MIRC Electronics Limited, incorporated in 1981, is an India-based company engaged in manufacturing and marketing of consumer electronics goods primarily under the brand Onida. Originally established as a private limited company by Gulu Mirchandani, Vijay Mansukhani and Sonu Mirchandani of the Onida group, the company transformed into a public limited company in 1992.
The company operates through its consumer durable products segment with product categories including televisions, air conditioners, washing machines, refrigerators, microwave ovens, dishwashers, and air coolers. MIRC Electronics markets its products across India primarily under the ONIDA brand and also has another brand, IGO, targeting rural segments.
FY 2025 Results (Year ended March 2025)
For the full year, a net loss of ₹2.30 crore was reported in the year ended March 2025, an improvement from a net loss of ₹62.21 crore during the previous year ended March 2024. Sales declined by 22.87% to ₹746.69 crore in the year ended March 2025, compared to ₹968.04 crore during the previous year ended March 2024.
Q4 FY2025 Results (Quarter ended March 2025)
The net profit for MIRC Electronics was reported at ₹1.18 crore in the quarter ended March 2025, a significant improvement from a net loss of ₹51.11 crore during the previous quarter ended March 2024. Sales declined by 32.38% to ₹200.72 crore in the quarter ended March 2025, compared to ₹296.83 crore during the previous quarter ended March 2024.
Key Financial Metrics (as of July 2025)
- Revenue (FY2025): ₹746.69 crore
- Net Loss (FY2025): ₹2.30 crore (improvement from ₹62.21 crore loss in FY2024)
- Trailing Twelve Month Revenue: ₹747 crore (as per latest data)
- Book Value per Share: ₹4.48
- Face Value: ₹1.00
Market Capitalization and Shareholding
As of the latest data, MIRC Electronics has a market cap of ₹513 crore, though this can vary across sources with some reporting it as ₹402 crore. Promoter holding stands at 53.4%, with promoter holding in MIRC Electronics Ltd having remained stable at 53.36% as of Mar 2025 compared to Jun 2024.
The company has three manufacturing plants located in Wada, Maharashtra; Lote-Parshuram, Chiplun Maharashtra; and Roorkee-II, Uttarakhand. MIRC Electronics has ventured into Electronic Manufacturing Services (EMS) for OEMs and also expanded into two new segments: Air Coolers and Dishwashers.
Since transforming into a public limited company in 1992, MIRC has been manufacturing Onida brand of colour televisions, air conditioners, washing machines, TV components, spares, and electronics tuners. The company has also established Onida Arcades retail stores across the country.
MIRC Electronics continues to innovate in the consumer electronics space. In July 2025, Onida launched an advanced Mini LED TV series featuring Quantum Dot, HDR10, Dolby Vision, and Dolby Atmos capabilities. Its television product range includes models like NEXG Google TV KY ROCK 75UIG-R and NEXG Google TV 55UIG. The company's product categories span televisions, air conditioners, washing machines, refrigerators, microwave ovens, dishwashers, and air coolers, marketed primarily under the ONIDA brand.
Recent Corporate Actions
MIRC Electronics has announced a ₹495 crore rights issue: offering 3 shares for every 14 held at ₹10 each, opening on July 14, 2025. This significant capital raising initiative demonstrates the company's commitment to strengthening its financial position and funding future growth initiatives.
Product Innovation and Development
As mentioned, the company launched its advanced Mini LED TV series in July 2025, showcasing its commitment to incorporating cutting-edge technology into its product offerings.
The company has demonstrated a poor sales growth of 4.32% over the past five years. It also has a low return on equity of -16.7% over the last 3 years and a low interest coverage ratio, indicating some financial stress in servicing its debt obligations.
Despite these challenges, the company has shown improvement in its bottom-line performance with a significant reduction in losses from ₹62.21 crore in FY2024 to ₹2.30 crore in FY2025, indicating management's efforts towards a business turnaround. The recent rights issue provides the company with additional capital to invest in growth initiatives and strengthen its market position in the competitive consumer electronics sector.
MIRC Electronics remains a significant player in India's consumer durables market, leveraging its established Onida brand recognition and diverse product portfolio that spans televisions, home appliances, and emerging segments like air coolers and dishwashers.
