Beam Enters The Indian Satellite Market With Station Satcom; Stock Zoomed Up By 15%

Beam Enters The Indian Satellite Market With Station Satcom; Stock Zoomed Up By 15%

Beam Communications Holdings Limited (ASX: BCC) is an ASX listed company that designs and manufactures cellular and satellite equipment, with the distribution of related application and services. Some of the world’s largest satellite and telecommunications companies such as Iridium, Telstra, KDDI, Inmarsat & Thuraya, have adopted BCC’s technology and equipment, helping the company to fill the global needs of Information Communication & Technology markets. The company holds a 100% stake in Beam Communications Pty Ltd and SatPhone Shop Pty Ltd.

On 9th April 2019, the company announced that it has signed a reseller agreement with a leading satellite solutions company in the Indian market, named Station Satcom for Beam’s Inmarsat equipment. This agreement has created a formal partnership between the two companies (BCC and Station Satcom).

Besides, Station Satcom has recorded initial orders of worth US$250,000 for the Beam equipment, since the beginning of 2019. The orders have been placed after the Indian government’s approval to allow the sale and use of satellite devices on the Inmarsat satellite network. Further orders are expected by the company, as the Inmarsat service is gaining greater market application in India.

Station Satcom is an India and Singapore based satellite communications service provider. It has been offering a wide range of Remote Area Communications solutions operations across the world for more than 2 decades now. With a wide range of products, the Station Satcom aims to keep up with the new and innovative products, and services. At the same time, it maintains a high standard in support and service delivery. Some of its products and services are engineering and remote IT support, ECDIS with electronic charts, weather routing for fuel optimisation etc.

To the company’s advantage, Inmarsat is the only global satellite service that can operate in India, and most of Beam’s products that are supplied to and sold by Station Satcom in India have been for its docking station and its Oceana 800 satellite terminal, which is designed for maritime and in-building applications. These docking stations are only Inmarsat-approved docking units in the world, and Oceana 800 is the only device of its kind which runs on the Inmarsat GSPS Service. This has led towards little to no competition for Beam in the Indian market. This new entrance in the Indian market for the first time is expected to support the company’s positive outlook which has already enjoyed a 30% increase in sales in 1HFY19 over the previous corresponding period.

Mr Anshul Khanna, CEO of Station Satcom stated they are excited after seeing such solid, initial demand for its products in India and are expecting further strong sales of Beam’s Inmarsat equipment, after Inmarsat service penetration goes deeper into the Indian market in the due course. He further said that the reason behind selecting Beam for the partnership, was its strong brand recognition and long track record of manufacturing high-quality satellite devices for global satellite network operators.

On 19th March 2019, the company had released its investors’ presentation which led to a massive 41% rise in its stock price on that particular day.

On the technical front, the stock surged by more than 15% on ASX and is currently around A$0.26 5as of 9th April 2019 (AEST: 3:55 PM) compared to the previous closing of A$0.23. The stock has given a good rally in the last six months and delivered a return of 100% while YTD return stands at 64.29%.


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