Sterlite Technologies

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Sterlite Technologies Limited
Type Public company
Traded as
Founded 2000[1]
Headquarters Pune, Maharashtra, India[2]
Products Optical Fibers, Fiber Optic Cables, Copper Telecom Cables, Structured Data Cables, ADSL2+ Modems
Revenue INR24545 million (US$410 million)[3]
Operating income INR2461 million (US$41 million)[3]
Website Official Website

Sterlite Technologies Ltd. is an Indian manufacturer of optical fibers, telecommunication cables and power transmission conductors and exports optical fiber to overseas markets in China, Europe and South East Asia.[4] The company is listed on the Bombay Stock Exchange and the National Stock Exchange of India. The company changed its name to 'Sterlite Technologies Limited' from Dec.2006. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.[5]

Sterlite Technologies is partially owned by Sterlite Industries (India) Limited, which is in turn 77%-owned by Vedanta Resources.

The Company has an optical fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa, Pune& Haridwar India. In 2002, Sterlite was forced to shelve plans for a large new facility in Bangalore due to market weakness.[6]

Awards and controversies[edit]

A Sterlite Technologies ADSL2+ Modem

In 2002, Sterlite was the subject of a major lawsuit by Fitel USA, a subsidiary of Furukawa Electric charging Sterlite with infringement of a number of optical fiber patents including those related to manufacturing fiber with low polarization mode dispersion.

Sterlite was cited in an Indian parliamentary discussion of government purchasing irregularities. Sterlite was served a show cause cum demand notice by the Indian Customs and Excise authorities for alleged willful evasion of Custom and Excise Duties in year 2002. This matter is presently listed for hearing at the Supreme Court of India.

Sterlite Optical Technologies is the only company to be awarded the 'Top Telecom Cables Company' in India, four times in the past five years, as per the annual V&D 100 Survey[citation needed] and is a winner of the 'Amity Award for Corporate Excellence' and 'ELCINA Award for R&D' in 2006.[citation needed]

Deloitte has nominated Sterlite Optical Technologies as the 6th Fastest Growing Technology Company in India in 2006.[citation needed] The Company is among the winners of the 'Deloitte Technology Fast 50 India & Fast 500 Asia Pacific awards for 2005 & 2006.[citation needed]

References[edit]

  1. ^ "Corporate profile". http://sterlitetechnologies.com/. Retrieved 5 October 2010. 
  2. ^ ":: Sterlite - Contact Us ::". Sterlitetechnologies.com. Retrieved 5 October 2010. 
  3. ^ a b "BSE Plus". Bseindia.com. Retrieved 5 October 2010. 
  4. ^ "Sterlite optical technologies Ltd On the wings of light". Indianotes.com. Retrieved 5 October 2010. 
  5. ^ Keith Dsilva (28 March 2007). "Sterlite Optical Technologies to supply Power Conductors for India's first 500kV HVDC Lines for 2500 MW Power Transmission". Indiaprwire.com. Retrieved 5 October 2010. 
  6. ^ "Times of India Tech: Latest IT, telecom, Internet, BPO news and updates". Infotech.indiatimes.com. Retrieved 5 October 2010. 

External links[edit]