Aksh Optifibre has achieved turnover of Rs 155 crore (+20 percent), EBITDA of Rs 18.4 crore (+51 percent) with EBITDA margins of 12 percent and profit of Rs 6.5 crore in the third quarter of fiscal 2018.
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The technology company has expanded the capacity of optical fibre and optical fibre cable at its manufacturing facilities in its Bhiwadi in Rajasthan, India. Aksh Optifibre did not reveal the investment for expanding the current manufacturing capacity. The company is also mobilsing funds for expansion.
The optical fibre manufacturing capacity of Aksh Optifibre has reached 3 million FKM per year from 1.5 million FKM per annum.
Aksh Optifibre’s OFC manufacturing capacity now stands at 9 mn FKM per annum from 4.5 million FKM per annum earlier.
AOL FRP Division, the manufacturing arm of AOL FZE in Dubai, has also expanded its Fibre Reinforced Plastic Rod (FRP) capacity from 0.4 million Kms to 1.4 million KMs. Aksh Optifibre is also expanding its fiber manufacturing capacity in China, Mauritius and Silvassa.
The company said the trial run for developing the ophthalmic lens is in progress at its ophthalmic lens production facility in Kehrani, Rajasthan and will start the production early next month.
Aksh Optifibre is raising up to $35 million via issue of equity shares / convertible instruments by way of QIP or FCCB. Aksh Optifibre will also issue convertible warrants to the promoters for Rs 42.5 crore. The company will use funds for capital expenditure (Capex) for expansions, working capital requirements and other general corporate purposes.
It is estimated that nearly 520 million fibre-km bare fibre was consumed across the globe in 2017, resulting in surge of fibre prices. With approx consumption of 280 million fibre-km in 2017, the Chinese demand for optic fibre will play a major role in determining the world’s cable market growth.
“The roll out of the Bharat net project connecting 250,000 gram panchayats will increase the demand for the optic fibre by manifold times,” Satyendra Gupta, deputy managing director at Aksh Optifibre, said.