Bangalore, 30th January 2005:
The Board of Directors of Opto Circuits (India) Ltd. (OCIL),
India’s leading manufacturer of healthcare equipments,
today approved and adopted its Unaudited Financial Results
for the third quarter and first nine months ended December
31, 2005. The company has posted impressive results for
the quarter as well as for the nine-month period.
For the quarter ended December 2005, OCIL
has reported a topline of Rs. 3,218.17 lakh, a 68.4% increase
from the Rs. 1,911.03 lakh for the corresponding period
of the last year. The bottomline has improved from Rs. 456.13
lakh to Rs. 1,002.08 lakh, a growth of 119.69%.. The quarterly
EPS works out to Rs. 3.74 (not annualised) on the enhanced
equity of Rs. 26.81 crore (after the 1:2 bonus).
The results for the nine-month period are
equally impressive. Topline improved 59.8% to Rs. 8,058.32
lakh from Rs. 5,042.73 lakh, while bottomline showed a robust
growth of 89.07% at Rs. 2,268.84 lakh as against Rs. 1,199.97
lakh at the end of the nine-month period ended December
2004. The nine-month EPS works out to Rs. 8.46 (not annualised)
on the enhanced equity of Rs. 26.81 crore (after the 1:2
bonus).
Speaking after the announcement of results,
Vinod Ramnani, Chairman & Managing Director, said:.
“Our renewed focus on international markets has contributed
wholly to these figures. The acquisition of EuroCor is a
matter of great satisfaction and we are happy to announce
that the final formalities of the acquisition are now complete.”
In terms of sales by Geography, the US still
accounts for a bulk of the revenues, with Rs. 4,378.58 lakh
being accounted by the region in the first nine months as
against Rs. 2,887.25 lakh in the previous corresponding
period. Singapore follows closely with the corresponding
numbers for the nine-month periods at Rs. 3,539.22 lakh
and Rs. 1,845.58 lakh respectively. “Other regions
like Netherlands, South Africa, Dubai and Israel have started
to show good results for us,” says Ramnani.
OCIL has been growing both organically
as well as inorganically. It recently completed the acquisition
of EuroCor in Germany. EuroCor manufactures Cardiac Stents
of various types, including Drug Eluting coronary Stents
used in Critical Cardiac Care.
OCIL has recently filed its Draft Red Herring Prospectus
(DRHP) with SEBI for its Follow-on Public Offer (FPO) of
40,00,000 equity shares of Rs. 10 each for cash at a premium,
at a price to be determined through the 100% book building
process. The FPO of OCIL will constitute 12.99% of the fully
diluted post-issue paid-up capital, which will stand at
Rs 30.81 crore. Karvy Investor Services Ltd. and SBI Capital
Markets Ltd. are the Book Running Lead Managers to the FPO.
Karvy Computershare Pvt. Ltd. is the Registrar to the FPO.
