MIC Electronics Limited is an India-based company engaged in the design, development, and manufacturing of Light-Emitting Diode (LED) video displays and lighting products. Established in 1988, the company has grown to become one of the notable players in the LED display and lighting industry, serving diverse sectors including advertising, transportation, sports, and entertainment.
MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment, and development of Telecom software since 1988. The company has established itself as a technology-driven organization with a strong focus on innovation and quality.
The company operates through three core segments: LED Products, Medical Appliances, and Automobiles. The LED Products segment forms the core of the company's operations, encompassing a comprehensive range of display and lighting solutions. Its LED displays include:
- Indoor displays
- Outdoor displays
- Mobile displays
- Application-specific displays
The company also offers a variety of LED lighting solutions:
- Indoor lighting: area lights, down lights, tube lights, and bulbs
- Outdoor lighting: street, parking, and industrial lights
- Solar lighting: street and home lighting products
- Portable products: lanterns, home lights, and angels
MIC Electronics has achieved significant recognition in the industry:
- The company was once ranked 5th globally in true color display technology.
- SHARP (Japan) chose MIC for OEM solar-powered lanterns for its CSR activity.
- MIC also became the first and only company for a long time to receive RDSO approval for True Colour Passenger Information System (PIS) displays and railway coach lighting products.
- Forayed into the South American market in August 2008 with the supply of a perimeter display system to Barcelona Sports Club B.S.C at Guayaquil.
- Developed the first 4mm LED TV for indoor and outdoor applications in 2010.
- Launched 15 LED lighting products in five categories, installed SIMRAN-based railway passenger information display systems across 30 Indian stations, and installed 120 sq. m screens at the Parramatta Club Australia.
MIC Electronics Ltd has a market capitalization of ₹1,619 Crore as on June 06, 2025. The company's financial performance has shown mixed results in recent periods.
Recent Quarterly Financial Highlights (Q1 FY2025-26, ending June 2025):
- Revenue: ₹11.61 Crore
- Net Profit: ₹1.67 Crore
- Year-on-year sales growth of 67.69% to ₹56.46 Crore.
Trailing Twelve Months (TTM) Performance:
- Revenue: ₹95.7 Crore
- Profit: ₹9.54 Crore
Profitability Challenges:
The company's net profit fell -15.23% year-on-year to ₹1.67 Crore in Q1 FY2025-26. On a quarterly growth basis, MIC Electronics Ltd has generated a -53.22% fall in its net profits since the previous quarter.
MIC Electronics Ltd was listed on May 30, 2007. The Chairperson is Kaushik Yalamanchili. The stock trades on both NSE and BSE exchanges.
- NSE Symbol: MICEL
- BSE Code: 532850
- ISIN: INE287C01037
Key Valuation Metrics (as on May 27, 2025 / June 06, 2025):
- P/E Ratio: 145.65 (as on May 27, 2025); 164.67 times (as on June 06, 2025), representing a 222% premium to its peers' median range of 51.07 times.
- P/B Ratio: 6.4 (as on May 27, 2025); 7.27 times (as on June 06, 2025), representing a 12% premium to its peers' median range of 6.49 times.
The company has been actively securing new orders and expanding its business presence:
- Received a Letter of Acceptance worth ₹56.95 Crore from Tirumala Tirupati Devasthanam for LED display boards.
- Secured two significant orders from Indian Railways totaling ₹1.71 Crore for electronic coach indication boards and emergency lighting units, to be executed within six months.
A Promoter Holding of 66.5% indicates strong promoter confidence in the company's future prospects. The company's focus on technology innovation and expansion into new markets positions it well for future growth. With increasing demand for LED displays and energy-efficient lighting solutions, MIC Electronics is positioned to benefit from these market trends.
The company's diversified product portfolio, strong technical capabilities, and established customer base across various sectors provide a solid foundation for sustained growth. However, investors should consider the company's current valuation metrics and recent profitability challenges when making investment decisions.
