Incorporated in 1988, MIC Electronics Ltd is in the business of LED Products, Medical & other appliances, and Automobiles (EVs)[1]
Business Overview:[1][2]MICEL is an ISO certified company whichis in the design, development, and manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment, and the development of Telecom software. The company specializes in Railway Signalling Systems and LED Displays, and its products are applicable in Railways, Airports, etc.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | HBL Engineering | 956.90 | 40.14 | 26533.18 | 0.10 | 387.26 | 364.85 | 1222.90 | 134.74 | 27.33 | 2750.81 | 33.04 | 661.00 | 405.02 | 13.36 | 15.29 | 0.04 |
| 2. | PTC Industries | 17633.00 | 420.91 | 26450.20 | 0.00 | 18.14 | 4.79 | 124.63 | 72.21 | 7.74 | 410.62 | 19.11 | 62.84 | 18.14 | 18.65 | 4.98 | 0.13 |
| 3. | Inox India | 1141.10 | 43.39 | 10366.58 | 0.18 | 60.84 | 19.90 | 358.22 | 16.85 | 37.98 | 1400.87 | 21.71 | 238.93 | 59.34 | 10.57 | 15.35 | 0.10 |
| 4. | Esab India | 6081.00 | 50.89 | 9348.87 | 1.07 | 79.20 | 27.36 | 381.55 | 12.67 | 70.03 | 1438.78 | 17.54 | 183.72 | 54.97 | 22.47 | 29.15 | 0.01 |
| 5. | Subros | 885.90 | 35.99 | 5782.47 | 0.29 | 40.74 | 11.86 | 879.83 | 6.22 | 19.95 | 3487.52 | 9.15 | 160.69 | 40.74 | 4.99 | 8.46 | 0.02 |
| 6. | KRN Heat Exchan | 742.05 | 78.12 | 4612.33 | 0.00 | 18.02 | 46.39 | 152.07 | 66.93 | 20.75 | 510.32 | 16.18 | 59.04 | 18.02 | 8.73 | 12.41 | 0.06 |
| 7. | Harsha Engg Intl | 395.15 | 30.78 | 3594.44 | 0.25 | 36.44 | 25.83 | 378.34 | 7.31 | 12.14 | 1455.54 | 12.84 | 116.77 | 36.44 | 2.74 | 6.53 | 0.24 |
| 8. | MIC Electronics | 42.78 | 107.14 | 1029.59 | 0.00 | 2.22 | 5.21 | 12.24 | 9.29 | 8.71 | 63.67 | 31.02 | 9.61 | 2.22 | 4.57 | 4.54 | 0.20 |
| – | Median: 37 Co. | 289.5 | 30.11 | 397.13 | 0.0 | 5.98 | 19.03 | 96.05 | 9.29 | 19.73 | 224.14 | 12.08 | 15.96 | 5.98 | 3.21 | 9.19 | 0.21 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1.24 | 17.49 | 11.75 | 7.02 | 10.71 | 11.61 | 2.96 | 22.96 | 28.07 | 0.50 | 7.10 | 11.20 | 12.24 |
Expenses | 2.04 | 14.90 | 8.30 | 5.07 | 8.12 | 7.50 | 0.67 | 17.55 | 19.73 | 0.78 | 4.76 | 7.56 | 8.39 |
Operating Profit | -0.80 | 2.59 | 3.45 | 1.95 | 2.59 | 4.11 | 2.29 | 5.41 | 8.34 | -0.28 | 2.34 | 3.64 | 3.85 |
Other Income | 0.54 | 0.82 | 0.49 | 0.17 | 0.22 | 0.14 | 0.77 | 0.86 | 0.31 | 0.36 | 6.76 | 0.21 | 0.53 |
Profit before tax | -0.96 | 2.71 | 2.17 | 1.24 | 1.96 | 1.67 | 2.43 | 5.48 | 6.79 | -0.53 | 8.31 | 2.11 | 2.21 |
Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -804.93% | 47.72% | 0.00% | 0.00% | 0.00% | 0.00% |
Net Profit | -0.96 | 2.71 | 2.17 | 1.24 | 1.97 | 1.67 | 2.43 | 49.59 | 3.55 | -0.53 | 8.30 | 2.11 | 2.22 |
EPS in Rs | -0.04 | 0.12 | 0.09 | 0.06 | 0.08 | 0.07 | 0.11 | 2.24 | 0.15 | -0.02 | 0.37 | 0.09 | 0.09 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 83.85 | 150.43 | 206.75 | 217.93 | 158.62 | 4.84 | 1.86 | 1.09 | 31.14 | 5.89 | 54.57 | 61.73 | 63.67 |
Expenses | 81.14 | 138.94 | 162.82 | 215.63 | 162.89 | 24.54 | 18.95 | 2.73 | 25.46 | 5.10 | 42.09 | 43.49 | 43.92 |
Operating Profit | 2.71 | 11.49 | 43.93 | 2.30 | -4.27 | -19.70 | -17.09 | -1.64 | 5.68 | 0.79 | 12.48 | 18.24 | 19.75 |
Other Income | -52.50 | 3.11 | -192.81 | 2.15 | -95.02 | 0.38 | 1.00 | 3.14 | 1.19 | 1.91 | 8.61 | 1.22 | 1.47 |
Interest | 8.64 | 6.51 | 0.47 | 28.52 | 24.42 | 0.49 | 0.32 | 0.09 | 1.45 | 0.51 | 1.82 | 4.83 | 5.73 |
Depreciation | 4.45 | 7.67 | 7.51 | 7.81 | 7.75 | 7.66 | 7.53 | 6.82 | 2.61 | 2.04 | 1.54 | 1.61 | 2.65 |
Profit before tax | -62.88 | 0.42 | -156.86 | -31.88 | -131.46 | -27.47 | -23.94 | -5.41 | 2.81 | 0.15 | 17.73 | 13.02 | 12.84 |
