Sterlite Tech Approves ₹3000 Cr Capacity Expansion

Sterlite Technologies Limited's Board of Directors has approved a significant capital expenditure of approximately ₹3,000 crores to enhance its existing manufacturing facility. This expansion aims to increase the company's optical fiber cable and connectivity business capacity by approximately 50% over the existing installed base. The expansion is planned to be completed by the end of FY29 and will be financed through internal accruals and/or debt. The rationale behind this move is to cater to the anticipated global growth in demand for these products and to strengthen Sterlite Tech's manufacturing capabilities.