MIRC Electronics Ltd

MIRC Electronics Ltd

₹ 22.0 4.96%
24 Apr 1:52 p.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

  • Market Cap 508 Cr.
  • Current Price 22.0
  • High / Low 30.7 / 11.4
  • Stock P/E
  • Book Value 7.72
  • Dividend Yield 0.00 %
  • ROCE -0.89 %
  • ROE -6.77 %
  • Face Value 1.00

Pros

  • Debtor days have improved from 38.5 to 29.4 days.
  • Company's working capital requirements have reduced from 53.7 days to 41.9 days

Cons

  • Stock is trading at 2.84 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -4.11% over last 3 years.
  • Promoters have pledged 34.5% of their holding.
  • Earnings include an other income of Rs.5.98 Cr.

* 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
301.42 228.83 174.22 392.51 379.07 246.37 345.19 268.58 271.47 224.98 183.47 193.23 294.51
292.85 222.01 175.94 385.26 371.03 246.37 341.47 267.14 271.21 225.37 186.70 196.38 287.80
Operating Profit 8.57 6.82 -1.72 7.25 8.04 -0.00 3.72 1.44 0.26 -0.39 -3.23 -3.15 6.71
OPM % 2.84% 2.98% -0.99% 1.85% 2.12% -0.00% 1.08% 0.54% 0.10% -0.17% -1.76% -1.63% 2.28%
9.00 -0.14 0.59 4.05 0.34 -16.77 0.56 0.26 1.45 0.17 2.49 2.81 0.51
Interest 4.57 3.89 3.94 3.70 3.66 2.78 1.81 2.65 2.25 4.19 3.31 4.05 3.76
Depreciation 1.99 1.30 1.74 1.98 2.07 1.98 2.04 2.07 2.02 2.91 2.17 2.04 1.91
Profit before tax 11.01 1.49 -6.81 5.62 2.65 -21.53 0.43 -3.02 -2.56 -7.32 -6.22 -6.43 1.55
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%
11.01 1.49 -6.81 5.62 2.65 -21.53 0.43 -3.02 -2.56 -7.32 -6.22 -6.43 1.55
EPS in Rs 0.48 0.06 -0.29 0.24 0.11 -0.93 0.02 -0.13 -0.11 -0.32 -0.27 -0.28 0.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,651 1,296 1,284 1,058 759 729 728 644 604 766 1,192 1,110 896
1,633 1,290 1,293 1,017 760 695 686 628 600 752 1,179 1,105 896
Operating Profit 18 6 -9 40 -1 34 42 17 5 14 14 5 -0
OPM % 1% 0% -1% 4% -0% 5% 6% 3% 1% 2% 1% 0% -0%
-2 2 2 10 8 -22 5 2 3 10 -12 2 6
Interest 36 39 38 33 29 21 14 15 12 15 14 11 15
Depreciation 22 16 14 14 12 10 9 8 7 7 8 9 9
Profit before tax -42 -47 -60 3 -33 -19 23 -4 -11 2 -20 -12 -18
Tax % 6% 39% -0% 77% 19% -0% -0% -0% -0% -0% -0% -0%
-39 -29 -60 1 -27 -19 23 -4 -11 2 -20 -12 -18
EPS in Rs -1.98 -1.46 -3.06 0.04 -1.38 -0.91 1.02 -0.19 -0.50 0.08 -0.87 -0.54 -0.80
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -2%
5 Years: 9%
3 Years: 22%
TTM: -21%
Compounded Profit Growth
10 Years: 4%
5 Years: %
3 Years: -6%
TTM: -93%
Stock Price CAGR
10 Years: 12%
5 Years: 2%
3 Years: 19%
1 Year: 52%
Return on Equity
10 Years: -6%
5 Years: -4%
3 Years: -4%
Last Year: -7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 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 14 14 14 20 20 21 23 23 23 23 23 23 23
Reserves 213 185 125 147 120 103 196 192 199 200 180 168 155
157 288 268 212 199 167 50 70 80 85 68 82 99
393 238 263 296 253 226 273 228 276 357 433 257 361
Total Liabilities 777 725 669 674 592 517 543 513 577 665 704 529 639
165 154 152 127 115 114 106 101 96 87 92 87 81
CWIP -0 8 -0 -0 -0 0 1 -0 0 5 0 0 0
Investments 26 26 26 26 26 2 3 4 4 1 1 1 1
586 537 491 521 451 401 433 408 477 573 611 440 555
Total Assets 777 725 669 674 592 517 543 513 577 665 704 529 639

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
32 23 55 44 22 50 47 -15 -4 15 24 -9
-2 -10 1 6 13 -15 -2 2 -0 -1 3 8
-50 -13 -59 -57 -38 -37 -43 2 -2 -7 -30 -1
Net Cash Flow -20 1 -4 -7 -3 -2 3 -11 -6 7 -2 -2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 28 37 35 43 63 63 67 68 48 55 31 29
Inventory Days 84 86 81 131 152 141 157 166 263 202 148 104
Days Payable 86 67 73 117 129 118 151 138 198 184 134 82
Cash Conversion Cycle 27 57 43 57 87 85 73 95 112 72 46 52
Working Capital Days 27 60 47 60 71 63 61 80 89 80 39 42
ROCE % -0% -2% -5% 7% -3% 8% 13% 4% 0% 3% 3% -1%

Shareholding Pattern

Numbers in percentages

29 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.36% 53.37%
1.40% 1.40% 1.22% 1.36% 1.43% 1.13% 1.02% 1.06% 1.06% 0.99% 0.99% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00%
45.24% 45.24% 45.41% 45.28% 45.20% 45.52% 45.62% 45.58% 45.58% 45.66% 45.64% 46.62%
No. of Shareholders 62,66765,45969,73471,46372,33872,44474,30872,91971,95666,62066,19375,713

* 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.

Click on the line-items to see the names of individual entities.

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