Aksh Optifibre Ltd Stock Analysis

BSE: 532351 | NSE: AKSHOPTFBR | Cable | Small Cap

BSE Share Price 29-Nov-2022 18:01
10.15 -0.19 (-1.84%)

DeciZen - Make an Informed Decision on Aksh Optifibre

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Aksh Optifibre Price Chart

P/E Ratio (SA) :
11.22
Market Cap :
168.2 Cr.
52-wk low :
8
52-wk high :
15.9
Bole Toh?

1. Is Aksh Optifibre Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Aksh Optifibre Ltd is a below average quality company.

2. Is Aksh Optifibre Ltd undervalued or overvalued?

The key valuation ratios of Aksh Optifibre Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Aksh Optifibre Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Aksh Optifibre Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Aksh Optifibre:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Aksh Optifibre Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 5.5%5.7%7.8%9.2%4.1%5.4%6.3%-22.3%4.3%7.5%-
Value Creation Index -0.6-0.6-0.4-0.3-0.7-0.6-0.6-2.6-0.7-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 233220348435458583529250246301294
YoY Gr. Rt. %--5.6%58.3%24.8%5.3%27.4%-9.4%-52.7%-1.4%22.2%-
Adj EPS 1.51.42.12.40.81.41.6-8.90.210.9
YoY Gr. Rt. %--2.1%45.8%14.5%-64.6%69.1%10.6%-668.2%NA431.6%-
BVPS (₹) 24.2242627.428.830.231.616.316.417.517.8
Adj Net Profit 21.621.131.338.613.623.225.6-145316.415
Cash Flow from Ops. -10.813.27.129.455.53.110482.54456.5-
Debt/CF from Ops. -8.28.916.732.4741.91.93.41.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.9%-8%-17.1%22.2%
Adj EPS -3.9%3.8%-13.7%431.6%
BVPS -3.5-9.5-17.96.6
Share Price -5.5% -21.3% 12.8% 21.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 6.45.98.49.234.85.1-37.31.165.2
Op. Profit Mgn % 1415.21516.710.711.916.78.714.117.416.7
Net Profit Mgn % 9.39.698.9344.8-581.25.55.1
Debt to Equity 0.20.30.30.20.30.50.40.60.60.40
Working Cap Days 397412236210229216265449315233208
Cash Conv. Cycle 49636162667298162103630

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 5.20%

Debt to equity has declined versus last 3 years average to 0.38

Sales growth is good in last 4 quarters at 11.21%

Sales growth has been subdued in last 3 years -17.10%

Net Profit has been subdued in last 3 years -13.67%

Latest Financials - Aksh Optifibre Ltd.

Standalone Consolidated
TTM EPS (₹) 0.9 0
TTM Sales (₹ Cr.) 294 306
BVPS (₹.) 17.8 6.4
Reserves (₹ Cr.) 209 23
P/BV 0.58 1.61
PE 11.22 246.67
From the Market
52 Week Low / High (₹) 8.01 / 15.89
All Time Low / High (₹) 2.68 / 173.20
Market Cap (₹ Cr.) 168
Equity (₹ Cr.) 81.4
Face Value (₹) 5
Industry PE 28.9

Management X-Ray of Aksh Optifibre :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.0038.9538.9538.9538.9538.9538.950.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Aksh Optifibre

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Aksh Optifibre Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Aksh Optifibre on 29-Nov-2022 18:01 is : 10.15.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Nov-2022 18:01 the market cap of Aksh Optifibre stood at ₹ 168.2.
The latest PE ratio of Aksh Optifibre as of 29-Nov-2022 18:01 is 11.22.
The latest PB ratio of Aksh Optifibre as of 29-Nov-2022 18:01 is 0.58
The 52-week high of Aksh Optifibre is ₹ 15.89 and the 52-week low is ₹ 8.01.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Aksh Optifibre is ₹ 293.9 ( Cr.) .

About Aksh Optifibre Ltd

Aksh Optifibre Limited, an ISO 9002 company certified by US-based Underwriters Laboratories Inc, was incorporated in the year 1986 as private limited company. It was converted into a public limited company on March 13, 1994.

