MIC Electronics Ltd

MICEL

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Market Cap

₹ 1,077 Cr

P/E

111.70

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

MIC Electronics Limited (MICEL) is a leader in designing and manufacturing LED displays, telecom equipment, and software solutions, catering to global markets.

It made an impactful entry by supplying multi-colour LED displays for Indian Railways and gaining R&D recognition from the Ministry of Science & Technology.

The company's expansion into telecom software and exports began in 1994, enhancing its international footprint.

Notable achievements include developing the world's first 4mm LED TV and receiving a national award for best R&D in electronics.

Strategic acquisitions and sustained innovation have reinforced its position in LED and telecommunication sectors.

Sector

Consumer Durables

Industry

Electronics - Others

Market Cap

1,077 Cr

Volatility

High Risk

P/E Ratio

111.7

Industry P/E

53.0

PEG Ratio

2.3

P/B Ratio

4.7

52W High

91.00

52W Low

41.80

Sales CAGR

73.65%

28.23%

119.53%

10Y

-9.25%

Profit CAGR

-84.10%

48.30%

—

10Y

—

ROE

TTM

4.19%

17.61%

14.57%

10Y

-62.34%

ROCE

TTM

6.76%

8.99%

7.20%

10Y

-45.26%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AIMTRON	803.55	1,640 Cr	63.98	10.58	0.00	17.45	23.36	13.36
VINYAS	1171.00	1,479 Cr	76.16	10.06	0.00	10.12	12.89	5.34
MICEL	44.34	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
CWD	1940.05	885 Cr	352.63	10.00	0.00	8.09	8.96	4.62
ELIN	163.25	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70
SPICELEC	151.45	713 Cr	—	331.28	0.00	-360.82	-11.69	-25.67
SAHASRA	275.95	707 Cr	257.05	3.19	0.00	0.32	3.15	0.45

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	8.26	10	17	23	11	27	12	45	12	38
Expenses	6.16	7.32	15	18	8.12	24	8.30	36	7.50	34
Operating Profit	2.10	2.99	2.60	5.41	2.59	3.64	3.45	8.37	4.11	3.81
OPM %	25.42	29.00	14.87	23.56	24.18	13.26	29.36	18.66	35.40	10.06
Other Income	0.22	0.16	0.82	0.86	0.22	0.23	0.49	0.31	0.14	0.53
Interest	0.54	0.48	0.35	0.42	0.46	1.35	1.38	1.42	1.67	1.26
Depreciation	0.55	0.38	0.35	0.37	0.39	0.39	0.39	0.44	0.91	0.91
Profit Before Tax	1.23	2.29	2.71	5.48	1.97	2.13	2.17	6.81	1.67	2.17
Tax %	-0.81	4.80	0.00	-804.93	0.00	0.00	0.00	47.58	0.00	0.00
Net Profit	1.24	2.18	2.71	50	1.97	2.13	2.17	3.57	1.67	2.17
EPS in Rs	0.06	0.04	0.11	2.06	0.08	0.09	0.09	0.14	0.07	0.09

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	251	164	4.84	1.86	1.09	45	23	55	95	96
Expenses	229	163	25	19	2.74	39	21	42	77	76
Operating Profit	22	1.23	-20	-17	-1.65	6.37	1.48	12	18	20
OPM %	8.84	0.75	-416.39	-926.37	-151.09	14.18	6.48	22.55	19.04	20.46
Other Income	2.15	-95	0.38	1.00	3.14	1.31	1.94	8.61	1.24	1.17
Interest	29	24	0.06	0.20	0.09	1.73	0.79	1.64	4.61	5.82
Depreciation	7.81	7.75	7.66	7.53	6.82	2.91	2.37	1.54	1.61	2.13
Profit Before Tax	-32	-132	-27	-24	-5.42	3.03	0.26	18	13	13
Tax %	-9.05	-45.52	0.00	0.00	0.00	0.60	-0.15	-248.71	24.77	25.35
Net Profit	-35	-191	-27	-24	-5.42	3.01	0.26	62	9.83	9.54
EPS in Rs	-1.60	-6.97	-1.01	-0.95	-0.23	0.13	0.01	2.26	0.40	0.39
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	33	44	44	44	44	44	44	44	44	48
Reserves	198	69	-121	-148	-172	-39	18	19	78	174
Borrowings	108	48	15	15	14	28	7.15	16	12	44
Other Liabilities	147	181	263	268	274	32	5.15	8.22	7.19	48
Total Liabilities	486	342	200	178	161	65	75	87	141	314
Fixed Assets	120	93	90	82	75	46	47	43	26	47
CWIP	17	6.65	1.83	1.83	1.83	0.00	4.62	9.85	0.10	1.87
Investments	6.79	6.67	6.70	7.12	7.75	7.52	0.00	0.00	0.00	0.00
Other Assets	341	236	102	87	76	11	23	34	115	265
Total Assets	486	342	200	178	161	65	75	87	141	314

