Aksh Optifibre Limited (AKSHOPTFBR)
📢 Recent Corporate Announcements
Aksh Optifibre Limited has issued the notice for its 39th Annual General Meeting to be held on September 28, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 financial statements and the re-appointment of Mr. Satyendra Kumar Gupta as Professional Consultant at Rs 7,50,000 per month. The resolution also outlines success-linked advisory fees of 0.25% on One Time Settlement (OTS) amounts with Union Bank of India, HDFC Bank, and Bank of Baroda, plus 0.40% on any fund infusions. The filing reiterates that the company is under CIRP proceedings, with NCLAT having stayed further IRP resolution steps on June 30, 2026.
- 39th AGM scheduled for September 28, 2026, with remote e-voting cut-off set for September 21, 2026
- Proposed monthly consultancy remuneration of Rs 7,50,000 for Mr. Satyendra Kumar Gupta from Dec 1, 2026, to Nov 30, 2027
- Incentive structure includes 0.25% success fee on bank OTS and 0.40% on new fund infusion
- Company operating under NCLAT order dated June 30, 2026, which stayed further CIRP steps by the IRP
Aksh Optifibre announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, approved by the Board and the Interim Resolution Professional (IRP). The filing highlights that the company was admitted to the Corporate Insolvency Resolution Process (CIRP) by NCLT Jaipur on June 19, 2026. Following an appeal by the promoter, NCLAT stayed further CIRP steps on June 30, 2026, directing operations to continue under IRP supervision with existing management assistance. This occurs against a backdrop of continuing debt pressure with total debt standing at ₹66 Cr against a market cap of ₹107 Cr.
- Q1 FY27 financial results approved for the quarter ended June 30, 2026 under IRP review
- Admitted to CIRP via NCLT Jaipur Bench order dated June 19, 2026 with Praveen Kumar Singhal appointed as IRP
- NCLAT granted interim relief on June 30, 2026 directing the IRP not to take further steps while supervising operations
- Promoter Dr. Kailash Shantilal Choudhari appealed under Company Appeal (AT) (Insolvency) No. 1095 of 2026
Aksh Optifibre Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies, confirms that share certificates received for dematerialization between April 1, 2026, and June 30, 2026, were processed within 15 days. This filing is a standard administrative requirement to verify that physical shares are being correctly converted to electronic form and cancelled. There are no financial implications or business updates contained in this announcement.
- Covers the quarter ended June 30, 2026
- Demat requests confirmed or rejected within the regulatory 15-day limit
- Certificate issued by Registrar KFin Technologies on July 04, 2026
The Hon'ble NCLAT has stayed further insolvency proceedings (CIRP) against Aksh Optifibre, providing a temporary reprieve from the NCLT Jaipur order. This stay is contingent upon the promoter depositing a total of ₹3.33 Cr (₹2 Cr principal plus interest) within six weeks. The company, which has a TTM revenue of ₹126 Cr and a net loss of ₹13 Cr, will continue to operate as a going concern under the supervision of the Interim Resolution Professional (IRP). This development pauses the immediate threat of liquidation or management takeover while the legal dispute is heard.
- Promoter directed to deposit a total of ₹3,33,14,075 (₹3.33 Cr) to stay the CIRP process
- Initial deposit of ₹2 Cr must be made within three weeks from June 30, 2026
- Remaining balance to be deposited within an additional three-week period
- IRP directed not to take further steps, allowing the company to function as a running concern
- Next hearing for the appellate proceedings is scheduled for August 6, 2026
Aksh Optifibre Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI insider trading regulations. This closure precedes the declaration of un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. This is a standard regulatory procedure to prevent insider trading during the sensitive period before financial disclosures.
- Trading window closure begins on July 1, 2026, for the Q1 FY2026-27 period.
- The closure applies to all Insiders, Designated Persons, and their immediate relatives.
- Window will reopen 48 hours after the announcement of un-audited financial results.
- The specific date for the board meeting to approve results will be announced separately.
Popatlal Fulchand Sundesha, a promoter of Aksh Optifibre Limited, has submitted a formal declaration under Regulation 31(4) of the SEBI (SAST) Regulations. The filing confirms that the promoter group did not create any new direct or indirect encumbrances on their shareholding during the financial year ended March 31, 2026. This disclosure includes other promoter group members such as Shailesh Popatlal Sundesha and Sharda Popatlal Sundesha. Such filings are routine annual requirements to maintain transparency regarding promoter share pledges.
- Promoter Popatlal Fulchand Sundesha confirms no new share pledges were made in FY 2025-26.
