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BSE: 500279 | NSE: MIRCELECTR | Consumer Durables - Electronics | Small Cap
1. Is Mirc Electronics Ltd a good quality company?
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mirc Electronics Ltd is a below average quality company.
2. Is Mirc Electronics Ltd undervalued or overvalued?
The key valuation ratios of Mirc Electronics Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
3. Is Mirc Electronics Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mirc Electronics Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | -5.2% | 5.6% | -0.8% | 3.9% | 12.7% | 2.4% | 0% | 2% | -4% | -1.5% | - | ||
| Value Creation Index ⓘ | -1.4 | -0.6 | -1.1 | -0.7 | -0.1 | -0.8 | -1.0 | -0.9 | -1.3 | -1.1 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 1,296 | 1,071 | 772 | 729 | 728 | 644 | 604 | 766 | 1,192 | 1,110 | 949 | ||
| YoY Gr. Rt. % | - | -17.4% | -27.9% | -5.6% | -0.1% | -11.5% | -6.2% | 26.7% | 55.7% | -6.9% | - | ||
| Adj EPS ⓘ | -3.1 | -0.1 | -1.2 | -0.1 | 1.2 | -0.2 | -0.4 | -0.2 | -0.9 | -0.5 | -0.8 | ||
| YoY Gr. Rt. % | - | NA | NA | NA | NA | -112.9% | NA | NA | NA | NA | - | ||
| BVPS (₹) ⓘ | 8.7 | 8.5 | 7.1 | 5.9 | 9.5 | 9.3 | 9.6 | 9.7 | 8.8 | 8.3 | 8 | ||
| Adj Net Profit ⓘ | -49.9 | -1 | -23.1 | -1.9 | 26.8 | -3.4 | -8.4 | -4.3 | -21.5 | -11.8 | -19 | ||
| Cash Flow from Ops. ⓘ | 54.6 | 43.7 | 21.8 | 50 | 47.2 | -15.1 | -4.2 | 15.3 | 24.5 | -8.8 | - | ||
| Debt/CF from Ops. ⓘ | 4.9 | 4.8 | 9.2 | 3.4 | 1.1 | -4.6 | -18.8 | 5.6 | 2.8 | -9.1 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | -1.7% | 8.8% | 22.5% | -6.9% | ||||||||
| Adj EPS ⓘ | NA | -184.8% | NA | NA | ||||||||
| BVPSⓘ | -0.6% | -2.8% | -4.9% | -6.1% | ||||||||
| Share Price | 18.4% | -4.4% | 37.7% | 29.3% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | -29.5 | -0.7 | -14.8 | -1.4 | 14.8 | -1.4 | -3.7 | -1.9 | -10.1 | -6 | -10.2 | |
| Op. Profit Mgn % ⓘ | 0.5 | 4.4 | 1.2 | 4.8 | 6.6 | 2.6 | 1.5 | 1.8 | 0.6 | 0.5 | -0.2 | |
| Net Profit Mgn % ⓘ | -3.9 | -0.1 | -3 | -0.3 | 3.7 | -0.5 | -1.4 | -0.6 | -1.8 | -1.1 | -2 | |
| Debt to Equity ⓘ | 1.9 | 1.3 | 1.4 | 1.4 | 0.2 | 0.3 | 0.4 | 0.4 | 0.3 | 0.4 | - | |
| Working Cap Days ⓘ | 129 | 157 | 210 | 195 | 196 | 228 | 261 | 242 | 174 | 168 | 0 | |
| Cash Conv. Cycle ⓘ | 51 | 68 | 89 | 80 | 89 | 104 | 119 | 60 | 58 | 51 | 0 | |
Sales growth is growing at healthy rate in last 3 years 22.48%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -28.87%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.8 | -0.8 |
| TTM Sales (₹ Cr.) | 949 | 772 |
| BVPS (₹.) ⓘ | 8 | 0 |
| Reserves (₹ Cr.) ⓘ | 162 | 112 |
| P/BV ⓘ | 2.78 | 0.00 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 11.10 / 25.59 |
| All Time Low / High (₹) | 1.96 / 64.70 |
| Market Cap (₹ Cr.) | 513 |
| Equity (₹ Cr.) | 23.1 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 96.7 |
| Pledged * | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 | 34.51 |
Mirc Electronics Limited commenced its journey in 1981. Starting with a goal of manufacturing televisions sets, it transformed into a complete consumer durable company with a wide product portfolio including Flat panel TVs (LED LCD TVs), Air Conditioners, Washing Machines, Microwave Ovens, DVD Home Theatre systems, Mobile phones, Projector systems and LED lights. The company markets its products under the brand name ‘ONIDA’.
Onida has been an enduring brand in the Indian Consumer Durable space, and has won the trust of millions of consumers with its high quality products. Being an Indian company, the company understands the unique requirements of the Indian consumer - more than any other company does. This has found expression in so many of the innovative products that have been launched over the years. This understanding of the consumer is one of the core strengths of the company that has enabled it to compete in the market.
In the annals of Indian advertising, Onida enjoys a storied past. The advertisements that Onida brought out broke all conventions and are a defining feature of the organisation. The company created amongst the most powerful icons in advertising, the Onida Devil, and amongst the most memorable taglines, ‘Neighbour’s envy. Owner’s pride.’
With a Maverick leadership team, Onida has become a torch-bearer for consumer-centric innovations and unconventional communication. Onida has often been voted as the top most trusted consumer durable brand in India - a reflection of its continued success.
Business area of the company
The Company is engaged in the business of manufacture and marketing of consumer electronics goods primarily under the brand named ‘Onida’ and ‘IGO’. The Company has three manufacturing plants viz, Wada (Maharashtra), Lote-Parshuram, Chiplun (Maharashtra) and Roorkee-II (Uttarakhand).
Product categories
Milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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