Rs 11,000 crore order book: This telecom manufacturing company is among the first Indian Optical companies to transition to Green Hydrogen; know more here!

The stock gave multibagger returns of over 830 per cent in 1 decade.

Sterlite Technologies Ltd, a leading optical and digital solutions company, today announced that it has collaborated with Hygenco, a homegrown green hydrogen solutions provider, for the supply of Green Hydrogen to its manufacturing plants. In this long-term offtake agreement, Hygenco will operate the Green Hydrogen facility for STL for 20 years. This facility will be based on renewable energy and commissioned in the next 15-18 months. This project will be the very first Green Hydrogen project in India's Optical industry and boost STL’s NetZero by 2030 ambition.

STL has deep expertise in materials science, photonics and precision engineering and has set up a semiconductor-grade Glass Preform Plant in Aurangabad, Maharashtra. This Industry 4.0 powered plant is dedicated to manufacturing Glass Preforms, which are used to draw world-class optical fibre. Hydrogen and Oxygen are critical components in the production of optical fibre and are used as fuel in blast furnaces for making glass from silica particles. In the optical fibre value chain, gases like Hydrogen and Oxygen are considered as hard to decarbonise areas. STL and Hygenco, through this ambitious Green Hydrogen partnership, aim at carbon abatement to the tune of ~30% year on year.

Currently, STL uses electrolysers running on conventional energy. Now, renewable energy-based electrolysers installed by Hygenco will enable STL to in-source its Hydrogen requirement, thereby reducing occupational health hazards associated with procuring Hydrogen in cylinders. Equipped with autonomous energy management and control, this system will also enable constant monitoring and real-time decision-making to ensure optimal efficiency.

On Thursday, shares of Sterlite Technologies Ltd surged 2.92 per cent to Rs 162.05 per share from its previous closing of Rs 157.45. The shares of the company saw a spurt in volume by more than 2.30 times on BSE.

Order book: As of June 30, 2023, the company’s order book stood at Rs 10,938 crore which is spread across its three business units- Optical Networking, Global Services, and Digital. The company's order book now exceeds Rs 11,000, including the most recent order whereas the company's current market cap is Rs 6,230 crore.

The stock gave multibagger returns of over 830 per cent in 1 decade. Investors should keep an eye on this telecom stock.

Disclaimer: The article is for informational purposes only and not investment advice.