STLNETWORK - STL Networks
📢 Recent Corporate Announcements
STL Networks Limited has approved the allotment of 40,341 equity shares following the exercise of options under its Employee Stock Option Scheme - 2025 (SNL ESOS 2025). The shares, with a face value of ₹2 each, were issued at an exercise price of ₹2 per share, realizing a total of ₹80,682. This allotment increases the company's total issued share capital to 48,79,86,306 shares. The company has stated that the impact on diluted earnings per share (EPS) is negligible due to the small quantity of shares issued.
- Allotment of 40,341 equity shares of face value ₹2 each under the SNL ESOS 2025 scheme.
- Total money realized by the company from the exercise of options is ₹80,682.
- Total issued share capital increased to 48,79,86,306 shares post-allotment.
- Options were exercised at a price of ₹2 per share, equivalent to the face value.
- The company confirmed that the dilution effect on EPS is negligible.
STL Networks Limited has received a demand order for Rs 6.06 crore from the Joint Commissioner CGST & CX, Haldia Commissionerate. The order pertains to the financial year 2019-20 and relates to discrepancies between GSTR-7 (GST TDS) and GSTR-3B filings. This liability was transferred to the company following the demerger of the Global Services Business from Sterlite Technologies Limited. The company believes the demand is not maintainable and is preparing to file an appeal, expecting no significant impact on its financials.
- Demand order issued for an aggregate amount of Rs 6.06 crores.
- Relates to discrepancies in taxable turnover and GST for the financial year 2019-20.
- Liability stems from the Global Services Business demerged from Sterlite Technologies Limited effective March 31, 2025.
- Company is evaluating legal options and intends to file an appeal against the order.
- Management states the demand is not maintainable and envisages no major financial impact.
STL Networks Limited has announced a change in its senior leadership team effective February 13, 2026. Mr. Arun Goyal, an internal candidate who joined the firm in 2018, has been promoted to Fiber BU-Head and designated as Senior Management Personnel. Simultaneously, Mr. Srinivasan Devarajan has ceased to be part of the Senior Management Personnel group. The appointment of Mr. Goyal, who has prior experience at Nokia and Airtel, aims to leverage his project management expertise in the fiber segment.
- Appointment of Mr. Arun Goyal as Fiber BU-Head effective February 13, 2026
- Mr. Srinivasan Devarajan exits the Senior Management Personnel role on the same date
- Arun Goyal brings extensive experience from previous roles at Nokia, Alcatel Lucent, and Airtel
- The transition was approved by the Board following recommendations from the Nomination and Remuneration Committee
STL Networks Limited has bagged a significant purchase order worth INR 206.49 crore from National Informatics Centre Services Incorporated (NICSI). The contract involves the procurement of network equipment for the National Knowledge Network (NKN). The project requires a rapid implementation within 12 weeks, followed by a long-term 5-year warranty and Annual Maintenance Contract (AMC). This domestic order reinforces the company's strong position in the government digital infrastructure sector.
- Total order value is INR 206.49 Crore inclusive of taxes
- Awarded by National Informatics Centre Services Incorporated (NICSI) for NKN procurement
- Implementation timeline is set at a tight 12-week duration
- Includes a 5-year commitment for Warranty and Annual Maintenance Contracts (AMC)
- The contract is a domestic order with no promoter or related party interest
STL Networks reported a sequential recovery in Q3 FY26 with revenue from operations reaching ₹304.76 crore, up 54% from the previous quarter. While the company posted a net loss of ₹2.24 crore, it is a significant improvement from the ₹12.24 crore loss in Q2 FY26. Profitability was weighed down by a ₹4.96 crore exceptional item related to new Labour Code compliance and high finance costs of ₹27.91 crore. Investors should closely monitor the ₹307 crore in disputed receivables currently under arbitration, for which a ₹61 crore credit loss provision has already been made.
- Revenue from operations grew 14.6% YoY to ₹304.76 crore in Q3 FY26.
- Net loss narrowed to ₹2.24 crore compared to a loss of ₹12.24 crore in the preceding quarter.
- EBITDA stood at ₹32.17 crore for the quarter, reflecting a margin of approximately 10.5%.
