MIRC Electronics Limited has informed the Exchange regarding Outcome of Board Meeting held on May 20, 2026.
MIRCELECTR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MIRC Electronics reported a net loss of Rs. 7,474 Lakhs for FY2026, significantly worse than the loss of Rs. 230 Lakhs in FY2025. Revenue from operations declined 11.6% to Rs. 66,001 Lakhs from Rs. 74,669 Lakhs. The company undertook major restructuring including an inventory write-down of Rs. 2,939 Lakhs, restructuring costs of Rs. 240 Lakhs, and gain on sale of non-core assets (including MIDC, Andheri property) of Rs. 2,056 Lakhs. To strengthen liquidity, the company raised Rs. 6,000 Lakhs via NCDs, Rs. 4,048 Lakhs via Rights Issue, and Rs. 14,952 Lakhs via Preferential Allotment. The auditors issued an unmodified opinion but included an Emphasis of Matter on the exceptional items. The company also appointed M/s. M M Nissim & Co LLP as new statutory auditors for 5 years.
The sharp revenue decline and large net loss are negative signals for shareholders. However, the Rs. 25,000 Lakhs capital raise and asset sales provide much-needed liquidity. The inventory write-down suggests potential recovery challenges in the consumer durables business. Promoter holding reduced from 53.37% to 40.51% post-preferential allotment.