Opto Circuits (India) Limited

Stand-alone Results
OCI posted a 106 per cent rise in net profit at Rs 72.18 crore for the full year ended 31st March 2007 as compared to Rs 35.06 crore in the corresponding last year. Net sales rose by 74 per cent to Rs. 201.64 crore as compared to Rs. 116.04 crore during the same period last year.

For the fourth quarter ending 31st March 2007 (Q4 FY07), Net Profit after Tax (PAT) has increased by 102 per cent to reach a figure of Rs. 23.86 crore as compared to Q4 FY06. Net sales surged by 81 per cent to Rs. 64.19 crore.

The company has declared dividends and bonus for the sixth consecutive year. The Board of Directors has recommended a dividend of Rs. 5 per share, along with one bonus share for every two shares held, subject to approval of the share holders.

Consolidated Results
The consolidated results reflect a PAT of Rs 73.25 crore, a 90 per cent rise from the Rs.38.65 crore from the corresponding last year. Net sales also rose by 80 per cent at Rs. 251.57 crore from Rs. 139.78 crore. Earnings Per Share (EPS) on annualised basis stands at Rs. 11.89 on equity of Rs. 61.62 crore.

Comments Vinod Ramnani, Chairman & Managing Director, OCI, “ The Company has obtained CE for its ‘DIOR’ a pioneering paclitaxel eluting balloon dilation catheter used in PTCA procedures. DIOR has been successfully lauched in Europe and is in the process of registration of DIOR in India and the Far East. DIOR is being launched in India this quarter. We are also planning to start clinical trials in USA this quarter for both DIOR and Magical product”.

Key Highlights: FY07
FY07 saw Opto launching revolutionary new products in the cardiac devices’ business. DIOR, a pioneering paclitaxel-eluting balloon dilation catheter used in PTCA (percutaneous transluminal coronary angioplasty) procedures was launched and accredited by the CE (Conformite Europeen). DIOR can be effectively used in the treatment of coronary in-stent restenosis and treatment of small-diameter (less than 2.5mm) coronary artery lesions. Opto also received CE approval for its other products Amadeus Supercross, a coronary dilation catheter and E-WIRE, a guide wire for interventional use.

OCIL is also launching two new patient monitors this quarter and plans to complete a full range of monitor by December 2007.

Opto was certified to ISO 13485:2003 from Underwriters Laboratories Inc; enabling it to meet its customer and regulatory requirements. The company also announced the appointment of Dr. William Walter O'Neill as Additional Director to the Board of Directors. Dr. O’Neill is presently the Executive Dean for Clinical Affairs at the University of Miami’s Miller School of Medicine.

About Opto Circuits (India) Ltd.

Opto Circuits (India) Ltd. (OCIL) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a leading manufacturer of healthcare equipments in India. The product profile includes digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, Stents, Catheters and innovative products in the pipeline. In 2001, OCIL acquired 60per cent stake in Advanced Micronic Devices to market its equipments in India. OEMs contribute (80per cent) of sales while MediAid (100per cent US-based subsidiary) contributes the balance. MediAid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003. and now markets OCI’s products in the US markets directly. OCI acquired EuroCor Gmbh during 2006. EuroCor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents used in critical cardiac care. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynecology and Orthopedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai). Visit us at www.optoindia.com.