MIC Electronics Ltd - Stock Valuation and Financial Performance

BSE: 532850 | NSE: MICEL | Electric Equipment | Small Cap

MIC Electronics Share Price

41.16 -0.72 -1.72%
as on 19-Mar'24 11:07

DeciZen - make an informed investing decision on MIC Electronics

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

MIC Electronics stock performance -

mw4me loader
P/E Ratio (SA):
63.18
Market Cap:
927.4 Cr.
52-wk low:
11.5
52-wk high:
53.8

Is MIC Electronics Ltd an attractive stock to invest in?

1. Is MIC Electronics Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that MIC Electronics Ltd is a below average quality company.

2. Is MIC Electronics Ltd undervalued or overvalued?

The key valuation ratios of MIC Electronics Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is MIC Electronics Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of MIC Electronics Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of MIC Electronics:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
MIC Electronics Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -3.6%1.3%-19.8%-5.2%-142.5%-133.3%-841%-35.8%8.4%0.8%-
Value Creation
Index
-1.3-0.9-2.4-1.4NANANANA-0.4-1.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1171592182311594.81.91.131.15.935
Sales YoY Gr.-35.4%37.3%6.1%-31.3%-97%-61.6%-41.4%2,756.9%-81.1%-
Adj EPS -30.1-5.2-1.6-8.7-1.2-1-0.30.100.7
YoY Gr.-NA-4400%NANANANANANA-92.3%-
BVPS (₹) 3924.512.43.9-4.7-5.9-6.2-2.80.10.13.3
Adj Net
Profit
-30.41.4-85.7-35.5-191-26.3-21.5-5.42.80.115
Cash Flow from Ops. -4.2-31.8-22.4-21.733.100-146-59-8.5-
Debt/CF from Ops. -46.7-5.1-7-4.83.6-10826.44108.8-0.2-0-1.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -28.3%-48.3%46.9%-81.1%
Adj EPS NANANA-92.3%
BVPS-49.7%NANA14.3%
Share Price 28.7% 104.9% 261.7% 245.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-7.10.5-31.5-20.9-1667.92717.47.99.70.239.4
Op. Profit
Mgn %
3.17.320.21-2.3-373-730.2-150.518.213.426.5
Net Profit
Mgn %
-260.9-39.4-15.4-120.3-544.3-1155.8-496.592.442.3
Debt to
Equity
0.50.60.81.2-1.1-0.9-1-0.50.66.1-
Working Cap
Days
1,6428975573293046,93715,59914,0291451,256283
Cash Conv.
Cycle
8724762441811484,42210,7199,46750436144

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 39.40%

Sales growth is growing at healthy rate in last 3 years 46.85%

Sales growth is good in last 4 quarters at 900.20%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 6.10

Latest Financials - MIC Electronics Ltd.

Standalone Consolidated
TTM EPS (₹) 0.7 0.5
TTM Sales (₹ Cr.) 34.6 37
BVPS (₹.) 3.3 3.3
Reserves (₹ Cr.) 28 28
P/BV 12.82 12.74
PE 63.18 82.14
From the Market
52 Week Low / High (₹) 11.50 / 53.80
All Time Low / High (₹) 0.46 / 217.56
Market Cap (₹ Cr.) 927
Equity (₹ Cr.) 44.3
Face Value (₹) 2
Industry PE 77.1

Management X-Ray of MIC Electronics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.001.302.04
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of MIC Electronics

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales88159218231159521316
Operating Expenses 8514717422916325193255
Manufacturing Costs2243211010
Material Costs73128151173138311200
Employee Cost 3335542122
Other Costs 8141648181715132
Operating Profit 311442-4-20-17-261
Operating Profit Margin (%) 3.1%7.3%20.2%1.0%-2.7%-407.0%-919.0%-150.0%18.2%13.4%
Other Income 1432111312
Interest 970292400011
Depreciation 4888888732
Exceptional Items -540-1960-9600000
Profit Before Tax -630-157-32-131-27-24-530
Tax -18-2-4636000000
Profit After Tax -442-111-35-191-27-24-530
PAT Margin (%) -50.7%1.4%-51.0%-15.1%-120.0%-568.0%-1,288.0%-496.0%9.0%2.5%
Adjusted EPS (₹)-4.30.2-6.7-1.6-8.7-1.3-1.1-0.30.10.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 30130721186-103-130-135-6122
Share Capital 20243344444444444444
Reserves 28028417742-147-174-179-105-43-43
Minority Interest0000000000
Debt961161084815151428111
Long Term Debt01713370002600
Short Term Debt969995101515142111
Trade Payables68676039565859100
Others Liabilities 838846102225228214896061
Total Liabilities 547579424275193170152576373

