MIC Electronics Ltd

MIC Electronics Ltd

₹ 28.5 4.97%
04 Oct - close price
About

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988.

Key Points

History[1]
The company was ranked 5th in the world at one point in time in the area of true color
display. SHARP (Japan) selected MIC for the OEM purchase of Solar Powered Lanterns for its CSR activity. It became the first and only company (for a long time) to obtain RDSO approval for True Colour PIS displays and for railway coach lighting products.

  • Market Cap 629 Cr.
  • Current Price 28.5
  • High / Low 31.7 / 10.8
  • Stock P/E 289
  • Book Value 0.08
  • Dividend Yield 0.00 %
  • ROCE 8.88 %
  • ROE 9.06 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 495 to 143 days.

Cons

  • Stock is trading at 365 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Earnings include an other income of Rs.1.84 Cr.
  • Working capital days have increased from -2,016 days to 1,307 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
0.00 1.02 0.06 0.01 0.26 3.40 26.97 0.51 1.19 0.50 1.24 2.96 7.02
0.19 3.61 0.60 -1.67 1.11 3.67 19.21 1.78 1.61 0.78 2.04 0.68 5.07
Operating Profit -0.19 -2.59 -0.54 1.68 -0.85 -0.27 7.76 -1.27 -0.42 -0.28 -0.80 2.28 1.95
OPM % -253.92% -900.00% 16,800.00% -326.92% -7.94% 28.77% -249.02% -35.29% -56.00% -64.52% 77.03% 27.78%
0.00 0.76 0.03 2.35 0.01 0.05 0.30 0.83 0.24 0.36 0.54 0.77 0.17
Interest 0.05 0.01 0.01 0.02 0.66 0.18 0.27 0.03 0.10 0.10 0.19 0.11 0.42
Depreciation 1.71 1.70 1.71 1.70 0.65 0.65 0.65 0.66 0.51 0.51 0.51 0.51 0.46
Profit before tax -1.95 -3.54 -2.23 2.31 -2.15 -1.05 7.14 -1.13 -0.79 -0.53 -0.96 2.43 1.24
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%
-1.95 -3.54 -2.23 2.31 -2.15 -1.05 7.14 -1.13 -0.79 -0.53 -0.96 2.43 1.24
EPS in Rs -0.09 -0.16 -0.10 0.10 -0.39 -0.19 1.30 -0.05 -0.04 -0.02 -0.04 0.11 0.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Sep 2012 Jun 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
125.74 68.14 83.85 150.43 206.75 217.93 158.62 4.84 1.86 1.09 31.14 5.89 11.72
96.26 62.56 81.14 138.94 162.82 215.63 162.89 24.54 18.95 2.73 25.46 5.10 8.57
Operating Profit 29.48 5.58 2.71 11.49 43.93 2.30 -4.27 -19.70 -17.09 -1.64 5.68 0.79 3.15
OPM % 23.45% 8.19% 3.23% 7.64% 21.25% 1.06% -2.69% -407.02% -918.82% -150.46% 18.24% 13.41% 26.88%
-61.13 3.54 -52.50 3.11 -192.81 2.15 -95.02 0.38 1.00 3.14 1.19 1.91 1.84
Interest 25.44 12.12 8.64 6.51 0.47 28.52 24.42 0.49 0.32 0.09 1.45 0.51 0.82
Depreciation 7.64 4.48 4.45 7.67 7.51 7.81 7.75 7.66 7.53 6.82 2.61 2.04 1.99
Profit before tax -64.73 -7.48 -62.88 0.42 -156.86 -31.88 -131.46 -27.47 -23.94 -5.41 2.81 0.15 2.18
Tax % 2.46% -98.80% 29.28% -423.81% 29.31% -9.10% -45.53% 0.00% 0.00% 0.00% 0.00% 0.00%
-63.13 -14.87 -44.47 2.20 -110.89 -34.78 -191.32 -27.48 -23.94 -5.41 2.81 0.15 2.18
EPS in Rs -6.16 -1.45 -4.34 0.18 -6.67 -1.58 -8.69 -1.25 -1.09 -0.25 0.13 0.01 0.11
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -26%
5 Years: -48%
3 Years: 47%
TTM: -63%
Compounded Profit Growth
10 Years: -31%
5 Years: 15%
3 Years: 26%
TTM: -48%
Stock Price CAGR
10 Years: 29%
5 Years: 75%
3 Years: 262%
1 Year: 126%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Sep 2012 Jun 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
20.50 20.50 20.50 23.78 33.23 44.05 44.05 44.05 44.05 44.05 44.29 44.29
Reserves 339.50 324.63 280.16 283.58 177.41 25.01 -186.38 -213.85 -237.79 -104.67 -42.71 -42.56
136.12 142.55 146.63 161.04 156.62 103.79 117.17 117.17 134.64 32.85 1.00 10.56
163.87 118.28 113.86 126.82 118.99 161.65 217.91 222.86 211.24 84.52 60.85 61.01
Total Liabilities 659.99 605.96 561.15 595.22 486.25 334.50 192.75 170.23 152.14 56.75 63.43 73.30
144.75 140.39 135.43 127.50 120.26 92.54 89.80 82.14 74.61 46.33 43.79 41.08
CWIP 49.12 49.12 17.24 17.24 17.24 6.65 1.83 1.83 1.83 0.00 0.00 2.78
Investments 5.54 5.54 5.54 2.29 2.29 0.00 0.00 0.00 0.00 0.00 3.33 3.33
460.58 410.91 402.94 448.19 346.46 235.31 101.12 86.26 75.70 10.42 16.31 26.11
Total Assets 659.99 605.96 561.15 595.22 486.25 334.50 192.75 170.23 152.14 56.75 63.43 73.30

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Sep 2012 Jun 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-22.70 1.34 -3.14 -31.79 -22.39 -21.66 33.05 -0.01 0.03 -146.24 -58.36 -6.47
0.25 -0.68 32.10 3.04 -0.37 -0.84 -0.04 0.08 -0.07 20.25 -0.40 -3.13
21.09 -1.88 -29.76 29.45 23.07 21.63 -33.12 -0.07 0.03 126.05 58.77 9.81
Net Cash Flow -1.36 -1.22 -0.80 0.70 0.31 -0.87 -0.11 0.00 -0.01 0.06 0.02 0.21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Sep 2012 Jun 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 334.14 598.82 384.59 266.76 166.60 57.01 77.66 1,466.03 1,866.21 1,326.06 15.12 143.15
Inventory Days 1,156.19 1,314.98 913.15 546.50 183.79 240.71 133.90 7,084.12 37,663.44 971.62 51.42 7,805.38
Days Payable 351.91 524.40 340.10 192.07 147.10 81.95 147.38 8,211.79 45,107.92 323.87 7.85 290.13
Cash Conversion Cycle 1,138.42 1,389.40 957.64 621.19 203.30 215.77 64.18 338.37 -5,578.27 1,973.80 58.69 7,658.41
Working Capital Days 817.17 1,198.70 766.87 529.61 184.63 -24.37 -395.93 -14,470.29 -40,358.01 -7,504.27 148.63 1,306.94
ROCE % 5.90% -0.08% 1.38% 9.53% -1.27% -14.71% 8.88%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
7.61% 7.61% 7.61% 7.61% 0.00% 0.00% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63%
92.39% 92.39% 92.39% 92.39% 100.00% 100.00% 25.37% 25.37% 25.37% 25.36% 25.37% 25.37%
No. of Shareholders 50,22349,74649,97749,32548,36847,50957,94161,20662,24961,42859,00557,994

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