crores i.e., 25% of the Warrant Issue Price (Rs.110/ -per Warrant) at the time of subscription in Q4FY26, i.e. till March 31, 2026. No funds were received during Q2FY27. .. -- ~ .,,,
Page 25
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 Amount mentioned under 'Fund utilized' is overall utilization of funds till quarter ended September 30, 2026. And no amount was utilized during the current quarter ended September 30, 2026. Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc. STl!
Page 26
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 Annexure III Statement of Deviation/ Variation in utilisation of funds raised Name of listed entity Sterlite Technologies Limited Mode of Fund Raising Qualified Institutional Placement Date of Raising Funds July 01, 2026 (Being date of allotment) Amount Raised Rs. 1500 Crores Report filed for Quarter ended September 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable CARE Ratings Limited Is there a Deviation/ Variation in use of funds raised No If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders Not Applicable If Yes, Date of shareholder Approval Not Applicable Explanation for the Deviation/ Variation Not Applicable Comments of the Audit Committee after review Nil Comments of the auditors, if any Nil Objects for which funds have been raised and where there has been a deviation/ variation, in the following table: Original Object Modified Object, if any Original Allocation (Rs. In Crore) Modified allocation, if any Funds Utilised (Rs. In Crore) Funds Unutilised* (Rs. In Crore) Amount of Deviation/ Variation for the quarter according to applicable object Remarks, if any Repayment/ pre - payment, in part or in full, of certain outstanding borrowings availed by the Company and certain Subsidiaries Not Applicable 1,103.77 Not Applicable 1,103.77 - Not Applicable - - . .. ~ - ·' ~
Page 27
www.stl.tech Sterlite Technologies Limited Registered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 General Corporate Purposes Not Applicable 367.92 Not Applicable 371.43 - Savings in issue expenses has been utilized towards General Corporate Purposes as per the approval of board of the company. Issue Expenses Not Applicable 28.31 Not Applicable 22.12 2.68* *The Company has transferred unutilised funds of 2.68 crores in the escrow account. Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc.