Aksh Optifibre Ltd Share Price

History of Aksh Optifibre Ltd

Aksh Optifibre Limited (AOL) was originally incorporated as a Private Limited Company in the name of 'Aksh India Private Limited' in March, 1986. The Company was then converted into a Public Limited Company and the name of the Company was changed to Aksh India Limited and further to Aksh Optifibre Limited, in 2000. AOL originally used to manufacture and export PVC and PE Insulated Speciality Cables and later on diversified into Optical Fibre Cables. The Company is presently engaged in the manufacturing and selling of Optical Fibre, Optical Fibre Cable, Fibre Reinforced Plastic Rods, Impregnated Glass Roving Reinforcement and ophthalmic lens. It caters to both domestic and international markets. Apart from these, it provides the E Governance services and FTTH services. During the yea ...r 2000, the company has entered into a scheme of merger with Telecords (India) Private Ltd., as a major step towards backward integration for manufacturing FRP rods, one of the principal raw materials use to manufacture optical fibre cables and hence will be the only one in India that manufactures FRP rods as well as optical fibre. The company has initiated steps to build an additional state-of-the-art facility to manufacture FRP Rods, Optical Fibre and Proof Cable at Khatushyamji - Ringus and has acquired 1,88,720 sq.mtrs. of land with its installed capacity from 120,000 to 30,000 km per annum. The company believes that its capacity to manufacture FRP rods will be the highest in the world. The company is planning to expand their current capacities of optical fibre cables to 2,10,000 ckm. Fibre capacity to 53,00,000 lkm and FRP capacity to 10,00,000 km by Mar'02. AOL is in the process of incorporating two wholly-owned subsidiaries which will be up and running within 15 months. Of these, one subsidiary will offer telecom solutions to bandwidth owners and the other will deliver convergence solutions (addressing the fiber-to-home domain) through services like voice telephony, fast Internet downloads and video-on-demand. The Company launched Proof Cable in revolutionizing Telecom Sector in 2001-02. It developed 'Gramdoot,' a revolutionary concept designed to bridge the digital divide between rural India and the rest of world, by providing e-governance and rural convergence through an optical fibre network. The Company formed two wholly owned subsidiary Companies, namely Aksh Broadband Limited and Aksh Networks Limited during 2002. It developed a new aerial optical fibre cable called Droplite in 2004-05. Aksh Network Limited ceased to be subsidiary of the Company with the allotment of 1,20,000 equity shares to the persons other than the Company during 2003-04. It developed a New Micro Cable upto 72Fibre in 2004-05. In 2005-06, it launched a new ADSS cable for Aerial Installation; a 24F Composite Micro Cable; added 96 fibre micro cable to its series. In 2006-07, the undertaking of Aksh Broadband Ltd merged into the Company through the Scheme of Amalgamation implemented. In terms of the said Scheme, the shareholders of erstwhile Aksh Broadband Limited were allotted Equity Shares in the ratio of 7:2 shares in the Company by virtue of which, the shares got listed on the Stock Exchanges. APAKSH Broadband Limited was made a subsidiary of the Company upon merger of Aksh Broadband Limited with the Company. During the period 2007-09, the Fibre Draw Tower recommissioned, thereby increasing the Fibre Draw capacity to 1.6 million FKM. The Company thereafter developed Low Bend Fibre for the Fibre To The Home (FTTH) applications. It started commercially IPTV services under 'icontrol' brand with MTNL in cities of Delhi and Mumbai and with BSNL in 20 cities of North India in the States like Punjab, Haryana, Rajasthan, Jammu & Kashmir, Himachal and UP. It further promoted five 100% subsidiary companies, viz., Apaksh Broadband Limited, Aksh Technologies Limited, Aksh Infratel Limited, Aksh Net Tel Limited and SPYK Global Limited. In 2009-10, the Company with BSNL, started pilot project of FTTH (Fibre- to- the- Home) services in the city of Jaipur. The manufacturing operations of the Company comprising manufacturing of Optical fibre, Optical fibre cable and FRP Rods was transferred on going concern basis, to the Wholly Owned Subsidiary, Aksh Technologies Limited, which became effective on 14th November, 2009. The Company incorporated one Wholly Owned Overseas Subsidiary, AOL-FZE in Dubai, UAE in 2010-11. The erstwhile Aksh Technologies Limited (ATL), wholly owned subsidiary amalgamated with the Company effective on November 24, 2012. In 2013- 14, the Company commissioned FRP Production Plant at JAFZA Dubai, through its wholly owned subsidiary AOLFZE', which commenced commercial production from September 15, 2014. During the year 2016-17, Aksh ventured on the inorganic journey by acquiring Unitape Mandovi Composites Private Limited (name changed to Aksh Composites Private Limited) in Silvassa, for expanding its FRP footprints, having a producon capacity of 2.16 Lakhs km/annum. The Company also done capacity expansion along with modernisaon in its Optical Fibre Cable (OFC) Plant located at Bhiwadi, wherein the OFC capacity increased by approximately 100%. It announced setting-up Optical fibre (OF) manufacturing facility in Jebel Ali Free Tarde Zone (JAFZA), UAE with capacity of 4 Million fibre Km per annum costing Rs. 78 Crore. The erstwhile Apaksh Broadband Limited amalgamated with the Company through the Scheme of Amalgamation, which became effective on November 10, 2017, resulting, all business undertakings of erstwhile Apaksh were transferred to and vested in the Company effective April 1, 2016. The Company commissioned additional Optical Fibre Cable (OFC) at Silvassa Plant in June, 2018.