Aksh Optifibre fundamental analysis


(Devaki Nandan Tripathy) #329

Aksh is a very interesting stock to follow.

First, it is one of the few stocks that’s not bound by technical analysis. It regularly breaks both support and resistances and performs counter-intuitively. So, traditional technical entry and exit methods does not work here.

Second, Aksh is highly volatile and the movements occur irrespective of any news or lack thereof. The scrip seems to have a mood of its own.

Third, fundamentally it’s placed in the right sector at the right time with a good tailwind. The only question is whether it is capable to capitalize the cyclical upturn or not.

Disc.: Holding since 12.75 levels and added more recently @ 23.50. Not a buy/sell/hold recommendation. Please do your own diligence.


(Bheeshma Sanghani, PhD) #330

Doesn’t the lack of cash flows bother anyone when looking at the business?

Item Mar-06 Sep-07 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Profit from operations 30.74 22.81 -47.03 -7.62 -17.15 24.96 31 40.89 52.04 62.81 50.6 69.26
Working Capital Changes -5.5 -7.54 6.34 29 -102.8 30.33 -42.4 -26.23 -39.63 -27.21 10.57 -60.04
Taxes paid -1.35 1.88 -0.63 -0.04 -0.01 1.46 0.65 -1.5 -5.32 -6.17 -5.69 -6.11
Interest -3.12 -10.93 -9.65 -2.39 -2.46 -5.35 -3.73 -7.06 -7.06 -10.4 -13.42 -18.75
Depreciation 5.62 10.89 20.86 11.36 9.19 13.3 16.63 14.99 16.31 18.72 19.55 21.19
FCF for shareholders 15.15 -4.67 -71.83 7.59 -131.61 38.1 -31.11 -8.89 -16.28 0.31 22.51 -36.83
3 yr cumulative rolling FCF for shareholders . . -61.35 -68.91 -195.85 -85.92 -124.62 -1.9 -56.28 -24.86 6.54 -14.01

(Akash Padhiyar) #331

As capex is over FCF will improve with increasing profits… e-governance business is also at break even…whole opthalmic lense story is still to play out which is a very high margin business with less competition in india…


(S_Banerjee) #332

Import duty hike on Temecom equipment, how this can affect on Aksh opti. Any view?