55 A. Aksh Optifibre

Even though Aksh Optifibre has been India’s second largest optic fiber
cable manufacturer, for long, it has always preferred a low profile existence.
However, things changed after its IPO in mid-2000. And even as its BSE listed
stock hogged the limelight, the company, too, continuously grabbed attention
because of huge orders from different quarters and aggressive expansion plans.
Besides, the proliferation of OFC networks and the big plans of companies like
Reliance ensured continued focus on Aksh.

But beyond all this, what made the company bigger was its overall business
performance. Aksh Optrifibre’s turnover of Rs 142.55 crore in 2000-01 was 40
percent more than its previous year’s turnover of Rs 102.1 crore. The company
achieved a net profit of Rs 19.12 crore during the year as against Rs 5.83 crore
in 1999-2000, reflecting a growth of around 228 percent.

Among the big orders that the company received during the year was the Rs 60
crore order from BSNL for supply of 12F and 24F optical fiber cables. The
company also made a dent in the export market by executing orders worth Rs 24.07
crore during the period. The export earnings represented a 488 per cent growth
over the previous year. Among other things, the company took a step towards
backward integration by merging Telecords (India) Pvt Ltd, a manufacturer of
Fiber Reinforced Plastic rods.