Mon, Mar 27, 2017 | updated 04:21 AM IST

Aksh Optifibre reports second quarter results

Updated: Nov 12, 2016 13:42 IST

New Delhi [India], Nov.12 (ANI-Businesswire India): Aksh Optifibre Limited, 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 FY 15-16.

"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. (ANI-Businesswire India)

New Delhi [India], Mar 25 (ANI): The wildlife conservation worker, like most of their subjects, is an elusive person. To celebrate the outstanding contribution of these simple, hardworking, humble yet extraordinary people, ZEISS group acknowledged these talented individuals in wildlife conservation through their annual ZEISS Wildlife Conservation Awards and this year on March 24th, 2017 at Indian Habitat Centre, New Delhi.

Full Story >>

New Delhi [India], Mar 25 (ANI): Vestas Wind Systems, the world's leading wind power solutions provider, today inaugurated a state-of-the-art wind turbine blade manufacturing unit in Gujrat.

Full Story >>

New Delhi [India], Mar 25 (ANI): In yet another fun filled afternoon for fashion and sports enthusiasts, India's leading fashion e-tailer, Jabong, hosted a launch event with the legendary Indian Cricket all-rounder Yuvraj Singh unveiling his sports lifestyle brand YWC on the portal.

Full Story >>

New Delhi [India], Mar 25 (ANI): To bridge the huge infrastructure gap, India will need much more participation from the private sector and for these conventional modes of healthcare funding will need to be aided by innovative modes funding to improve healthcare investments in India, reveals a NATHEALTH-PwC Report which was released here today at NATEv2017, an annual seminar organized by the Healthcare Federation of India (NATHEALTH).

Full Story >>

New Delhi [India], Mar 25 (ANI): Oxigen Services, India's largest payment solutions provider, today signed a Memorandum of Understanding with the Department of Tourism, Arunachal Pradesh for becoming the preferred partner for providing digital payment solution to the residents and tourists visiting the state.

Full Story >>

New Delhi [India], Mar 25 (ANI): Union Finance Minister Arun Jaitley on Saturday approved the re-organization of the field formations of the Central Board of Excise and Customs (CBEC) for the implementation of Goods and Services Tax (GST).

Full Story >>

New Delhi [India], Mar 25 (ANI): India and World Bank on Saturday signed a financing agreement for IDA credit of USD 100 (equivalent) for the "Uttarakhand Health Systems Development Project".

Full Story >>

New Delhi [India], Mar 25 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. (SAM & Co) acted as the legal advisor to Coal India Limited and its subsidiaries, in the matter involving imposition of a fine on CCI of INR 1773. The Competition Appellate Tribunal (COMPAT) had set aside the order of the CCI imposing a fine on CIL, as well as two related orders and has remitted the matters back to the CCI for fresh consideration.

Full Story >>

New Delhi [India], Mar. 25 (ANI): The Securities and Exchange Board of India (SEBI) has barred 13 companies, including RIL, from dealing in equity derivatives in the Futures and Options (F&O) segment of stock exchanges, directly or indirectly, for a period of one year.

Full Story >>

New Delhi [India], Mar. 25 (ANI): Arundhati Bhattacharya, Chairman, State Bank of India (SBI) has been ranked 26th in the fourth edition of Fortune's 'World 50 Greatest Leaders' list.

Full Story >>

Kantar Millward Brown Media Conclave 2017

Updated: Mar 24, 2017 18:27 IST

New Delhi [India], Mar 24 (ANI-BusinessWireIndia): WPP -Kantar's brand, communications and media research unit Kantar Millward Brown conducted its annual Media Conclave 2017 in Mumbai. This year's Media Conclave focused on the impact of various media Ad Formats on campaign performances. The conclave played host to some of the country's top most Marketing, Media and Media Insights leads.

Full Story >>

New Delhi [India], Mar 24 (ANI): International Monetary Fund (IMF) which has 189 countries as member for Global Monetery co-operation in its conference called the Indian Government to share the success story of Demonetisation.

Full Story >>

New Delhi [India], Mar 24 (ANI-NewsVoir): It has been 24 hours since Layla last had cocaine. Now on a flight to New Delhi with her children, all she can focus on is how quickly she can hook up with her friend and drug baron Leonardo so he can provide her with her next fix unaware of the intergenerational damage her choices will cause.

Full Story >>

New Delhi [India], Mar 24 (ANI): With the immense success of the first edition of India Expo Shop Summit, The Indian Exhibitions, Conferences and Events Services Association (IESA), an apex organization working towards the development of the exhibitions, conferences and events services sector in India, in collaboration with key industry bodies, government organizations including Department of Commerce, Ministry of Commerce and Industry, Government of India, Confederation of Indian Industry (CII), and Services Export Promotion Council (SEPC), is organizing the second edition of the India Expo Summit 2017 (IES 2017) at India Expo Centre and Mart, in Greater Noida, Uttar Pradesh on 17th April 2017.

Full Story >>

New Delhi [India], Mar 24 (ANI): Online connecting portal for women looking to restart their careers JobsForHer marks the end of its successful two years and the beginning of its buoyant third year operations this month.

Full Story >>

New Delhi [India], Mar 24 (ANI): In ICRA's view, the demand for fertilizers in H1 FY2018 will witness moderate growth, given the lower base for H1 FY2017 and improved spending power of the farmer community with higher MSPs for rabi crops and strong sowing witnessed during the season.

Full Story >>

New Delhi [India], Mar 24 (ANI-NewsVoir): Marking its presence in Gujarat, All India Rubber Industries Association (AIRIA), the august body of Rs. 85,000 crore rubber industries in India has opened its Gujarat chapter in Ahmedabad. As representative body of over 5,000 rubber products manufacturers in the country (largely MSMEs), AIRIA already has offices in Mumbai, Delhi, Chennai and Kolkata with a chapter office in Pune.

Full Story >>

Will make Goa beggar-free state: Parrikar

Updated: Mar 24, 2017 15:23 IST

New Delhi [India], Mar 24 (ANI): Chief Minister Manohar Parrikar on Friday emphasized on making Goa the first ever beggar-free state.

Full Story >>

New Delhi [India], Mar 24 (ANI): With the announcement of Rs. 978.84 crore for the social sector, Chief Minister Manohar Parrikar on Friday said that Goa will be made a garbage free state by 2020.

Full Story >>

New Delhi [India], Mar 24 (ANI-BusinessWireIndia): Tata Capital, the financial services arm of the Tata Group, today, announced the launch of 'myLoan' - a first-of-its kind Mobile App by the company to extend its existing personal loan offering to the emerging younger and mobile savvy audience.

Full Story >>