Outcome of the Meeting of Board of Directors held on May 20, 2026
MIRCELECTR · price
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MIRC Electronics reported a significant net loss of Rs. 7,474 lakhs for FY2026 compared to a profit of Rs. 230 lakhs in FY2025. Revenue declined 11.6% to Rs. 66,001 lakhs from Rs. 74,669 lakhs. The company undertook major restructuring including a Rs. 240 lakh restructuring cost, Rs. 2,939 lakh inventory write-down to net realizable value, and Rs. 2,056 lakh gain on sale of non-core assets (including MIDC Andheri property). The auditors issued an unmodified opinion with an Emphasis of Matter on these exceptional items. The company raised Rs. 24,000+ lakhs through NCDs, rights issue, and preferential allotment to strengthen liquidity. A new statutory auditor (M M Nissim & Co LLP) was appointed for a 5-year term. Operating cash flow turned negative at Rs. 10,718 lakhs.
The company posted a massive loss with negative operating cash flow, signaling severe operational stress despite fund-raising efforts. The inventory write-down and restructuring costs indicate ongoing business challenges in the consumer durables segment.