Appointment of Statutory Auditors for a period of five years subject to approval of members at ensuing Annual General Meeting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mirc Electronics Board meeting on May 20, 2026 approved audited financial results for Q4 and FY2026, reporting revenue of Rs. 66,001 lakhs (down from Rs. 74,669 lakhs). The company posted a significant net loss of Rs. 7,474 lakhs compared to Rs. 230 lakhs loss in FY2025. Exceptional items included Rs. 2,939 lakhs inventory write-down, Rs. 240 lakhs restructuring costs, partially offset by Rs. 2,056 lakhs gain on sale of non-core assets including MIDC Andheri property. The Board proposed reappointing M/s. M M Nissim & Co LLP as Statutory Auditors for 5 years (from 45th to 50th AGM) subject to shareholder approval. The company completed significant fund-raising: Rs. 6,000 lakhs via NCDs, Rs. 4,048 lakhs via rights issue, and Rs. 14,952 lakhs via preferential allotment, which reduced promoter holding from 53.37% to 40.51%.
The company is undergoing financial stress with deep losses and inventory write-downs. The Rs. 25,000+ lakhs capital raise provides liquidity but significantly dilutes promoter stake. The auditor reappointment is routine and unchanged.