OPTO CIRCUITS (INDIA) LIMITED

OPTO CIRCUITS (INDIA) LIMITED

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Company Overview
Opto Circuits (India) Limited is a publicly quoted company engaged in the manufacture and marketing of health care and medical electronic products. The company has its registered office located in Bangalore, India. It was incorporated in the year 1992. The company is publicly traded on the Bombay Stock Exchange under the trading symbol OPTOCIRCUI.
Opto Circuits’ health care products include Pulse Oximeter, a patient monitoring system, which is used to measure the level of oxygen saturation in the blood and the pulse rate; Multiparameter monitors that are used for monitoring the patient’s vital signs, such as electrocardiogram, blood pressure, temperature, oxygen level saturations, and heart rate; and Pulse Oximeter sensors, which act as the interface between the patient and the monitoring systems. The company’s health care products comprise digital thermometer that is used to measure body temperature; cholesterol monitor, a portable battery operated instrument, which is used to measure the total cholesterol in the blood; Thermal Angel, a portable blood and IV fluid infusion warming device; and coronary stent system that provides Paclitaxel to the stented lesion and into the injured coronary artery. Its optoelectronic products consist of infrared emitters, which are discrete components that emit infrared light; infrared detectors that detect or receive infrared light; and photo sensor, detector, and emitter assemblies, which are used to sense motion, objects, speed, and distance.
Opto Circuits is India’s leading manufacturer of medical diagnostics and interventional products. Its vision to be a growing force in patient care arena by producing by creating a distinct status for itself in the manufacture of Opto Electronics products. The company has business operations in Germany, France, Poland, Dubai, and the United states. Its customers include Philips Medizine Systems, General Electric Medical Systems, Wockhardt Heart Hospital, Manipal Group of Hospitals, and Apollo Group of Hospitals.
Business Summary
The Company is engaged in the development, manufacture, distribution and marketing of medical equipment and devices.
Description and history
The Company is engaged in the development, manufacture, distribution and marketing of medical equipment and devices.

HISTORY:

The Company was originally Incorporated as Opto Circuits (India) Private Limited on June 8, 1992 in Bangalore, India under the Companies Act, 1956 vide Registration No. 08/13223 of 1992. The Company was subsequently converted as a Public Limited Company with effect from April
29 2000 pursuant to Sections 31 and 44 of the Act. On December 1, 1996 the registered office of our company was shifted from No. 38/3 Sri Laxmi Industrial Complex, Hosur to Plot No. 83, Electronics City, Hosur Road, Bangalore – 560 100.during Sept 2000 .

The Company raised Rs. 13.51 Cr. through the public issue. The issue proceeds will be used for repayment of debt, capacity expansion and for setting up a marketing office in UK

The main promoters are Mr. Vinod Ramani (Managing Director), Mr. Thomas Dietiker and Mr. Jayesh Patel. All of them are in the age range 39-43 years, are qualified Engineers and have extensive experience in the field of Optoelectronics. From 1983 to 1987, all of them were in United Detectors Technology, USA. All of them left the company together and joined Opto Sensors ( at USA and Singapore). Elekon Industries Singapore was established by the promoters in 1990. Later Elekon Industries USA was established and in 1992 Opto Circuits India Pvt. Ltd. was established.

The Company manufactures optoelectronic components and assemblies with 75 % of the revenues coming from medical optoelectronics. The main product is the oximeter probes, used in hospitals and operating theaters for sensing the oxygen level in the blood and the pulse rate.These are disposable products and can be used only once. Remaining 25 % of the turnover comes from optoelectronic components used in security systems, computer peripherals and other applications. The company`s entire production is currently exported as a result it is able to get substantial tax benefits.

The Company`s final customers are OE manufacturers to whom the company supplies probes, subassemblies and components. Most of the Company`s sales are made via Elekon Industries USA Inc., which markets the products to the OE manufacturers. Elekon Industries is primarily held by the promoters of Opto Circuits. The company also plans to market directly to the OE manufacturers.

The Company will also be setting up a marketing office in London, U.K. for servicing the European market.

Business Line
Engaged in the manufacture and marketing of health care and medical electronic products
Subsidiary
ADVANCED MICRONIC DEVICES LTD.
Advisor
ANAND AMARNATH AND ASSOCIATES
IPO date
8/25/2003
US SIC Code
3679
Company Address
Plot No. 83
Hosur Road, Electronics City
City province or state postal code
561229, BANGALORE
Phone: +91 80 2852 1040
Fax: +91 80 2852 1094
Country address: INDIA
Website url: www.optoindia.com