- Company raised ₹250 crore via Non-Convertible Debentures (NCDs) between October 2025 and January 2026.
- Significant receivables of ₹307.15 crore are currently under arbitration, with ₹61 crore recognized as expected credit loss.
STL Networks reported Q3 FY26 revenue of ₹304.76 crore, showing a sequential recovery of 53.7% but a YoY shift from profit to a net loss of ₹2.24 crore. The bottom line was pressured by high finance costs of ₹27.91 crore and a one-time exceptional charge of ₹4.96 crore for labor code compliance. For the nine-month period ending Dec 2025, the company remains in a loss of ₹12.42 crore compared to a profit of ₹30.77 crore in the previous year. Additionally, the company is managing significant disputed receivables of over ₹300 crore currently under arbitration.
- Q3 FY26 Revenue at ₹304.76 Cr, up 14.6% YoY and 53.7% QoQ
- Net Loss of ₹2.24 Cr in Q3 FY26 compared to a Net Profit of ₹7.58 Cr in Q3 FY25
- Finance costs for the quarter stood at ₹27.91 Cr, nearly equal to the EBITDA of ₹32.17 Cr
- Exceptional item of ₹4.96 Cr recorded for statutory impact of new Labour Codes
- Raised ₹250 Cr through NCDs at interest rates between 10.25% and 10.35% to shore up capital
STL Networks Limited has emerged as the Lowest Bidder (L1) for a significant domestic contract from National Informatics Centre Services Incorporated (NICSI). The project involves the procurement of network equipment through the National Knowledge Network (NKN) and is valued at INR 175 crore, excluding taxes. This win demonstrates the company's competitive strength in the government networking infrastructure segment. The order is expected to provide substantial revenue visibility for the company in the near term.
- Emerged as the L1 bidder for a contract from National Informatics Centre Services Incorporated (NICSI).
- Total order value is approximately INR 175 crore, excluding applicable taxes.
- The scope of work involves the procurement of network equipment through the National Knowledge Network (NKN).
- The contract is awarded by a domestic government entity, ensuring high credibility and low credit risk.
STL Networks Limited was fined ₹11,800 by the National Stock Exchange (NSE) for a two-day delay in filing related party transaction (RPT) disclosures for the half-year ended September 30, 2025. The company clarified that while the filing was submitted on time to the BSE, a procedural misunderstanding led to the delay at the NSE. The Board of Directors reviewed the matter on February 03, 2026, noting that the fine has already been paid and there was no malafide intent. Management has been instructed to strengthen compliance processes to prevent future lapses.
- NSE levied a fine of ₹10,000 plus 18% GST (Total ₹11,800) for non-compliance with Regulation 23(9)
- The delay in filing related party transaction disclosures was limited to 2 days for the half-year ended Sept 30, 2025
- Company confirmed that the disclosure was filed within prescribed timelines with BSE Limited but delayed at NSE
- The Board of Directors has formally noted the lapse and confirmed the payment of the fine to the exchange
STL Networks Limited has approved the allotment of 10,000 senior, secured, non-convertible debentures (NCDs) to raise INR 100 Crores on a private placement basis. The NCDs carry a coupon rate of 10.35% per annum, with interest payments scheduled quarterly starting April 30, 2026. The principal will be redeemed in two equal tranches of 50% each on April 30, 2028, and June 30, 2028. These instruments will be listed on the Wholesale Debt Market segment of the BSE.
- Total fundraise of INR 100 Crores through 10,000 NCDs of face value INR 1 Lakh each
- Fixed coupon rate of 10.35% per annum payable on a quarterly basis
- Staggered redemption with 50% principal due in April 2028 and 50% in June 2028
- Senior secured status with a first ranking pari passu charge on specific company assets
- Default interest provision of 2% per annum over the applicable interest rate for payment delays
STL Networks Limited has successfully completed the allotment of 10,000 secured, non-convertible debentures (NCDs) to raise ₹100 crores through a private placement. The NCDs carry a relatively high coupon rate of 10.35% per annum, with interest payments scheduled quarterly starting April 2026. The principal repayment is structured in two equal tranches maturing in April and June 2028. This capital infusion will likely support the company's operational requirements or expansion plans.