Net Profit | -44.47 | 2.20 | -110.89 | -34.78 | -191.32 | -27.48 | -23.94 | -5.41 | 2.81 | 0.15 | 61.84 | 9.79 | 9.61 |
EPS in Rs | -4.34 | 0.18 | -6.67 | -1.58 | -8.69 | -1.25 | -1.09 | -0.25 | 0.13 | 0.01 | 2.79 | 0.41 | 0.40 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 20.50 | 23.78 | 33.23 | 44.05 | 44.05 | 44.05 | 44.05 | 44.05 | 44.29 | 44.29 | 44.29 | 48.20 | 48.20 |
Reserves | 280.16 | 287.93 | 199.01 | 62.77 | -127.99 | -155.46 | -179.40 | -46.28 | 15.68 | 15.83 | 77.67 | 173.41 | 177.30 |
Borrowings | 146.63 | 161.04 | 156.62 | 103.79 | 117.17 | 117.17 | 134.64 | 32.85 | 1.00 | 10.56 | 11.65 | 47.91 | 45.85 |
Other Liabilities | 113.86 | 122.47 | 97.39 | 123.89 | 159.52 | 164.47 | 152.85 | 26.13 | 2.46 | 2.62 | 7.14 | 10.69 | 20.80 |
Total Liabilities | 561.15 | 595.22 | 486.25 | 334.50 | 192.75 | 170.23 | 152.14 | 56.75 | 63.43 | 73.30 | 140.75 | 280.21 | 292.15 |
Fixed Assets | 135.43 | 127.50 | 120.26 | 92.54 | 89.80 | 82.14 | 74.61 | 46.33 | 43.79 | 41.08 | 25.87 | 46.85 | 48.04 |
Gross Block | 169.98 | 169.98 | 170.25 | 146.93 | 151.80 | 151.80 | 151.81 | 151.36 | 150.71 | 148.82 | 134.45 | 156.08 | – |
Accumulated Depreciation | 34.55 | 42.48 | 49.98 | 54.38 | 62.00 | 69.67 | 77.20 | 105.03 | 106.92 | 107.74 | 108.57 | 109.23 | – |
CWIP | 17.24 | 17.24 | 17.24 | 6.65 | 1.83 | 1.83 | 1.83 | 0.00 | 0.00 | 2.78 | 0.10 | 1.87 | 0.00 |
Investments | 5.54 | 2.29 | 2.29 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.33 | 3.33 | 0.00 | 51.28 | 51.28 |
Other Assets | 402.94 | 448.19 | 346.46 | 235.31 | 101.12 | 86.26 | 75.70 | 10.42 | 16.31 | 26.11 | 114.78 | 180.21 | 192.83 |
Total Assets | 561.15 | 595.22 | 486.25 | 334.50 | 192.75 | 170.23 | 152.14 | 56.75 | 63.43 | 73.30 | 140.75 | 280.21 | 292.15 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -3.14 | -31.79 | -22.39 | -21.66 | 33.05 | -0.01 | 0.03 | -146.24 | -58.36 | -6.47 | -12.87 | 2.46 |
Cash from Investing Activity | 32.10 | 3.04 | -0.37 | -0.84 | -0.04 | 0.08 | -0.07 | 20.25 | -0.40 | -3.13 | 18.65 | -118.46 |
Cash from Financing Activity | -29.76 | 29.45 | 23.07 | 21.63 | -33.12 | -0.07 | 0.03 | 126.05 | 58.77 | 9.81 | -5.23 | 121.61 |
Net Cash Flow | -0.80 | 0.70 | 0.31 | -0.87 | -0.11 | 0.00 | -0.01 | 0.06 | 0.02 | 0.21 | 0.56 | 5.61 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 384.59 | 266.76 | 166.60 | 57.01 | 77.66 | 1,466.03 | 1,866.21 | 1,326.06 | 15.12 | 143.15 | 169.36 | 301.85 |
Inventory Days | 913.15 | 546.50 | 183.79 | 240.71 | 133.90 | 7,084.12 | 37,663.44 | 971.62 | 51.42 | 7,805.38 | 100.92 | 226.63 |
Days Payable | 340.10 | 192.07 | 147.10 | 81.95 | 147.38 | 8,211.79 | 45,107.92 | 323.87 | 7.85 | 290.13 | 42.33 | 92.62 |
Cash Conversion Cycle | 957.64 | 621.19 | 203.30 | 215.77 | 64.18 | 338.37 | -5,578.27 | 1,973.80 | 58.69 | 7,658.41 | 227.94 | 435.87 |
Working Capital Days | 350.20 | 289.10 | 17.37 | -41.70 | -430.12 | -15,590.93 | -43,199.52 | -8,073.53 | 136.90 | 652.54 | 233.57 | 174.55 |
ROCE % | – | 1.37% | 9.24% | -1.14% | -8.91% | -136.96% | -935.45% | -35.57% | 9.30% | 1.00% | 12.31% | 8.71% |
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Stock Analysis
MIC Electronics Limited, incorporated in 1988, is an ISO-certified company engaged in the design, development, and manufacturing of LED Video Displays, high-end electronic and telecommunication equipment, and telecom software, with a focus on railway signaling systems and LED displays.
MIC Electronics has secured multiple work orders from Indian Railways recently, including a ₹1.05 crore variation order from Central Railway and an initial commercial order for its RMPU from Northeast Frontier Railway, adding to a pipeline of railway-related projects.
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