STERLITE TECHNOLOGIES — AI NEEDS FIBRE &....

Everyone is talking about GPUs. But GPUs are useless if the data cannot move fast enough. That's where Sterlite Technologies enters the picture. STL has evolved from an optical-fibre company into a broader connectivity solutions provider for AI-ready digital infrastructure, serving telecom operators, hyperscalers, data centres and enterprises across 100+ countries. And Q1 FY27 delivered a serious breakout. Revenue hit a record ₹1,910 crore, up nearly 87% YoY. EBITDA exploded 184% to ₹397 crore, while PAT reached ₹197 crore versus just ₹10 crore a year earlier. EBITDA margin jumped to 20.8% — the highest level in nearly 20 quarters. But the number investors should watch most closely? ₹18,618 crore. That's STL's record open order book. And the biggest catalyst behind it is no longer just traditional telecom. It's AI DATA CENTRES. STL secured a multi-year $1.11 billion contract for optical connectivity products for next-generation AI data centres, along with $100 million+ of hyperscaler orders for its Neuralis data-centre portfolio. Why does AI create such an opportunity? More GPUs → More servers → More bandwidth → More fibre → More high-density connectivity. STL is positioning its Neuralis portfolio specifically around this requirement, including ultra-high-density cabling and pre-terminated fibre systems designed to accelerate data-centre deployment. And the balance sheet has changed dramatically. AI infrastructure spending can be cyclical, large contracts bring execution risk, global competition remains intense, and STL still has exposure to commodity prices and international markets. There is also ongoing US patent litigation involving a subsidiary, with the financial impact currently uncertain. AI needs compute. Compute needs data. Data needs bandwidth. Bandwidth needs fibre.