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-22	-22	33	0.42	0.66	-146	-58	-4.61	-13	-49
Cash from Investing Activity	-0.73	-0.72	-0.06	-0.34	-0.70	20	-8.61	-4.97	19	-67
Cash from Financing Activity	23	22	-33	-0.07	0.03	126	66	9.81	-5.23	122
Net Cash Flow	0.29	-0.88	-0.12	-0.00	-0.01	0.05	0.04	0.23	0.56	5.75

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	74.63%	74.63%	74.63%	74.63%	74.63%	74.59%	67.51%	66.46%	66.46%	66.48%	62.06%	58.01%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.38%	4.77%	4.16%	3.80%	3.13%	0.16%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	25.37%	25.37%	25.37%	25.37%	25.37%	25.41%	24.11%	28.77%	29.38%	29.72%	34.81%	41.83%
Total Shareholders	61,428	59,005	57,994	56,490	67,404	87,335	1,06,932	1,70,707	1,80,238	1,85,677	1,89,600	2,40,201

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 24, 2025	Hrti private limited	Bulk	Buy	63.26	9.03 Cr	14,27,177	0.59
Sep 24, 2025	Mathisys advisors llp	Bulk	Buy	64.09	8.90 Cr	13,88,338	0.57
Sep 24, 2025	Qe securities llp	Bulk	Buy	64.05	7.76 Cr	12,11,885	0.50
Sep 24, 2025	R r k enterprise private limited	Bulk	Sell	62.73	9.41 Cr	15,00,000	0.62
Sep 24, 2025	Mathisys advisors llp	Bulk	Sell	63.77	8.90 Cr	13,96,265	0.57
Sep 24, 2025	Qe securities llp	Bulk	Sell	63.80	6.86 Cr	10,75,911	0.44
Sep 24, 2025	Hrti private limited	Bulk	Sell	63.99	8.48 Cr	13,24,607	0.54
Sep 23, 2025	Irage broking services llp	Bulk	Buy	66.61	8.40 Cr	12,61,529	0.52
Sep 23, 2025	Qe securities llp	Bulk	Buy	66.47	17.76 Cr	26,71,221	1.10
Sep 23, 2025	Mathisys advisors llp	Bulk	Buy	66.81	18.30 Cr	27,38,672	1.13

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

4 days ago

Analyst/Investor Meet Scheduled

MIC Electronics Limited will participate in scheduled Analyst/Investor meetings on December 17 and 18, 2025, organized by IDBI Capital Markets.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Bearish

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Bullish

Overall

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Moving Averages

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	8.26	10	17	23	11	27	12	45	12	38
Expenses	6.16	7.32	15	18	8.12	24	8.30	36	7.50	34
Operating Profit	2.10	2.99	2.60	5.41	2.59	3.64	3.45	8.37	4.11	3.81
OPM %	25.42	29.00	14.87	23.56	24.18	13.26	29.36	18.66	35.40	10.06
Other Income	0.22	0.16	0.82	0.86	0.22	0.23	0.49	0.31	0.14	0.53
Interest	0.54	0.48	0.35	0.42	0.46	1.35	1.38	1.42	1.67	1.26
Depreciation	0.55	0.38	0.35	0.37	0.39	0.39	0.39	0.44	0.91	0.91
Profit Before Tax	1.23	2.29	2.71	5.48	1.97	2.13	2.17	6.81	1.67	2.17
Tax %	-0.81	4.80	0.00	-804.93	0.00	0.00	0.00	47.58	0.00	0.00
Net Profit	1.24	2.18	2.71	50	1.97	2.13	2.17	3.57	1.67	2.17
EPS in Rs	0.06	0.04	0.11	2.06	0.08	0.09	0.09	0.14	0.07	0.09