- Allotment of 10,000 listed, rated, secured NCDs with a face value of ₹1,00,000 each
- Total fundraise of ₹100 crores, including a ₹50 crore base issue and ₹50 crore oversubscription
- Fixed coupon rate of 10.35% per annum payable on a quarterly basis
- Principal redemption scheduled for 50% on April 30, 2028, and 50% on June 30, 2028
- Instruments are secured by a first ranking pari passu charge over specific company assets
STL Networks Limited has announced the issuance of the second tranche of secured, redeemable, non-convertible debentures (NCDs) to raise up to ₹150 Crores. This issuance is part of a larger ₹300 Crores fundraising plan previously approved by the company in November 2025. The NCDs will be issued via private placement and are intended to be listed on the BSE. This move reflects the company's ongoing strategy to secure debt capital for its financial requirements.
- Issuance of second tranche of NCDs worth up to ₹150 Crores.
- Part of a total approved fundraising limit of ₹300 Crores through NCDs.
- Securities are secured, redeemable, and will be listed on the BSE.
- The issuance is being conducted through a private placement route.
STL Networks Limited has approved the allotment of 24,879 equity shares of face value ₹2 each following the exercise of options under its Special Purpose Employee Stock Option Scheme 2025. The options were exercised at a price of ₹2 per share, resulting in a total realization of ₹49,758. This allotment is part of a scheme designed to adjust employee options following the demerger from Sterlite Technologies Limited. The total issued share capital of the company has increased to 48,79,45,965 shares, with negligible impact on earnings per share.
- Allotment of 24,879 equity shares of face value ₹2 each upon exercise of ESOPs
- Exercise price set at face value of ₹2 per share, raising a total of ₹49,758
- Total post-allotment issued share capital stands at 48,79,45,965 equity shares
- Scheme formulated to restore value for employees following the demerger from Sterlite Technologies Limited
STL Networks' wholly-owned UK subsidiary, STUKVL, has received an adverse adjudicator's decision in a dispute with All Fiber Solutions Limited (AFSL). The dispute involved unpaid dues for fiber cabling and civil engineering services under a framework agreement. The adjudicator ordered STUKVL to pay £83.5 thousand (INR 1.01 Cr) plus interest of £6.6 thousand (INR 0.08 Cr) and legal expenses. The company has stated that this settlement will have no material impact on its overall financial position.
- Adjudicator ruled against subsidiary STUKVL regarding unpaid dues to All Fiber Solutions Limited
- Total award includes £83.5 thousand (INR 1.01 Cr) plus £6.6 thousand (INR 0.08 Cr) in interest
- Dispute related to design and installation of underground and overhead fiber cabling services
- Company confirms the decision will have no material impact on its financial position
STL Networks Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. For the quarter ended December 31, 2025, the company's Registrar and Share Transfer Agent, KFin Technologies Limited, confirmed that no dematerialization requests were received. This is a standard regulatory filing required by Indian listed companies to ensure share records are maintained correctly. The filing confirms adherence to procedural norms for the specified period.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Registrar KFin Technologies confirmed zero demat requests were received during the quarter.
- The filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- The document was officially signed and submitted to BSE and NSE on January 8, 2026.
STL Networks Limited has approved the grant of 24,67,918 stock options to employees under its 2025 Employee Stock Option Scheme (SNL ESOS 2025). Each option is convertible into one equity share of face value ₹2 at an exercise price of ₹2 per share. The vesting period is scheduled between one and three years from the grant date, with an exercise window of up to five years post-vesting. This move is intended to align employee interests with long-term shareholder value and improve talent retention.
- Grant of 24,67,918 stock options approved by the Nomination and Remuneration Committee.
- Each stock option is convertible into one fully paid-up equity share with a face value of ₹2.
- Exercise price is set at the face value of ₹2 per share, offering a significant incentive to employees.
- Vesting period ranges from a minimum of 1 year to a maximum of 3 years from the grant date.
- Maximum exercise period of 5 years from the date of each vesting.
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