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Last Updated on: 30 May, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of MIRC Electronics Ltd

About the Company - MIRC Electronics Ltd

MIRC Electronics Ltd. is a Public Limited Listed company incorporated on 01/01/1981 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L32300MH1981PLC023637 and registration number is 023637. Currently Company is involved in the business activities of Manufacture of consumer electronics. Company’s Total Operating Revenue is Rs. 1192.17 Cr. and Equity Capital is Rs. 23.11 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Consumer ElectronicsOnida House, G-1, MIDC, Mumbai Maharashtra 400093investors@onida.com
http://www.onida.com
Management
NamePosition Held
Mr. Gulu L MirchandaniChairman & Managing Director
Mr. Vijay J MansukhaniManaging Director
Mr. Kaval MirchandaniWhole Time Director
Mr. Shirish SuvagiaWholeTime Director & CFO
Mr. Rafique MalikIndependent Director
Mr. Carlton PereiraIndependent Director
Mr. Arvind SharmaIndependent Director
Ms. Mohita AroraIndependent Director

Basic Stock Data of MIRC Electronics Ltd

Last Updated: May 30, 2024, 6:19 am

Market Cap 477 Cr.
Current Price 20.6
High / Low30.7/11.4
Stock P/E
Book Value 5.56
Dividend Yield0.00 %
ROCE18.7 %
ROE39.0 %
Face Value 1.00
PEG Ratio0.00

Competitors of MIRC Electronics Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Voltas Ltd 44,868 Cr. 1,3561,502/745181 1760.31 %8.50 %4.40 % 1.00
Whirlpool of India Ltd 18,736 Cr. 1,4771,733/1,18681.6 2910.33 %9.29 %6.37 % 10.0
Symphony Ltd 7,279 Cr. 1,0551,080/82048.7 1090.47 %19.0 %18.3 % 2.00
Calcom Vision Ltd 186 Cr. 138205/13192.9 55.60.00 %13.2 %9.34 % 10.0
Pulz Electronics Ltd 136 Cr. 125205/56.017.5 23.00.00 %52.4 %38.3 % 10.0
Industry Average14,241.00 Cr830.2084.34130.920.22%20.48%15.34%6.60

MIRC Electronics Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales301.42228.83174.22392.51379.07246.37345.19268.58271.47224.98183.47193.23294.51
Expenses292.85222.01175.94385.26371.03246.37341.47267.14271.21225.37186.70196.38287.80
Operating Profit8.576.82-1.727.258.04-0.003.721.440.26-0.39-3.23-3.156.71
OPM %2.84%2.98%-0.99%1.85%2.12%-0.00%1.08%0.54%0.10%-0.17%-1.76%-1.63%2.28%
Other Income9.00-0.140.594.050.34-16.770.560.261.450.172.492.810.51
Interest4.573.893.943.703.662.781.812.652.254.193.314.053.76
Depreciation1.991.301.741.982.071.982.042.072.022.912.172.041.91
Profit before tax11.011.49-6.815.622.65-21.530.43-3.02-2.56-7.32-6.22-6.431.55
Tax %-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%
Net Profit11.011.49-6.815.622.65-21.530.43-3.02-2.56-7.32-6.22-6.431.55
EPS in Rs0.480.06-0.290.240.11-0.930.02-0.13-0.11-0.32-0.27-0.280.07

Last Updated: May 7, 2024, 11:56 pm

MIRC Electronics Ltd Quarterly Chart

MIRC Electronics Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,6511,2961,2841,0587597297286446047661,1921,110873
Expenses1,6331,2901,2931,0177606956866286007521,1791,105880
Operating Profit186-940-1344217514145-7
OPM %1%0%-1%4%-0%5%6%3%1%2%1%0%-1%
Other Income-222108-2252310-1227
Interest36393833292114151215141114
Depreciation2216141412109877899
Profit before tax-42-47-603-33-1923-4-112-20-12-23
Tax %6%39%-0%77%19%-0%-0%-0%-0%-0%-0%-0%
Net Profit-39-29-601-27-1923-4-112-20-12-23
EPS in Rs-1.98-1.46-3.060.04-1.38-0.911.02-0.19-0.500.08-0.87-0.54-0.98
Dividend Payout %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

