Sterlite Tech appoints Tushar Shroff as CFO

Sterlite Technologies announced that its board has approved the appointment of Tushar Shroff, as the chief financial officer (CFO) and key managerial personnel of the company with effect from 6 December 2022.

Tushar Shroff is a qualified chartered accountant and cost accountant with an experience of more than 28 years in the field of fundraising, capital structuring, mergers & acquisitions, treasury management, taxation, financial accounting and planning, investor relations and business partnering.

Prior to joining Sterlite Technologies, Shroff has worked for global and Indian multinational organisations like ABB, ELSTER Metering, Piramal Healthcare, SCHOTT Glass, Zydus Cadila, and Intas Pharmaceuticals.

The company said that during the course of his career, he has managed multi-billion dollar organisations and has been instrumental in building high-networth organisations through various initiatives. In his last assignment, he has served as the Group CFO for Intas Pharmaceuticals, one of the leading Pharmaceutical companies in India.

Commenting on the appointment, Ankit Agarwal, managing director of Sterlite Technologies, said, "I believe that his rich experience and expertise in capital structuring, treasury management, M&A, strategy and investor relations will enable our growth ambitions and deliver enhanced value for our customers and shareholders.

Sterlite Technologies is a leading end-to-end solutions provider for global digital networks.

On a consolidated basis, the company net profit slumped 58.1% to Rs 44 crore in Q2 FY23 from Rs 105 crore recorded in Q2 FY22. Revenue from operations jumped 17.2% year on year to Rs 1,768 crore in Q2 FY23.

Shares of Sterlite Technologies were down 0.09% to Rs 176.15 on the BSE.

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