New Delhi- 13th November, 2017: Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], the leading Indian manufacturer of Optical Fibre, Optical Fibre Cables, Fibre Reinforced Plastic rod and a major e-Governance & Turnkey service provider reported its Q2 FY18 financial results.
During the quarter company achieved Revenues of Rs 145 Crore, as compared to Rs 115 Crore registering a growth of 26% on QoQ basis. EBITDA of Rs 15 Crore up by 41% on QoQ basis. EBIDTA margins have improved to 11%, as against 9% in previous quarter. PAT also increased to Rs 5.06 Crore from Rs 2.14 Crore.
Q2 FY18 Financial Summary
Mr. Satyendra Gupta, Deputy Managing Director at Aksh Optifibre Limited, commented, "The quarter gone by has witnessed certain positive events which will shape a better future for the organisation in the times to come. Consistent efforts towards expansion of existing operations and strengthening core processes will lead to fruitful results in the quarters to come. The margins will strengthen further in the near future, as Company has taken steps to mitigate the risk from high raw material prices, by making operational its additional optical fibre capacity in its Bhiwadi plant facility. The Ophthalmic lens facility is in the process of rolling out its first batch of lenses soon, for which the trial run has already started."
During the quarter gone by the company's order execution remained robust as a result it achieved improved turnover, compared to the previous quarter. Despite, witnessing challenges in sourcing the key raw material for its optical fibre cable segment at the economically viable prices, company has still managed to improve its margins due to setting up its additional optical fibre towers in its Bhiwadi plant facility, which has become operational during the end of the quarter. However, the complete impact of the decreased cost of raw material will get fully captured in the subsequent quarters to come.
With the objective to maximize shareholders value and improve the competitive position of the combined entity, the company has merged its subsidiary company APaksh broadband Ltd with its parent company Aksh Optifibre Ltd. This initiative shall facilitate better integration, financial strength, tax savings and stronger balance sheet of the amalgamated entity.
With the global IP traffic rising at rates above 20% per year, world cumulative fibre deployment passed a total of 3 billion fibre Km in 2016. Expected rollout of 5G will open new horizons and support new applications and new business cases for carriers, including: automotive, smart city, commercial M2M, other revenue streams. IoT and 5G is expected to spur fibre deployment in local areas and backbones. New mobile infrastructure will be expected to deploy extensive fibre and power networks. Mobile operators will be bound to use fibre for backhaul and fronthaul in most locations to meet bit-rate and latency requirements.
Amidst all the fibre oriented action taking place globally, Aksh is poised to grow and maintain its global market positioning. In concurrence with the global demand, the company has embarked upon its journey of global presence by expanding its footprints and has already announced capacity expansion plans for Optical Fibre & Optical Fibre Cable in Dubai and Mauritius. These plans are at a nascent stage of development, and will be favourable for the overall growth of the organization once being rolled out.
New Delhi- 30th August, 2017: Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], In accord with the Prime Ministers Mission of Banking for Everyone & Financial Inclusion, Aksh Optifibre Ltd is pleased to inform that its services division has been successful in getting empanelled as National Level Bank Correspondent for Bank of Baroda.
Under this programme AKSH plans to setup 5,000 banking kiosks through its flagship services arm "1 STOP AKSH" in the upcoming year. Under "1 STOP AKSH " the company is operating 10,000 plus existing e-Mitra kiosks in Rajasthan, out of which 500 plus are already serving as banking kiosks. The company also plans to mobilize the rest of the "1 STOP AKSH" kiosks to offer 360 degree banking services, which will be operated on behalf of Bank of Baroda primarily in the rural areas. The services offered will comprise of opening of Saving bank, Time Deposit & Recurring Deposit accounts, collection of biometric and demographic details, providing Micro Insurance and processing loan applications. The key focus areas for Aksh will be to create awareness and educate rural habitants about savings habits, use of micro finance solution & RuPay card, along with imparting knowledge about optimal funds management practices and debt counselling.
