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MIRC Electronics

NSEI:MIRCELECTR
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MIRCELECTR
NSEI
₹5B
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

MIRC Electronics Limited manufactures and markets electronics and consumer durables in India. The last earnings update was 71 days ago. More info.


Add to Portfolio Compare Print
  • MIRC Electronics has significant price volatility in the past 3 months.
MIRCELECTR Share Price and Events
7 Day Returns
-7.5%
NSEI:MIRCELECTR
-1.1%
IN Consumer Durables
-1.9%
IN Market
1 Year Returns
-58.3%
NSEI:MIRCELECTR
-13.6%
IN Consumer Durables
-2.8%
IN Market
MIRCELECTR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MIRC Electronics (MIRCELECTR) -7.5% -8.8% -19.4% -58.3% 58% 178.2%
IN Consumer Durables -1.1% 0.6% 3.3% -13.6% 54.8% 251.6%
IN Market -1.9% 1.2% 5.1% -2.8% 38.3% 71%
1 Year Return vs Industry and Market
  • MIRCELECTR underperformed the Consumer Durables industry which returned -13.6% over the past year.
  • MIRCELECTR underperformed the Market in India which returned -2.8% over the past year.
Price Volatility
MIRCELECTR
Industry
5yr Volatility vs Market

MIRCELECTR Value

 Is MIRC Electronics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of MIRC Electronics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MIRC Electronics.

NSEI:MIRCELECTR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 16.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:MIRCELECTR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.916 (1 + (1- 35%) (21.03%))
1.028
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.028 * 8.6%)
16.39%

Discounted Cash Flow Calculation for NSEI:MIRCELECTR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MIRC Electronics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:MIRCELECTR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 16.39%)
2019 520.33 Est @ 11.52% 447.06
2020 574.09 Est @ 10.33% 423.79
2021 628.61 Est @ 9.5% 398.69
2022 684.64 Est @ 8.91% 373.08
2023 742.86 Est @ 8.5% 347.80
2024 803.90 Est @ 8.22% 323.38
2025 868.36 Est @ 8.02% 300.12
2026 936.76 Est @ 7.88% 278.17
2027 1,009.63 Est @ 7.78% 257.59
2028 1,087.47 Est @ 7.71% 238.38
Present value of next 10 years cash flows ₹3,388.05
NSEI:MIRCELECTR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹1,087.47 × (1 + 7.55%) ÷ (16.39% – 7.55%)
₹13,230.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹13,230.77 ÷ (1 + 16.39%)10
₹2,900.25
NSEI:MIRCELECTR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹3,388.05 + ₹2,900.25
₹6,288.30
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹6,288.30 / 230.95
₹27.23
NSEI:MIRCELECTR Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹27.23
Current discount Discount to share price of ₹19.75
= -1 x (₹19.75 - ₹27.23) / ₹27.23
27.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price MIRC Electronics is available for.
Intrinsic value
27%
Share price is ₹19.75 vs Future cash flow value of ₹27.23
Current Discount Checks
For MIRC Electronics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MIRC Electronics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MIRC Electronics's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for MIRC Electronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MIRC Electronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:MIRCELECTR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹0.09
BSE:500279 Share Price ** BSE (2019-04-24) in INR ₹19.75
India Consumer Durables Industry PE Ratio Median Figure of 42 Publicly-Listed Consumer Durables Companies 27.47x
India Market PE Ratio Median Figure of 2,739 Publicly-Listed Companies 16.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MIRC Electronics.

NSEI:MIRCELECTR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500279 Share Price ÷ EPS (both in INR)

= 19.75 ÷ 0.09

224.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MIRC Electronics is overvalued based on earnings compared to the IN Consumer Durables industry average.
  • MIRC Electronics is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does MIRC Electronics's expected growth come at a high price?
Raw Data
NSEI:MIRCELECTR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 224.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
37.9%per year
India Consumer Durables Industry PEG Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 2.2x
India Market PEG Ratio Median Figure of 586 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for MIRC Electronics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on MIRC Electronics's assets?
Raw Data
NSEI:MIRCELECTR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹10.22
BSE:500279 Share Price * BSE (2019-04-24) in INR ₹19.75
India Consumer Durables Industry PB Ratio Median Figure of 47 Publicly-Listed Consumer Durables Companies 1.73x
India Market PB Ratio Median Figure of 3,630 Publicly-Listed Companies 1.09x
NSEI:MIRCELECTR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500279 Share Price ÷ Book Value per Share (both in INR)

