MIC Electronics Ltd

MIC Electronics Ltd

₹ 53.3 0.85%
14 Jun 4:01 p.m.
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 1,180 Cr.
  • Current Price 53.3
  • High / Low 59.8 / 22.8
  • Stock P/E 243
  • Book Value 3.29
  • Dividend Yield 0.00 %
  • ROCE 1.41 %
  • ROE 0.41 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 461 to 44.9 days.

Cons

  • Stock is trading at 16.2 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Earnings include an other income of Rs.7.44 Cr.
  • Working capital days have increased from -2,354 days to 390 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
1.02 0.06 0.01 0.26 3.40 26.97 14.32 2.42 2.08 7.40 11.01 8.26 10.31
3.61 0.60 -1.67 1.11 3.67 19.21 14.58 3.16 2.60 7.07 8.60 6.16 7.31
Operating Profit -2.59 -0.54 1.68 -0.85 -0.27 7.76 -0.26 -0.74 -0.52 0.33 2.41 2.10 3.00
OPM % -253.92% -900.00% 16,800.00% -326.92% -7.94% 28.77% -1.82% -30.58% -25.00% 4.46% 21.89% 25.42% 29.10%
0.76 0.03 2.35 0.01 0.05 0.30 0.94 0.24 1.26 -0.28 0.72 0.22 6.78
Interest 0.01 0.01 0.02 0.66 0.18 0.27 0.63 0.12 0.21 0.30 0.16 0.54 0.48
Depreciation 1.70 1.71 1.70 0.65 0.65 0.65 0.96 0.62 0.54 0.67 0.54 0.55 0.38
Profit before tax -3.54 -2.23 2.31 -2.15 -1.05 7.14 -0.91 -1.24 -0.01 -0.92 2.43 1.23 8.92
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -7.69% 0.00% 0.00% 0.00% 0.00% -0.81% 1.35%
-3.54 -2.23 2.31 -2.15 -1.05 7.14 -0.98 -1.24 -0.01 -0.92 2.43 1.24 8.80
EPS in Rs -0.16 -0.10 0.10 -0.39 -0.19 1.30 -0.05 -0.06 -0.00 -0.04 0.11 0.06 0.39
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
129 76 92 150 207 218 159 5 2 1 45 23 37
98 69 88 140 163 216 163 25 19 3 38 21 29
Operating Profit 31 6 4 11 44 2 -4 -20 -17 -2 7 2 8
OPM % 24% 8% 4% 7% 21% 1% -3% -407% -919% -150% 15% 7% 21%
-61 4 -53 4 -193 2 -95 0 1 3 1 2 7
Interest 27 13 9 7 0 29 24 0 0 0 2 1 1
Depreciation 8 5 5 8 8 8 8 8 8 7 3 2 2
Profit before tax -65 -7 -63 0 -157 -32 -132 -27 -24 -5 3 0 12
Tax % 2% -102% 29% -8,900% 29% -9% -46% 0% 0% 0% 0% 0%
-63 -15 -45 2 -111 -35 -191 -27 -24 -5 3 0 12
EPS in Rs -6.19 -1.43 -4.40 0.15 -6.67 -1.58 -8.69 -1.25 -1.09 -0.25 0.14 0.01 0.52
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -16%
5 Years: -32%
3 Years: 131%
TTM: -19%
Compounded Profit Growth
10 Years: -26%
5 Years: 15%
3 Years: 26%
TTM: -2%
Stock Price CAGR
10 Years: 24%
5 Years: 129%
3 Years: 240%
1 Year: 135%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 338 324 279 282 176 32 -180 -207 -230 -97 18 19 28
142 154 158 161 157 104 117 117 135 33 8 17 13
153 122 118 126 120 163 219 224 212 85 4 8 12
Total Liabilities 653 621 576 593 486 342 200 178 161 65 75 87 97
147 150 145 128 120 93 90 82 75 46 47 43 28
CWIP 49 49 17 17 17 7 2 2 2 0 5 10 8
Investments 7 8 8 6 7 7 7 7 8 8 0 0 0
450 414 405 442 341 236 102 87 76 11 23 34 62
Total Assets 653 621 576 593 486 342 200 178 161 65 75 87 97

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 5 -1 -32 -22 -22 33 0 1 -146 -58 -5
-1 -9 32 11 0 -1 -0 -0 -1 20 -9 -5
21 3 -32 21 0 22 -33 -0 0 126 66 10
Net Cash Flow -2 -1 -0 0 -22 -1 -0 0 -0 0 0 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 296 556 359 262 167 57 78 1,466 1,866 1,326 11 45
Inventory Days 1,182 1,217 877 546 184 241 134 7,084 30,641 972 96 383
Days Payable 290 498 333 190 149 84 150 8,344 37,323 817 6 14
Cash Conversion Cycle 1,187 1,275 903 618 201 214 62 206 -4,815 1,480 101 414
Working Capital Days 817 1,103 706 528 183 -25 -397 -14,492 -40,419 -7,598 146 390
ROCE % 6% 0% 1% 10% -1% -14% 20% 1%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
7.61% 0.00% 0.00% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63% 74.63% 74.59%
92.39% 100.00% 100.00% 25.37% 25.37% 25.37% 25.36% 25.37% 25.37% 25.38% 25.37% 25.41%
No. of Shareholders 49,32548,36847,50957,94161,20662,24961,42859,00557,99456,49067,40487,335

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