Opto Circuits posts 43% rise in Q4 net

Commenting on the results, Vinod Ramnani, chairman and managing director, Opto Circuits said, "We have been growing at a healthy rate consistently over the past few years. This year we have been able to increase our share in both the export and domestic markets."

During the current financial year, the company aims to consolidate its presence further with the acquisition of Criticare Systems. "The market size is very huge for coronary stents overseas and we expect to keep the momentum going," he said.

The board of director's of the company has declared dividends and bonus for the seventh consecutive year. The board has recommended a dividend of Rs 5 per share, along with seven bonus share for every ten shares held, subject to approval of the share holders.
 
FY08 saw Opto acquiring Criticare Systems, Inc, a US-based healthcare company for $68 million. Criticare Systems' expanded product line and technology will allow Opto Circuits to enter new markets and compete more effectively with leading manufacturer of Vital Sign Monitors, Anesthesia Monitors, Pulse Oximeters, Patient Monitors and accessories.

In addition the acquisition adds the anesthesia gas monitoring capability to Opto's technology portfolio. During the year, OCI also expanded its medical technologies portfolio by acquiring domestic manufacturing companies Devon Innovations Pvt Ltd and Ormed Medical Technology Ltd.