Sterlite Technologies Limited formerly known as Sterlite Optical Technologies is primarily engaged in the business of telecom products and solutions which mainly include integrated optical fiber other telecom products such as fiber optical cables copper telecom cables structured data cables and access equipments fiber connectivity and system integration solution offerings for telecom networks OSS/ BSS solutions billing &bandwidth management solutions to organizations and other service design engineering implementation and maintenance of Optical Fiber Cable (OFC) Network.Sterlite Optical Technologies Ltd was incorporated on 24 March 2000 under the name of Sterlite Telecom Systems Ltd. It was formed after the demerger of the telecom business from Sterlite Industries (India) with effect from July 1 2000 to enable sharper focus on each of the businesses. On 21 August 2000 the Company's name was changed from Sterlite Telecom Systems Ltd to Sterlite Optical Technologies Ltd. The company has its manufacturing facilities at Aurangabad and Pune in Maharashtra Silvassa in Dadra & Nagar Haveli and Haridwar in Uttarakhand.In the year 2004-05 Sterlite Telecables Ltd a wholly owned subsidiary company merged with another wholly owned subsidiary company called Sterlite Telelink Ltd. Also in the same year the company has launched their three new products which are especially designed for Access and Premise Network. In the year 2005-06 the company has launched six new products for Access Premise & Fibre-to-the-Home applications.In the year 2005-2006 the company has increased the installed capacity for Fiber Optic Cables by 1400000 FKM to 2400000 FKM. Also in the same year they stared a new project of producing Broadband Access Network. On July 2006 the company acquired the Power Transmission Line division from Sterlite Industries (India) Ltd for a consideration of Rs.1485 million. In the same year the company's two wholly owned subsidiaries namely Sterlite Telecom Ltd and Sterlite Telelink Ltd had merged with the Parent Company.In the year 2006-2007 the company has increased the installed capacity for Copper Telecom Cables by 2000000 CKM to 9500000 CKM for Fiber Optic Cables by 822528 FKM to 3222528 FKM and for Broadband Access Networks they increase the numbers by 120000 to 720000. Also the company has introduced two new products namely Sterlite DOF-LITE TM ITU-TG.655 D and E range optical products for access networks and Sterlite ADSL 2+ wireless and wireline modems for broadband applications.Deloitte has nominated Sterlite Optical Technologies as the 6th Fastest Growing Technologies Company in India and 73rd Fastest Growing Technology Company in Asia-Pacific in 2006. The company was also among the winners of Deloitte Technology Fast 50 India & Fast 500 Asia Pacific awards for 2005.In the year 2007 the company acquired 58.70% holding in Sterlite Infrastructure Private Ltd and thus it becomes a subsidiary of the Sterlite Optical Technologies Ltd. On July 2007 the company got its present name Sterlite Technologies Ltd. The company has decided to expand the manufacturing capacity of optical fiber at Aurangabad in Maharashtra to 12 million Km from 6 million Km.During FY14 Jiangsu Sterlite Tongguang Fiber Co. Ltd. (JSTFCL) the company joint venture with Tongguang Group of China commenced commercial production and achieved 90% capacity utilization. JSTFCL was formed to set up an Optical Fiber Manufacturing Facility in China. During FY14 the company's subsidiary Sterlite Display Technologies Private Limited (SDTPL) acquired two mega power transmission projects to establish the Transmission System for Eastern Region System Strengthening Scheme-VII and Part ATS of RAPP U-7&8 in Rajasthan. During the year 2014 the company raised Rs. 250 Crores as long term debt by issuing Secured Rated Listed Redeemable Non-Convertible Debentures (NCDs). The Debentures are listed on the debt segment of Bombay Stock Exchange as per the SEBI Guidelines and Debt Listing Agreement.On 18 May 2015 the Board of Directors of Sterlite Technologies in their Board Meeting held on that day approved a Corporate Restructuring plan. The Board approved to demerge the Power Products Business and Power Transmission Grid Business into a separate entity named Sterlite Power Transmission Ltd. (SPTL). In addition Sterlite Technologies approved the shifting of its registered office from Survey No. 68/1 Rakholi Village Madhuban Dam Road 396 230 Union Territory of Dadra & Nagar Haveli India to E-1 Waluj MIDC Industrial Area Aurangabad-431 136 Maharashtra India with effect from 18 May 2015. During FY 2015 Standard Chartered Financial Holdings (SCFH) private equity arm of Standard Chartered Bank agreed to invest total Rs. 500 Crores in Sterlite's (Company's) power grid business. SCFH had already invested Rs. 450 Crores in the FY 15 by way of subscription to convertible securities and remaining Rs. 50 Crores will be invested in FY 16. The company decided to pursue this investment for deleveraging its balance sheet as well as opening up its infrastructure investments to reputed international investor for future value creation.During the Financial Year 15-16 the Company shifted its registered office from Survey No. 68/1 Rakholi Village Madhuban Dam Road 396 230 Union