Sterling Tools Accelerates EV Growth with Product Diversification and New Partnerships
Sterling Tools Limited (STL) is expanding its presence in the electric vehicle (EV) sector through product diversification and strategic partnerships. Its subsidiary, Sterling Gtake E-Mobility (SGEM), secured a nomination for DC/DC converters from a major e-CV OEM. Another subsidiary, Sterling Tech-Mobility Limited (STML), plans to start commercial production of HVDC contactors and relays by FY26. STL has formed partnerships with global tech leaders and approved an investment of up to Rs. 20 crore in STML. The company also added Hyundai Motors to its customer base. Despite a 5.10% decline in the domestic auto industry in Q1 FY26, STL's fasteners business remained stable, reporting a consolidated total income of Rs. 195 crore and adjusted EBITDA of Rs. 26.50 crore.
07Aug 25
Sterling Tools Reports Q1 Results with 31% Revenue Decline, Plans EV Component Expansion
Sterling Tools Limited reported a 31.3% decline in Q1 consolidated revenue to Rs 195.00 crore, with profit after tax down 51.2% to Rs 9.00 crore. The standalone fasteners business remained stable. The company is expanding its EV component business through subsidiaries SGEM and Sterling Tech-Mobility. The Board approved financial results, appointed a new Company Secretary, re-appointed a director and cost auditor, and approved a Rs 20.00 crore investment in a subsidiary. The 46th Annual General Meeting is scheduled for September 13.
26Jun 25
Sterling Tools Faces ₹99 Million GST Notice from CGST Dehradun
Sterling Tools Ltd., an automotive fastener manufacturer, has received a Goods and Services Tax (GST) notice from Central GST authorities in Dehradun for ₹99.00 million. The notice raises questions about the company's tax compliance and could potentially impact its financial position. Sterling Tools has not yet disclosed its planned response to the notice.
Sterling Tools Inks Exclusive Deal for EV Motor Manufacturing, Reports Q4 and FY23 Results
Sterling Tools' subsidiary signed an exclusive agreement with AEM Ltd, UK to manufacture magnet-free EV traction motors in India. The company reported FY23 revenue of ₹651.61 crore and Q4 FY23 revenue of ₹165.24 crore. The board recommended a final dividend of ₹2.50 per equity share for FY23.
13May 25
Sterling Tools Reports Decline in Q4 Financial Performance
Sterling Tools, an automotive component manufacturer, released its Q4 FY results showing significant declines across key financial metrics. Revenue fell by 26% to ₹1.99 billion, EBITDA decreased by 40% to ₹185 million, and net profit dropped by 46% to ₹88 million. The EBITDA margin also contracted from 11.46% to 9.28%, indicating operational challenges.
28Mar 25
NCLT Approves Sterling Tools' Amalgamation with Haryana Ispat, Streamlining Operations
Sterling Tools Limited has received NCLT approval for its amalgamation with Haryana Ispat Private Limited. The merger aims to simplify group structure, reduce costs, and improve operational efficiency. No new shares will be issued as Haryana Ispat is a wholly-owned subsidiary. All assets, liabilities, and employees of Haryana Ispat will be transferred to Sterling Tools. The scheme is expected to benefit stakeholders and enhance Sterling Tools' market position in the fastener manufacturing sector.