MIRC Electronics Ltd

₹ 14.2 1.94%

21 May 10:34 a.m.

About

Incorporated in 1981, MIRC Electronics Ltd manufactures and trades consumer electronic products^[1]

Key Points

Business Overview:^[1]
MIRC is engaged in manufacturing /assembling and marketing of consumer durables both in brown goods segment and white goods segment. It has operations in consumer electronics, home appliances like Flat TVs, Washing Machines, Air-Conditioners. The company markets its products across India primarily under the ONIDA Brand.
Company has another brand IGO for targeting the rural segments. The company has ventured into Electronic Manufacturing Services for OEMs and 2 new segments viz.
Air Coolers and Dish washers

Website BSE NSE - BE

Market Cap ₹ 328 Cr.
Current Price ₹ 14.2
High / Low ₹ 33.0 / 11.1
Stock P/E
Book Value ₹ 5.44
Dividend Yield 0.00 %
ROCE 5.35 %
ROE -1.81 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 2.56 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 4.32% over past five years.
Company has a low return on equity of -16.7% over last 3 years.
Promoters have pledged 34.5% of their holding.
Earnings include an other income of Rs.10.7 Cr.
Debtor days have increased from 55.0 to 74.3 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Consumer Durables Industry: Electronics - Consumer

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	246.37	345.19	268.58	271.47	224.98	183.47	193.23	294.51	296.83	227.79	151.37	166.81	200.72
	246.37	341.47	267.14	271.21	225.37	186.70	196.38	287.80	342.83	223.08	145.71	168.60	201.16
Operating Profit	0.00	3.72	1.44	0.26	-0.39	-3.23	-3.15	6.71	-46.00	4.71	5.66	-1.79	-0.44
OPM %	0.00%	1.08%	0.54%	0.10%	-0.17%	-1.76%	-1.63%	2.28%	-15.50%	2.07%	3.74%	-1.07%	-0.22%
	-16.77	0.56	0.26	1.45	0.17	2.49	2.81	0.51	0.68	0.83	1.24	2.58	6.08
Interest	2.78	1.81	2.65	2.25	4.19	3.31	4.05	3.76	3.93	3.29	3.88	4.48	2.95
Depreciation	1.98	2.04	2.07	2.02	2.91	2.17	2.04	1.91	1.86	1.81	1.67	1.58	1.51
Profit before tax	-21.53	0.43	-3.02	-2.56	-7.32	-6.22	-6.43	1.55	-51.11	0.44	1.35	-5.27	1.18
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-21.53	0.43	-3.02	-2.56	-7.32	-6.22	-6.43	1.55	-51.11	0.44	1.35	-5.27	1.18
EPS in Rs	-0.93	0.02	-0.13	-0.11	-0.32	-0.27	-0.28	0.07	-2.21	0.02	0.06	-0.23	0.05
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,284	1,058	759	729	728	644	604	766	1,192	1,110	968	747
	1,293	1,017	760	695	686	628	600	752	1,179	1,105	1,014	739
Operating Profit	-9	40	-1	34	42	17	5	14	14	5	-46	8
OPM %	-1%	4%	-0%	5%	6%	3%	1%	2%	1%	0%	-5%	1%
	2	10	8	-22	5	2	3	10	-12	2	6	11
Interest	38	33	29	21	14	15	12	15	14	11	15	15
Depreciation	14	14	12	10	9	8	7	7	8	9	8	7
Profit before tax	-60	3	-33	-19	23	-4	-11	2	-20	-12	-62	-2
Tax %	0%	77%	-19%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-60	1	-27	-19	23	-4	-11	2	-20	-12	-62	-2
EPS in Rs	-3.06	0.04	-1.38	-0.91	1.02	-0.19	-0.50	0.08	-0.87	-0.54	-2.69	-0.10
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-3%
5 Years:	4%
3 Years:	-14%
TTM:	-23%

Compounded Profit Growth
10 Years:	5%
5 Years:	12%
3 Years:	18%
TTM:	96%

Stock Price CAGR
10 Years:	1%
5 Years:	25%
3 Years:	-5%
1 Year:	-36%

Return on Equity
10 Years:	-6%
5 Years:	-10%
3 Years:	-17%
Last Year:	-2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	14	20	20	21	23	23	23	23	23	23	23	23
Reserves	125	147	126	103	214	210	199	200	180	168	105	103
	268	212	199	167	50	70	80	85	68	82	104	102
	263	296	247	226	255	210	276	357	433	257	338	301
Total Liabilities	669	674	592	517	543	513	577	665	704	529	570	528
	152	127	115	114	106	101	96	87	92	87	78	72
CWIP	0	0	0	0	1	0	0	5	0	0	0	0
Investments	26	26	26	2	3	4	4	1	1	1	2	2
	491	521	451	401	433	408	477	573	611	440	490	454
Total Assets	669	674	592	517	543	513	577	665	704	529	570	528

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	55	44	22	50	47	-15	-4	15	24	-9	-5	31
	1	6	13	-15	-2	2	0	-1	3	8	-2	-8
	-59	-57	-38	-37	-43	2	-2	-7	-30	-1	8	-24
Net Cash Flow	-4	-7	-3	-2	3	-11	-6	7	-2	-2	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	35	43	63	63	67	68	48	55	31	29	61	74
Inventory Days	81	131	152	141	157	166	263	202	148	104	98	124
Days Payable	73	117	129	118	151	138	198	184	134	82	123	172
Cash Conversion Cycle	43	57	87	85	73	95	112	72	46	52	36	27
Working Capital Days	47	60	71	63	61	80	89	80	39	42	34	49
ROCE %	-5%	7%	-3%	8%	13%	4%	0%	3%	3%	-1%	-20%	5%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.37%	53.37%	53.37%	53.37%	53.37%
	1.43%	1.13%	1.02%	1.06%	1.06%	0.99%	0.99%	0.01%	0.00%	0.00%	0.06%	0.20%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.01%	0.01%
	45.20%	45.52%	45.62%	45.58%	45.58%	45.66%	45.64%	46.62%	46.63%	46.64%	46.57%	46.42%
No. of Shareholders	72,338	72,444	74,308	72,919	71,956	66,620	66,193	75,713	77,210	75,820	77,238	77,853

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	57.71%	52.91%	52.91%	53.36%	53.36%	53.36%	53.36%	53.37%	53.37%
	1.62%	1.53%	1.48%	1.40%	1.40%	1.36%	1.06%	0.01%	0.20%
	0.47%	0.20%	0.08%	0.01%	0.00%	0.00%	0.00%	0.00%	0.01%
	40.21%	45.37%	45.53%	45.23%	45.24%	45.28%	45.58%	46.62%	46.42%
No. of Shareholders	62,419	61,772	57,323	55,341	60,211	71,463	72,919	75,713	77,853

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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MIRC Electronics Ltd

MIRC Electronics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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