Mirc Electronics Ltd (MIRCELECTR) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 500279 | NSE: MIRCELECTR | Consumer Durables - Electronics | Small Cap

MIRC Electronics Share Price

23.67 -0.43 -1.78%
as on 05-Dec'25 14:37

Mirc Electronics Ltd (MIRCELECTR) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 500279 | NSE: MIRCELECTR | Consumer Durables - Electronics | Small Cap

DeciZen - make an informed investing decision on MIRC Electronics

Based on:

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Mirc Electronics stock performance -

Key Ratios
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P/E Ratio (SA):
0.00
Market Cap:
890.2 Cr.
52-wk low:
10.3
52-wk high:
30.3

Is Mirc Electronics Ltd an attractive stock to invest in?

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 Overvalued zone.

3. Is Mirc Electronics Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Mirc Electronics Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of MIRC 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.
Mirc 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -1.2%0.4%13%3.5%0.2%5.5%-2.1%-0.6%-18.8%5.4%-
Value Creation
Index
-1.1-1.0-0.1-0.8-1.0-0.6-1.2-1.0-2.3-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7727297286446047661,1921,110968747672
Sales YoY Gr.--5.6%-0.1%-11.5%-6.2%26.7%55.7%-6.9%-12.8%-22.9%-
Adj EPS -1.1-0.11.1-0.1-0.3-0.2-0.9-0.5-2.6-0.1-0.5
YoY Gr.-NANA-113%NANANANANANA-
BVPS (₹) 6.65.48.88.78.998.27.75.254.5
Adj Net
Profit
-23.1-1.926.8-3.4-8.4-4.3-21.5-11.8-64.1-1.4-18
Cash Flow from Ops. 21.85047.2-15.1-4.215.324.5-8.8-4.530.9-
Debt/CF from Ops. 9.23.41.1-4.6-18.85.62.8-9.1-22.63.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.4%4.3%-14.4%-22.9%
Adj EPS NANANANA
BVPS-3%-10.9%-15%-2.7%
Share Price 5.8% 23.7% 16.3% 20.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-14.8-1.414.8-1.4-3.7-1.9-10.1-6-40.2-1.1-10.5
Op. Profit
Mgn %
1.24.86.62.61.51.80.60.5-4.71.2-4.1
Net Profit
Mgn %
-3-0.33.7-0.5-1.4-0.6-1.8-1.1-6.6-0.2-2.8
Debt to
Equity
1.41.40.20.30.40.40.30.40.80.80
Working Cap
Days
21019519622826124217416817122298
Cash Conv.
Cycle
898089104119605851605021

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.81

Return on Equity is Poor

Sales growth has been subdued in last 3 years -14.44%

Sales growth is not so good in last 4 quarters at -26.51%

Latest Financials - Mirc Electronics Ltd.

Standalone Consolidated
TTM EPS (₹) -0.5 -0.5
TTM Sales (₹ Cr.) 672 772
BVPS (₹.) 4.5 0
Reserves (₹ Cr.) 129 112
P/BV 5.38 0.00
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 10.30 / 30.26
All Time Low / High (₹) 1.81 / 60.03
Market Cap (₹ Cr.) 890
Equity (₹ Cr.) 36.9
Face Value (₹) 1
Industry PE 83.7

Management X-Ray of MIRC Electronics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *34.5134.5134.5134.5134.5134.5134.5134.5134.5128.42
* Pledged shares as % of Promoter's holding (%)

Valuation of MIRC Electronics - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

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Key Ratios of MIRC Electronics

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales7727297286446047661,1921,110968747
Operating Expenses 7736956866286007521,1891,1071,014739
Manufacturing Costs1391011109810749
Material Costs5785335204734576411,044960885561
Employee Cost 71727068615161666261
Other Costs 111828576715277716069
Operating Profit -134421751333-468
Operating Profit Margin (%) -0.1%4.6%5.8%2.6%0.8%1.8%0.3%0.3%-4.8%1.1%
Other Income 325432164711
Interest 29211415121514111515
Depreciation 121098778987
Exceptional Items 5-240-208-17000
Profit Before Tax -33-1923-4-112-20-12-62-2
Tax -6000000000
Profit After Tax -27-1923-4-112-20-12-62-2
PAT Margin (%) -3.5%-2.6%3.2%-0.7%-1.9%0.2%-1.7%-1.1%-6.4%-0.3%
Adjusted EPS (₹)-1.3-0.80.9-0.2-0.50.1-0.8-0.5-2.5-0.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 140124219216222224203191128125
Share Capital 20212323232323232323
Reserves 120103196192199200180168105102
Minority Interest0000000000
Debt1971654865757857517981
Long Term Debt8531813815121614
Short Term Debt1901604548616942406367
Trade Payables204173216179248324383214299264
Others Liabilities 51555953334162736459
Total Liabilities 592517543513577666705529571529