= 19.75 ÷ 10.22

1.93x

* Primary Listing of MIRC Electronics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MIRC Electronics is overvalued based on assets compared to the IN Consumer Durables industry average.
X
Value checks
We assess MIRC Electronics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. MIRC Electronics has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MIRCELECTR Future Performance

 How is MIRC Electronics expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover MIRC Electronics, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
37.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MIRC Electronics expected to grow at an attractive rate?
  • MIRC Electronics's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • MIRC Electronics's earnings growth is expected to exceed the India market average.
  • Unable to compare MIRC Electronics's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NSEI:MIRCELECTR Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:MIRCELECTR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 37.9%
India Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 17.5%
India Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 13.2%
India Market Earnings Growth Rate Market Cap Weighted Average 18.3%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:MIRCELECTR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:MIRCELECTR Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 6,770 20
2018-09-30 6,477 35
2018-06-30 7,204 195
2018-03-31 7,281 472 235
2017-12-31 7,664 471
2017-06-30 7,060 -21
2017-03-31 7,288 500 -192
2016-03-31 7,722 203 -195

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MIRC Electronics's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if MIRC Electronics is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:MIRCELECTR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from MIRC Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MIRCELECTR Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 0.09
2018-09-30 0.16
2018-06-30 0.87
2018-03-31 1.08
2017-12-31 2.22
2017-06-30 -0.10
2017-03-31 -0.96
2016-03-31 -0.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if MIRC Electronics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess MIRC Electronics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MIRC Electronics has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MIRCELECTR Past Performance

  How has MIRC Electronics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare MIRC Electronics's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MIRC Electronics has delivered over 20% year on year earnings growth in the past 5 years.
  • MIRC Electronics's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • MIRC Electronics's 1-year earnings growth is negative, it can't be compared to the IN Consumer Durables industry average.
Earnings and Revenue History
MIRC Electronics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MIRC Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MIRCELECTR Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 6,769.78 19.93 816.08
2018-09-30 6,476.98 35.43 817.68
2018-06-30 7,203.60 194.70 677.50
2018-03-31 7,281.18 234.93 844.68
2017-12-31 7,664.28 471.02 905.42
2017-06-30 7,059.98 -20.88 1,090.92
2017-03-31 7,287.83 -192.42 898.97
2016-03-31 7,722.10 -194.55 953.10
2015-03-31 10,735.35 -45.70 1,112.13
2014-03-31 13,040.68 -621.35 2,021.41 53.17
2013-12-31 13,190.37 -540.56 2,048.46 54.45
2013-09-30 13,220.08 -459.78 1,955.12 55.73
2013-06-30 13,130.68 -385.83 1,958.72 55.73
2013-03-31 13,161.26 -311.88 2,082.72 55.73

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • MIRC Electronics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MIRC Electronics used its assets less efficiently than the IN Consumer Durables industry average last year based on Return on Assets.
  • MIRC Electronics has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MIRC Electronics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MIRC Electronics has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MIRCELECTR Health

 How is MIRC Electronics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MIRC Electronics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MIRC Electronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MIRC Electronics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of MIRC Electronics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from MIRC Electronics Company Filings, last reported 3 months ago.

NSEI:MIRCELECTR Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,337.90 964.10 99.90
2018-09-30 2,337.90 964.10 99.90
2018-06-30 2,373.90 482.10 262.20
2018-03-31 2,374.02 504.24 179.59
2017-12-31 1,435.70 1,558.80 175.20
2017-06-30 1,511.48 1,673.79 190.13
2017-03-31 1,242.48 1,673.79 149.62
2016-03-31 1,375.70 2,003.91 184.54
2015-03-31 1,513.46 2,170.68 188.12
2014-03-31 1,289.21 2,737.07 281.73
2013-12-31 1,289.21 2,737.07 281.73
2013-09-30 1,504.80 3,098.90 169.40
2013-06-30 1,504.80 3,098.90 169.40
2013-03-31 1,910.58 2,921.69 336.40
  • MIRC Electronics's level of debt (41.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (212.3% vs 41.2% today).
  • Debt is well covered by operating cash flow (49%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess MIRC Electronics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MIRC Electronics has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MIRCELECTR Dividends

