MICEL

MIC Electronics Limited

LED products and electrical & electronics spare-parts trading business

Industrials›Capital Goods›Industrial Products›Other Industrial Products

mic.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹34.52
Market cap
1,028 Cr
Stock P/E
Loss (TTM EPS ₹-0.50)
P/B
3.85
ROE (FY26)
-5.8%
ROCE (FY26)
8.7%
Operating margin (FY26)
11.3%
Debt / equity (FY26)
0.20
OCF / EBITDA (FY26)
5.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MIC Electronics, a Hyderabad company, makes LED products and has recently started supplying passenger-information systems for Indian railway coaches.

Company snapshot

9thBy market cap

Ranked among 13 companies in Other Industrial Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 95.1% of revenue

SegmentRevenue shareRevenuePBTAssets
a) LED Products
95.1%
11 Cr3 Cr6 Cr
b) Medical and Other appliances
7.3%
0.86 Cr0.44 Cr9 Cr
c) Automobiles—0 Cr0 Cr-0.0073 Cr
d) Electrical & Electronics, Spare parts trading—0 Cr0.0001 Cr-0.0011 Cr

Shares add up to 102% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.20x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2022Mar 2023Jun 2023Sept 2023Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales7 Cr11 Cr8 Cr10 Cr27 Cr12 Cr45 Cr12 Cr38 Cr90 Cr51 Cr44 Cr
Operating expenses (approx.)7 Cr9 Cr6 Cr7 Cr24 Cr8 Cr36 Cr8 Cr34 Cr86 Cr37 Cr39 Cr
EBITDA0.33 Cr2 Cr2 Cr3 Cr4 Cr3 Cr8 Cr4 Cr4 Cr4 Cr13 Cr4 Cr
OPM %4.5%21.9%25.4%29.1%13.3%29.3%18.7%35.4%10.1%4.4%26.3%9.8%
Other income-0.28 Cr0.72 Cr0.22 Cr0.16 Cr0.23 Cr0.49 Cr0.31 Cr0.14 Cr0.53 Cr0.15 Cr0.35 Cr0.22 Cr
Interest0.30 Cr0.16 Cr0.54 Cr0.48 Cr1 Cr1 Cr1 Cr2 Cr1 Cr1 Cr2 Cr1 Cr
Depreciation0.67 Cr0.54 Cr0.55 Cr0.38 Cr0.39 Cr0.39 Cr0.44 Cr0.91 Cr0.91 Cr0.94 Cr0.92 Cr0.96 Cr
Profit before tax-0.92 Cr2 Cr1 Cr9 Cr2 Cr2 Cr7 Cr2 Cr2 Cr2 Cr11 Cr2 Cr
Tax %0.0%0.0%-0.8%1.3%0.0%0.0%47.5%0.0%0.0%0.0%267.3%0.0%
Net profit-0.92 Cr2 Cr1 Cr9 Cr2 Cr2 Cr4 Cr2 Cr2 Cr2 Cr-18 Cr2 Cr
EPS (₹)₹-0.04₹0.11₹0.06₹0.39₹0.09₹0.09₹0.14₹0.07₹0.09₹0.08₹-0.76₹0.09