Fixed Assets

Gross Block390400364352348338351353351328
Accumulated Depreciation275286258250253252259266273256
Net Fixed Assets 115114106101968792877872
CWIP 0010050000
Investments 26234411122
Inventories241206225215329354424273238190
Trade Receivables1321251341207911510290162152
Cash Equivalents 1519241362918111523
Others Assets 62515060637567687690
Total Assets 592517543513577666705529571529

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 225047-15-41524-9-531
PBT -33-1923-4-112-20-12-62-2
Adjustment 31532517201540182822
Changes in Working Capital 1616-1-28-13-16-14308
Tax Paid 8-0-0-0-0-1-1-0-13
Cash Flow From Investing Activity 13-15-220-138-2-8
Capex 1311-12-115-711-0
Net Investments -1-260-11-1695-4-9
Others 00-01101211
Cash Flow From Financing Activity -38-37-432-2-7-30-18-24
Net Proceeds from Shares 016720000000
Net Proceeds from Borrowing 10-2-215-4-1914-06
Interest Paid -30-21-14-15-12-14-12-11-15-15
Dividend Paid 0-000000000
Others -18-30-982148-27-423-15
Net Cash Flow -3-23-11-67-2-21-1

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-17.61-14.5713.67-2.02-5.240.85-9.41-6.33-38.97-1.82
ROCE (%)-1.220.4112.973.520.175.52-2.07-0.58-18.815.37
Asset Turnover Ratio1.291.381.391.221.111.231.741.81.761.36
PAT to CFO Conversion(x)N/AN/A2.04N/AN/A7.5N/AN/AN/AN/A
Working Capital Days
Receivable Days58616472604633324777
Inventory Days11710610712516416311911596105
Payable Days10710210611814714110810297160

Mirc Electronics Ltd Stock News

Mirc Electronics Ltd FAQs

The current trading price of MIRC Electronics on 05-Dec-2025 14:37 is ₹23.67.
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 04-Dec-2025 the market cap of MIRC Electronics stood at ₹890.2.
The latest P/E ratio of MIRC Electronics as of 04-Dec-2025 is 0.00.
The latest P/B ratio of MIRC Electronics as of 04-Dec-2025 is 5.38.
The 52-week high of MIRC Electronics is ₹30.26 and the 52-week low is ₹10.30.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of MIRC Electronics is ₹671.7 ( Cr.) .

About Mirc Electronics Ltd

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

  • Television
  • Washing Machine
  • Air Conditioner
  • Microwave Ovens

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: IRC 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.
  • 2006: Ranked 2nd as per Total Income in the Consumer Durables / Domestic Appliances Sector by Dun and Bradstreet's India's Top 500 Companies 2006.
  • 2009: 'Star Performer Certificate' awarded to the Company from Urjavaran Foundation for the most Energy Efficient Air Conditioners.
  • 2012: ONIDA ranked 38th position in The Brand Trust Report, India Study 2012' and 2nd in the Sub- Category of Appliances Onida Launched Projectors in India.
  • 2013: Won an award from MICE Travel Mart Corporate Star Awards 2013 for 'Best Incentive program for Distributors/Dealers Onida ranked 27th position in the The Brand Trust Report, India Study 2013.
  • 2014: The Company was appointed as the authorised national distributor for Vivitek range of Data Projectors.
  • 2015: The Company launched the I-genius Smart Air Conditioners. This AC is based on the Internet of Things (IOT) technology and can be completely controlled from the owner’s Smart Phone through Wi-Fi.
  • 2016: Regalio Invertor AC Launched - Taking Artificial Intelligence to the next level, Introducing Smart Wi-Fi AC with Inverter technology which caters to the taste of evolving Indian consumers.
  • 2018: Launched the KY Super thunder reloaded, maximum impact maximum sound powered by Android 7.0.
  • 2018: Launched The UIC SERIES, A google certified artificial Intelligence 4k UHD TV powered by Android 8.0
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