"The Government of India plans to nurture a digitally empowered nation and it promises to digitally connect every individual and household of the country. In sync with The Government of India's "Digital India" initiative, Aksh with its "1 STOP AKSH" kiosk network commands a strong position to connect to the end user by leveraging its e- Governance platform to offer wide variety of services and products.
Being a national level engagement programme it will gradually allow Aksh to charter into the e-Governance and services territories beyond Rajasthan. AKSH is foreseeing a buoyant e-Governance and services business through banking, Smart city and UIDAI verticals. BOB tie up will be an essential steppingstone for Aksh to expand its services division's operational footprints Nationally".
New Delhi- 12th August, 2017: Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], the leading Indian manufacturer of Optical Fibre, Optical Fibre Cables, Fibre Reinforced Composites and a major e-Governance & Turnkey service provider reported its Q1 FY18 financial results.
Mr. Satyendra Gupta, Deputy Managing Director at Aksh Optifibre Limited, commented, "The quarter went by featured steady margins growth, where top line remained a little subdued due to constraints faced from the supply of raw material. However the Company expects revenues to grow going forward, as the Company has taken steps to counter the raw material related issue by doing backward integration and has successfully set up its additional optical fibre capacity, which will get operational in the early third quarter of financial year. The key accomplishments of this quarter were securing the prestigious Jaipur Smart City Project and healthy order book in OFC & FRP segment. We are moving towards a path to accelerate growth with a focus on three key priorities: growing revenues, expanding our product portfolio, and strengthening Aksh's presence on the global front."
Q1 FY18 Financial Summary
- Gross Revenue at Rs. 123 Crores, down by 15% on QoQ basis, highest ever in Q1
- EBIDTA at Rs. 11 Crore, higher by 61% on QoQ basis
- PAT at Rs. 2.18 Crore, against the loss of Rs. 0.58 Crore during last quarter.
The Company's diversification plan to venture into country's under penetrated ophthalmic lens segment is progressing successfully, and Company's state of the art ophthalmic lens plant in Kaharani (Rajasthan) is progressing as per schedule and will be operational within the second quarter of financial year.
In sync with the smart cities mission of The Government of India, Aksh has successfully forayed into Smart City projects with a vision for planned development and progressive growth in various cities of the country. The Company has been awarded the eminent Jaipur Smart City Project. The project envisages development of Smart City through laying of optical fibre cables, providing smart lighting systems and IP based traffic surveillance solutions.
The Company's management is confident about the unparalleled and robust demand in the optical fibre segment which is growing at a torrid pace and is set to maintain its buoyancy globally as well as domestically. Impetus in the optical fibre cable segment is expected to witness growth due to installation of broadband data lines, proliferation of connected devices (IoT) and the rise in adoption of 3G, 4G and evolution of 5G telephony.
World's installations of optical cable totalled 229 million fibre-km in H1 2017, which represents an increase of 9% from H1 2016. The corresponding amount of bare fibre shipped to cable manufacturers is expected to close calendar year 2017 to a record level of 500 million km.
