High-voltage (66-132 kV) and extra-high-voltage (220-400 kV) XLPE underground cables for cities, substations, data centres and plant connections.
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Sterlite Electric (formerly Sterlite Power's products business)Direct supplier · MediumUnlisted
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Sterlite Electric (formerly Sterlite Power's products business)
Unlisted maker of overhead conductors, OPGW and EHV cables, split from the Resonia transmission developer in 2025
Strengths
About 15% share of India's conductor market by value (FY25, company)
Strong in HTLS reconductoring and OPGW
Risks
Unlisted - no public market data
Has filed draft IPO papers; listing timing unclear
Background
The products half of the former Sterlite Power group
Compiled from public reporting — not exchange-listed.
Where it fits
Makes and lays insulated power cables where overhead lines can't go - inside cities, into GIS substations, under airports and into data-centre campuses - and often does the jointing and commissioning too.
Why it matters
Urban load growth and data centres push utilities underground, and EHV cable is one of the hardest products to make (clean-room extrusion, long qualification). Few Indian makers can supply 220 kV and above, so capacity there is valuable.
Where the value pool sits
EHV cable earns better margins than building wire (roughly low-to-mid teens EBITDA for scaled players) but needs heavy capex in vertical extrusion lines. Most listed cable makers' revenue still comes from building wire and LV/MV cable; EHV is a growing slice.
Key drivers
Urban substations and cabled ring mains in metros
Data-centre and industrial grid connections
Renewable plant export lines
Exports to the Middle East and US
Potential bottlenecks
Few vertical continuous-vulcanisation (VCV) lines for 220-400 kV in India