Fixed Assets

Gross Block170170170147152152152151151149
Accumulated Depreciation35425054627077105107108
Net Fixed Assets13512712093908275464441
CWIP 1717177222003
Investments 6220000033
Inventories18219275114515050238
Trade Receivables881109434341910412
Cash Equivalents 1222221111
Others Assets1171281122615151541115
Total Assets 547579424275193170152576373

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -3-32-22-223300-146-59-9
PBT -9039-32-131-27-24-530
Adjustment 131483633881032
Changes in Working Capital 60-3817362162016-150-64-10
Tax Paid -5-2-46-3-6000-100
Cash Flow From Investing Activity 3230-1000200-1
Capex 1001-5002101
Net Investments 0300000000
Others 3200-2500-10-2
Cash Flow From Financing Activity -30292322-33001265910
Net Proceeds from Shares 0931900000260
Net Proceeds from Borrowing -3417-40000000
Interest Paid 0000000000
Dividend Paid 0000000000
Others 43-4-68-33001263210
Net Cash Flow -110-1000000
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-13.810.74-44.51-23.75N/AN/AN/AN/A08.79
ROCE (%)-11.621.53-37.15-1.13N/AN/AN/AN/A9.310.99
Asset Turnover Ratio0.150.290.450.720.70.030.010.010.520.09
PAT to CFO Conversion(x)N/A-16N/AN/AN/AN/AN/AN/A-19.67-INF
Working Capital Days
Receivable Days41522216493752,0072,8422,25631112
Inventory Days7404192151371833,7899,7628,61227344
Payable Days3451931541041258,0850010343

MIC Electronics Ltd Stock News

MIC Electronics Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of MIC Electronics on 19-Mar-2024 11:07 is ₹41.16.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 11:07 the market cap of MIC Electronics stood at ₹927.4.
The latest P/E ratio of MIC Electronics as of 19-Mar-2024 11:07 is 63.18.
The latest P/B ratio of MIC Electronics as of 19-Mar-2024 11:07 is 12.82.
The 52-week high of MIC Electronics is ₹53.80 and the 52-week low is ₹11.50.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of MIC Electronics is ₹34.57 ( Cr.) .

About MIC Electronics Ltd

MIC Electronics incorporated in 1988; is a global leader in designing, development and manufacturing of LED video displays, high-end electronic and telecommunication equipment and development of telecom software. These products are an integral part of sports stadiums, transportation hubs, digital theatres and theme parks, advertisements and public information displays.

MIC was incepted at Vijayawada, Andhra Pradesh by a group of talented professionals. Later in 1990 the company shifted its base. The company started its operation with electronic display systems. Later the company forayed into design and development of telecom products for wire line and wireless communication.

MIC has also been a pioneer in the development and implementation of a gamut of products and services in LED Displays, Telecom Software & IT services and Communication and Electronic products. It has many 'firsts' to its credit; for instance it is the first company to have the TEC approval for its indigenous telecom equipment 'Digital Loop Carrier'. MIC ventured into exports of its products and services in 1994 and began on-shore software development contracts in 2005. Its achievements are testimony to its expertise, profound market knowledge and zeal to innovate. MIC has received ISO-9001:2000 certification for its quality management system.

In international market, the company has direct presence in North American and Australian markets through its subsidiaries located at US and Australia. After acquiring InfoSTEP the company was further able to penetrate in the US markets. Globally the company’s offices are located at Sydney (Australia), Melbourne (Australia), Santaclara (California) and Seoul (Korea).

The company has clientele like Air India, BSNL, BHEL, LIC, MTNL, Indian railways, Procter & Gamble, L&T,  IDBI Bank, Reliance Industries, Maruti Udyog are among others.

Products

LED Display products- Under this company manufacture products for indoor display, outdoor display, end-to end display solutions ad applications specific displays.

LED lighting products- MIC manufactures products for street lighting, railway lighting, solar lighting, industrial and commercial lighting and domestic lighting.

ICT products- MIC manufactures various applications and solutions in area of display, telecom switch, telecom network management, computer telephony solutions, wireless telephone products and wire-line telecom equipment.

 

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