MIC Electronics Ltd

Financial performance

• Standalone total income: 8844.02 Lakhs in FY2025-26, up from 6294.68.
• Standalone PAT: -1310.65 Lakhs due to non-cash tax reversal.
• Consolidated total income: 19168.53 Lakhs; Consolidated PAT: -1263.36.
• Standalone EPS: -0.55; Consolidated EPS: -0.53.
• Net cash from operating activities: 382.13 Lakhs; year-end cash: 6.90 Lakhs.
• Total borrowings: 3487.25 Lakhs.

Capital structure & capital actions

• Authorised capital fixed at 90 Crores; paid-up capital 48.20 Crores.
• Neo Semi acquisition: 89.65% stake; preferential issue up to 5,68,73,418 shares.
• Post-issue equity: 29,78,84,978 shares; promoter stake 41.83%.
• Dividend: No dividend declared during FY2025-26.
• Net cash flow from financing activities: -718.25 Lakhs; net cash decrease: -643.16 Lakhs.

Strategic developments and outlook

• IPIS V2.0 development progressed; ELU and PAPIS validations achieved.
• Neo Semi acquisition advances; platform across India, Singapore, UAE.
• Diversification into laboratory infrastructure; Nava Raipur order.
• Railways digitization and smart-grid initiatives underpin growth.

Governance and risk management

• Board changes: Ravinder Surakanti appointed Independent; Deepayan Mohanty moved to Non-Independent; Sabitha Ghanta resigned.
• Statutory auditors Bhavani & Co. reappointed for five years, subject to approvals.
• Secretarial audit: no qualifications; SEBI LODR compliance confirmed.
• RPT governance: omnibus approvals; material RPT threshold at 10% of turnover.

CSR and ESG

• CSR spend Rs 20.65 Lakhs; average net profit for CSR Rs 1030.18 Lakhs.
• CSR project: Promoting Children's Education in Telangana via Sujana Charitable Trust.
• CSR policy disclosed on MIC website.

Outlook and risk factors

• Outlook: pursue Railway PIS, LED displays, EV charging; Neo Semi integration.
• Risks include pricing pressure, project delays, and working capital cycles.
• Policy tailwinds from Make in India and semiconductor initiatives.

Subsidiaries and group structure

• Subsidiaries: SOA Electronics Trading LLC (Dubai) 100%; MICK Digital India Limited (India) 100%; Cellular Galaxy Electronics LLC (Dubai) 99%.

Rating Action & Outlook

• Agency: Brickwork Ratings.
• Fund-based facilities upgraded to BBB- / Stable.
• Non-fund-based facilities upgraded to A3.
• Total rated facilities: Rs 110.82 crore.
• Outlook: Stable for fund-based; overall upgrade reflected.
• Validity: 12 months with surveillance and NDS submission.
• Material changes since last rating: upgrades across fund-based and non-fund-based facilities.

Instruments & Ratings

• Fund-based facilities (Cash Credit, Term Loan, WCTL) rated BBB- / Stable.
• Non-fund-based facilities (Bank Guarantee) rated A3 Upgrade.

Book closure and AGM details

• Book closure from 11 Sep 2026 to 16 Sep 2026 (inclusive) for AGM.
• Purpose: 38th AGM of MIC Electronics.
• Record date fixed as 10 Sep 2026 to determine attendance and voting eligibility.
• AGM date scheduled for 16 Sep 2026 at 11:00 IST.
• Security: Equity shares of the company.
• Remote e-voting period from 13 Sep 2026, 9:00 IST to 15 Sep 2026, 17:00 IST.

Financial performance

• Standalone revenue from operations Rs 1,228.94 Lakhs; total income Rs 1,250.52 Lakhs.
• Standalone PBT Rs 175.41 Lakhs; PAT Rs 175.41 Lakhs; Basic EPS Rs 0.07; Diluted Rs 0.07.
• Consolidated total income Rs 4,393.53 Lakhs; PBT Rs 213.20 Lakhs; PAT Rs 213.20 Lakhs.
• Consolidated EPS: basic Rs 0.09; diluted Rs 0.07.
• Audit Committee reviewed results; limited statutory review conducted.

Segment performance

• Standalone LED Products revenue Rs 1,228.94 Lakhs; PBT Rs 293.04 Lakhs.
• Standalone Medical & other appliances PBT Rs -0.55 Lakhs.
• Consolidated LED revenue Rs 1,228.94 Lakhs; Spare parts trading Rs 3,143.01 Lakhs; total Rs 4,371.95 Lakhs.
• Consolidated segment PBT before interest Rs 330.91 Lakhs; after interest Rs 213.20 Lakhs.

Meeting Details

• Board meeting scheduled for July 31, 2026; time and venue not disclosed.

Key Agenda Items

• Unaudited standalone and consolidated financial results for quarter and year ended June 30, 2026 to be considered.
• Limited Review Report (standalone & consolidated) for quarter ended June 30, 2026.
• Board's Report for FY 2025-26 with annexures to be considered.
• Fix time, date and venue of the 38th AGM and approve AGM Notice for FY 2025-26.
• Appoint the Scrutinizer for the 38th AGM.

Other Notes

• Trading window closure from July 01, 2026 until 48 hours after the unaudited results declaration.

Completion certificates

• Receipt of completion certificates for Coach Indicator Boards at six Rajkot Division platforms.
• Certificates cover Coach Guidance Boards, Display Boards, and GPS clocks at Kareli station PF1 and PF02.
• Completion for Parcel Management System at 10 stations of Jabalpur Division.

Dematerialization/rematerialization status

• No dematerialization/rematerialization requests were received during the quarter.