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MIC Electronics Limited
(MICEL)
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Rating:47Neutral
Price Target:
₹38.00
▼(-15.18% Downside)
Action:Reiterated
Date:07/08/26
The score is primarily held back by weak technicals (price below key moving averages with negative MACD) and elevated fundamental risk from historically poor cash conversion and volatile profitability. These concerns outweigh the notable strength in revenue momentum and the improved balance-sheet leverage profile.
Positive Factors
Revenue Growth Momentum
A sustained >100% revenue increase indicates meaningful market traction and expanding project wins. Durable top-line momentum can drive scale advantages, improve fixed-cost absorption, and create a larger base for recurring AMC and service revenues, supporting medium-term cash generation.
Negative Factors
Weak Historical Cash Conversion
Multi-year negative operating and free cash flow indicates earnings have not historically translated into cash, straining working capital and limiting self-funding for capex or contract-backed growth. The recent small positive turn is encouraging but not yet proven durable.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
A sustained >100% revenue increase indicates meaningful market traction and expanding project wins. Durable top-line momentum can drive scale advantages, improve fixed-cost absorption, and create a larger base for recurring AMC and service revenues, supporting medium-term cash generation.
Read all positive factors
MIC Electronics Limited (MICEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.01B
Dividend YieldN/A
Average Volume (3M)2.79M
Price to Earnings (P/E)―
Beta (1Y)2.43
Revenue Growth101.05%
EPS Growth-228.22%
CountryIN
Employees82
SectorGeneral
Sector StrengthN/A
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.59
Shares Outstanding241,011,570
10 Day Avg. Volume495,336
30 Day Avg. Volume2,788,896
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)3.34
Price to Sales (P/S)3.79
P/FCF Ratio1.10K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MIC Electronics Limited Business Overview & Revenue Model
Company Description
MIC Electronics Limited is a global enterprise focused on the engineering, production, and marketing of LED video display technologies, alongside a variety of electronic and telecommunication apparatus. Its comprehensive product offerings include:...
How the Company Makes Money
MICEL makes money mainly by selling and executing LED display and electronic signage projects. Key revenue streams generally include: (1) product/system sales of LED display boards and associated hardware (such as controllers, power systems, and c...
MIC Electronics Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.91B | 947.64M | 545.75M | 58.92M | 449.47M |
| Gross Profit | 386.04M | 229.65M | 155.36M | 78.70M | 85.57M |
| EBITDA | 264.04M | 192.85M | 209.15M | 26.93M | 76.79M |
| Net Income | -126.34M | 96.94M | 618.39M | 2.44M | 29.63M |
Balance Sheet | |||||
| Total Assets | 3.54B | 3.14B | 1.41B | 874.00M | 750.75M |
| Cash, Cash Equivalents and Short-Term Investments | 109.55M | 142.41M | 8.92M | 8.00M | 1.43M |
| Total Debt | 441.91M | 435.70M | 116.54M | 161.60M | 78.84M |
| Total Liabilities | 1.37B | 914.00M | 187.97M | 233.80M | 113.01M |
| Stockholders Equity | 2.16B | 2.23B | 1.22B | 601.20M | 627.74M |
Cash Flow | |||||
| Free Cash Flow | 6.58M | -730.18M | -97.42M | -87.10M | -658.60M |
| Operating Cash Flow | 32.73M | -486.65M | -97.42M | -47.60M | -575.79M |
| Investing Cash Flow | -25.80M | -671.93M | 155.28M | -49.70M | -86.07M |
| Financing Cash Flow | -70.50M | 1.22B | -52.27M | 98.10M | 662.25M |
MIC Electronics Limited Technical Analysis
Negative
44.80
Price Trends
42.95
Negative
40.15
Negative
44.04
Negative
Market Momentum
-1.48
Positive
33.90
Neutral
23.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MICEL, the sentiment is Negative. The current price of 44.8 is above the 20-day moving average (MA) of 39.99, above the 50-day MA of 42.95, and above the 200-day MA of 44.04, indicating a bearish trend. The MACD of -1.48 indicates Positive momentum. The RSI at 33.90 is Neutral, neither overbought nor oversold. The STOCH value of 23.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MICEL.
MIC Electronics Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹273.59B | 83.36 | ― | 0.20% | 27.28% | 76.63% | |
61 Neutral | ₹42.20B | 58.28 | ― | ― | -16.99% | 7.58% | |
57 Neutral | ₹116.85B | 99.16 | ― | ― | 45.99% | 76.41% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹171.32B | 86.67 | ― | 0.08% | 8.59% | -34.34% | |
53 Neutral | ₹53.45B | -115.44 | ― | 0.25% | 6.93% | -2481.56% | |
47 Neutral | ₹9.01B | -90.24 | ― | ― | 101.05% | -228.22% |
* General Sector Average
IN:MICEL
MIC Electronics Limited
38.65
-16.55
-29.98%
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MIC Electronics Limited Corporate Events
MIC Electronics Issues Corrigendum on EGM Notice for Neo Semi Share-Swap Deal
Apr 16, 2026
MIC Electronics Limited has issued a corrigendum to its earlier notice convening an Extra-Ordinary General Meeting on April 29, 2026, after receiving observations from the National Stock Exchange of India. The update, dispatched electronically to ...
MIC Electronics Wins New Indian Railways Orders Worth Over Rs 2.2 Crore
Apr 16, 2026
MIC Electronics Limited has secured a Letter of Acceptance from the Signal and Telecommunication department of the Nagpur Division in the Central Railway zone to supply, install, test, and commission telecom assets and passenger amenities IPIS at ...
MIC Electronics Publishes EGM Notice Ahead of April 29 Meeting
Apr 9, 2026
MIC Electronics Limited has announced that it published newspaper advertisements in Business Standard and Telugu Prabha giving notice of an Extra Ordinary General Meeting to be held on April 29, 2026, at its registered office at 11:45 a.m. The dis...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.