About Sterling Tools Limited

Sterling Tools Limited (STL), incorporated in 1979, is one of India’s leading manufacturers of automotive fasteners, supplying high-tensile cold-forged fasteners to major OEMs across passenger, commercial, two-wheeler and specialty vehicle segments. The Company operates four fastener manufacturing plants, a dedicated Motor Control Unit (MCU) facility, and two technology centres driving design, innovation and R&D. STL’s product portfolio includes axle, engine, standard, wheel, banjo and sealant bolts, together with special fasteners. Through its subsidiaries, it also offers EV powertrain and electronic components such as MCUs for 2W, 3W, LCV, MCV and HCV segments, rare-earth-magnet-free motors, DC-DC converters and on-board chargers.

STL operates across 26 Indian states and maintains business linkages in 13 countries. Its manufacturing footprint consists of four plants and two offices within India, and exports contributed 1.70% of total standalone turnover during FY 2024–25. The Company serves prominent Indian OEMs in passenger vehicles, commercial vehicles, two-wheelers, tractors and off-highway equipment, with growing demand from overseas markets including the US, Europe and the Middle East. As on March 31, 2025, Sterling Tools Limited had five wholly owned subsidiaries. STL continues to expand its technological portfolio through successive product advances and partnerships in the electric vehicle domain, complementing its leadership in fasteners manufacturing.

Key Milestones of Sterling Tools Limited

• 1979 – Incorporated as a manufacturer of high-tensile automotive fasteners.
• Expansion into advanced categories including banjo, sealant and wheel bolts catering to diversified automotive OEM requirements.
• Development of EV powertrain and power electronics components portfolio through its subsidiaries.
• 2024 – Formation of an overseas wholly owned subsidiary in Singapore on September 23, 2024.
• Initiation and expansion of manufacturing capacity for EV MCUs, with annual capacity rising to 7,20,000 units.
• Progress of amalgamation process for Haryana Ispat Private Limited into STL following NCLT orders in April 2024.

Sterling Tools Limited Business Segment and Geographic Presence 

Business Segment (Standalone FY 2024–25):

• Manufacture of High-Tensile Fasteners – 98.95% of total turnover.

Geographical Split (Standalone FY 2024–25):

• Exports – 1.70% of total turnover.
• Domestic – Balance of turnover.

The Company’s legacy business continues to dominate the automotive fasteners market, while its subsidiaries drive diversification into emerging EV powertrain, energy electronics and magnet-free traction motor technologies. STL maintains operations across 26 states in India and global linkages extending to 13 countries.

The Company’s primary business is the manufacture of high-tensile cold-forged automotive fasteners, serving top-tier OEMs in India and overseas. STL’s evolving EV segment portfolio includes manufacturing of MCUs, rare-earth-magnet-free traction motors, high-voltage DC contactors, relays, DC–DC converters and on-board chargers. With its advanced R&D and technology centres, the Company integrates precision engineering and electronics manufacturing to expand beyond conventional fastening solutions into the automotive electrification ecosystem. Standalone operations contribute 98.95% of turnover through fasteners, supported by emerging contributions from EV-associated businesses under its subsidiaries.

Sterling Tools Limited Key Management

• Anil Aggarwal – Chairman & Whole Time Director
• Atul Aggarwal – Managing Director
• Akhill Aggarwal – Whole Time Director
• Pankaj Gupta – Chief Financial Officer
• (Post year-end) Komal Malik – Company Secretary & Compliance Officer (appointed August 7, 2025)

Latest Updates on Sterling Tools Limited

• Strategic partnerships and technology expansion: Entered a licensing agreement with Advanced Electric Machines, UK, to develop and manufacture rare-earth-magnet-free traction motors; signed an MoU with MOTIVELINK Co., Ltd., South Korea, to manufacture magnetic components for India’s EV and hybrid EV market; partnered via subsidiary with GLVAC YT, China, to manufacture high-voltage DC contactors and relays, with a new HVDC contactor facility under commissioning in Bengaluru.
• Capacity expansion: Completed a major capacity expansion at its EV subsidiary campus, increasing annual MCU production to 7,20,000 units, supporting diversified product introductions.
• New products and business wins: Initiated on-board charger (OBC) and DC/DC converter production lines and secured a first business nomination from a major electric commercial vehicle OEM.
• Corporate structure and operations: Established a new wholly owned subsidiary in Singapore on September 23, 2024; added two wholly owned subsidiaries during the year. The Company also relocated its Registered Office within New Delhi effective August 13, 2024. Scheme of Amalgamation for Haryana Ispat Private Limited with STL advanced with April 2024 NCLT orders and second motion filing on April 29, 2024.
• Credit ratings and governance: ICRA reaffirmed STL ratings with a revised outlook from Stable to Positive on November 19, 2024. The Company maintained full corporate governance compliance, with only short-term board composition gaps rectified within the year.
• Certifications and compliance: All manufacturing plants are certified to IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 17025 and ISO 27001:2022 standards. There were no insolvency proceedings under IBC as of March 31, 2025.