Working to improve domestic market presence: Opto Circuits

Opto Circuits is working towards improving its footprint in the domestic market by participating in the Make in India initiative, says CMD Vinod Ramnani in an interview to CNBC-TV18.

The company’s stock price spiked today after the Cabinet approved medical devices manufacturing park in Tamil Nadu.

Ramnani expects the company, which turned earnings positive with a marginal Rs 0.3 crore net profit in the first quarter, to continue improving its performance both on revenue and bottom line.

It is also working towards gradually reducing the debt which has been a major put off for investors.Below is the verbatim transcript of Vinod Ramnani\\'s interview to Ekta Batra & Prashant Nair.Ekta: Could you give us a sense in terms of how exactly it would benefit a company such as Opto Circuits. How much of your sales come in from the domestic market?A: We are just planning because we already have 250 acres of land which is designated as healthcare manufacturing. We are looking into it because we have a lot of hopes in the domestic market going forward and as the largest manufacturer of healthcare equipments, we are looking very positively and the market looks promising with that the government policies coming in favour of healthcare and medical equipments.Ekta: How much of your sales come in from the domestic market and how much is from exports?A: Right now majority of the sales is coming from international market but we are trying to restructure the whole thing and see how much share we can get out of Indian market because it is just the opening of the market and a lot of things are still imported here but with our technology and with the product range we have. I am sure if we can make it India - the government is pushing for the Make in India programme, we can definitely benefit from it and with the technologies we have and capture quite a bit of Indian market.Ekta: Going back to Q1 numbers, you have broken into black on the bottomline with a net profit of Rs 0.3 crore. Your sense on whether or not you would be able to sustain it and how your US business is performing at this point?A: It should look better going forward. The business is going up and we have restructured the whole thing but this is just a standalone, this quarter we gave but the guidance is that things are looking better.Ekta: A perennial problem which has been always dominating the company has been your debt.A: It\\'s gradually going down. There is improvement in debt reduction.Ekta: Where does it stand? What do you want to bring it down to?A: Our efforts are to bring it as low as we can but I cannot give a number offhand but yes, we are working on it. However, you can see the improvement on our debt situation in the balance sheet every six months.