Aksh Optifibre Reports Second Quarter Results: On track expansion and diversification -
strategic acquisitions - healthy order book with diversified customer
base - increased investor confidence
Aksh Optifibre Limited [BSE:
532351 | NSE: AKSHOPTFBR], the leading Indian manufacturer of
Optical Fibre, Optical Fibre Cables, Fibre Reinforced Composites and a
major e-Governance service provider announced its Q2 FY17 results.
Revenue recorded at Rs. 90.41 Crore, EBIDTA at Rs. 10.68 Crore. Export Sales for the quarter at Rs. 50.96 Crore.
The company would like to thank all its shareholders for reposing faith
in AKSH values and business competencies which has led to 25% increase
in shareholder base.
The upgradation and expansion plans announced by the company
earlier this year is on track. Upgradation in Optical Fibre (OF) and
Optical Fibre Cables (OFC) has been completed while expansion in OF and
Fibre Reinforced Plastic (FRP) is progressing for
timely completion by March 2017.
To maintain leadership in FRP Rods and catering its strategic customers,
Company has acquired 100% share capital of “Unitape Mandovi
Composites Pvt. Ltd”, Silvassa (renamed as Aksh Composites Pvt. Ltd).
Diversification planned by the company for ambitious ophthalmic lens
project is showcasing promising execution. Land has already been
acquired followed by facility construction and ordering of machinery.
Consequent to the planned expansion across all the
manufacturing facilities of the company, the total revenue was
recorded at Rs. 90.41 Crore.
The undergoing upgradation and expansion has enabled the company to enter into second half with a healthy order book.
With a view to mitigate demographic risks, the Company is focused to
explore new geographies with strategic long term alliances across the
world. Company’s export turnover in H1 FY 16-17 was 63% higher than H1
“1 Stop Aksh” the E-Governance arm of the company has touched the silver
lining with kiosks exceeding 10,000 ahead of schedule. The company
has registered more than 18,000 students for
certification under “National Digital Literacy Mission” in more than 18
districts of Rajasthan.
OFC Installed throughout the world in H1 2016 was 210 million fibre-km
as compared to 189 million fibre-km installed in H1 2015, registering a
growth of 12%. The OFC market is expected to reach $12 billion by
2020. India is presently witnessing a huge upsurge in the use of
consumer mobile services coupled with increased use of data services has
fueled demand for 4G/LTE technology resulting sizable opportunities for
Cable manufacturers in India. As per leading industry reports, India
will have more than 670 million 3G/4G subscribers by the year 2020 which
is about 48% of the total projected subscriber base. India also
overtook the US in 2016 to become the world’s second-largest smartphone
market with an installed base of 275 million devices. India and ASEAN,
will be key contributors to optical fibre cable demand.
Mr. Satyendra Gupta - Deputy Managing Director, reaffirmed that the
expansion and diversification plans the company had undertaken at the
beginning of the year are on-track and significant progress is being
made to achieve the defined goals. Although planned upgradation and
expansion has led to anticipated dip in the turnover during the quarter,
however it has paved the path for bright and sustainable future. To be
in line with the vision of the Company to have a global footprint, the
Company has joined the elite league of fistful Companies across the
globe who export OFC to China and see tremendous potential in the
overall Chinese market. Under E-Governance initiative booking of 10,000
Kiosks is a remarkable achievement.
As it’s initiatives under CSR activities, the Company has
introduced smart classes in government schools and commenced
distribution of LED lights. The company has recently adopted a park
in Bhiwadi for the benefit of the local community.
About Aksh Optifibre Limited
AKSH OPTIFIBRE LIMITED is an over 30 year old organization which started
with the manufacturing of Optical Fibre (OF) and Optical Fibre Cables
(OFC) in 1994. In 1996-97 Aksh acquired Fibre Reinforced Plastic Rods
(FRP) business which is a key raw material for Optical Fibre Cables.
AKSH went Public in the year 2000 and is listed on National Stock
Exchange (NSE) and Bombay Stock Exchange (BSE).
AKSH OPTIFIBRE LIMITED is one of the leading providers of transmission
solutions for the telecom industries globally. Various products &
services are embedded in our diversified portfolio. We also
deliver to some of the most recognized e-governance services through our
flagship programme 1 STOP AKSH.