 What is MIRC Electronics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from MIRC Electronics dividends.
If you bought ₹2,000 of MIRC Electronics shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate MIRC Electronics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate MIRC Electronics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:MIRCELECTR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 0.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:MIRCELECTR Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2012-06-29 0.000 0.000
2011-05-05 1.000 5.755
2010-05-03 0.950 4.253
2009-06-01 0.400 2.410

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as MIRC Electronics has not reported any payouts.
  • Unable to verify if MIRC Electronics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of MIRC Electronics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as MIRC Electronics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess MIRC Electronics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MIRC Electronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MIRC Electronics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MIRCELECTR Management

 What is the CEO of MIRC Electronics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
G. Sundar
COMPENSATION ₹35,665,439
TENURE AS CEO 5.3 years
CEO Bio

Mr. G. Sundar, C.A., I.C.W.A., A.C.S, has been Chief Executive Officer at MIRC Electronics Limited since January 31, 2014 and served as its Director of Strategy since July 10, 2013 until June 2, 2017. Mr. Sundar served as its Chief Executive Officer at MIRC Electronics Limited until July 10, 2013. He joined MIRC in 1985 and headed its Finance function till 1997, when he took over as the Executive Vice President. He has largely been responsible for building MIRC into one of the most financially stable companies in the country.

CEO Compensation
  • G.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • G.'s remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the MIRC Electronics management team in years:

3.7
Average Tenure
69
Average Age
  • The tenure for the MIRC Electronics management team is about average.
Management Team

Gulu Mirchandani

TITLE
Co-Founder
COMPENSATION
₹12M
AGE
75
TENURE
38.3 yrs

G. Sundar

TITLE
Chief Executive Officer
COMPENSATION
₹36M
TENURE
5.3 yrs

Vijay Mansukhani

TITLE
Founder
COMPENSATION
₹12M
AGE
69
TENURE
38.3 yrs

Lalit Chendvankar

TITLE
Head of Corporate Affairs & Legal
COMPENSATION
₹4M
TENURE
3.7 yrs

Kaval Mirchandani

TITLE
Whole Time Director
COMPENSATION
₹4M
AGE
43

Subrat Nayak

TITLE
Vice President of Strategy
COMPENSATION
₹5M
TENURE
0.7 yrs

Sanjay Munshi

TITLE
Whole Time Director & VP of Operation
TENURE
0.2 yrs

Pratyush Chinmoy

TITLE
Assistant General Manager of Marketing
TENURE
0.7 yrs

Lokesh Sikka

TITLE
Chief Human Resource Officer
TENURE
1.8 yrs

Shatrughan Singh

TITLE
Deputy Company Secretary
TENURE
7.7 yrs
Board of Directors Tenure

Average tenure and age of the MIRC Electronics board of directors in years:

2.9
Average Tenure
62
Average Age
  • The average tenure for the MIRC Electronics board of directors is less than 3 years, this suggests a new board.
Board of Directors

Gulu Mirchandani

TITLE
Co-Founder
COMPENSATION
₹12M
AGE
75

Vijay Mansukhani

TITLE
Founder
COMPENSATION
₹12M
AGE
69
TENURE
38.3 yrs

Kaval Mirchandani

TITLE
Whole Time Director
COMPENSATION
₹4M
AGE
43
TENURE
2.9 yrs

Sanjay Munshi

TITLE
Whole Time Director & VP of Operation
TENURE
0.2 yrs

Rafique Malik

TITLE
Independent & Non-Executive Director
COMPENSATION
₹240K
AGE
67
TENURE
5.3 yrs

Carlton Pereira

TITLE
Independent & Non-Executive Director
COMPENSATION
₹200K
AGE
51
TENURE
4.9 yrs

Arvind Sharma

TITLE
Independent & Non-Executive Director
COMPENSATION
₹120K
AGE
62
TENURE
2.4 yrs

Sujata Deshmukh

TITLE
Independent & Non-Executive Women Director
COMPENSATION
₹70K
AGE
44
TENURE
2.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess MIRC Electronics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MIRC Electronics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MIRCELECTR News

Simply Wall St News

Why You Should Care About MIRC Electronics Limited’s (NSE:MIRCELECTR) Low Return On Capital

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Do Insiders Own Shares In MIRC Electronics Limited (NSE:MIRCELECTR)?

