Sterling Tools Limited — Updates, 14-05-2025: Press Release (Revised)

Sterling Tools has announced a board meeting to discuss the financial results for the quarter and half-year. Its subsidiary, Sterling Gtake, signed a Technology Licensing Agreement with UK’s Advanced Electric Machines to produce Rare Earth Magnet-Free traction motors for EVs in India. This step reduces reliance on China for permanent magnets and aligns with import substitution goals. SGEM aims to develop integrated motor and controller solutions, targeting a Rs 15,000 Cr traction motor market by 2030, enhancing Sterling’s position in the EV powertrain space.