- Compliance filing submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
- The declaration covers four specific individuals within the promoter and promoter group.
- The disclosure has been submitted to both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Aksh Optifibre Limited has officially entered the Corporate Insolvency Resolution Process (CIRP) following an order by the NCLT Jaipur Bench. The insolvency was triggered by M/s Shantanu Investments Private Limited over a total default claim of ₹3,33,14,075, which includes a ₹2,00,00,000 principal amount. Despite the company's defense that the debt was disputed and adjusted against electricity overcharges, the NCLT has moved forward with the appointment of an Interim Resolution Professional (IRP).
- NCLT Jaipur Bench initiated CIRP against Aksh Optifibre via order dated June 19, 2026.
- Total default amount claimed is ₹3,33,14,075, comprising ₹2 crore principal and over ₹1.33 crore in interest/penalties.
- The company is a listed entity with a high public shareholding of approximately 73.05%.
- Management control will now shift from the board to the appointed Interim Resolution Professional (IRP).
- The dispute originated from an unsecured loan provided in 2010-2011 which the company claimed was settled through adjustments.
The NCLT Jaipur Bench has admitted Aksh Optifibre Limited into the Corporate Insolvency Resolution Process (CIRP) following a petition by Shantanu Investments Private Limited. The default amount cited is Rs. 2 crore plus interest. As a result, a moratorium has been declared under Section 14 of the IBC, and an Interim Resolution Professional (IRP) has been appointed. This process aims to resolve the company's debts but poses a significant risk to equity shareholders.
- NCLT Jaipur Bench admitted the Section 7 IBC application on June 19, 2026.
- The insolvency proceedings are based on an outstanding debt of Rs. 2,00,00,000 plus interest.
- Commencement of Corporate Insolvency Resolution Process (CIRP) and appointment of an IRP.
- Moratorium declared under Section 14 of the IBC, halting other legal actions against the company.
The Hon'ble NCLT, Jaipur Bench, has orally pronounced an order admitting Aksh Optifibre Limited into the Corporate Insolvency Resolution Process (CIRP) on June 19, 2026. The proceedings were initiated by Shantanu Investments Private Limited under Section 7 of the IBC for an outstanding debt of ₹2,00,00,000 plus interest. Consequently, a moratorium has been declared and an Interim Resolution Professional (IRP) has been appointed to oversee the company's operations. The detailed written order from the tribunal is currently awaited.
- NCLT Jaipur Bench admitted the Section 7 IBC application against the company on June 19, 2026.
- The insolvency petition involves a default amount of ₹2,00,00,000 plus accrued interest.
- Commencement of Corporate Insolvency Resolution Process (CIRP) has been ordered.
- An Interim Resolution Professional (IRP) has been appointed and a moratorium under Section 14 is in effect.
- Management control of the company will shift from the board to the appointed IRP.
Aksh Optifibre Limited is facing an insolvency application filed by Shantanu Investments Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). Following a split decision at the NCLT Jaipur Bench, a third nominated member has ruled that the application is maintainable, allowing the case to proceed. The company has formally challenged this ruling by filing an appeal with the National Company Law Appellate Tribunal (NCLAT). This legal development poses a significant risk to the company's operational stability and shareholder value.
- Insolvency application filed under Section 7 of IBC by Shantanu Investments Private Limited against the company.
- A third NCLT member concurred with the Technical Member's opinion, ruling the application maintainable.
- The case has been referred back to the original NCLT Jaipur Bench for passing appropriate final orders.
- Aksh Optifibre has already filed an appeal before the NCLAT to contest the maintainability of the application.
Aksh Optifibre reported a significantly narrowed standalone net loss of ₹856.42 lakhs for FY26, compared to a loss of ₹2,011.30 lakhs in the previous year. The company achieved a turnaround in Q4 FY26 with a net profit of ₹25.67 lakhs on revenue of ₹4,019.23 lakhs. Alongside financial results, the board appointed Ajay Kumar Singh & Co. as Cost Auditors and re-appointed internal auditors for FY27. However, the company remains under significant stress due to a pending insolvency application at the NCLT and a ₹6,937.33 lakh corporate guarantee demand.
- Standalone annual net loss narrowed to ₹856.42 lakhs in FY26 from ₹2,011.30 lakhs in FY25.
- Q4 FY26 revenue stood at ₹4,019.23 lakhs, helping the company post a marginal quarterly profit of ₹25.67 lakhs.
- Company faces a major legal risk with a demand notice of AED 270.20 lakhs (approx. ₹6,937.33 lakhs) related to a corporate guarantee.
- Insolvency proceedings under IBC are pending with the NCLT Special Bench, which has reserved its order.
