MIRC Electronics Limited (MIRCELECTR) AI Stock Analysis

• Market Cap: ₹7.88B
• Dividend Yield: N/A
• Average Volume (3M): 95.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.61
• Revenue Growth: -34.83%
• EPS Growth: 70.84%
• Country: IN
• Employees: 484
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): -0.54
• Shares Outstanding: 280,442,470
• 10 Day Avg. Volume: 110,914
• 30 Day Avg. Volume: 95,291
• PEG Ratio: 1.22
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 0.36
• P/FCF Ratio: 8.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹25.00
• Price Target Upside: -11.06% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 54 Neutral
• Price Target: ₹25.00 ▼(-11.06% Downside)

MIRC Electronics Limited's stock score is primarily influenced by its challenging financial performance, with ongoing profitability issues despite some improvements in cash flow. The strong technical indicators suggest bullish momentum, but overbought conditions warrant caution. Valuation remains a concern due to negative earnings and lack of dividends.

MIRC Electronics Limited Business Overview & Revenue Model

Company Description

MIRC Electronics Limited, operating under the brand name Onida, is an Indian consumer electronics company that specializes in manufacturing and selling a diverse range of electronic products, including televisions, washing machines, air conditioners, and kitchen appliances. Established in 1981, MIRC has carved a niche for itself in the competitive electronics market by focusing on innovative technology and quality. The company primarily serves the Indian market but has also expanded its reach to international markets, offering products that cater to various consumer needs.

How the Company Makes Money

MIRC Electronics generates revenue primarily through the sale of its consumer electronics and home appliances. The company's revenue model is based on direct sales to consumers, as well as distribution through a network of dealers and retailers across India and abroad. Key revenue streams include the sale of televisions, which remains one of the flagship product categories, along with washing machines and air conditioning units. Additionally, MIRC benefits from strategic partnerships with distributors and retailers, enhancing its market presence and sales capabilities. The company may also explore avenues such as after-sales services and warranty extensions to supplement its income. Factors contributing to its earnings include brand recognition, a reputation for quality, and the ability to adapt to changing consumer preferences and technological advancements in the electronics space.

MIRC Electronics Limited Financial Statement Overview

Summary

MIRC Electronics Limited faces ongoing profitability challenges with negative net income, despite improvements in cash flow and margins. The balance sheet shows moderate stability with prudent leverage management, but declining equity raises concerns.

Income Statement

MIRC Electronics Limited showed a decrease in total revenue over the last few years, with a sharp decline from 2024 to 2025. Gross profit margin improved in 2025, but net income remained negative, reflecting persistent profitability challenges. EBIT and EBITDA margins showed mixed results, with a notable improvement in 2025. Overall, the income statement reveals ongoing struggles with profitability despite some margin improvements.

Balance Sheet

The balance sheet indicates a relatively stable debt-to-equity ratio, suggesting prudent leverage management. However, the company's equity ratio has decreased over recent years, indicating a higher reliance on liabilities. Return on equity has been negative, reflecting consistent net losses. Overall, the balance sheet suggests moderate financial stability, but there are concerns regarding declining equity and profitability.

Cash Flow

The cash flow statement shows positive operating cash flow in 2025, a significant improvement from negative figures in previous years. Free cash flow turned positive in 2025, indicating better cash generation from operations and investments. However, the free cash flow to net income ratio remains concerning due to ongoing net losses. Overall, the cash flow statement reflects improved cash management, but profitability issues persist.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.60B	7.47B	9.67B	11.10B	11.91B	7.65B
Gross Profit	1.14B	760.66M	819.68M	1.51B	1.42B	1.21B
EBITDA	59.30M	172.46M	-391.79M	74.64M	17.82M	235.23M
Net Income	-152.30M	-23.00M	-622.08M	-124.70M	-200.71M	18.86M
Balance Sheet
Total Assets	0.00	5.28B	5.70B	5.29B	7.04B	6.65B
Cash, Cash Equivalents and Short-Term Investments	43.40M	232.10M	51.13M	124.60M	56.44M	81.32M
Total Debt	0.00	1.02B	1.04B	817.40M	683.33M	853.47M
Total Liabilities	-1.26B	4.02B	4.41B	3.38B	5.01B	4.42B
Stockholders Equity	1.26B	1.26B	1.28B	1.91B	2.03B	2.24B
Cash Flow
Free Cash Flow	0.00	299.90M	-69.64M	-92.40M	155.07M	95.01M
Operating Cash Flow	0.00	309.50M	-45.50M	-87.60M	244.83M	153.03M
Investing Cash Flow	0.00	-77.50M	-22.10M	75.00M	31.24M	-8.77M
Financing Cash Flow	0.00	-239.70M	80.01M	-5.10M	-300.95M	-71.90M

MIRC Electronics Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 28.11 is above the 20-day moving average (MA) of 26.15, above the 50-day MA of 26.49, and above the 200-day MA of 18.10, indicating a bullish trend. The MACD of 0.22 indicates Negative momentum. The RSI at 58.47 is Neutral, neither overbought nor oversold. The STOCH value of 96.65 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INCREDIBLE	74 Outperform	₹2.12B	14.52	―	―	2.61%	133.15%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
OSIAHYPER	57 Neutral	₹3.06B	14.74	―	―	13.07%	-13.26%
MIRCELECTR	54 Neutral	₹7.88B	―	―	―	-34.83%	70.84%
PRAXIS	44 Neutral	₹2.35B	―	―	―	-44.69%	47.44%

MIRC Electronics Limited Corporate Events

MIRC Electronics Expands Equity Capital with Successful Rights Issue

MIRC Electronics Limited has announced the outcome of its Rights Issue Committee meeting held on August 1, 2025. The company approved the allotment of 4,94,89,845 fully paid-up equity shares at a price of Rs. 10 per share, raising a total of Rs. 50 crores. This move increases the company’s equity share capital from Rs. 23.09 crores to Rs. 28.04 crores, potentially strengthening its financial position and providing additional resources for growth and expansion.

MIRC Electronics Completes Rs. 50 Crore Rights Issue

MIRC Electronics Limited has announced the successful allotment of 49,489,845 equity shares as part of its rights issue, raising a total of Rs. 50 crores. This move increases the company’s equity share capital significantly, positioning it to potentially enhance its market operations and strengthen its financial standing.

Onida Unveils Revolutionary Mini LED TV Series

Onida has launched its new Mini LED TV series, marking a significant advancement in its product offerings. This series utilizes thousands of ultra-small LEDs, providing superior brightness control and contrast, and is equipped with features like Quantum Dot technology, HDR10, Dolby Vision, and Dolby Atmos sound. The launch is positioned as a reinvention of television viewing in India, combining global innovations with local sensibilities to enhance the consumer experience.