Aksh Optifibre Limited Announces its Q4 and Cumulative FY 2014-15 Results; Set to Follow an Aggressive Growth Trajectory

NEW DELHI, June 1, 2015 /PRNewswire/ --

Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], the New Delhi based leading manufacturer of optical fibre, optical fibre cables and FRP rods, has announced its results for Q4 and FY 2014-15. The company's net profits before exceptional items and tax increased 67% to Rs.31.67 crores for the period under review.

The board has approved an expansion plan that will see capacity expansion of over 80% in its OFC business at its manufacturing plant in Reengus, Rajasthan. The FRP business is also set for expansion of 75% through its wholly-owned subsidiary AOL FZE, Dubai. The company will be investing over Rs. 95 crores for the expansion and setting up of additional manufacturing lines across the two facilities. The expansion is proposed to be funded out of debt and internal accruals.

The Board has also taken note for the need to invest heavily in the existing human capital of the company across its locations and has approved the hiring of fresh talent across all levels to scale up operations. The Board feels that to maintain its leadership position as FRP & OFC manufacturer, such investments are required for meeting the demands of the next wave of requirements for telecom gear, not just in India but globally as well. Aksh Optifibre is the largest manufacturer of an essential component of OFC manufacturing; FRP Rods, which it manufactures out of its Reengus and Dubai manufacturing plants and dominates the market globally.

Mr. Satyendra Gupta, Chief Financial Officer of Aksh Optifibre Limited, commenting on the occasion, said, "The company has performed exceptionally well over the last fiscal year with strong growth cues across our manufacturing and services divisions. With a strong advance order book and a sharp focus on expansion across its manufacturing and services verticals, the company is all set to stride forward towards consolidating its current position and plan for the future. With strong investment commitments from the Central government for the 'Digital India' programme with upwards of Rs. 70,000 crores to be invested towards the campaign, the domestic OFC market is upbeat over these developments. We are extremely happy to be associated with both the Central government and various State governments for end-to-end rollout of OFC networks in the country."

The company's e-governance arm, 1 Stop Aksh, has also performed exceptionally well over the last fiscal with major leaps being taken in Rajasthan, where it is engaged in a Public-Private Partnership (PPP) model with the government of Rajasthan for delivering over 200 Government-to-Citizen (G2C) and Business-to-Citizen (B2C) services through its kiosks spread across the state. 1 Stop Aksh has a plan to setup over 10,000 e-governance kiosks in the state by the end of 2016. With the introduction of micro ATM facilities through a strategic tie up with State Bank of India (SBI), 1 Stop Aksh kiosks are now fully equipped to carry out transactions in the rural parts of Rajasthan, which is being considered as a concrete step towards realizing the Pradhan Mantri Jan DhanYojana; which aims at providing each citizen of the country with a bank account and achieve financial inclusion and independence.

Some key performance highlights from Aksh Optifibre:

Financial Highlights: 

• The revenue of the company on standalone basis increased by 63% per cent to Rs.373.92 crores from Rs.228.82 crores during the year under review
• The revenue for Q4, FY 14-15 stood at Rs.109.75 crores, with an increase of 99% with respect to the same period last year.
• EBITDA figures for Q4 FY 14-15 stands at Rs.16.71 crores. The standalone EBITDA for FY 14-15 stands at Rs.58.24 crores with an improvement of 42% on a Year-on-Year basis.
• For the full year ended March 31, the standalone PBT increased by 26% to Rs. 32.82 crores from Rs.26.02 crores at the end of March 2014.

Business Highlights: 

• Commissioning of manufacturing facility for FRP rods at its newly constructed state-of-the-art facility in Jafza, Dubai in AOL FZE, a wholly-owned subsidiary of Aksh Optifibre Limited.
• 1 Stop Aksh emerges as one of the fastest growing PPP model e-governance service provider in the country with one of the largest kiosk holder base having about 4,000 kisok holders as of 31^st March, 2015.
• 1 Stop Aksh launches micro ATM facilities in Rajasthan with a strategic tie-up with State bank of India (SBI).
• Emerged as the lowest bidder for Package F of the Defence Network for Spectrum (NFS) project being implemented by BSNL. Bags an order of over Rs.102 crores for supply of optical fibre cables for the project with state-run telco ITI.
• Leads the way in CSR and environmental efforts as well. Concludes the plantation of over 13,000 saplings across Bhiwadi, Rajasthan, its main manufacturing hub in India and also adopted two primary schools in Rajasthan where a complete infrastructure overhaul was conducted by the company as part of its growing CSR initiative.

Financial Summary FY 2014-15 

   
    Standalone Financials Currency Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
                                          31-Mar       31-Dec         31-Mar     31-Mar     31-Mar
                                        Q4 FY 15       Q3 FY15        Q4FY14       FY15       FY14
    Revenues               INR Cr         109.75         101.6         55.14     373.92     228.82
                           USD Mn          17.56         16.25          8.82      59.82      36.61
    EBITDA                 INR Cr          16.71         16.56          9.66      58.24         41
                           USD Mn           2.67          2.65          1.55       9.32       6.56
    PBT before
    exceptional items and
    tax                    INR Cr           8.62          9.92          4.68      31.67      18.95
                           USD Mn           1.38          1.59          0.75       5.07       3.03

    PAT                    INR Cr           8.94         10.04         11.94      32.10      26.01
                           USD Mn           1.43          1.60          1.91       5.13       4.16

USD to INR conversion at Rs.62.51

About Aksh Optifibre Limited

Aksh Optifibre Limited is a 28-year-old company which started with the manufacturing of optical fibre and optical fibre cables (OFC). 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 and services are embedded in our diversified portfolio. Our products include optical fibres, optical fibre cables, cable reinforcement solutions while we also deliver some of the exemplary services that include iControl (IPTV), Pigeon (VoIP) and Fibre to the Home.

Aksh was founded in 1986 with major focus on manufacturing of Optical Fibre Cables. The portfolio later got reinforced with the addition of Optical Fibers & Fiber Reinforced Plastic Rods. The company’s products form the core of intranet, internet and other communication network all around the world. Manufacturing being the core business, Aksh has remained well aligned with the latest market trends and started commissioning of detailed distribution networks, Fiber To Home & Turnkey projects for data communication.

Aksh has been innovative with its cable designs and manufactures a wide array of Optical Fiber Cables that include Single Mode & Multimode Cables, Duct Cables, Armoured, FTTH (Aerial installations & fibre to home) Cables, Indoor & Outdoor Cables and Special application cables (Hybrid, All purpose, Ceramic Armoured cables).

For more information, visit http://www.akshoptifibre.com/

Media Contact:
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