Sterlite Technologies Ltd announced its Lakshya growth ambition to reach Rs 20,000 crore revenue by FY29 from Rs 4,745 crore in FY2025-26, supported by AI-led optical demand and India data-centre growth. The company plans to invest about Rs 1,000 crore annually over the next three financial years to expand fibre and cable capacities by 50%.

Sterlite Technologies Limited was locked at the 5% upper circuit at Rs 750.15 after sharing its Lakshya Growth Roadmap FY27-29 targeting Rs 20,000 crore revenue by FY29 versus Rs 4,750 crore in FY26 and EBITDA margin above 27% versus 13%. The plan includes Rs 1,000 crore annual investment for three years to expand preform, fibre and cable capacity by 50% and a greenfield pre-terminated connectivity facility. CLSA reiterated Outperform and raised its target price to Rs 950 from Rs 655, citing a Q1FY27 order book of Rs 18,600 crore after a $1.1 billion US hyperscaler win and a Rs 15 billion QIP that made the balance sheet net debt free.

Sterlite Technologies Limited approved a Rs 3,000 crore capacity expansion at existing manufacturing facilities to meet rising global demand for optical fibre cables and connectivity solutions, to be funded through internal accruals and/or debt.

Sterlite Technologies Limited saw foreign institutional investors raise their holding by 6.75 percentage points to 18.22% in Q1, while its stock soared 248%. The company reported its strongest Q1FY27 performance on optical connectivity and data centre demand, with its order book surging 155% quarter-on-quarter to Rs 18,600 crore. CLSA upgraded the stock to Outperform with a target of Rs 950, implying 37% upside.