Sterlite to double manufacturing revenue to Rs 12,000-crore in 2 years
Sterlite Power, a subsidiary of Vedanta Group, plans to invest $1-2 billion in its transmission business every year, and another $100 million in manufacturing, as part of plan to double revenue from this segment to Rs 12,000 crore, Pratik Agarwal, Managing Director, Sterlite Power told Arunima Bharadwaj in an interview. The group also plans to expand its renewable energy capacity by adding 2 giga watt (GW) annually, starting FY26, Agarwal, which is on the board of group firm Serentica Renewables, said. With no overseas expansion plans right now, Agarwal sees India as a viable market for low-cost manufacturing for advanced products.
Serentica (RE) and the transmission are both capital-intensive, and in both these businesses, they expect to invest $1-2 billion every year for new asset creation. Manufacturing business is less capital-intensive, and there they plan to spend about $100 million in capex over the next few years. They aim to double revenues from Sterlite Power’s manufacturing business to Rs 12,000-13,000 crore in the next two years.