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	251	164	4.84	1.86	1.09	45	23	55	95	96
Expenses	229	163	25	19	2.74	39	21	42	77	76
Operating Profit	22	1.23	-20	-17	-1.65	6.37	1.48	12	18	20
OPM %	8.84	0.75	-416.39	-926.37	-151.09	14.18	6.48	22.55	19.04	20.46
Other Income	2.15	-95	0.38	1.00	3.14	1.31	1.94	8.61	1.24	1.17
Interest	29	24	0.06	0.20	0.09	1.73	0.79	1.64	4.61	5.82
Depreciation	7.81	7.75	7.66	7.53	6.82	2.91	2.37	1.54	1.61	2.13
Profit Before Tax	-32	-132	-27	-24	-5.42	3.03	0.26	18	13	13
Tax %	-9.05	-45.52	0.00	0.00	0.00	0.60	-0.15	-248.71	24.77	25.35
Net Profit	-35	-191	-27	-24	-5.42	3.01	0.26	62	9.83	9.54
EPS in Rs	-1.60	-6.97	-1.01	-0.95	-0.23	0.13	0.01	2.26	0.40	0.39
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	33	44	44	44	44	44	44	44	44	48
Reserves	198	69	-121	-148	-172	-39	18	19	78	174
Borrowings	108	48	15	15	14	28	7.15	16	12	44
Other Liabilities	147	181	263	268	274	32	5.15	8.22	7.19	48
Total Liabilities	486	342	200	178	161	65	75	87	141	314
Fixed Assets	120	93	90	82	75	46	47	43	26	47
CWIP	17	6.65	1.83	1.83	1.83	0.00	4.62	9.85	0.10	1.87
Investments	6.79	6.67	6.70	7.12	7.75	7.52	0.00	0.00	0.00	0.00
Other Assets	341	236	102	87	76	11	23	34	115	265
Total Assets	486	342	200	178	161	65	75	87	141	314

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-22	-22	33	0.42	0.66	-146	-58	-4.61	-13	-49
Cash from Investing Activity	-0.73	-0.72	-0.06	-0.34	-0.70	20	-8.61	-4.97	19	-67
Cash from Financing Activity	23	22	-33	-0.07	0.03	126	66	9.81	-5.23	122
Net Cash Flow	0.29	-0.88	-0.12	-0.00	-0.01	0.05	0.04	0.23	0.56	5.75

Overview

Detailed Summary

MIC Electronics Limited (MICEL) is a leader in designing and manufacturing LED displays, telecom equipment, and software solutions, catering to global markets.

It made an impactful entry by supplying multi-colour LED displays for Indian Railways and gaining R&D recognition from the Ministry of Science & Technology.

The company's expansion into telecom software and exports began in 1994, enhancing its international footprint.

Notable achievements include developing the world's first 4mm LED TV and receiving a national award for best R&D in electronics.

Strategic acquisitions and sustained innovation have reinforced its position in LED and telecommunication sectors.

Sector

Consumer Durables

Industry

Electronics - Others

Market Cap

1,077 Cr

Volatility

High Risk

P/E Ratio

111.7

Industry P/E

53.0

PEG Ratio

2.3

P/B Ratio

4.7

52W High

91.00

52W Low

41.80

Sales CAGR

73.65%

28.23%

119.53%

10Y

-9.25%

Profit CAGR

-84.10%

48.30%

—

10Y

—

ROE

TTM

4.19%

17.61%

14.57%

10Y

-62.34%

ROCE

TTM

6.76%

8.99%

7.20%

10Y

-45.26%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AIMTRON	803.55	1,640 Cr	63.98	10.58	0.00	17.45	23.36	13.36
VINYAS	1171.00	1,479 Cr	76.16	10.06	0.00	10.12	12.89	5.34
MICEL	44.34	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
CWD	1940.05	885 Cr	352.63	10.00	0.00	8.09	8.96	4.62
ELIN	163.25	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70
SPICELEC	151.45	713 Cr	—	331.28	0.00	-360.82	-11.69	-25.67
SAHASRA	275.95	707 Cr	257.05	3.19	0.00	0.32	3.15	0.45