Opto Circuits – wired for profits

The FY 2010 results show that Opto Circuits is on the growth track. At CMP 215 and EPS of Rs. 14.4 (diluted), Opto Circuits is trading at an attractive PE of 14.93 FY 2010. This translates to a PE of 11.50 times FY 2011E earnings and 9.77 times FY 2012E earnings. This valuation is compelling for a company with good growth prospects and a track record of consistent wealth creation through dividends & bonuses