The company is engaged in the production of a variety of cables such as:

  • SingleMode & MultiMode Cables
  • Duct Cables
  • Armoured & Aerial Cables, Indoor
  • Outdoor Cables
  • The company has also the facilities of producing ribbon Fibre Optic

Aksh Optifibre diversified into the manufacture of Optic Fibre Cables in September 1994, by setting up a plant amidst pastoral environment at Bhiwadi, Rajasthan that is at a distance of about 70 km from New Delhi. The project was set up with a state-of-the-art computerized machinery supplied by the Rosendahl (Austria), an affiliate of Alcatel under their guarantee for producing cables of highest quality with annual capacity of 6500 CKM. 

In order to protect itself from raw material shortages, Aksh, in 1995, set up a 150,000 fibre kilometre (fkm) facility for manufacture of optical fibres from quartz 'Preforms'. Nokia of Finland supplied the equipment. This was the first stage of backward integration for Aksh. With this set-up Aksh was among the first companies in India to set up its own fibre optic-manufacturing units.In 1999- 2000 it changed focus to exclusively manufacturing optic fibre and optic fibre cables and hived off the copper division and acquired CMI Ltd.'s Optic Fibre division, a move that enhanced its capacities from 33,222 ckm in '98-99 to 50,358 ckm.

Aksh has two plants at Bhiwadi and one at Jaitpura, Rajasthan manufacturing FRP rods, with capacity of I.2 lac. Aksh has also recently commissioned a fibre tower and has increased capacity of FRP manufacturing, from 1.2 lac to 3 lac km per annum, at Ringus. Both the plants at Bhiwadi are ISO-9002 certified by Underwriters Laboratories for manufacture of premises cable .

Currently Aksh has an in-house capacity to manufacture 150,000 fkm. This has been increased by 6,50,000 fkm by commissioning of the 1st tower under the old project.

Aksh raised Rs 358.10 million through a public issue in August 2000, to finance the expansion of optic fibre capacity from 150,000 fkm to 1.45 million fkm per annum; optic fibre cables from 50,358 ckm to 81,000 ckm; and for creating capacity to manufacture preforms for 1.08 million fkm per annum.

Milestone Achievements

  • 1986 : Incorporated as a Private Limited Company
  • 1994 : Converted into a Public Limited Company
  • 1994 : Diversified into the manufacture of Optic Fibre Cables (OFC) by setting up a plant at Bhiwadi (Plant-I). Annual capacity - 6500 Cable Kilometers (CKM).
  • 1995 : Integrated backwards into manufacture of Optical Fibre with Annual capacity of 150,000 Fibre Kilometres (FKM).
  • 1998 : ISO 9002 accreditation by United Laboratories (UL), USA.
  • 1999 : Turnover OFC manufacturing capacity to 33,000 CKM
  • 1999 : Took over the Optical Fibre Cable plant of CMI Ltd., Plant-II, Capacity increased to 50,000 CKM.
  • 2000 : Came out with an IPO and got listed on BSE, NSE and JSE.
  • 2000 : Merged Telecords (India) Private Limited manufacture of FRP rods with Plant at JaitPura (Plant-IV).
  • 2001 : Enhanced the production capacity of Fibre to 1.45 million FKM, by commissioning a dual Fibre Drawing Tower
  • 2001 : Started a plant for Fibre Reinforced Plastic (FRP) rods at Ringus (Plant-III) with capacity of 0.3 million KM.
  • 2002 : Increased capacity at Ringus plant to 0.8 million KMs
  • 2003 : Added capability to manufacture Ribbon cable and special access cable
  • 2009 : Aksh Optifibre Ltd Successful renewal of ISO 9001:2008 by Underwriters Laboratories Inc. (UL). - Aksh Optifibre Ltd Became member of FTTH council.
  • 2012 : Aksh Optifibre Ltd merger with Aksh Technologies Ltd.

Other developments

Recently Aksh has taken a step further for backward integration by merger with Telecords (I) Pvt. Ltd. for the manufacture of Fibre Reinforced Plastic (FRP) rods. AKSH produces variety of cables such as SingleMode & MultiMode Cables, Duct Cables, Armoured & Aerial Cables, Indoor & Outdoor Cables. The Company has also the facilities or producing ribbon Fibre Optic Cables.

Aksh has recently developed a new cost-effective concept called 'Fibre-to-Home', through which they expect to revolutionise the IT and telecom industry completely. It's a concept that would bring wireless Voice, Audio, Video and Internet direct to home.

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