MIRC Electronics Ltd Profit & Loss Yearly Chart

MIRC Electronics Ltd Growth

Compounded Sales Growth
10 Years:-3%
5 Years:8%
3 Years:8%
TTM:-13%
Compounded Profit Growth
10 Years:0%
5 Years:%
3 Years:%
TTM:-367%
Stock Price CAGR
10 Years:16%
5 Years:-2%
3 Years:5%
1 Year:51%
Return on Equity
10 Years:-6%
5 Years:-10%
3 Years:-14%
Last Year:-39%

Last Updated: May 25, 2024, 11:53 am

MIRC Electronics Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital14141420202123232323232323
Reserves213185125147120103196192199200180168155
Borrowings15728826821219916750708085688299
Other Liabilities393238263296253226273228276357433257361
Total Liabilities777725669674592517543513577665704529639
Fixed Assets1651541521271151141061019687928781
CWIP-08-0-0-001-005000
Investments262626262623441111
Other Assets586537491521451401433408477573611440555
Total Assets777725669674592517543513577665704529639

MIRC Electronics Ltd Reserves and Borrowings Chart

MIRC Electronics Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 32235544225047-15-41524-9
Cash from Investing Activity -2-101613-15-220-138
Cash from Financing Activity -50-13-59-57-38-37-432-2-7-30-1
Net Cash Flow-201-4-7-3-23-11-67-2-2

MIRC Electronics Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days283735436363676848553129
Inventory Days848681131152141157166263202148104
Days Payable86677311712911815113819818413482
Cash Conversion Cycle2757435787857395112724652
Working Capital Days276047607163618089803942
ROCE %-0%-2%-5%7%-3%8%13%4%0%3%3%-1%

MIRC Electronics Ltd Financial Efficiency Indicators Chart

MIRC Electronics Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters53.36%53.36%53.36%53.36%53.36%53.36%53.36%53.36%53.36%53.36%53.36%53.37%
FIIs1.40%1.40%1.22%1.36%1.43%1.13%1.02%1.06%1.06%0.99%0.99%0.01%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%
Public45.24%45.24%45.41%45.28%45.20%45.52%45.62%45.58%45.58%45.66%45.64%46.62%
No. of Shareholders62,66765,45969,73471,46372,33872,44474,30872,91971,95666,62066,19375,713