Jaipur, 30th June, 2017: Aksh Optifibre Limited (AOL), the leading Indian manufacturer of Optical Fibre, Optical Fibre Cables, Fibre Reinforced Composites and a major e-Governance service provider was recently honoured with the prestigious Bhamashah Award for its stellar contributions in the development of Education in Bhiwadi and Reengus, Rajasthan
The Education Department, Govt. of Rajasthan duly recognized and appreciated Aksh Optifibre Limited's CSR initiatives in the field of Education for the third consecutive year and has bestowed the prestigious "BHAMASHAH AWARD" to both of its manufacturing locations at Bhiwadi and Reengus on the occasion of Bhamashah Jayanti on 28.06.2017 at Birla Auditorium, Jaipur. The award was presented by Honourable Chief Minister of Rajasthan Smt. Vasundhara Raje Scindia to Aksh Optifibre Limited
The organization has undertaken a series of initiatives for the social development & empowerment of the country. Under Aksh CSR initiative 'Muskaan', the organization further improved the infrastructure of its adopted Govt. Secondary School in Santhalka (Bhiwadi) by providing another 100 sets of class room furniture, construction of school main gate in secondary section, setup of e-learning class room, installation of CCTV camera, repairing of class rooms, ground levelling & development of pathway using interlocking tiles, plantation of trees & development of lawn, bala painting & writing work, carpets for yoga classes and providing full time employee for day to day cleaning and housekeeping activities
Under 'ShikshaHamaraSwabhiman' at Reengus (Sikar), the organization has adopted three government schools, Govt Girls Sr. Sec School, Reengus, Govt Sr. Sec School Reengus and Govt. Upper Primary School, Parsarampura. Here, Aksh Optifibre Limited developed infrastructure such as construction of tin shed, setting up of e-learning class room, painting & renovation of building, light & invertor fitting, providing music instruments, educational painting in class rooms and more
On this momentous occasion, Mr. Ramgopal, ED at Aksh Optifibre Limited, commented,
"Corporate Social Responsibility is one of the key benchmarks of Aksh's societal responsibility and commitment and such token of appreciation not only motivates us to explore new avenues to create more society friendly campaigns in the future but also to continuing partake in with utmost enthusiasm."
Bhamashah Awards honours the year's most powerful, innovative and comprehensive CSR efforts that have made a deep impact on the economic and social upliftment of the society. These awards celebrate individuals and organizations that championed the incredible impact CSR campaigns can have on our communities
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 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.
Optical fibre firm Aksh Optifibre today sought shareholders nod to diversify its business in the field of eyewear, lighting, solar products and financial technologies.
The company in a postal ballot notice sent to shareholders has sought their approval to change some clauses in its Memorandum of Association (MOA) that will enable it to operate new businesses related to eyeware, lighting and financial technologies that include ATM business as well.
Aksh has sought change in MOA "to design, manufacture, sell, market, retail and deal as distributor, wholesaler, retailer and render after sales services of sunglasses/ prescription glasses and frames, lens, hearing aids and related accessories".
Aksh Optifibre Limited reports strong financial results for Q4 FY16 & FY 2015-16. YoY Revenue increased by 23% to Rs. 462 crores and EBIDTA at record high of Rs. 74 Crores up by 34%. New Delhi, May 30, 2016: Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], the leading manufacturer of Optical Fibre, Optical Fibre Cables, FRP Rods and largest e-governance (E-mitra) service provider in the state of Rajasthan announced its results for Q4 and FY 2015-16 in New Delhi. The Company has recorded remarkable growth:
- Quarterly revenue at Rs. 130 Crores, Up by 19% QoQ
- Annual revenue at Rs. 462 Crores, Up by 23% YoY
- Quarterly EBITDA of Rs. 21 Crores, Up by 32% QoQ
- Annual EBITDA of Rs. 74 Crores, Up by 34% YoY
New Delhi, October 13, 2015: 1 Stop Aksh, the e-governance arm of Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR] and e-Mitra, a leading government initiative in Rajasthan for connecting villages through IT infrastructure , today announced that it has launched its first e-Health service at its kiosks where a citizen can ask a doctor about his or her health issues. A rural citizen can walk-in into any e-Mitra kiosk and can get answers to his questions from doctors all over the world by making a nominal payment.
Through "Ask a Doctor" services, a citizen can get answers online or through phone. The services cater to most of the common health needs of the citizens. 24x7 "Ask a Doctor" service allows a consumer to write a health query, attach a picture or upload a lab report and post to doctors across the world in just a few clicks. The services are being provided to RajCOMP Info Services Ltd. (RISL), a fully owned Govt. of Rajasthan company in partnership with Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, finance and healthcare industries. Ebix's medical advisory service has an online network of approximately 15,000 Physicians and Surgeons spread across 50 specialties including alternative medicine. The Company's online network of Doctors answers the questions in minutes, with thousands of Doctors spread across geographies and time zones.
