MIRC Electronics Ltd

MIRCELECTR

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Market Cap

₹ 883 Cr

P/E

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

MIRC Electronics Ltd, founded in 1981, is a leading manufacturer in the consumer electronics sector, known for the Onida brand of products like televisions, air conditioners, and washing machines.

The company has significantly expanded its production capacity over the years, particularly in televisions, moving from 1.8 million to 3 million units annually.

MIRC has been an innovative pioneer, introducing the world’s first internet TV in 1998-99 and early surround-sound capable home theatre systems.

The company has focused on its core businesses by divesting non-core segments, thereby consolidating and strengthening its primary consumer electronics offerings.

MIRC has continuously broadened its product range with strategic releases, such as the Direct Cool Refrigerator launched in 2020-21.

Sector

Consumer Durables

Industry

Electronics - TV / Audio / VCR / VCP

Market Cap

883 Cr

Volatility

High Risk

P/E Ratio

—

Industry P/E

54.7

PEG Ratio

—

P/B Ratio

5.3

52W High

30.26

52W Low

10.30

Sales CAGR

-28.07%

-14.44%

4.32%

10Y

-0.99%

Profit CAGR

-324.67%

—

10Y

—

ROE

TTM

-26.26%

-17.30%

-10.92%

10Y

-7.29%

ROCE

TTM

-9.47%

-7.11%

-2.61%

10Y

0.98%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
STANLEY	224.65	1,280 Cr	39.26	2.74	0.00	6.98	7.59	3.75
BUTTERFLY	691.45	1,211 Cr	29.71	3.48	0.00	11.69	16.18	7.31
MICEL	44.68	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
MIRCELECTR	23.81	883 Cr	—	5.33	0.00	-26.26	-9.47	-3.80
ELIN	167.20	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70
PARIN	588.00	654 Cr	93.63	10.23	0.03	11.58	11.35	4.71
GSLSU	122.00	517 Cr	—	1.74	0.00	-8.77	-1.29	-4.64

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

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	183	193	295	297	228	151	167	201	141	163
Expenses	187	196	288	343	223	146	169	201	149	181
Operating Profit	-3.23	-3.15	6.71	-46	4.71	5.66	-1.79	-0.44	-8.04	-17
OPM %	-1.76	-1.63	2.28	-15.50	2.07	3.74	-1.07	-0.22	-5.71	-10.59
Other Income	2.49	2.81	0.51	0.68	0.83	1.24	2.58	6.08	0.64	22
Interest	3.31	4.05	3.76	3.93	3.29	3.88	4.48	2.95	3.47	5.23
Depreciation	2.17	2.04	1.91	1.86	1.81	1.67	1.58	1.51	1.62	1.64
Profit Before Tax	-6.22	-6.43	1.55	-51	0.44	1.35	-5.27	1.18	-12	-1.78
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-6.22	-6.43	1.55	-51	0.44	1.35	-5.27	1.18	-12	-1.78
EPS in Rs	-0.17	-0.18	0.04	-1.38	0.01	0.04	-0.14	0.03	-0.34	-0.05

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Sales	2,034	1,763	1,391	1,381	1,128	817
Expenses	1,865	1,654	1,312	1,313	1,037	775
Operating Profit	169	109	80	67	91	42
OPM %	8.31	6.20	5.72	4.88	8.06	5.08
Other Income	3.15	-2.16	2.32	1.99	10	22
Interest	19	36	39	38	34	30
Depreciation	24	23	17	16	15	12
Profit Before Tax	37	-41	-49	-62	-1.94	-23
Tax %	22.37	6.39	36.90	0.00	-136.23	15.91
Net Profit	29	-39	-31	-62	-4.58	-19
EPS in Rs	—	—	—	—	—	—
Dividend Payout %	48.78	0.00	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Equity Capital	14	14	14	14	20	20
Reserves	246	208	177	115	132	118
Borrowings	141	139	277	273	216	198
Other Liabilities	492	417	255	268	298	254
Total Liabilities	893	777	723	670	666	589
Fixed Assets	212	171	159	166	139	124
CWIP	1.52	2.73	14	0.00	0.00	0.00
Investments	0.29	0.19	0.17	0.19	0.00	0.00
Other Assets	679	604	549	504	526	465
Total Assets	893	777	723	670	666	589

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Cash from Operating Activity	32	27	25	56	43	20
Cash from Investing Activity	-0.60	-4.57	-14	-2.52	8.39	21
Cash from Financing Activity	-12	-49	-10	-58	-58	-41
Net Cash Flow	20	-27	0.74	-3.91	-7.13	-0.43