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026TTM
Sales——5 Cr2 Cr1 Cr45 Cr23 Cr95 Cr191 CrSign in free for the trailing twelve months
Operating expenses (approx.)——25 Cr19 Cr3 Cr39 Cr21 Cr77 Cr165 CrSign in free for the trailing twelve months
EBITDA——-20 Cr-17 Cr-2 Cr6 Cr1 Cr18 Cr25 CrSign in free for the trailing twelve months
OPM %——-416.3%-925.3%-150.5%14.2%6.5%19.0%13.2%Sign in free for the trailing twelve months
Other income——0.66 Cr0.99 Cr3 Cr1 Cr2 Cr1 Cr1 CrSign in free for the trailing twelve months
Interest——0.06 Cr0.20 Cr0.09 Cr2 Cr0.79 Cr5 Cr6 CrSign in free for the trailing twelve months
Depreciation——8 Cr8 Cr7 Cr3 Cr2 Cr2 Cr4 CrSign in free for the trailing twelve months
Profit before tax——-27 Cr-24 Cr-5 Cr3 Cr0.26 Cr13 Cr17 CrSign in free for the trailing twelve months
Tax %——0.0%0.0%0.0%2.3%3.8%24.8%175.7%Sign in free for the trailing twelve months
Net profit——-27 Cr-24 Cr-5 Cr3 Cr0.25 Cr10 Cr-13 CrSign in free for the trailing twelve months
EPS (₹)——₹-1.32₹-1.09₹-0.25₹0.13₹0.01₹0.40₹-0.53Sign in free for the trailing twelve months
Dividend payout %—————0.0%0.0%0.0%—Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Equity capital44 Cr44 Cr44 Cr44 Cr44 Cr44 Cr44 Cr48 Cr48 Cr
Reserves69 Cr-121 Cr-148 Cr-172 Cr-39 Cr18 Cr19 Cr174 Cr168 Cr
Borrowings48 Cr15 Cr15 Cr14 Cr28 Cr7 Cr16 Cr44 Cr44 Cr
Other liabilities181 Cr263 Cr268 Cr274 Cr32 Cr4 Cr7 Cr48 Cr93 Cr
Total liabilities342 Cr200 Cr178 Cr161 Cr65 Cr75 Cr87 Cr314 Cr354 Cr
Fixed assets (net)92 Cr90 Cr82 Cr75 Cr46 Cr47 Cr43 Cr47 Cr46 Cr
CWIP7 Cr2 Cr2 Cr2 Cr0 Cr5 Cr7 Cr0 Cr0 Cr
Investments7 Cr7 Cr19 Cr8 Cr8 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances——0 Cr0 Cr0 Cr8 Cr7 Cr2 Cr0 Cr
Inventories114 Cr51 Cr50 Cr50 Cr2 Cr8 Cr16 Cr16 Cr29 Cr
Trade receivables34 Cr34 Cr19 Cr10 Cr4 Cr1 Cr3 Cr84 Cr196 Cr
Cash & bank0.18 Cr0.06 Cr0.06 Cr0.05 Cr0.11 Cr0.14 Cr0.22 Cr7 Cr0.29 Cr
Other assets88 Cr18 Cr6 Cr17 Cr5 Cr6 Cr11 Cr159 Cr83 Cr
Total assets342 Cr200 Cr178 Cr161 Cr65 Cr75 Cr87 Cr314 Cr354 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Cash from operating activity——0.42 Cr0.66 Cr-152 Cr-58 Cr-5 Cr-92 Cr1 Cr
Cash from investing——-0.34 Cr-0.70 Cr26 Cr-9 Cr-5 Cr-24 Cr-1 Cr
Cash from financing——-0.07 Cr0.03 Cr126 Cr66 Cr10 Cr122 Cr-7 Cr
Net cash flow——-0.0020 Cr-0.0070 Cr0.49 Cr0.04 Cr0.23 Cr6 Cr-6 Cr
Free cash flow (OCF − Capex)————-152 Cr-61 Cr-9 Cr-117 Cr-1 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
ROCE %————-16.2%6.7%1.3%6.6%8.7%
ROE %————-108.0%4.5%0.4%4.4%-5.8%
Debtor days——1462186613221145323374
Inventory days——78944409436211451006178209
Days payable——9298537083046937435472
Cash conversion cycle——58-77481897147101466111
OCF / EBITDA %—————-902.5%-311.5%-511.7%5.2%
OCF / EBITDA % (3 years)——————-3438.1%——
Debt / equity0.42—0.000.005.540.110.260.200.20
Current ratio0.880.330.270.230.312.601.522.221.91
Net debt / EBITDA—————1.1010.772.051.74