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Opto Circuits (India) Limited
Sector:Healthcare/Hospitals Healthcare/Hospitals - Healthcare
BSE:532391NSE:OPTOCIRCUIBloomberg:OPTC@INReuters:OPTO.BO
Market Lot: 1Face Value: 10ISIN Demat: INE808B01016
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02-Jun-2014
Business Profile
Bangalore-based Opto Circuits operates in the medical electronics space and manufactures optical sensors, security systems and optoelectronic equipment. The company also undertakes design of optoelectronic devices.

Seventy five per cent of the company`s revenues come from medical optoelectronics. Most of the company`s sales to OEM customers are made through Elekon Industries USA. It also manufactures a range of healthcare equipment like pulse oximeter, multi parameter monitors, pulse oximeter sensors, digital thermometers, cholesterol monitors and fluid warmers. Optoelectronics manufactured by the company include infrared emitters, infrared detectors, photo sensors, detector and emitter assemblies and baggage scanners.

It is a recognized export house and has CE and FDA approvals for many of its products. Its list of clients include Philips Medizine Systems, General Electric Medical Systems, Life Stream Technologies etc., and hospitals like Apollo, Escorts, Breach Candy, Lilavati and Wockhardt.

Financials
The company reported fall of 160.49% in consolidated net profit on y-o-y basis to Rs 67.88 million, while total income fell 100.00% y-o-y basis to Rs 0.00 million for the quarter ended December 2013.

Recent Developments
07-MAY-14
Opto Circuits (India) announced on Tuesday that its board of directors has approved the increasing the authorised share capital to Rs 7 billion from present authorised share capital of Rs 3 billion and also to make necessary amendments in the memorandum of association in this regard.

20-FEB-14
Cardiac Science Corporation, a group company of Opto Circuits (India) announced that its powerheart G5 AED has received 510(k) market clearance from the USFDA (Food and Drug Administration), allowing the company to begin selling the AED later this year along with Powerheart G3 product line.

19-SEP-13
Opto Circuits (India), Bangalore based medical devices company, has called 21st annual general meeting (AGM) on Monday, Sept. 30, 2013 to consider and approve the balance sheet and profit & Loss account for the year ended Mar. 31, 2013.

04-SEP-13
Opto Circuits (India) announced that P. V. Rao has has been appointed as chief financial officer of from Sept. 04, 2013.

14-AUG-13
Opto Circuits (India) announced that its board of directors has approved issue of right shares to the existing shareholders in the ratio of one share for every six shares held at the rate of Rs 31 a share, to raise about Rs 1.25 billion subject to all necessary approvals.

14-AUG-13
Opto Circuits (India) disclosed a drop in consolidated net profit for the quarter ended June 2013. During the quarter, the profit of the company declined 62.88% to Rs 512.30 million from Rs 1,380.00 million in the same quarter previous year.

27-JUN-13
Natwest Bank Plc as Trustee of the Jupiter India Fund has sold 0.52% stake in Opto Circuits (India) on Thursday for Rs 24.51 million.

18-JUN-13
Eurocor GmbH, a group company of Opto Circuits (India) announce that their partner Micell Technologies, Inc. received CE (Conformit?? Europ??enne) Mark approval for its MiStent?? Sirolimus Eluting Absorbable Polymer Coronary Stent System (MiStent SES??) introducing a thin-strut stent that features elimination of the coating from the stent in 45-60 days and the complete absorption of the polymer coating within 90 days.



Future Plans
In a move to facilitate its foray into the US markets, the company is planning to raise about Rs 860 million by way of issuing warrants on a preferential basis to strategic investors and promoters of the company.

In Brief
 
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