MIRC Electronics Limited (MIRCELECTR) AI Stock Analysis

• Market Cap: ₹7.49B
• Dividend Yield: N/A
• Average Volume (3M): 95.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.59
• Revenue Growth: -30.79%
• EPS Growth: 59.95%
• Country: IN
• Employees: 484
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): -0.06
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: ₹26.00 ▲(5.65% Upside)

MIRC Electronics Limited's overall stock score is primarily impacted by its challenging financial performance, with ongoing profitability issues despite some improvements in cash flow. Technical analysis indicates weak momentum, and valuation metrics are unattractive due to negative earnings and lack of dividends. The absence of earnings call data and corporate events further limits positive influences on the score.

Positive Factors

Product Innovation

The launch of the Mini LED TV series demonstrates MIRC Electronics' commitment to innovation, potentially enhancing its competitive edge and market position in the consumer electronics sector.

Equity Capital Strengthening

The successful rights issue strengthens MIRC Electronics' financial position, providing additional resources for growth and expansion, which is crucial for long-term strategic initiatives.

Improved Cash Flow

Improved cash flow management indicates better operational efficiency and financial health, enhancing the company's ability to invest in growth opportunities and manage liabilities.

Negative Factors

Profitability Challenges

Ongoing profitability issues limit the company's ability to reinvest in business operations and may hinder long-term growth prospects, affecting overall financial stability.

Declining Revenue

Declining revenue indicates potential market share loss or reduced demand, which could impact future growth and competitive positioning in the consumer electronics industry.

Decreasing Equity

A decrease in equity suggests higher reliance on liabilities, which may increase financial risk and reduce the company's ability to withstand economic downturns.

MIRC Electronics Limited Business Overview & Revenue Model

Company Description

MIRC Electronics Limited manufactures and markets electronics and consumer durables in India. It offers LED and LCD televisions, air conditioners, washing machines, microwave ovens, DVD home theatre systems, mobile phones, projector systems, LED lights, refrigerators, healthcare, air cooler, dishwashers, and LED lights under the Onida and IGO brands. The company also exports its products. MIRC Electronics Limited was incorporated in 1981 and is based in Mumbai, India.

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 despite some improvements in cash flow and margins. The company has managed leverage well, but declining equity and persistent losses are concerning. Improvements in cash flow management are promising, but achieving sustained profitability remains crucial for future stability.

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	-405.24M	74.64M	17.82M	217.24M
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: Neutral
• Last Price: 24.61
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIRCELECTR, the sentiment is Neutral. The current price of 24.61 is below the 20-day moving average (MA) of 25.74, below the 50-day MA of 26.50, and above the 200-day MA of 18.93, indicating a neutral trend. The MACD of -0.68 indicates Positive momentum. The RSI at 41.99 is Neutral, neither overbought nor oversold. The STOCH value of 43.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MIRCELECTR.

MIRC Electronics Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
INCREDIBLE	60 Neutral	₹2.05B	14.09	―	―	10.59%	82.10%
OSIAHYPER	54 Neutral	₹2.76B	13.27	―	―	7.37%	-2.12%
MIRCELECTR	48 Neutral	₹7.49B	-41.05	―	―	-30.79%	59.95%
PRAXIS	45 Neutral	₹2.25B	-3.96	―	―	-36.99%	―