Sterling Tools jumps on foray into EV power electronics with Chinese tie-up

Sterling Tools rose 4.18% to Rs 345.45 after its subsidiary, Sterling Gtake E-Mobility (SGEM), announced entry into EV on-board chargers and DC/DC converters through a technology partnership with China?s Landworld Technology.

Under the agreement, SGEM will locally manufacture on-board chargers, DC/DC converters and multi-function units, which also integrate power distribution systems, at its EV campus in Faridabad. The products are essential for passenger and commercial EVs and the business is expected to generate about Rs 450 crore in revenue by FY30, against a domestic market size projected at Rs 3,000 crore.

The initiative supports India?s Atmanirbhar Bharat and Make in India goals by driving import substitution and providing local access to advanced EV power electronics technology. EV on-board chargers manage AC charging directly from external power sources, while DC/DC converters step down battery voltage for auxiliary systems.

Sterling Tools said the move is part of its broader push to build EV power electronics capabilities and expand its portfolio for India's auto industry.

Anil Aggarwal, chairman, Sterling Tools, said, We are expanding beyond our initial Motor Control Unit & Power Train platforms to meet our customer?s growing demand for advanced technology in the EV sector. EV sub-systems are being increasingly consolidated into multifunction units and Sterling hopes to offer our customers greater choices for stand-alone and multifunction units to cover multiple (vehicle) functions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India.

Sterling Tools manufactures high-tensile cold-forged automotive fasteners, catering to the passenger cars, two-wheelers, commercial vehicles, agri-equipment, and construction equipment segments. Through its subsidiary, Sterling Gtake E-Mobility (SGEM), has also successfully ventured into the sunrise Electric Vehicle (EV) component sector.

On a consolidated basis, net profit of Sterling Tools declined 51.17% to Rs 8.99 crore while net sales declined 31.81% to Rs 192.08 crore in Q1 June 2025 over Q1 June 2024.

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