Aksh Optifibre Limited, 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 per cent 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.
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.
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