Mr. RK Sharma- Joint Director, DoIT & Communication, Govt. of Rajasthan, commenting on the occasion said," We have a strict mandate from the Government of Rajasthan to make the best of e-Health services available to the citizens of the state through our e-Mitra programme. We hope to achieve significant increase in the average state health index through the "Ask a Doctor" services. This service will be of great significance in the years to come as our citizens in the rural parts of the state will have access to world class primary health services and will be able to get the proper treatment guidance from Doctors without having to leave town to go to a bigger hospital for consultation. Our primary objective at this stage is to educate and integrate technology enabled health services into the lives of the citizens".
The e-health services will mainly be delivered to the citizens through the 1 Stop Aksh e-Mitra kiosks that operate across the state. The company currently operates over 6000 kiosks across the state with a target of opening 10,000 kiosks in the state by Q2 2016. Mr. Lokesh Khandelwal- Project Head, Aksh Optifibre Limited said," 1 Stop Aksh is a trusted name in the state for all e-Governance services in Rajasthan. We hope to take this noble service to each and every citizen in need of medical attention and provide a new age solution to an age old problem. Health services are the most essential rights that we have as citizens of this country and the Government is looking at all possible ways to reach as many people as it can. I personally feel that citizens not only in the rural parts but also in the urban areas will find this service beneficial".
New Delhi, June 1, 2015: Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBR], the New Delhi based leading manufacturer of Optical Fibre, Optical Fibre Cables & FRP Rods has announced its results for Q4 and FY 2014-15 results. The company's net profits before exceptional items and tax increased 67% to Rs.31.67Crores 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 Govt. of Rajasthan for delivering over 200 Government-to-Citizen (G2C) & 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. 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:
- 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 CroresThe 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.
- Commissioning of manufacturing facility for FRP rods at its newly constructed state-of-the-art facility in Jafza, Dubai in AOL FZE, awholly 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 4000 kisok holders as at 31st 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 Defense 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 & 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 school in Rajasthan where a complete infrastructure overhaul was conducted by the company as part of its growing CSR initiative.
Q4 FY 15
Q3 FY 15
Q4 FY 14
|PBT before exceptional items and tax||
Aksh Optifibre Limited ]BSE: 532351 | NSE: AKSHOPTFBR], has been awarded an order of about 102 Crore (USD 17 Million) for the supply of Optical Fibre Cables to be used for India's Defence Network For Spectrum (NFS) project. The Company emerged as the lowest bidder along with the state run Telco ITI., for Package F of the project which mainly covers West Bengal, Orissa, Bihar, Jharkhand, Andaman & Nicobar Islands & Sikkim. The companies will be involved in supplying and handling end-to-end deployment of an optical fibre cable backbone network for India''s armed forces.
The Defence NFS project consists of total OFC routes, aggregating to 57,015 km which is divided into seven packages and is planned to be completed in 18 months time. The project will be handled on a turnkey basis, intended for rollout of a nationwide OFC network and will be owned and operated by the Defence Services under the Project Implementation Core Group (PICG) of Ministry of Defence. This mega network will be deployed with state-of-the-art fibre optic cable technology which will form the backbone optical highway infrastructure and serve as a highly resilient and reliable communication media for the defence sector.
Mr. Chetan Choudhari, Managing Director- Aksh Optifibre Ltd., after being awarded the contract said "The Company has extensive capability in manufacturing custom made cables for different requirements and geographies and is more than delighted to be a part of the strategically important NFS project of the Indian Armed Forces." He also added that "Aksh has had a long and successful history of being associated with mega telecom projects of the Government and has added incremental value to each assignment that it has undertaken. This time as well, Aksh developed a custom cable design to suit the robust needs to the network without compromising on the strength of the cables, making them highly durable & maintenance free."
