MIRC Electronics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
MIRCELECTR · price
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MIRC Electronics (the company behind the Onida brand) reported weak Q1 FY26 results with revenue from operations at Rs. 14,085 lakhs, down about 4% from Rs. 14,669 lakhs in the same quarter last year. The company swung to a loss after tax of Rs. 1,249 lakhs against a small profit of Rs. 44 lakhs in Q1 FY25, as total expenses remained elevated at Rs. 15,398 lakhs. EPS turned negative at Rs. (0.54). The full year ended March 2025 also closed in the red with a loss of Rs. 230 lakhs. Separately, the Board approved a preferential issue of up to 8.89 crore equity shares at Rs. 16.81 per share to four investors, expected to raise roughly Rs. 149 crores but leading to significant dilution.
Existing shareholders will see meaningful dilution as Authum Investment alone is set to hold 21.25% post-issue. The widening Q1 loss raises concerns about near-term profitability, though the capital raise may help shore up the balance sheet and reduce reliance on debt (the company also recently placed Rs. 60 crore of NCDs with Neo Income Plus Fund).