MIRC Electronics Ltd

₹ 19.5 1.83%

22 Nov - close price

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

Website BSE NSE - BE

Market Cap ₹ 450 Cr.
Current Price ₹ 19.5
High / Low ₹ 33.0 / 15.5
Stock P/E
Book Value ₹ 5.65
Dividend Yield 0.00 %
ROCE -19.9 %
ROE -40.9 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 3.45 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 8.48% over past five years.
Company has a low return on equity of -15.0% over last 3 years.
Promoters have pledged 34.5% of their holding.
Debtor days have increased from 40.6 to 61.1 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.

Peer comparison

Sector: Consumer Durables Industry: Electronics - Consumer

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	392.51	379.07	246.37	345.19	268.58	271.47	224.98	183.47	193.23	294.51	296.83	227.79	151.37
	385.26	371.03	246.37	341.47	267.14	271.21	225.37	186.70	196.38	287.80	342.83	223.08	145.71
Operating Profit	7.25	8.04	0.00	3.72	1.44	0.26	-0.39	-3.23	-3.15	6.71	-46.00	4.71	5.66
OPM %	1.85%	2.12%	0.00%	1.08%	0.54%	0.10%	-0.17%	-1.76%	-1.63%	2.28%	-15.50%	2.07%	3.74%
	4.05	0.34	-16.77	0.56	0.26	1.45	0.17	2.49	2.81	0.51	0.68	0.83	1.24
Interest	3.70	3.66	2.78	1.81	2.65	2.25	4.19	3.31	4.05	3.76	3.93	3.29	3.88
Depreciation	1.98	2.07	1.98	2.04	2.07	2.02	2.91	2.17	2.04	1.91	1.86	1.81	1.67
Profit before tax	5.62	2.65	-21.53	0.43	-3.02	-2.56	-7.32	-6.22	-6.43	1.55	-51.11	0.44	1.35
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%
	5.62	2.65	-21.53	0.43	-3.02	-2.56	-7.32	-6.22	-6.43	1.55	-51.11	0.44	1.35
EPS in Rs	0.24	0.11	-0.93	0.02	-0.13	-0.11	-0.32	-0.27	-0.28	0.07	-2.21	0.02	0.06
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,296	1,284	1,058	759	729	728	644	604	766	1,192	1,110	968	970
	1,290	1,293	1,017	760	695	686	628	600	752	1,179	1,105	1,014	999
Operating Profit	6	-9	40	-1	34	42	17	5	14	14	5	-46	-29
OPM %	0%	-1%	4%	-0%	5%	6%	3%	1%	2%	1%	0%	-5%	-3%
	2	2	10	8	-22	5	2	3	10	-12	2	6	3
Interest	39	38	33	29	21	14	15	12	15	14	11	15	15
Depreciation	16	14	14	12	10	9	8	7	7	8	9	8	7
Profit before tax	-47	-60	3	-33	-19	23	-4	-11	2	-20	-12	-62	-48
Tax %	-39%	0%	77%	-19%	0%	0%	0%	0%	0%	0%	0%	0%
	-29	-60	1	-27	-19	23	-4	-11	2	-20	-12	-62	-48
EPS in Rs	-1.46	-3.06	0.04	-1.38	-0.91	1.02	-0.19	-0.50	0.08	-0.87	-0.54	-2.69	-2.06
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-3%
5 Years:	8%
3 Years:	8%
TTM:	11%

Compounded Profit Growth
10 Years:	-1%
5 Years:	%
3 Years:	%
TTM:	-102%

Stock Price CAGR
10 Years:	7%
5 Years:	21%
3 Years:	-7%
1 Year:	14%

Return on Equity
10 Years:	-6%
5 Years:	-10%
3 Years:	-15%
Last Year:	-41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	14	14	20	20	21	23	23	23	23	23	23	23	23
Reserves	185	125	147	120	103	196	192	199	200	180	168	105	107
	288	268	212	199	167	50	70	80	85	68	82	104	114
	238	263	296	253	226	273	228	276	357	433	257	338	308
Total Liabilities	725	669	674	592	517	543	513	577	665	704	529	570	553
	154	152	127	115	114	106	101	96	87	92	87	78	74
CWIP	8	0	0	0	0	1	0	0	5	0	0	0	0
Investments	26	26	26	26	2	3	4	4	1	1	1	2	2
	537	491	521	451	401	433	408	477	573	611	440	490	477
Total Assets	725	669	674	592	517	543	513	577	665	704	529	570	553

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	23	55	44	22	50	47	-15	-4	15	24	-9	-5
	-10	1	6	13	-15	-2	2	0	-1	3	8	-2
	-13	-59	-57	-38	-37	-43	2	-2	-7	-30	-1	8
Net Cash Flow	1	-4	-7	-3	-2	3	-11	-6	7	-2	-2	1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	37	35	43	63	63	67	68	48	55	31	29	61
Inventory Days	86	81	131	152	141	157	166	263	202	148	104	98
Days Payable	67	73	117	129	118	151	138	198	184	134	82	123
Cash Conversion Cycle	57	43	57	87	85	73	95	112	72	46	52	36
Working Capital Days	60	47	60	71	63	61	80	89	80	39	42	34
ROCE %	-2%	-5%	7%	-3%	8%	13%	4%	0%	3%	3%	-1%	-20%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.37%	53.37%	53.37%
	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%	0.00%	0.00%
	45.41%	45.28%	45.20%	45.52%	45.62%	45.58%	45.58%	45.66%	45.64%	46.62%	46.63%	46.64%
No. of Shareholders	69,734	71,463	72,338	72,444	74,308	72,919	71,956	66,620	66,193	75,713	77,210	75,820

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	57.71%	52.91%	52.91%	53.36%	53.36%	53.36%	53.36%	53.37%	53.37%
	1.62%	1.53%	1.48%	1.40%	1.40%	1.36%	1.06%	0.01%	0.00%
	0.47%	0.20%	0.08%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	40.21%	45.37%	45.53%	45.23%	45.24%	45.28%	45.58%	46.62%	46.64%
No. of Shareholders	62,419	61,772	57,323	55,341	60,211	71,463	72,919	75,713	75,820

* 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.

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MIRC Electronics Ltd

MIRC Electronics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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