- Appointed Ajay Kumar Singh & Co. as Cost Auditors and re-appointed Felix Advisory and S R Goyal & Co. as Internal Auditors for FY27.
Aksh Optifibre Limited reported a turnaround in Q4 FY26 with a net profit of ₹25.67 Lakhs, compared to a significant loss of ₹1,760.53 Lakhs in the previous year's corresponding quarter. For the full year FY26, the company narrowed its net loss to ₹856.42 Lakhs from ₹2,011.30 Lakhs in FY25, despite revenue remaining relatively flat at ₹12,570.66 Lakhs. The company's Services segment showed growth, contributing ₹6,322.28 Lakhs to the total revenue. However, significant legal risks persist, including an ongoing NCLT insolvency matter and a corporate guarantee demand notice of approximately ₹6,937.33 Lakhs.
- Q4 FY26 Net Profit of ₹25.67 Lakhs vs a loss of ₹1,760.53 Lakhs in Q4 FY25.
- Full-year FY26 Net Loss narrowed to ₹856.42 Lakhs from ₹2,011.30 Lakhs in FY25.
- Annual Revenue from operations stood at ₹12,570.66 Lakhs, a marginal decline from ₹12,712.48 Lakhs in FY25.
- Services segment revenue grew to ₹6,322.28 Lakhs, now slightly exceeding Manufacturing revenue of ₹6,248.38 Lakhs.
- Company faces a major legal contingency with a ₹6,937.33 Lakhs corporate guarantee demand and a pending NCLT order.
Dr. Kailash S. Choudhari, Chairman and Promoter of Aksh Optifibre Limited, has issued a formal declaration under SEBI (SAST) Regulations for the financial year ended March 31, 2026. The filing confirms that the promoter group, consisting of five entities including the Rohan Rashi Family Trust, did not create any new direct or indirect encumbrances on their shares during the year. This is a routine annual compliance requirement intended to provide transparency regarding the status of promoter-held equity. It ensures that shareholders are informed of any potential risks related to pledged shares.
- Declaration submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Covers the entire promoter group including Dr. Kailash S. Choudhari, family members, and the Rohan Rashi Family Trust.
- Confirms no new encumbrances were made during the financial year ending March 31, 2026.
- The disclosure serves as a routine verification of the existing pledge status previously reported to exchanges.
Dr. Kailash Shantilal Choudhari, the promoter of Aksh Optifibre Limited, has submitted a formal declaration under Regulation 31(4) of SEBI (SAST) Regulations for the financial year ended March 31, 2026. The filing confirms that the promoter group, including five specific entities, has not created any new direct or indirect encumbrances on their shareholding during the period. This is a standard annual compliance disclosure aimed at providing transparency regarding promoter share pledges. The declaration has been submitted to both the NSE and BSE as per regulatory requirements.
- Compliance filing under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Promoter group confirms no additional shares were pledged or encumbered during the financial year ending March 31, 2026.
- The declaration covers five entities: Dr. Kailash Shantilal Choudhari, Mrs. Mona Choudhari, Dr. Rohan Kailash Choudhari, Ms. Rashi Choudhari, and Rohan Rashi Family Trust.
- The disclosure has been shared with the Audit Committee and Compliance Officer of Aksh Optifibre Limited.
Aksh Optifibre Limited has secured a significant legal victory against Union Bank of India. The Debt Recovery Tribunal (DRT), Jaipur, has set aside the Demand Notice and Possession Notice previously issued by the bank under the SARFAESI Act, 2002. This ruling effectively quashes the securitisation action initiated by the bank, preventing the immediate seizure of company assets. This development provides substantial relief to the company's operational continuity and financial standing.
- DRT Jaipur set aside the Demand Notice issued under Section 13(2) of the SARFAESI Act
- The Possession Notice issued under Section 13(4) of the SARFAESI Act has been quashed
- The favorable order was passed on March 24, 2026, and received by the company on March 26, 2026
- The ruling halts the bank's immediate attempt to take control of company assets
Financial Performance
Revenue Growth by Segment
Consolidated revenue for Q2 FY26 grew 19.43% YoY to INR 31.19 Cr. The Manufacturing segment grew 16.45% YoY to INR 17.51 Cr, while the Services segment grew 23.48% YoY to INR 13.68 Cr.
Geographic Revenue Split
Not explicitly disclosed in percentage terms, but the company operates through foreign subsidiaries in UAE (AOL FZE), Mauritius (Aksh Technologies), and China (AOL Composites Jiangsu), indicating significant international exposure.
