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MIC Electronics Limited
(MICEL)
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Rating:47Neutral
Price Target:
₹37.00
▲(2.66% Upside)
Action:Reiterated
Date:10/08/26
The score is primarily held back by weak cash-flow history and volatile profitability despite strong revenue momentum. Technicals are bearish with the price below major moving averages and negative MACD, while valuation is pressured by loss-making earnings (negative P/E) and no stated dividend yield.
Positive Factors
Revenue Growth
Sharp revenue acceleration indicates strong demand for MICEL’s LED display and lighting offerings and provides a broader base for future operating leverage. If maintained over the next several quarters, this growth can strengthen market reach and support reinvestment in the company’s project and product capabilities.
Negative Factors
Weak Cash Conversion
Several years of negative operating and free cash flow indicate that reported business activity has not reliably translated into cash resources. This can limit internally funded growth, increase reliance on external financing, and make the company more vulnerable if cash conversion does not improve sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sharp revenue acceleration indicates strong demand for MICEL’s LED display and lighting offerings and provides a broader base for future operating leverage. If maintained over the next several quarters, this growth can strengthen market reach and support reinvestment in the company’s project and product capabilities.
Read all positive factors
MIC Electronics Limited (MICEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.18B
Dividend Yield0.93%
Average Volume (3M)47.98K
Price to Earnings (P/E)―
Beta (1Y)2.17
Revenue Growth132.73%
EPS Growth-227.63%
CountryIN
Employees90
SectorGeneral
Sector StrengthN/A
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.50
Shares Outstanding297,884,980
10 Day Avg. Volume63,413
30 Day Avg. Volume47,985
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)3.34
Price to Sales (P/S)3.79
P/FCF Ratio1.10K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MIC Electronics Limited Business Overview & Revenue Model
Company Description
MIC Electronics Limited is a global enterprise focused on the engineering, production, and marketing of LED video display technologies, alongside a variety of electronic and telecommunication apparatus. Its comprehensive product offerings include:...
How the Company Makes Money
MICEL primarily generates revenue by selling LED display and lighting products and by executing projects that involve supplying, installing, and commissioning these systems for clients. Key revenue streams typically include (1) product sales of LE...
MIC Electronics Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.23B | 1.91B | 947.64M | 545.75M | 58.92M | 449.47M |
| Gross Profit | 442.59M | 386.04M | 229.65M | 155.36M | 12.24M | 147.66M |
| EBITDA | 266.41M | 264.04M | 192.85M | 209.15M | 26.93M | 67.37M |
| Net Income | -121.69M | -126.34M | 96.94M | 618.39M | 2.44M | 29.63M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.54B | 3.14B | 1.41B | 732.94M | 750.75M |
| Cash, Cash Equivalents and Short-Term Investments | 109.55M | 109.55M | 142.41M | 8.92M | 8.00M | 1.43M |
| Total Debt | 0.00 | 441.91M | 435.70M | 116.54M | 105.60M | 78.84M |
| Total Liabilities | -2.17B | 1.37B | 914.00M | 187.97M | 131.75M | 113.01M |
| Stockholders Equity | 2.17B | 2.16B | 2.23B | 1.22B | 601.20M | 627.74M |
Cash Flow | ||||||
| Free Cash Flow | -5.59M | 6.58M | -730.18M | -97.42M | -87.10M | -658.60M |
| Operating Cash Flow | 3.24M | 32.73M | -486.65M | -97.42M | -47.60M | -575.79M |
| Investing Cash Flow | -28.64M | -25.80M | -671.93M | 155.28M | -49.70M | -86.07M |
| Financing Cash Flow | -31.66M | -70.50M | 1.22B | -52.27M | 98.10M | 662.25M |
MIC Electronics Limited Technical Analysis
Positive
36.04
Price Trends
36.13
Positive
37.58
Negative
38.79
Negative
Market Momentum
0.43
Negative
55.64
Neutral
53.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MICEL, the sentiment is Positive. The current price of 36.04 is above the 20-day moving average (MA) of 35.83, below the 50-day MA of 36.13, and below the 200-day MA of 38.79, indicating a neutral trend. The MACD of 0.43 indicates Negative momentum. The RSI at 55.64 is Neutral, neither overbought nor oversold. The STOCH value of 53.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MICEL.
MIC Electronics Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹301.93B | 81.15 | ― | 0.10% | 53.03% | 70.86% | |
63 Neutral | ₹137.19B | 102.22 | ― | ― | 44.38% | 65.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹60.64B | 72.15 | ― | ― | -1.51% | 2.80% | |
52 Neutral | ₹153.82B | 74.29 | ― | 0.05% | 21.04% | -15.81% | |
49 Neutral | ₹58.99B | 111.45 | ― | 0.13% | -1.41% | 605.33% | |
47 Neutral | ₹11.18B | -75.11 | ― | 0.93% | 132.73% | -227.63% |
* General Sector Average
IN:MICEL
MIC Electronics Limited
37.52
-17.39
-31.67%
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MIC Electronics Limited Corporate Events
MIC Electronics Holds 38th AGM, Affirms Governance and Shareholder Engagement
Sep 16, 2026
MIC Electronics Limited convened its 38th Annual General Meeting on September 16, 2026, at its Hyderabad registered office, with 80 shareholders in attendance and quorum duly confirmed. The meeting was chaired by independent director P V Ramesh, w...
MIC Electronics Publishes Notice for 38th AGM and E-Voting in Newspapers
Aug 24, 2026
MIC Electronics Limited has notified the stock exchanges that it has published the notice of its 38th Annual General Meeting, together with details of the e-voting facility, in leading English and Telugu newspapers. The company stated that the adv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.