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Aug 2025	Sep 2025	Oct 2025
Promoters	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	40.51%
FIIs	1.06%	0.99%	0.99%	0.01%	0.00%	0.00%	0.07%	0.21%	0.00%	0.00%	0.03%	0.02%
DIIs	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%
Public	45.57%	45.64%	45.64%	46.61%	46.62%	46.62%	46.56%	46.42%	46.62%	46.63%	46.59%	59.45%
Total Shareholders	71,956	66,620	66,193	75,713	77,210	75,820	77,238	77,853	77,614	77,784	75,740	75,744

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Aug 14, 2025	Ishaan tradefin llp	Bulk	Buy	27.89	8.36 Cr	29,99,103	1.06
Aug 13, 2025	Sspl securities private limited	Bulk	Buy	27.55	5.00 Cr	18,15,702	0.64
Aug 13, 2025	Mansi share and stock broking...	Bulk	Sell	27.85	6.68 Cr	23,99,663	0.85
Aug 13, 2025	Mansi share and stock broking...	Bulk	Buy	29.03	6.68 Cr	23,00,016	0.82
Aug 12, 2025	Sspl securities private limited	Bulk	Buy	26.04	6.37 Cr	24,45,309	1.05
Aug 21, 2024	Suresh zunzunwala	Bulk	Sell	28.11	0.22 Cr	80,000	0.03
Aug 21, 2024	Mansi share and stock advisor...	Bulk	Sell	28.53	3.30 Cr	11,56,836	0.50
Aug 21, 2024	Suresh zunzunwala	Bulk	Buy	28.14	3.60 Cr	12,80,000	0.55
Aug 21, 2024	Laroia mona	Bulk	Buy	28.59	3.43 Cr	12,00,000	0.51
Mar 15, 2024	Mr. gulu mirchandani	Insider - Promoter & Director	Acquisition	—	—	5,36,84,390	—

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Audit Committee Update

4 days ago

Audit Committee's Views on Statutory Auditors Resignation

The Audit Committee at MIRC Electronics convened on December 11, 2025, to discuss and assess the resignation of their statutory auditors, confirming no adverse impact on financial statements.

Appointment Announcement

4 days ago

Appointment of New Statutory Auditors

The Board approved the appointment of M/s. M M Nissim & Co LLP as Statutory Auditors to fill a casual vacancy, subject to shareholder approval.

Board Meeting Outcome

4 days ago

Outcome of Board Meeting on December 11, 2025

The Board of Directors approved the appointment of M/s. M M Nissim & Co LLP as Statutory Auditors to fill a casual vacancy due to the resignation of the previous auditors.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY19

Investor Presentation

Q3 FY19

Investor Presentation

Q2 FY19

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Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
STANLEY	224.65	1,280 Cr	39.26	2.74	0.00	6.98	7.59	3.75
BUTTERFLY	691.45	1,211 Cr	29.71	3.48	0.00	11.69	16.18	7.31
MICEL	44.68	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
MIRCELECTR	23.81	883 Cr	—	5.33	0.00	-26.26	-9.47	-3.80
ELIN	167.20	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70
PARIN	588.00	654 Cr	93.63	10.23	0.03	11.58	11.35	4.71
GSLSU	122.00	517 Cr	—	1.74	0.00	-8.77	-1.29	-4.64

Overview

Detailed Summary

MIRC Electronics Ltd, founded in 1981, is a leading manufacturer in the consumer electronics sector, known for the Onida brand of products like televisions, air conditioners, and washing machines.

The company has significantly expanded its production capacity over the years, particularly in televisions, moving from 1.8 million to 3 million units annually.

MIRC has been an innovative pioneer, introducing the world’s first internet TV in 1998-99 and early surround-sound capable home theatre systems.

The company has focused on its core businesses by divesting non-core segments, thereby consolidating and strengthening its primary consumer electronics offerings.

MIRC has continuously broadened its product range with strategic releases, such as the Direct Cool Refrigerator launched in 2020-21.

Sector

Consumer Durables

Industry

Electronics - TV / Audio / VCR / VCP

Market Cap

883 Cr

Volatility

High Risk

P/E Ratio

—

Industry P/E

54.7

PEG Ratio

—

P/B Ratio

5.3

52W High

30.26

52W Low

10.30

Sales CAGR

-28.07%

-14.44%

4.32%

10Y

-0.99%

Profit CAGR

-324.67%

—

10Y

—

ROE

TTM

-26.26%

-17.30%

-10.92%

10Y

-7.29%

ROCE

TTM

-9.47%

-7.11%

-2.61%

10Y

0.98%