Aksh Optifibre reports 68 per cent increase in net profit in FY18

According to a release from the company, during the year, the company achieved its highest ever standalone turnover of Rs 594 Crore, as compared to Rs 484 Crore in the preceding financial year, registering a growth of 23%.

EBITDA margins at 12% were also up from 11% in the previous year.

Standalone PAT at Rs 23 Crore reported a significant increase of 68% as against Rs 14 Crore in the previous financial year.

The Board of Directors of the company has recommended dividend of Rs 0.30 per share (i.e 6 %), subject to shareholders’ approval.

With Silvassa and Mauritius’s OFC capacity coming on stream in June 2018, company’s total OFC production capacity will stand at 10.7 Mn FKM.

Ground breaking for Dubai Optical fibre manufacturing facility has also commenced and construction activities at the site are going on at the full swing, the release said.

Construction work at the company’s FRP production plant in China is also on track, and it is expected to start commercial production in September 2018.

Also, the company’s Opthalmic Lens division has rolled out its first batch of fine lenses into the market.

Satyendra Gupta, Deputy Managing Director at Aksh Optifibre Limited, said, “Investments made by the company in the previous years has lead FY2018 to be an outstanding growth year. We exited the financial year by running at optimal capacity utilization in most of our product segments, onus of this success goes to the committed customer demand that supported our capacity expansion initiatives. We also expect to see the incremental benefits of our capacity expansion initiatives in the financial year 2019 and beyond, going forward this will also pave the way for sustainable growth for the company."