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Opto Circuits (India) Ltd.

BSE: 532391 Sector: Health care
NSE: OPTOCIRCUI ISIN Code: INE808B01016
BSE 00:00 | 15 Feb 8.06 -0.42
(-4.95%)
OPEN

8.30

HIGH

8.55

LOW

7.71

NSE 00:00 | 15 Feb 8.00 -0.50
(-5.88%)
OPEN

8.30

HIGH

8.50

LOW

7.70

OPEN 8.30
PREVIOUS CLOSE 8.48
VOLUME 90346
52-Week high 16.35
52-Week low 7.62
P/E 7.90
Mkt Cap.(Rs cr) 242
Buy Price 8.06
Buy Qty 1800.00
Sell Price 8.20
Sell Qty 10.00
OPEN 8.30
CLOSE 8.48
VOLUME 90346
52-Week high 16.35
52-Week low 7.62
P/E 7.90
Mkt Cap.(Rs cr) 242
Buy Price 8.06
Buy Qty 1800.00
Sell Price 8.20
Sell Qty 10.00

Opto Circuits (India) Ltd. (OPTOCIRCUI) - Director Report

Company director report

BOARDS REPORT

Your Board is pleased to present the 26th Annual Report on the business and operationsof Opto Circuits (India) Limited together with the Audited Financial Statements of yourCompany for the year ended March 31 2018.

FINANCIAL HIGHLIGHTS :

Particulars for the year ended March 31st

STANDALONE

CONSOLIDATED

2018 2017 2018 2017
I. Revenue from operations 6346.46 5038.01 22836.29 21529.19
II. Other Income 24.57 16.99 120.76 69.51
III. Total Income ( I+II) 6371.03 5055.00 22957.05 21598.70
Expenses
Cost of materials consumed 2763.93 2252.60 10300.64 9311.31
Purchase of stock in trade - - 114.92 600.70
Changes in inventories of FG WIP & Stock in trade 6.42 (270.31) (30.06) 13.29
Employee benefit expenses 766.06 820.53 3624.94 3877.01
Finance cost 136.32 785.21 575.99 1707.14
Depreciation & Amortisation Expenses 906.04 879.45 1258.70 1603.40
Other Expenses 791.75 735.09 3623.38 5368.04
IV. Total Expenses 5370.52 5202.56 19468.51 22480.88
V. Profit /(Loss) before exceptional items and tax ( III-IV) 1000.51 (147.56) 3488.54 (882.18)
VI. Exceptional items - 36256.56 (160.29) 49867.30
VII. Profit /( Loss) before tax ( V-VI) 1000.51 (36404.13) 3648.83 (50749.48)
VIII. Tax Expenses
1) Current tax - - 89.43 81.29
2) Deferred tax - - 0.43 0.29
IX. Profit /(Loss) for the period from continuing operations (VII-VIII) 1000.51 (36404.13) 3558.98 (50830.48)
X. Profit /(Loss) from discontinued operations - - - -
XI. Tax expenses of discontinued operations - - - -
XII. Profit /(Loss) from discontinued operations after tax ( X-XI) - - - -
XIII. Profit/(loss) for the period ( IX+XII) 1000.51 (36404.13) 3558.98 (50830.48)
XIV. Other Comprehensive Income/(loss)
a) Items that will not be reclassified subsequently to profit/loss - - - -
b) Items that will be reclassified subsequently to profit/loss - - - -
XV.Total Comprehensive income for the year (XIII+XIV) 1000.51 (36404.13) 3558.98 (50830.48)
Profit for the year attributable to:
Shareholders of the company 1000.51 (36404.13) 3462.16 (51007.24)
Non-Controlling Interests NA NA 96.82 176.76
Earnings Per Equity Share
Basic 0.39 (15.02) 1.34 (21.05)
Diluted 0.39 (15.02) 1.34 (21.05)

COMPANY'S PERFORMANCE ON STANDALONE BASIS

Standalone total revenue was at '6346.46 Lakhs for the financial year ended 31st March2018 as against '5038.01 lakhs for the corresponding financial year ended March 31 2017a incline of 26 %. Standalone profit/ (loss) after tax for the financial year ended 31stMarch 2018 is at '1000.51 lakhs as against '(36404.13) lakhs for the correspondingperiod financial year ended March 31 2017. Earnings per share for the year ended 31stMarch 2018 is at '0.39 Basic.

ON CONSOLIDATED BASIS

Consolidated revenue is at '22836.29 lakhs for the financial year ended 31stMarch 2018 as against '21529.19 lakhs for the corresponding period of financial year2017. Consolidated profit after tax for the year ended 31st March 2018 is at'3558.98 lakhs as against '(50830.48) lakhs for the corresponding period of financialyear 2017. Earnings per share for the year ended 31st March 2018 is at '1.34Basic.

DIVIDEND

Your Directors have not recommended any dividend for the year ended 31stMarch 2018.

TRANSFER OF RESERVE

Your Directors have decided to retain the entire amount of '1000.51 lakhs in retainedearnings.

CHANGES IN SHARE CAPITAL

There is no change in the authorized share capital of the Company.

During the year under review issued and paid up capital stood revised as under:

As per the terms approved by the Share holders at their 25th Annual GeneralMeeting held on September 05 2017 The Board of director of the company at their meetingheld on 23rd November 2017 has allotted 45175999 Equity shares of '10/ eachissued at a price of '15/- per share (36601318 Eq. shares under stock swap basis (otherthan cash) and 8574681 Eq. Shares against loan conversion) to other than promoters on apreferential basis in accordance with provisions specified under Chapter VII of SEBI(ICDR) Regulations 2009.

Consequent to above Preferential Allotment the Paid up Capital is revised as under;

Issued & paid up capital
Before allotment '2423194070/- consisting of 242319407 equity shares of face value of '10/- each fully paid.
After allotment '2874954060/- consisting of 287495406 equity shares of face value of '10/- each fully paid.

DISCLOSURE REGARDING ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS

During the year under review the Company has not issued Shares with DifferentialRights.

DISCLOSURE REGARDING ISSUE OF EMPLOYEE STOCK OPTIONS

During the year under review the Company has not issued Shares under Employee StockOptions.

DISCLOSURE REGARDING ISSUE OF SWEAT EQUITY SHARES:

During the year under review the Company has not issued Sweat Equity Shares.

SUBSIDIARIES JOINT VENTURE AND ASSOCIATE COMPANIES:

During the year under review the Company continues to have Nine (9) directsubsidiaries. In accordance with Section 129(3) of the Companies Act 2013 the Companyhas prepared consolidated financial statements of the Company and all its subsidiarieswhich forms part of the Annual Report. Further a statement containing the salientfeatures of the financial statement of our subsidiaries in the prescribed format AOC - 1is appended as Annexure -A to the consolidated financial statement and hence not repeatedhere for the sake of brevity.

The policy for determining material subsidiaries as approved may be accessed on theCompany's website at the link:http//www.optoindia.com/pdf/OGL%20-20on%20Material%20Subsidiariesx.pdf

There has been no material change in the nature of the business of the subsidiaries.