MIRC Electronics Limited (MIRCELECTR) AI Stock Analysis

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MIRC Electronics Limited

(NSE:MIRCELECTR)

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Rating:38Underperform

Price Target:INR 24.00▼(-4.65% Downside)

Action:downgraded

Date:10/23/26

The score is driven primarily by severe financial deterioration, including persistent revenue contraction, substantial FY 2026 losses, and significant cash burn. Negative technical momentum and loss-based valuation provide no meaningful offset, resulting in an overall score near the minimum.

Positive Factors

Established ONIDA Consumer Electronics BrandThe 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 ContractionThe 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.

MIRC Electronics Limited (MIRCELECTR) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 10.79B
Dividend Yield: ―
Average Volume (3M): 47.73K
Price to Earnings (P/E): -12.2
Beta (1Y): 1.48
Revenue Growth: 6.34%
EPS Growth: -221.02%
Country: India
Employees: 484
Sector: General
Sector Strength: 55
Industry: Furnishings, Fixtures & Appliances

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 conditio...

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 conditioners...

MIRC Electronics Limited Financial Statement Overview

Summary

Financial performance is severely weak: revenue has declined for four consecutive years, FY 2026 produced a large net loss, and operating and free cash flow turned sharply negative. Lower debt and higher equity provide some balance-sheet support, but the underlying financial scores average below the permitted minimum, so the component is assigned the floor score.

Income Statement

28Negative

Balance Sheet

52Neutral

Cash Flow

24Negative

Financial statement breakdown
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	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	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

Technical Analysis SentimentNegative

Last Price25.17

Price Trends

50DMA31.89Negative

100DMA35.58Negative

200DMA34.01Negative

Market Momentum

MACD-2.06Positive

RSI26.75Positive

STOCH26.45Neutral

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 25.17 is below the 20-day moving average (MA) of 27.94, below the 50-day MA of 31.89, and below the 200-day MA of 34.01, indicating a bearish trend. The MACD of -2.06 indicates Positive momentum. The RSI at 26.75 is Positive, neither overbought nor oversold. The STOCH value of 26.45 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:MIRCELECTR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BUTTERFLY	62Neutral	INR 10.02B	19.57	―	―	11.34%	25.77%
IN:CROMPTON	62Neutral	INR 123.60B	-70.16	―	1.56%	12.09%	-137.18%
IN:WHIRLPOOL	62Neutral	INR 103.26B	41.18	―	0.61%	6.03%	-30.48%
IN:IFBIND	59Neutral	INR 41.73B	28.25	―	―	14.29%	16.62%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BAJAJELEC	53Neutral	INR 30.93B	-113.26	―	1.12%	-4.73%	-126.31%
IN:MIRCELECTR	38Underperform	INR 9.30B	-12.18	―	―	6.34%	-221.02%

* General Sector Average

Performance Comparison

IN:MIRCELECTR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:MIRCELECTR	MIRC Electronics Limited	25.17	-2.04	-7.50%
IN:BAJAJELEC	Bajaj Electricals Limited	267.95	-230.56	-46.25%
IN:BUTTERFLY	Butterfly Gandhimathi Appliances Limited	560.15	-192.65	-25.59%
IN:CROMPTON	Crompton Greaves Consumer Electricals Ltd.	191.95	-88.82	-31.63%
IN:IFBIND	IFB Industries Ltd	1029.80	-815.00	-44.18%
IN:WHIRLPOOL	Whirlpool Of India Limited	813.90	-554.35	-40.52%

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.

Date of analysis: Oct 23, 2026

MIRC Electronics Limited AI Stock Analysis

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