MIRC Electronics Ltd Shareholding Pattern Chart

No. of MIRC Electronics Ltd Shareholders

This stock is not held by any mutual fund

MIRC Electronics Ltd ROCE Trend

MIRC Electronics Ltd EPS Trend

MIRC Electronics Ltd Key Financial Ratios

MonthMar 16Mar 15Mar 14Mar 13Mar 12
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)-0.99-0.27-4.38-2.20-2.73
Diluted EPS (Rs.)-0.99-0.27-4.38-2.20-2.73
Cash EPS (Rs.)-0.350.54-3.26-0.97-1.11
Book Value[Excl.RevalReserv]/Share (Rs.)7.007.719.0813.4615.63
Book Value[Incl.RevalReserv]/Share (Rs.)7.007.719.0813.4615.63
Revenue From Operations / Share (Rs.)39.3154.6691.8391.99118.02
PBDIT / Share (Rs.)0.012.41-0.550.471.56
PBIT / Share (Rs.)-0.621.63-1.67-0.74-0.05
PBT / Share (Rs.)-1.18-0.09-4.38-3.48-2.91
Net Profit / Share (Rs.)-0.99-0.23-4.38-2.20-2.73
NP After MI And SOA / Share (Rs.)-0.99-0.23-4.38-2.20-2.73
PBDIT Margin (%)0.034.40-0.600.511.32
PBIT Margin (%)-1.582.97-1.81-0.80-0.04
PBT Margin (%)-2.99-0.18-4.76-3.78-2.46
Net Profit Margin (%)-2.51-0.42-4.76-2.38-2.31
NP After MI And SOA Margin (%)-2.51-0.42-4.76-2.38-2.31
Return on Networth / Equity (%)-14.14-3.01-48.20-16.32-17.45
Return on Capital Employeed (%)-8.2620.70-18.00-5.43-0.32
Return On Assets (%)-3.30-0.68-9.27-4.30-4.98
Long Term Debt / Equity (X)0.050.010.020.000.06
Total Debt / Equity (X)1.441.432.110.610.62
Asset Turnover Ratio (%)1.231.591.861.721.98
Current Ratio (X)0.950.950.860.961.08
Quick Ratio (X)0.410.400.420.480.48
Inventory Turnover Ratio (X)1.061.432.041.681.95
Interest Coverage Ratio (X)0.011.40-0.200.170.62
Interest Coverage Ratio (Post Tax) (X)-0.280.86-0.610.190.05
Enterprise Value (Cr.)379.47385.24313.52176.59310.79
EV / Net Operating Revenue (X)0.490.350.240.130.18
EV / EBITDA (X)1562.278.14-39.8126.1014.00
MarketCap / Net Operating Revenue (X)0.250.170.050.070.12
Price / BV (X)1.451.240.530.480.91
Price / Net Operating Revenue (X)0.250.170.050.070.12
EarningsYield-0.09-0.02-0.90-0.33-0.19

MIRC Electronics Ltd Profitability Ratios (%)

MIRC Electronics Ltd Liquidity Ratios

MIRC Electronics Ltd Liquidity Ratios (%)

MIRC Electronics Ltd Interest Coverage Ratios (%)

MIRC Electronics Ltd Valuation Ratios

Fair Value

Fair Value: ₹33.18

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 61.05% compared to the current price ₹20.6

Default values used*: Deafault value of 15 for Stock P/E is used

Intrinsic Value: ₹30.67

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 48.91% compared to the current price ₹20.6

Default values used*: Deafault value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -7.54%

*Investments are subject to market risks

Strength and Weakness of MIRC Electronics Ltd Stock

StrengthWeakness
  1. The company has higher reserves (167.92 cr) compared to borrowings (140.38 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of 2.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 59.92, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 67.17, which may not be favorable.
  4. The company has not shown consistent growth in sales (393.00) and profit (-18.69).

FAQ

What is the latest fair value of MIRC Electronics Ltd?

The latest fair value of MIRC Electronics Ltd is ₹33.18.

What is the Market Cap of MIRC Electronics Ltd?

The Market Cap of MIRC Electronics Ltd is 477 Cr..

What is the current Stock Price of MIRC Electronics Ltd as on 30 May 2024?

The current stock price of MIRC Electronics Ltd as on 30 May 2024 is ₹20.6.

What is the High / Low of MIRC Electronics Ltd stocks in FY 2024?

In FY 2024, the High / Low of MIRC Electronics Ltd stocks is 30.7/11.4.

What is the Stock P/E of MIRC Electronics Ltd?

The Stock P/E of MIRC Electronics Ltd is .

What is the Book Value of MIRC Electronics Ltd?

The Book Value of MIRC Electronics Ltd is 5.56.

What is the Dividend Yield of MIRC Electronics Ltd?

The Dividend Yield of MIRC Electronics Ltd is 0.00 %.

What is the ROCE of MIRC Electronics Ltd?

The ROCE of MIRC Electronics Ltd is 18.7 %.

What is the ROE of MIRC Electronics Ltd?

The ROE of MIRC Electronics Ltd is 39.0 %.

What is the Face Value of MIRC Electronics Ltd?

The Face Value of MIRC Electronics Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in MIRC Electronics Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE