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MIRC Electronics Limited
(MIRCELECTR)
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Rating:40Underperform
Price Target:
₹24.50
▼(-35.73% Downside)
Action:Downgraded
Date:10/23/26
The score is driven primarily by weak financial performance (shrinking revenue, a large 2026 loss, and significant operating/free cash flow burn). Technical conditions further weigh on the score as the stock trades below all key moving averages with very weak momentum indicators. Valuation offers limited support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Established ONIDA Consumer Electronics Brand
The ONIDA brand gives MIRC Electronics an established identity in India’s consumer durables market, while its presence across televisions, air conditioners, and other appliances provides multiple product categories through which it can retain customers and pursue longer-term demand.
Negative Factors
Multi-Year Revenue Contraction
The sustained revenue decline indicates weakening scale and reduced market traction rather than a single-period fluctuation. Lower sales can dilute fixed-cost absorption, weaken bargaining power, and make it harder for MIRC Electronics to rebuild margins or invest consistently in its ONIDA portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Established ONIDA Consumer Electronics Brand
The ONIDA brand gives MIRC Electronics an established identity in India’s consumer durables market, while its presence across televisions, air conditioners, and other appliances provides multiple product categories through which it can retain customers and pursue longer-term demand.
Read all positive factors
MIRC Electronics Limited (MIRCELECTR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.61B
Dividend Yield3.86%
Average Volume (3M)50.03K
Price to Earnings (P/E)―
Beta (1Y)1.50
Revenue Growth6.34%
EPS Growth-221.02%
CountryIN
Employees484
SectorGeneral
Sector StrengthN/A
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-2.08
Shares Outstanding369,527,830
10 Day Avg. Volume45,243
30 Day Avg. Volume50,029
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)3.34
Price to Sales (P/S)1.20
P/FCF Ratio-5.81
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
MIRC Electronics Limited Business Overview & Revenue Model
Company Description
MIRC Electronics Ltd. is an Indian company dedicated to the manufacturing and marketing of consumer electronics and durables. Operating under its Onida and IGO brands, the company's diverse product range includes LED and LCD televisions, air condi...
How the Company Makes Money
MIRC Electronics Limited primarily makes money by selling ONIDA-branded consumer durable products through its distribution and retail channels. Revenue is generated from (1) product sales across key categories such as televisions and air condition...
MIRC Electronics Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.02B | 6.60B | 7.47B | 9.67B | 11.10B | 11.91B |
| Gross Profit | 277.90M | 248.80M | 1.47B | 819.68M | 1.51B | 1.42B |
| EBITDA | -558.90M | -518.60M | 172.46M | -405.24M | 74.64M | 17.82M |
| Net Income | -764.30M | -747.40M | -23.00M | -622.08M | -124.70M | -200.71M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.24B | 5.28B | 5.70B | 5.29B | 7.04B |
| Cash, Cash Equivalents and Short-Term Investments | 817.90M | 817.90M | 232.10M | 51.13M | 124.60M | 56.44M |
| Total Debt | 0.00 | 776.20M | 1.02B | 1.04B | 817.40M | 683.33M |
| Total Liabilities | -2.38B | 2.86B | 4.02B | 4.41B | 3.38B | 5.01B |
| Stockholders Equity | 2.38B | 2.38B | 1.26B | 1.28B | 1.91B | 2.03B |
Cash Flow | ||||||
| Free Cash Flow | -746.60M | -1.37B | 299.90M | -69.64M | -92.40M | 155.07M |
| Operating Cash Flow | -605.80M | -1.19B | 309.50M | -45.50M | -87.60M | 244.83M |
| Investing Cash Flow | 269.90M | -311.60M | -77.50M | -22.10M | 75.00M | 31.24M |
| Financing Cash Flow | 313.30M | 1.59B | -239.70M | 80.01M | -5.10M | -300.95M |
MIRC Electronics Limited Technical Analysis
Negative
38.12
Price Trends
32.10
Negative
35.70
Negative
34.06
Negative
Market Momentum
-2.09
Positive
29.84
Positive
22.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIRCELECTR, the sentiment is Negative. The current price of 38.12 is above the 20-day moving average (MA) of 28.28, above the 50-day MA of 32.10, and above the 200-day MA of 34.06, indicating a bearish trend. The MACD of -2.09 indicates Positive momentum. The RSI at 29.84 is Positive, neither overbought nor oversold. The STOCH value of 22.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MIRCELECTR.
MIRC Electronics Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹10.42B | 20.28 | ― | 0.44% | 11.34% | 25.77% | |
62 Neutral | ₹128.85B | -73.26 | ― | 1.50% | 12.09% | -137.18% | |
62 Neutral | ₹104.50B | 41.57 | ― | 0.61% | 6.03% | -30.48% | |
59 Neutral | ₹42.51B | 28.70 | ― | ― | 14.29% | 16.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹32.79B | -75.28 | ― | 1.05% | -4.73% | -126.31% | |
40 Underperform | ₹9.61B | -12.69 | ― | 3.86% | 6.34% | -221.02% |
* General Sector Average
IN:MIRCELECTR
MIRC Electronics Limited
25.17
-1.97
-7.26%
IN:BAJAJELEC
Bajaj Electricals Limited
267.95
-240.72
-47.32%
IN:BUTTERFLY
Butterfly Gandhimathi Appliances Limited
560.15
-198.55
-26.17%
IN:CROMPTON
Crompton Greaves Consumer Electricals Ltd.
191.95
-87.49
-31.31%
IN:IFBIND
IFB Industries Ltd
1,029.80
-838.40
-44.88%
IN:WHIRLPOOL
Whirlpool Of India Limited
813.90
-574.68
-41.39%
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.