The defence telecom project is crucial since the armed forces will migrate all their communication needs to this alternate optic fibre network and free more bandwidth for commercial telephony. The armed forces had vacated some 3G airwaves in August 2010 after it was assured that the telecom department would keep its side of the deal in rolling out an alternate communications network. This had enabled DoT to auction 3G airwaves four years ago. The mega communications network that BSNL will build for the armed forces has several key packages, including the optical fibre backbone, network management systems and a satellite network, and will cost in excess of Rs 13,000 crore.
Aksh Optifibre currently has 3 state of the art manufacturing units; One in Bhiwadi, Rajasthan which primarily caters to the manufacturing of World Class Optical Fibre & Optical Fibre Cables and another unit in Reengus, District Sikar, Rajasthan which specializes in the manufacturing of FRP Rods and Optical Fibre Cables and a newly commissioned FRP manufacturing facility in Jafza, Dubai. At present 70% of the company's revenue comes from exports and the company has emerged as a leader in the supply of Optical Fibre, Optical Fibre Cables & FRP Rods exporting to more than 56 countries across 6 continents.
Competent authority has approved registration for the 24 Fibre Armoured Optic Fibre Cable
It gives us an immense pleasure to announce the successful completion of the turnkey ADSS project in Bhutan that Aksh Optifibre Limited undertook in 2010. The ominous project was launched under the aegis of the Bhutan Power Corporation Limited into 2 phases. In both the phases Aksh was involved in the complete supply, live line installation and commissioning of 24/48/72F ADSS and 24F Underground cable with associated hardware fittings, FODP, Test equipments and end to end fibre connectivity and laid a total fibre network of more than 2000 Km. The first phase of this contract was completed in February, 2013 that connected all the 20 districts and 201 village and is used by Government Owned Service provider, Local Telecom Service Providers and DITT to drive a new age of Telecom & IT revolution in the Himalayan Kingdom of Bhutan and the second phase is completed in June, 2014 that provided connectivity to 185 village,161 Community centres and 20 district administrative offices. The total project value is about USD 6 Million.
The big challenge of the project has been the installation of ADSS Cable and hardware fittings suitability for the span length of 60 meter to 400 meter length on electrical lines at voltage levels of 33 KV and below on BPC poles in very difficult hilly terrain where there is no road access, highly stringent environment and high altitude locations in entire part of country.
Benefits & Outcome of the ADSS Project:
- High speed internet facility is available in all parts of the Country. People from remote areas need not to travel in difficult terrains from their villages to cities to get the facility of Internet, Fax and Telephone.
- All the Govt. to Citizen Services has been launched through local customer centres connected with fibre network till remote areas that provides all the citizen-centric services at their doorstep.
- Cable TV has got upgraded with many international channels, network till remote places
- All the banks & big financial institutions are using core banking/Internet banking services for their domestic and International business transactions.
- Educational institutions, Govt. offices & Private Corporations are very well equipped with broadband & video conferencing facility to expand the global reach.
Aksh Optifibre Limited has recently been type approved from Globe Telecom and accreditated by Dun & Bradstreet
AkshOptifibre Limited (AKSH), founded in 1986 with a modest beginning as a copper cable manufacturing company, with continuous innovations and backward integration, has grown steadily to become a technology leader and a global player in the Optical Fibre (OF), Optical Fibre Cables (OFC) and FRP rods manufacturing.
The company in the year 1994 decided to diversify into manufacturing of optical fibre and set up a plant at Bhiwadi Industrial Area, Rajasthan; and in the year 1999, the company divested its PVC division. As a step towards backward integration, the company took over the manufacturing facility of FRP Rods at Ringus in Rajasthan. During 1999-2000, the company acquired an ongoing OFC plant of another company situated at Bhiwadi.