Profitability Margins
The company reported a consolidated Net Loss margin of -7.73% for Q2 FY26. While still loss-making, the net loss narrowed by 38.02% from INR 3.89 Cr in Q2 FY25 to INR 2.41 Cr in Q2 FY26.
EBITDA Margin
Core segment profitability is mixed; the Services segment achieved a profit of INR 1.42 Cr (approx. 10.4% margin), whereas the Manufacturing segment recorded a loss of INR 1.60 Cr in Q2 FY26.
Capital Expenditure
Historical capital expenditure is reflected in Property, Plant, and Equipment valued at INR 95.11 Cr as of September 30, 2025, down from INR 99.74 Cr in March 2025 due to depreciation.
Credit Rating & Borrowing
The company faces severe credit stress, evidenced by a SARFAESI Act notice from Union Bank of India. Current consolidated borrowings stand at INR 81.49 Cr as of September 2025.
Operational Drivers
Raw Materials
Glass preforms, silica, aramid yarn, and various resins/chemicals used in the production of Optical Fiber and FRP rods.
Import Sources
Not disclosed in available documents, though the presence of a Chinese subsidiary (AOL Composites Jiangsu) suggests sourcing or manufacturing links in East Asia.
Capacity Expansion
Current installed capacity is not specified in units; however, segment assets for Manufacturing are valued at INR 221.50 Cr as of September 2025.
Raw Material Costs
Not explicitly broken out as a percentage of revenue in the quarterly summary, but manufacturing segment results remain negative, suggesting high input or fixed costs relative to current output.
Manufacturing Efficiency
The manufacturing segment is currently underperforming with a loss of INR 1.60 Cr in Q2 FY26, indicating sub-optimal capacity utilization or high overheads.
Strategic Growth
Growth Strategy
The company is focusing on its Services segment, which is currently profitable (INR 1.42 Cr profit in Q2 FY26). Strategic recovery depends on resolving debt via the SARFAESI proceedings and settling export-related statutory dues through government amnesty schemes.
Products & Services
Optical Fiber, Fiber Optic Cables, FRP (Fiber Reinforced Plastic) Rods, and turnkey telecommunication services.
Brand Portfolio
AKSH, Live Smart.
Market Expansion
The company maintains a global footprint through subsidiaries in UAE, Mauritius, and China to capture international demand for fiber optics.
External Factors
Industry Trends
The industry is shifting toward high-speed data transmission and 5G, which increases demand for optical fiber; however, Aksh is currently constrained by financial liquidity rather than market demand.
Competitive Landscape
Competes with global and domestic optical fiber manufacturers; the company is currently at a disadvantage due to its 'modified' auditor opinion and financial stress.
Competitive Moat
The company possesses an integrated manufacturing setup for optical fiber and FRP rods, but this moat is currently weakened by a negative consolidated net worth of INR 1.54 Cr.
Macro Economic Sensitivity
Highly sensitive to telecom infrastructure spending and government policies regarding fiber-to-the-home (FTTH) and 5G rollouts.
Consumer Behavior
Increasing demand for high-bandwidth internet is driving the need for fiber optic expansion globally.
Geopolitical Risks
Operations in China (Jiangsu) and UAE (FZE) expose the company to regional trade policies and geopolitical stability in those corridors.
Regulatory & Governance
Industry Regulations
Subject to Export Promotion Capital Goods (EPCG) and Advance Authorization Scheme regulations. Non-compliance has resulted in a contingent liability of INR 28.57 Cr (interest and duty).
Taxation Policy Impact
The company reported a tax credit/benefit of INR 1.01 Cr for Q2 FY26, which helped narrow the net loss.
Legal Contingencies
The company is contesting a SARFAESI Act notice from Union Bank of India. There is also a significant unprovided liability of INR 20.17 Cr in interest and INR 8.40 Cr in cenvatable duty related to export schemes.
Risk Analysis
Key Uncertainties
The primary uncertainty is the company's ability to continue as a 'going concern' given the negative equity of INR 1.54 Cr and the SARFAESI proceedings by lenders.
Geographic Concentration Risk
Significant assets are tied up in foreign subsidiaries, with 'Liabilities classified as held for sale' amounting to INR 78.44 Cr.
Third Party Dependencies
High dependency on Union Bank of India for debt resolution and the Indian Government for the amnesty scheme regarding export duties.
Technology Obsolescence Risk
The fiber optic industry is capital intensive; failure to invest in next-gen fiber manufacturing could lead to obsolescence.
Credit & Counterparty Risk
Trade receivables stand at INR 23.76 Cr (standalone), representing a significant portion of current assets and a risk if customers delay payments during the company's financial restructuring.
