STL Networks Limited (STLN), a prominent player in the telecom infrastructure sector, has announced a significant move to bolster its financial position. The company's Authorization and Allotment Committee has approved raising funds through the issuance of listed, secured, redeemable, non-convertible debentures (NCDs) worth up to ₹300 crores via private placement in one or more tranches.

NCD Issuance Details

The proposed NCD issuance has received a rating of 'IND A-'/Stable from India Ratings and Research (Ind-Ra). This rating reflects STLN's robust business profile and its established track record in the telecom industry. The key details of the NCD issuance are as follows:

Company Profile and Financial Performance

STL Networks Limited, representing the Global Services Business of Sterlite Technologies Limited post-demerger (effective March 31, 2025), offers comprehensive solutions across fiber network services, system integration, IT infrastructure management, and data center network setup.

The company's financial performance in FY25 showed some challenges:

Despite a decline in revenue and EBITDA, STLN maintains a strong order book of over ₹65 billion as of June 2025, providing a book-to-bill ratio of over 5.5x based on FY25 revenue.

Industry Outlook and Growth Prospects

STLN is well-positioned to capitalize on India's accelerating digital transformation. Key government initiatives such as BharatNet Phase III, Smart Cities Mission, and Digital India are driving large-scale connectivity and infrastructure development. The nationwide rollout of 5G technology and increasing adoption of Fiber to the Home are further amplifying demand for high-speed and reliable networks.

Challenges and Outlook

While STLN faces challenges such as an elongated working capital cycle and modest credit metrics, Ind-Ra expects gradual improvement in the near to medium term. This improvement is anticipated to be driven by enhanced profitability, a moderated working capital cycle, and the release of locked-up funds.

The company's focus on increasing revenue share from technology and annuity-led revenue lines, such as data center network setup, maintenance, and system integration, is expected to support growth and profitability improvement.

As STLN navigates through its current financial challenges and capitalizes on favorable industry trends, the success of its strategies and the timely execution of its order book will be crucial for its future performance and financial health.

STL Networks Limited has announced significant changes in its senior management structure with the appointment of Ms. Prerna Wadhwa as Head-Legal and Senior Management Personnel, effective December 24, 2025. This development comes as the company continues to strengthen its leadership team following the earlier announced resignation of Manish Ranjan from the same position.

Board Approval and Appointment Details

The Board of Directors of STL Networks Limited approved the appointment on December 23, 2025, based on the recommendation of the Nomination and Remuneration Committee. The appointment was disclosed in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Professional Background and Expertise

Ms. Prerna Wadhwa brings over a decade of experience to her new role. She originally joined STL Networks on June 30, 2022, and has been handling the company's legal functions with a focus on strategic counsel and risk management.

Educational Qualifications

Professional Experience

Prior to joining STL Networks, Wadhwa was associated with several prominent organizations including Bharat Broadband Network Limited, a Government of India undertaking. She has also worked with large conglomerates such as the Avanthe Group and the Amtek Group, as well as multinational consulting firms SCS Global-Japan and M1Xchange.

Key Responsibilities and Contributions

In her current role at STL Networks, Wadhwa has demonstrated expertise in multiple areas:

• Legal Function Management: Providing strategic counsel with emphasis on effective risk management
• High-Stakes Litigation: Proven track record in handling civil, regulatory, and arbitration matters
• Corporate Strategy: Active involvement in strategic fundraising initiatives, corporate and financial restructuring
• Mergers and Acquisitions: Extensive experience in M&A transactions
• Compliance and Governance: Hands-on experience in legal and corporate compliance, board governance, and stakeholder management

Leadership Transition Context

This appointment effectively fills the position that will be vacated by Manish Ranjan, the outgoing Head-Legal, whose resignation was announced earlier with a last working day scheduled for March 17, 2026. The seamless transition demonstrates STL Networks' proactive approach to maintaining continuity in its legal leadership.

Company's Commitment to Governance

According to the company's disclosure, Wadhwa actively supports STL Networks' commitment to ethical business practices and contributes to fostering a culture of integrity, transparency, and robust governance. This aligns with the company's strategic focus as it continues to navigate the competitive telecom infrastructure sector.

The appointment reinforces STL Networks' emphasis on strengthening its senior management team as the company works to improve its financial performance and leverage its strong order book of over INR 65.00 billion as of June 2025.