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MIRC Electronics Limited
(MIRCELECTR)
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Rating:49Neutral
Price Target:
₹39.00
▲(11.36% Upside)
Action:Reiterated
Date:05/24/26
The score is held back primarily by weak financial performance, including multi-year revenue decline, sizable losses, and significant 2026 cash burn. Technicals are a positive (price above key moving averages with positive MACD), but valuation remains challenged due to loss-making earnings and no dividend data to offset risk.
Positive Factors
Brand and Market Recognition
The company’s long-standing Onida brand gives durable recognition in the Indian consumer electronics market. Strong brand equity supports distribution relationships, after-sales revenue potential and pricing resilience, enabling a base to rebuild volumes and margins over months.
Negative Factors
Multi-year Revenue Decline
Sustained top-line contraction over multiple years indicates structural loss of market share or weakened demand. Reduced scale hurts bargaining, raises per-unit fixed costs, and limits the company’s ability to invest in product refreshes or distribution, making recovery more difficult over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand and Market Recognition
The company’s long-standing Onida brand gives durable recognition in the Indian consumer electronics market. Strong brand equity supports distribution relationships, after-sales revenue potential and pricing resilience, enabling a base to rebuild volumes and margins over months.
Read all positive factors
MIRC Electronics Limited (MIRCELECTR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.51B
Dividend YieldN/A
Average Volume (3M)95.29K
Price to Earnings (P/E)―
Beta (1Y)1.51
Revenue Growth-11.61%
EPS Growth-2328.90%
CountryIN
Employees484
SectorConsumer Defensive
Sector Strength42
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-0.78
Shares Outstanding369,392,360
10 Day Avg. Volume110,914
30 Day Avg. Volume95,291
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)3.34
Price to Sales (P/S)1.20
P/FCF Ratio-5.81
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
MIRC Electronics Limited Business Overview & Revenue Model
Company Description
MIRC Electronics Ltd. is an Indian company dedicated to the manufacturing and marketing of consumer electronics and durables. Operating under its Onida and IGO brands, the company's diverse product range includes LED and LCD televisions, air condi...
How the Company Makes Money
MIRC Electronics primarily makes money by selling consumer durable products under its brand (notably Onida) into the Indian market. Revenue is generated from (1) product sales through distribution/retail channels and other business-to-business sal...
MIRC Electronics Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.72B | 6.60B | 7.47B | 9.67B | 11.10B | 11.91B |
| Gross Profit | 917.00M | 248.80M | 760.66M | 819.68M | 1.51B | 1.42B |
| EBITDA | 41.20M | -489.60M | 172.46M | -405.24M | 74.64M | 17.82M |
| Net Income | -183.60M | -747.40M | -23.00M | -622.08M | -124.70M | -200.71M |
Balance Sheet | ||||||
| Total Assets | 4.84B | 5.24B | 5.28B | 5.70B | 5.29B | 7.04B |
| Cash, Cash Equivalents and Short-Term Investments | 168.70M | 817.90M | 232.10M | 51.13M | 124.60M | 56.44M |
| Total Debt | 486.60M | 776.20M | 1.02B | 1.04B | 817.40M | 683.33M |
| Total Liabilities | 3.27B | 2.86B | 4.02B | 4.41B | 3.38B | 5.01B |
| Stockholders Equity | 1.57B | 2.38B | 1.26B | 1.28B | 1.91B | 2.03B |
Cash Flow | ||||||
| Free Cash Flow | -746.60M | -1.37B | 299.90M | -69.64M | -92.40M | 155.07M |
| Operating Cash Flow | -605.80M | -1.19B | 309.50M | -45.50M | -87.60M | 244.83M |
| Investing Cash Flow | 269.90M | -311.60M | -77.50M | -22.10M | 75.00M | 31.24M |
| Financing Cash Flow | 313.30M | 1.59B | -239.70M | 80.01M | -5.10M | -300.95M |
MIRC Electronics Limited Technical Analysis
Positive
35.02
Price Trends
38.06
Positive
33.36
Positive
30.33
Positive
Market Momentum
0.79
Negative
60.06
Neutral
86.24
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIRCELECTR, the sentiment is Positive. The current price of 35.02 is below the 20-day moving average (MA) of 39.45, below the 50-day MA of 38.06, and above the 200-day MA of 30.33, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 60.06 is Neutral, neither overbought nor oversold. The STOCH value of 86.24 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MIRCELECTR.
MIRC Electronics Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹11.77B | 25.20 | ― | ― | 9.09% | 40.29% | |
68 Neutral | ₹177.33B | -72.93 | ― | 1.16% | 2.95% | -143.51% | |
64 Neutral | ₹51.75B | 35.10 | ― | ― | 10.37% | 20.73% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
56 Neutral | ₹101.82B | 34.56 | ― | 0.53% | 1.45% | -18.18% | |
53 Neutral | ₹37.19B | -40.24 | ― | 0.62% | -7.59% | -168.03% | |
49 Neutral | ₹15.51B | -17.84 | ― | ― | -11.61% | -2328.90% |
* Consumer Defensive Sector Average
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MIRC Electronics Limited Corporate Events
MIRC Electronics Publishes Audited FY 2026 Results Extract in Newspapers
May 22, 2026
MIRC Electronics Limited has published the extract of its audited financial results for the fourth quarter and full year ended 31 March 2026 in two widely circulated newspapers, Financial Express and Navshakti, in line with Indian securities discl...
Exchange Seeks Clarification From MIRC Electronics After Sharp Share Price Move
May 11, 2026
The stock of MIRC Electronics Limited has shown significant price movement, prompting the stock exchange to seek clarification from the company to ensure investors have access to the latest relevant information. The exchange has formally written t...
MIRC Electronics Opens SEBI-Mandated Window for Legacy Physical Share Transfers
Apr 24, 2026
MIRC Electronics Limited, best known for its Onida brand, operates in the consumer electronics sector, manufacturing and marketing televisions, appliances and related electronic products for the Indian market. Its shares are listed on major Indian...
MIRC Electronics Moves to Monetise Key Properties, Assures No Job Cuts
Apr 17, 2026
MIRC Electronics’ board has approved plans to explore the redevelopment, sale or transfer of its Mumbai headquarters property, Onida House, authorising Managing Director Kaval Mirchandani to pursue the transaction subject to regulatory appro...
MIRC Electronics Confirms Dispatch and Publication of EGM Notice
Apr 8, 2026
MIRC Electronics Limited has announced that it has dispatched the notice for its upcoming Extra Ordinary General Meeting, with confirmation of this dispatch published in the Financial Express (English) and Navshakti (Marathi) newspapers. The discl...
MIRC Electronics Grants ESOPs, Plans Name Change and Calls EGM
Mar 31, 2026
MIRC Electronics has moved to strengthen leadership incentives by granting 29.5 crore stock options to Chief Executive Officer Gunjan Srivastava under its 2023 employee stock option plan, following recommendations from its Nomination and Remunerat...
MIRC Electronics Opens Special Window for Legacy Physical Share Demat and Transfers
Feb 26, 2026
MIRC Electronics has notified exchanges and shareholders about the opening of a special window to facilitate the transfer and dematerialisation of physical securities that were sold or purchased before April 1, 2019. The company has published stat...
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.