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 ₹ 6.72
Dividend Yield 0.00 %
ROCE -3.49 %
ROE -26.9 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 2.90 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -17.1% over past five years.
Company has a low return on equity of -25.5% over last 3 years.
Promoters have pledged 34.5% of their holding.
Debtor days have increased from 47.8 to 63.7 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

Consolidated Figures in Rs. Crores / View Standalone




Operating Profit
OPM %

Interest
Depreciation
Profit before tax
Tax %

EPS in Rs
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
	1,229	1,529	1,541	1,449	1,526	1,942	1,674	1,309	1,303	1,060	760
	1,150	1,440	1,456	1,394	1,467	1,863	1,654	1,305	1,313	1,024	762
Operating Profit	79	89	85	54	59	79	20	4	-10	37	-3
OPM %	6%	6%	6%	4%	4%	4%	1%	0%	-1%	3%	-0%
	9	7	7	5	5	2	-2	2	2	10	22
Interest	18	21	24	29	18	20	36	39	38	34	30
Depreciation	25	23	27	21	22	24	23	17	16	15	12
Profit before tax	45	52	42	9	25	37	-41	-49	-62	-2	-23
Tax %	41%	30%	15%	13%	19%	22%	-6%	-37%	0%	137%	-16%
	27	36	36	8	20	29	-39	-31	-62	-5	-19
EPS in Rs					1.02	1.48	-1.97	-1.59	-3.17	-0.23	-0.99
Dividend Payout %	40%	30%	40%	34%	67%	49%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	-17%
3 Years:	-17%
TTM:	-28%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-8%
TTM:	-232%

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

Return on Equity
10 Years:	-2%
5 Years:	-20%
3 Years:	-25%
Last Year:	-27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Equity Capital	14	14	14	7	14	14	14	14	14	20	20
Reserves	189	212	231	230	234	246	208	177	115	132	112
	170	164	200	206	134	156	159	292	274	217	200
	224	267	282	210	349	477	397	240	267	297	257
Total Liabilities	597	656	727	652	730	893	777	723	670	666	589
	221	218	201	191	221	212	171	159	166	139	124
CWIP	0	0	2	26	1	2	3	14	0	0	0
Investments	1	1	1	1	14	0	0	0	0	0	0
	375	437	523	435	494	679	604	549	504	526	465
Total Assets	597	656	727	652	730	893	777	723	670	666	589

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
	100	45	5	49	179	32	27	25	56	43	20
	-24	-19	-11	-37	-38	-1	-5	-14	-3	8	21
	-60	-46	10	-22	-117	-12	-49	-10	-58	-58	-41
Net Cash Flow	16	-20	4	-10	24	20	-27	1	-4	-7	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Debtor Days	34	26	32	28	22	32	29	38	36	44	64
Inventory Days	73	74	93	70	79	86	85	87	82	131	152
Days Payable	50	42	50	33	73	91	85	66	74	116	129
Cash Conversion Cycle	57	58	76	65	28	27	29	59	44	59	87
Working Capital Days	40	42	57	65	30	21	29	61	47	60	74
ROCE %		19%	16%	9%	10%	14%	-0%	-2%	-6%	6%	-3%

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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