MIC Electronics Ltd
NSE: MICEL · Other Industrial Products · sector
₹35.87NSE close 2026-10-26
Key numbers
Market cap₹865 cr
Price₹35.87
52w high / low₹59 / ₹30
P/E–Sector median 23.1x
P/B4.0xSector median 3.1x
Book value₹9.0
Dividend yield–Sector median 0.43%
ROE-5.5%Sector median 9.8%
ROCE8.8%Sector median 13.0%
OPM11.4%Sector median 10.1%
Debt / equity0.20xSector median 0.23x
EV/EBITDA35.3xSector median 14.2x
Interest cover4.0x
Current ratio1.91x
Sales growth 3y+102.6%Sector median +13.6%
Profit growth 3y–Sector median +11.4%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 29 companies in Other Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹11 cr vs borrowings ₹44 cr (FY26): borrowings are higher by ₹33 cr.
- Operating profit covered interest 4.0x in the last 12 months.
- 3.70% of the promoters' shares are pledged (1.5% of all shares).
- Promoter holding fell by 16.28 percentage points in a year, to 41.73% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 5 years (FY25, FY24, FY23, FY22).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Debtor days went from 169 (FY24) to 375 (FY26).
- No dividend in the last 5 financial years.
- Price ₹35.87 on 2026-10-26: -38.9% from the 52-week high, +19.7% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹103.59 · low ₹31.31
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23 | 27 | 12 | 45 | 38 | 90 | 51 | 44 |
| EBITDA | 5 | 4 | 3 | 8 | 4 | 4 | 13 | 4 |
| OPM % | 23.6% | 13.3% | 29.3% | 18.7% | 10.1% | 4.4% | 26.3% | 9.8% |
| Other income | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Net profit | 50 | 2 | 2 | 3 | 2 | 2 | -18 | 2 |
| EPS (₹) | 2.24 | 0.09 | 0.09 | 0.14 | 0.09 | 0.08 | -0.76 | 0.09 |
| Revenue YoY | +65.0% | +228.6% | +332.3% | -2.5% | ||||
| Profit YoY | -95.6% | -11.7% | -945.6% | -38.1% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 45 | 23 | 55 | 95 | 191 | 223 |
| EBITDA | 6 | 1 | 19 | 18 | 25 | 25 |
| Net profit | 3 | 0 | 62 | 10 | -13 | -12 |
| EPS (₹) | 0.13 | 0.01 | 2.79 | 0.40 | -0.53 | -0.50 |
| Revenue growth | -49.0% | +138.2% | +73.6% | +101.1% | – | |
| Profit growth | -91.3% | +24,636.0% | -84.3% | -231.9% | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +102.6% | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -35.2% (2y) | -31.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 63 | 122 | 223 | 216 |
| Borrowings | – | 16 | 12 | 44 | 44 |
| Cash & equivalents | – | 1 | 8 | 14 | 11 |
| Total assets | – | 87 | 141 | 314 | 354 |
| Fixed assets | – | 43 | 26 | 47 | 46 |
| Capital work in progress | – | 7 | 0 | 0 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 3 | 25 | 84 | 196 |
| Inventory | – | 16 | 8 | 16 | 29 |
| Payables | – | 1 | 3 | 39 | 66 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -58 | -5 | -10 | -92 | 1 |
| Cash from investing | -9 | -5 | 16 | -24 | -1 |
| Cash from financing | 66 | 10 | -5 | 122 | -6 |
| Capex | 4 | 4 | 16 | 24 | 3 |
| Free cash flow | -61 | -9 | -26 | -117 | -2 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 0.4% | 50.7% | 4.4% | -5.9% |
| ROCE % | – | 1.3% | 14.5% | 6.6% | 8.7% |
| Debtor days | – | 45 | 169 | 324 | 375 |
| Inventory days | – | 382 | 100 | 100 | 77 |
| Payable days | – | 14 | 42 | 244 | 174 |
| Cash conversion cycle (days) | – | 413 | 227 | 180 | 278 |
| Working capital days | – | 177 | 285 | 368 | 223 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 41.73% |
| FIIs | 20.35% |
| DIIs | 0.00% |
| Public (non-institutions) | 37.92% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 66.48% | 62.06% | 58.01% | 55.52% | 51.70% | 51.57% | 41.73% | 41.73% |
| Promoter group | % |
|---|---|
| R R K Enterprise Private Limited | 36.33% |
| Siva Lakshmanarao Kakarala | 2.63% |
| Satyavathi Kakarala | 1.08% |
| Bindhu Sree Kakarala | 0.85% |
| Kalyan Kakarala | 0.84% |
| Public holders above 1% | % |
|---|---|
| Ebisu Global Opportunities Fund Limited | 8.65% |
| Unico Global Opportunities Fund Limited | 8.10% |
| Maybank Securities Pte Ltd | 3.58% |
| Tavas Advisory & Consulting (FZE) | 3.24% |
2,13,560 shareholders. Pledged: 3.70% of promoter shares.
Peers in Other Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| HBLENGINE | ₹21,089 cr | 22.8x | 9.5x | 50.0% | 55.1% | 31.2% | +34.1% | – |
| INOXINDIA | ₹17,251 cr | 67.7x | 15.4x | 25.8% | 29.2% | 21.0% | – | 0.10% |
| ESABINDIA | ₹8,178 cr | 36.9x | 19.1x | 56.1% | 69.1% | 19.5% | +11.4% | 1.73% |
| KRN | ₹7,000 cr | 69.0x | 12.2x | 18.1% | 17.1% | 19.6% | – | – |
| SUBROS | ₹3,885 cr | 23.4x | 3.1x | 14.2% | 18.1% | 8.1% | +10.2% | 0.43% |
| HARSHA | ₹3,716 cr | 24.0x | 2.6x | 11.7% | 13.2% | 14.6% | +6.0% | 0.25% |
| ADOR | ₹2,272 cr | 19.7x | 4.0x | 21.7% | 27.2% | 12.1% | +13.6% | 1.53% |
| DIFFNKG | ₹1,495 cr | 27.2x | 3.7x | 14.1% | 15.3% | 13.8% | – | 0.38% |
| MICEL | ₹865 cr | – | 4.0x | -5.5% | 8.8% | 11.4% | +102.6% | – |
| HTEL | ₹645 cr | – | – | – | – | – | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Electrical & Electronics, Spare parts trading | ₹103 cr | 54.0% | ₹0 cr | 0.5% |
| LED Products | ₹88 cr | 45.8% | ₹22 cr | 25.0% |
| Medical and other appliances | ₹0 cr | 0.2% | ₹-0 cr | -73.6% |
| Automobiles | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-08-21 | Other | Annual General Meeting |
| 2023-08-11 | Other | Annual General Meeting |
| 2022-08-12 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Other Industrial Products |
| Sub-industry | Other Industrial Products |
| Symbol | MICEL |
| BSE code | 532850 |
| ISIN | INE287C01037 |
| Face value | ₹2.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.