MIC Electronics Ltd

MIC Electronics Ltd

₹ 39.5 1.67%
28 Mar - 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 875 Cr.
  • Current Price 39.5
  • High / Low 53.8 / 11.6
  • Stock P/E 109
  • Book Value 3.15
  • Dividend Yield 0.00 %
  • ROCE 8.88 %
  • ROE 9.06 %
  • Face Value 2.00

Pros

  • Debtor days have improved from 495 to 143 days.

Cons

  • Stock is trading at 12.6 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Earnings include an other income of Rs.8.52 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
0.06 0.01 0.26 3.40 26.97 0.51 1.19 0.50 1.24 2.96 7.02 7.10 17.49
0.60 -1.67 1.11 3.67 19.21 1.78 1.61 0.78 2.04 0.68 5.07 4.76 14.89
Operating Profit -0.54 1.68 -0.85 -0.27 7.76 -1.27 -0.42 -0.28 -0.80 2.28 1.95 2.34 2.60
OPM % -900.00% 16,800.00% -326.92% -7.94% 28.77% -249.02% -35.29% -56.00% -64.52% 77.03% 27.78% 32.96% 14.87%
0.03 2.35 0.01 0.05 0.30 0.83 0.24 0.36 0.54 0.77 0.17 6.76 0.82
Interest 0.01 0.02 0.66 0.18 0.27 0.03 0.10 0.10 0.19 0.11 0.42 0.44 0.36
Depreciation 1.71 1.70 0.65 0.65 0.65 0.66 0.51 0.51 0.51 0.51 0.46 0.36 0.35
Profit before tax -2.23 2.31 -2.15 -1.05 7.14 -1.13 -0.79 -0.53 -0.96 2.43 1.24 8.30 2.71
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%
-2.23 2.31 -2.15 -1.05 7.14 -1.13 -0.79 -0.53 -0.96 2.43 1.24 8.30 2.71
EPS in Rs -0.10 0.10 -0.39 -0.19 1.30 -0.05 -0.04 -0.02 -0.04 0.11 0.06 0.37 0.12
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
126 68 84 150 207 218 159 5 2 1 31 6 35
96 63 81 139 163 216 163 25 19 3 25 5 25
Operating Profit 29 6 3 11 44 2 -4 -20 -17 -2 6 1 9
OPM % 23% 8% 3% 8% 21% 1% -3% -407% -919% -150% 18% 13% 27%
-61 4 -52 3 -193 2 -95 0 1 3 1 2 9
Interest 25 12 9 7 0 29 24 0 0 0 1 1 1
Depreciation 8 4 4 8 8 8 8 8 8 7 3 2 2
Profit before tax -65 -7 -63 0 -157 -32 -131 -27 -24 -5 3 0 15
Tax % 2% -99% 29% -424% 29% -9% -46% 0% 0% 0% 0% 0%
-63 -15 -44 2 -111 -35 -191 -27 -24 -5 3 0 15
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 0.66
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -26%
5 Years: -48%
3 Years: 47%
TTM: 905%
Compounded Profit Growth
10 Years: -31%
5 Years: 15%
3 Years: 26%
TTM: 336%
Stock Price CAGR
10 Years: 30%
5 Years: 109%
3 Years: 284%
1 Year: 229%
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 Sep 2023
Equity Capital 20 20 20 24 33 44 44 44 44 44 44 44 44
Reserves 340 325 280 284 177 25 -186 -214 -238 -105 -43 -43 25
136 143 147 161 157 104 117 117 135 33 1 11 7
164 118 114 127 119 162 218 223 211 85 61 61 6
Total Liabilities 660 606 561 595 486 334 193 170 152 57 63 73 82
145 140 135 128 120 93 90 82 75 46 44 41 26
CWIP 49 49 17 17 17 7 2 2 2 0 0 3 0
Investments 6 6 6 2 2 0 0 0 0 0 3 3 3
461 411 403 448 346 235 101 86 76 10 16 26 53
Total Assets 660 606 561 595 486 334 193 170 152 57 63 73 82

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
-23 1 -3 -32 -22 -22 33 -0 0 -146 -58 -6
0 -1 32 3 -0 -1 -0 0 -0 20 -0 -3
21 -2 -30 29 23 22 -33 -0 0 126 59 10
Net Cash Flow -1 -1 -1 1 0 -1 -0 0 -0 0 0 0

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 334 599 385 267 167 57 78 1,466 1,866 1,326 15 143
Inventory Days 1,156 1,315 913 546 184 241 134 7,084 37,663 972 51 7,805
Days Payable 352 524 340 192 147 82 147 8,212 45,108 324 8 290
Cash Conversion Cycle 1,138 1,389 958 621 203 216 64 338 -5,578 1,974 59 7,658
Working Capital Days 817 1,199 767 530 185 -24 -396 -14,470 -40,358 -7,504 149 1,307
ROCE % 6% -0% 1% 10% -1% -15% 9%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
7.61% 7.61% 0.00% 0.00% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63%
92.39% 92.39% 100.00% 100.00% 25.37% 25.37% 25.37% 25.36% 25.37% 25.37% 25.38% 25.37%
No. of Shareholders 49,97749,32548,36847,50957,94161,20662,24961,42859,00557,99456,49067,404

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