Territory of Dadra & Nagar Haveli India to E-1 MIDC Industrial Area Waluj Aurangabad 431 136 Maharashtra India.The Hon'ble High Court of Judicature at Bombay had on April 22 2016 approved the Scheme of Arrangement for demerger of the Power Products and Transmission Grid Business of the Company into Sterlite Power Transmission Limited (SPTL) effective from 23 May 2016. This Scheme was approved by the Shareholders Secured Creditors and Unsecured Creditors of the Company at the Court Convened Meetings held on 15 December 2015. Upon the effective implementation of the Scheme the Company will continue to be a publicly listed company and focus on the growth opportunities in the telecom sector and shareholders of the Company towards consideration of the demerger will be issued equity shares or redeemable preference shares of SPTL in the manner detailed below: (i) Resident Indian shareholders of the Company on the record date can choose from options as per their investment objectives. They may opt to: (a) receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of Rs. 2 each in the Company that they hold; or (b) receive 1 (one) fully paid-up Redeemable Preference Share of Rs. 2 each at a premium of Rs. 110.30 per redeemable preference share in SPTL for every 5 (five) equity shares of Rs. 2 each of the Company that they hold with an option of seeking voluntary exit as per the Scheme. (ii) Non-resident shareholders (excluding Foreign Institutional Investors (FIIs)) of the Company on the record date would be entitled to receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of Rs. 2 each in the Company that they hold. All such equity shares that are issued and allotted to non-resident shareholders of the Company (excluding FIIs) subject to applicable law will be immediately purchased by the promoters of the Company and/or their affiliates or any other person and/or entity nominated by them as per the Scheme. (iii) FII shareholders of the Company on the record date subject to receipt of approval from the appropriate regulatory authorities can choose from options as per their investment objectives. They may opt to: (a) receive 1 (one) Redeemable Preference Share in SPTL for every 5 (five) equity shares of the Company that they hold; or (b) receive 1 (one) equity share in SPTL for every 5 (five) equity shares with face value of Rs. 2 each in Sterlite Technologies Limited that they hold which will be purchased by the promoters of the Company and/or their affiliates or any other person and/or any other person and/or entity nominated by them as per the Scheme.Sterlite Technologies acquired 100% stake in Elitecore Technologies Private Limited on 29 September 2015 followed by merger of Elitecore with the Company effective from 20 May 2016. The merger was approved by the Hon'ble High Court of Judicature at Gujarat and the Hon'ble High Court of Judicature at Bombay on 21 March 2016 and 7 April 2016 respectively. The appointed date for the said merger was 29 September 2015.In FY16 Sterlite Tech established strategic collaborations with Aston University UK and DTU-Photonics Denmark in the area of application of fibres in energy efficient and advanced high capacity transmission technologies. With Aston University research projects are focused on reliability performance of Bend Insensitive Fibres Raman amplification phase conjugated nonlinearity compensation in Co-OFDM transmission up to 2400 km. During FY16 Sterlite Conduspar Industrial Ltda Brazil was the first cable manufacturer to install a 96F micro cable in Telefonica Brazil CEMIG on a trial basis. It participated in the leading group that created the Brazilian standard for micro cables and got it approved and implemented by Anatel (Regulatory Telecommunication Agency in Brazil). Sterlite Technologies holds 58.05% interest in Sterlite Conduspar Industrial Ltda Brazil a jointly controlled entity which is involved in manufacturing of Optic Fibre Cable.During FY2016 Sterlite Tech partnered with I'M Here Tracking Solutions LLP which developed an online vehicle tracking solution based on GPS and GPRS to find the real-time location of dispatch vehicles. This solution has helped Sterlite Tech's customers in telecom and power businesses keep tab on the fleet plug pilferage reduce thefts and ensure arrival at the destination on time. The information has been made available by using a combination of Global Positioning System mobile phone network Internet digital mapping and specialized tracking software.After implementation of Global Positioning system (GPS) tracking software Sterlite has done movement of 1000+ vehicles since May 2015 from their Optical Fibre manufacturing facility at Aurangabad and Optical Fibre Cable & Copper Cable manufacturing facility located at Silvassa India. In the Board Meeting held on 27 October 2016 the Board of Directors of Sterlite Technologies approved a Scheme of demerger of the Passive Infrastructure Business of Speedon Network Limited (SNL) a wholly owned subsidiary of the company. The Appointed Date for the Scheme is 1 October 2016 and the process is expected to be completed by Q2 FY18. The proposed Corporate Restructuring is subject to approval by various stakeholders the National Company Law Tribunal and other relevant regulatory authorities.