Sterling Tools Limited, a prominent player in the automotive component industry, has received shareholder approval for the re-appointment of Mr. Rakesh Batra as a Non-Executive Independent Director. The decision was made during the company's 46th Annual General Meeting (AGM) held on September 25, 2025.

Extended Tenure

Mr. Batra's new term as an Independent Director will span five years, commencing from November 10, 2025. This re-appointment underscores the company's confidence in Mr. Batra's expertise and his continued value to the organization.

Impressive Credentials

Rakesh Batra brings a wealth of experience and knowledge to his role at Sterling Tools. His educational background includes:

• B.Tech from the Indian Institute of Technology (IIT), Kharagpur
• Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management (IIM), Ahmedabad
• Master of Business & Technology (MBT) from the University of New South Wales (UNSW)

Extensive Industry Experience

With over 43 years of management and consulting experience, Mr. Batra has made significant contributions to the automotive, industrial equipment, and manufacturing sectors. His expertise spans corporate strategy, supply chain management, and business transformation.

Previous Roles and Current Positions

Mr. Batra's career highlights include:

• Partner and leader of the Automotive Sector with EY India
• Currently serves as an Industry Expert and Independent Director on the boards of leading automotive companies in both the United States and India

Regulatory Compliance

Sterling Tools Limited has confirmed that Mr. Batra has not been debarred from holding a directorship by the Securities and Exchange Board of India (SEBI) or any other regulatory authority.

Company Performance

During the AGM, Sterling Tools Limited shared some notable financial achievements:

The company crossed the ₹1,000 crore revenue milestone for the first time in its history.

Future Outlook

Sterling Tools Limited has outlined a five-year vision to evolve into a diversified automotive component powerhouse. The company aims for new business verticals to contribute 50% of total revenue by 2030, with a focus on the electric vehicle (EV) ecosystem through its subsidiary, Sterling Gtake E-Mobility (SGEM).

The re-appointment of Mr. Rakesh Batra as an Independent Director aligns with Sterling Tools' strategy for growth and diversification in the automotive component sector. His extensive experience and industry knowledge are expected to contribute significantly to the company's future endeavors and strategic decision-making processes.

Sterling Tools has announced a significant partnership with Landworld Technology Co. Ltd. of China, marking a strategic move into the electric vehicle (EV) component manufacturing sector. This collaboration aims to establish local production of on-board chargers and DC/DC converters in India, bolstering the country's EV charging infrastructure.

Partnership Details

Sterling Tools, through its subsidiary Sterling Gtake E-Mobility Limited (SGEM), has signed Technology License and Supply agreements with Landworld Technology. The partnership focuses on manufacturing key EV charging infrastructure components domestically, including:

• On-board Chargers
• DC/DC Converters
• Multi-Function Units (incorporating On-Board Chargers, DC/DC converters, and Power Distribution Units)

These components are crucial for the electrification of both passenger and commercial vehicles.

Manufacturing and Revenue Projections

The production of these EV components will take place at Sterling's EV campus in Faridabad. The partnership has set an ambitious target, projecting revenue of approximately ₹450.00 crore by the fiscal year 2030. This figure is particularly significant considering the overall market for these components is expected to reach ₹3,000.00 crore.

Strategic Importance

Anil Aggarwal, Chairman of Sterling Tools Limited, emphasized the strategic importance of this partnership, stating, "This partnership creates greater depth in the EV ecosystem in India. We are expanding beyond our initial Motor Control Unit & Power Train platforms to meet our customer's growing demand for advanced technology in the EV sector."

The collaboration aligns with several key objectives:

1. Import Substitution: By producing these components domestically, the partnership supports the Atmanirbhar Bharat (Self-Reliant India) vision.
2. Make in India Initiative: The local manufacturing effort contributes to the government's push for domestic production.
3. Technology Access: Indian companies and suppliers will have local access to advanced EV technology.
4. Ecosystem Development: The partnership aims to build a self-reliant ecosystem for the auto industry in India.

Landworld Technology's Perspective

Lin Chen, Vice General Manager of Landworld Technology Co., Ltd., expressed optimism about the Indian EV market's potential. Chen stated, "Through our partnership with Sterling Gtake, we are bringing our proven expertise in On-Board Chargers and DC/DC converters to Indian customers across several EV vehicle categories."

Broader Impact on Sterling's EV Strategy

This partnership is part of Sterling Tools' broader strategy to develop competence in EV Power Electronics and build a comprehensive portfolio serving the Indian Auto Industry. It follows previous collaborations, including agreements with Jiangsu Gtake Electric Co. Ltd. (China) and Advanced Electric Machines (UK).

The move into on-board chargers and DC/DC converters complements Sterling's existing EV component offerings, which include Motor Control Units and various powertrain solutions.

Market Outlook

As the EV market in India continues to grow, this partnership positions Sterling Tools to capitalize on the increasing demand for locally manufactured, high-quality EV components. The company's expansion into this sector reflects the broader trend of traditional automotive suppliers adapting to the shift towards electric mobility.

With the Indian government pushing for greater EV adoption and the automotive industry undergoing a significant transformation, Sterling Tools' strategic partnership with Landworld Technology appears well-timed to meet the evolving needs of the market while contributing to the country's self-reliance goals in the automotive sector.