Opto Circuits :Q3FY12 – Impressive growth in top line; but high tax outgo and interest pull down margins :GEPL

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Summary

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At the CMP of Rs261, Opto Circuits is trading at 10.59x and 8.64x its consensus FY12E and FY13E earnings estimates. Although it has no comparable listed peer in India, Opto is cheaper on valuations compared to its global peers; viz., Medtronics, Boston Scientific and Johnson & Johnson.