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Mirc Electronics Ltd. Stock Analysis

Small Cap
Evaluated by 533 users | BSE: 500279 | NSE: MIRCELECTR |
Consumer Durables - Electronics
Mirc Electronics incorporated in 1981 is engaged in manufacturing and marketing of LCD TV, DVD and home theatres, air conditioner, washing machine, mobile phone, microwave oven and projectors and display products. The company was founded by Mr.G.L.Mirchandani and Mr.Vijay Mansukhani. Company...

Analysis of Financial Track Record

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.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 10.2%-2.57%-1.15%-5.19%5.62%-0.82%3.94%12.66%2.36%0.01%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,9131,6491,3031,2961,071772729728644604
Y-o-Y Gr. Rt.--13.8%-21%-0.5%-17.4%-27.9%-5.6%-0.1%-11.5%-6.2%
Adjusted EPS (Rs.) 1.74-2.23-2.01-3.13-0.05-1.18-0.091.16-0.15-0.36
Y-o-Y Gr. Rt.--228.2%NANANANANANA-112.9%NA
Book Value per Share (Rs.) 16.7114.2712.478.718.57.135.879.59.339.61
Adjusted Net Profit 27.7-35.5-32.1-49.9-1-23.1-1.926.8-3.4-8.4
Net Op. Cash Flow (Rs. Cr.) 30.83222.754.643.721.85047.2-15.1-4.2
Debt to Cash Flow from Ops 5.044.912.674.94.849.153.351.07-4.6-18.77
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Mirc Electronics Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -12%-10.8%-6.1%-6.2%
Adjusted EPS -183.9%NANANA
Book Value per Share -62.517.93
Share Price -6% -8.8% -46% 10.3%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 10.61-14.37-15.07-29.51-0.65-14.8-1.3714.82-1.44-3.67
Operating Profit Margin (%) 3.791.090.050.514.41.234.756.592.581.49
Net Profit Margin (%) 1.45-2.15-2.47-3.85-0.09-2.99-0.253.68-0.53-1.38
Debt to Equity 0.580.691.451.931.271.431.350.230.320.36
Working Capital Days 97123141129157210195196228261
Cash Conversion Cycle 4971685168898089104119
Entity Percentage Holding
Promoters 53.36%
Institutions 1.40%
Non-Institutions 45.24%
Pledged *34.8034.8034.8034.8034.8034.8034.5134.5134.5134.51
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Mirc Electronics Ltd.'s performance infers:

Mirc Electronics Ltd. earnings have grown by 0%, whereas share price has depreciated -8.8% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Mirc Electronics Ltd. share prices over the last 10 years. Here is what we found out:

Mirc Electronics Ltd. share price has depreciated -7.9% annually over the past ten years.

Mirc Electronics incorporated in 1981 is engaged in manufacturing and marketing of LCD TV, DVD and home theatres, air conditioner, washing machine, mobile phone, microwave oven and projectors and display products. The company was founded by Mr.G.L.Mirchandani and Mr.Vijay Mansukhani. Company markets its products under the brand name ‘ONIDA’.

Company’s manufacturing plant is located at Thane, Noida and Roorkee. Today the company has network of 33 branch offices, 208

Mirc Electronics incorporated in 1981 is engaged in manufacturing and marketing of LCD TV, DVD and home theatres, air conditioner, washing machine, mobile phone, microwave oven and projectors and display products. The company was founded by Mr.G.L.Mirchandani and Mr.Vijay Mansukhani. Company markets its products under the brand name ‘ONIDA’.

Company’s manufacturing plant is located at Thane, Noida and Roorkee. Today the company has network of 33 branch offices, 208 Customer Relation Center's and 41 depots spread across the country. Company produces single colour television in 12 seconds and has manufacturing capacity of 1.2 million sets in a year.

The company also has sales and marketing office in Dubai. Mirc Electronics exports its products to Uganda, Tanzania, Kenya and Ethiopia and SAARC countries. Company are marketed in big hypermarkets like Lu Lu Centres, Carrefours, Geants and Dasmans in GCC countries. MIRC Electronics shares are listed on the National Stock Exchanges and Bombay Stock Exchanges.

Products

  • LCD TV
  • Television
  • DVD and Home Theatres
  • Air Conditioning
  • Washing Machine
  • Mobile Phones
  • Microwave Oven
  • Projectors and Display Product

Milestones

  • 1981- MIRC Electronics was established as a private limited company.
  • 1982- Company started the production of CTV at Nand Bhavan, Mumbai.
  • 1983- The company entered into a technical collaboration with JVC, Japan for CTV.
  • 1985- Company set up an in-house R&D unit.
  • 1986- MIRC Electronics expanded its production capacity and unit was shifted to Kalina .
  • 1990- Company started the production of Tuner.
  • 1991-Akasaka, PCB plant commences its operation. Company established manufacturing plant for CTV in Vasai.
  • 1992- Company crossed 1 million CTV sales mark.
  • 1995-Company received ISO 9001 certification for its quality management.
  • 1998-Company was awarded for excellence in electronics by ministry of IT.
  • 1999-It became first company in India to develop Internet enabled CTV.
  • 2000- Company launched the KY Thunder, Profile Series. 
  • 2001-Company won AV Max award for best CTV. It launched Onida Black, flat CTV range. The same year it launched multimedia projectors. Company commenced project to increase CTV capacity to 1 million
  • 2002- It completed project of expanding capacity from 600K CTVs to 1.2 million CTV's per year. Company launched 'KY Theatre'- its first complete Home Theatre package with circle surround sound. Company launched its economy brand-'Igo'. Company also launched VCD player.
  • 2003- It launched world's first LCD remote 'i-Control'. The same year it launched air-conditioners, rear projection TV, plasma TV and DVD players and fully automatic front loading washing machines. Company started its operation in Russia.
  • 2004- Company launched its 'Oxygen Series' CTV. The same year it microwave oven.
  • 2005-Company launched its 'POISON' range of CTV's     

      

Future Plans

Mirc Electronics expects to increase its presence in their product portfolio and emerge as a leading solutions provider for electronic home improvement good. The Company has also introduced a high tech world class LCD which is considered the best in the industry.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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