Since its establishment in 1986, Aksh Optifibre Limited has been playing a key role in driving the growth of the fibre-to-the-home (FTTH) market. The company started manufacturing optic fibre and optic fibre cable (OFC) in 1994 and since then has emerged as a key player in the FTTH segment.
Aksh serves various industry verticals and its client base in India includes Bharat Sanchar Nigam Limited (BSNL), Mahanagar Telephone Nigam Limited (MTNL) and other government sectors such as defence and the railways. Over the years, the company has expanded its footprint overseas and currently exports its products to the US, South America, Europe, the Commonwealth of Independent States, Africa, the Middle East and Asia.
New Delhi-based Aksh Optifibre Ltd. (BSE: 532351 | NSE: AKSHOPTFBREQ) says it has won the contract to supply fiber-optic cables for Package B of India's National Optic Fiber Network (NOFN) backbone project.
The NOFN project aims to connect over 250,000 gram panchayats (local government institutions in villages or small towns) across India. The aim is to sow the seeds for an e-revolution in the rural parts of the country by empowering the nation to provide better e-governance, e-health services, and educational services at the grass roots level. Scheduled to be complete by September 2015, the project will provide high-speed broadband Internet to all 250,000 gram panchayats with speeds of up to 100 Mbps.
Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBREQ], the New Delhi based leading manufacturer of Optical Fibre, Optical Fibre Cables & FRP Rods has bagged the contract for Package B of the National Optic Fibre Network (NOFN) backbone project for supplying Optical Fibre Cables. The project is aimed at connecting over 250,000 gram panchayats across the country and lead the charge towards empowering the heart of the nation for better e-governance, e-health services and better educational services at the grass root level in India. The project is scheduled to be completed by September 2015 and aims to provide high-speed broadband internet to all the 250,000 Gram Panchayats with speeds of upto 100 mbps to create a model of development and sow the seeds for an e-revolution in the rural parts of the country.
The National Optical Fiber Network project is aimed at connecting over 250,000 gram panchayats across the country and lead the charge toward empowering the heart of the nation for better e-governance, e-health, and educational services at the grass root level. Chetan Choudhari, Managing Director, Aksh Optifibre Limited
Aksh Optifibre Limited is currently running high on the latest National Optic Fiber Cable contract worth `200 crore, which has been awarded to the company by Bharat Broadband Network Limited (BBNL). The National Optical Fiber Network (NOFN) project is aimed at connecting over 250,000 gram panchayats across the country and lead the charge toward empowering the heart of the nation for better e-governance, e-health, and educational services at the grass root level. The project is scheduled to be completed by September 2015 and aims to provide high-speed broadband Internet to all the 250,000 gram panchayats with speeds of up to 100 mbps to create a model of development and sow seeds for an e-revolution in the rural parts of the country.
Aksh Optifibre rose 1.38% to Rs 14.70 at 10:34 IST on BSE after the company said it has been awarded a Rs 200 crore plus order for Package B of ambitious National Optic Fibre Network backbone project.
Meanwhile, the BSE Sensex was down 52.30 points, or 0.25% at 21,212.88
On BSE, 9,686 shares were traded in the counter as against an average daily volume of 34,075 shares in the past one quarter.
NEW DELHI, INDIA: Aksh Optifibre Ltd has bagged the contract for Package B of the National Optic Fibre Network (NOFN) backbone project for supplying optical fibre cables.
The project is aimed at connecting over 250,000 gram panchayats across the country and lead the charge towards empowering the heart of the nation for better e-governance, e-health services and better educational services at the grass root level.
Aksh Optifibre Limited [BSE: 532351 | NSE: AKSHOPTFBREQ], the New Delhi based leading manufacturer of Optical Fibre, Optical Fibre Cables & FRP Rods has bagged the contract for Package B of the National Optic Fibre Network (NOFN) backbone project for supplying Optical Fibre Cables.