Sterling Tools Limited (BSE: 530759, NSE: STERTOOLS), a leading manufacturer of automotive fasteners, has entered the energy sector through its wholly-owned subsidiary, Sterling Tech-Mobility Limited. The company has announced a strategic partnership with China’s Zhejiang Meishuo Electric Technology Co. Ltd., to locally manufacture latching relays for power transmission, industrial grids, and consumer appliances in India.
The partnership will see an initial investment of ₹20 crore to set up a manufacturing facility in Bengaluru, aligning with India’s Make in India and Atmanirbhar Bharat initiatives. These latching relays are key components in smart metering systems and white goods, allowing remote power management while significantly reducing energy consumption.
Latching relays use a latch mechanism to conserve energy, consuming power only during state changes, helping enhance efficiency and durability in industrial and consumer applications.
Sterling Tools projects the collaboration will generate ₹200 crore in revenue by FY30. By manufacturing these components domestically, the company aims to reduce reliance on imports, creating a self-reliant supply chain for the Indian industrial and consumer goods market.
“This partnership marks our foray into the energy sector, expanding our horizons beyond automotive. By localising advanced technology, we aim to meet India’s growing demand for energy-efficient solutions,” said Anish Agarwal, Director, Sterling Tools Limited.
Sterling Tools has diversified into emerging sectors such as electric vehicle (EV) components and high-voltage systems, bolstering its position as a key player in India’s evolving industrial landscape.