Every investor in MIRC Electronics Limited (NSE:MIRCELECTR) should be aware of the most powerful shareholder groups. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … MIRC Electronics is a smaller company with a market capitalization of ₹5.1b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Announcing: MIRC Electronics (NSE:MIRCELECTR) Stock Soared An Exciting 371% In The Last Five Years

For example, the MIRC Electronics Limited (NSE:MIRCELECTR) share price is up a whopping 371% in the last half decade, a handsome return for long term holders. … Given that MIRC Electronics only made minimal earnings in the last twelve months, we'll focus on revenue to gauge its business development. … As a general rule, if the market is looking past earnings to focus on revenue, there is a hope for, or expectation of, strong growth.

Simply Wall St -

How Should Investors React To MIRC Electronics Limited's (NSE:MIRCELECTR) CEO Pay?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … See our latest analysis for MIRC Electronics. … Sundar's Compensation Compare With Similar Sized Companies?.

Simply Wall St -

Should You Be Concerned About MIRC Electronics Limited's (NSE:MIRCELECTR) ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each ₹1 of shareholders' equity it has, the company made ₹0.015 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is MIRC Electronics Limited (NSE:MIRCELECTR) Attractive At This PE Ratio?

MIRC Electronics Limited (NSE:MIRCELECTR) is trading with a trailing P/E of 28.8, which is higher than the industry average of 20.5. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … Check out our latest analysis for MIRC Electronics

Simply Wall St -

Why MIRC Electronics Limited's (NSE:MIRCELECTR) ROE Of 9.90% Does Not Tell The Whole Story

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … MIRC Electronics Limited (NSE:MIRCELECTR) delivered an ROE of 9.90% over the past 12 months, which is relatively in-line with its industry average of 12.25% during the same period. … Check out our latest analysis for MIRC Electronics

Simply Wall St -

How Much is MIRC Electronics Limited's (NSE:MIRCELECTR) CEO Getting Paid?

Sundar is the CEO of MIRC Electronics Limited (NSE:MIRCELECTR), which has recently grown to a market capitalization of ₹7.30bG … Incentives can be in the form of compensation, which should always be structured in a way that promotes value-creation to shareholders. … Check out our latest analysis for MIRC Electronics

Simply Wall St -

Is MIRC Electronics Limited's (NSE:MIRCELECTR) PE Ratio A Signal To Buy For Investors?

and want to better understand how you can grow your money by investing in MIRC Electronics Limited (NSE:MIRCELECTR). … MIRC Electronics Limited (NSE:MIRCELECTR) is trading with a trailing P/E of 29.8x, which is lower than the industry average of 38.3x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind

Simply Wall St -

What You Must Know About MIRC Electronics Limited's (NSE:MIRCELECTR) Financial Strength

How does MIRCELECTR’s operating cash flow stack up against its debt? … On top of this, MIRCELECTR has generated IN₨378.24M in operating cash flow during the same period of time, leading to an operating cash to total debt ratio of 22.60%, meaning that MIRCELECTR’s operating cash is sufficient to cover its debt. … Furthermore, its cash flow coverage of less than a quarter of debt means that operating efficiency could also be an issue.

Simply Wall St -

MIRCELECTR Company Info

Description

MIRC Electronics Limited manufactures and markets electronics and consumer durables in India. It offers LED and LCD televisions, air conditioners, washing machines, microwave ovens, DVD and home theatre systems, mobile phones, projector systems, and LED lights under the Onida brand. The company also exports its products. MIRC Electronics Limited was founded in 1981 and is based in Mumbai, India.

Details
Name: MIRC Electronics Limited
MIRCELECTR
Exchange: NSEI
Founded: 1981
₹4,584,409,487
230,952,619
Website: http://www.onida.com
Address: MIRC Electronics Limited
Onida House,
G1, MIDC,
Mumbai,
Maharashtra, 400093,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500279 Equity Shares Mumbai Stock Exchange IN INR 02. Jul 2001
NSEI MIRCELECTR Equity Shares National Stock Exchange of India IN INR 02. Jul 2001
Number of employees
Current staff
Staff numbers
818
MIRC Electronics employees.
Industry
Consumer Electronics
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 12:48
End of day share price update: 2019/04/24 00:00
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.