MIRC Electronics Ltd (MIRCELECTR) — share price & stock analysis
Profits are still 308% below their best year.
MIRC Electronics Ltd (MIRCELECTR) trades at ₹37.7 as of 17 June 2026, up 164% over the past year — beating NIFTY 500 for 48 weeks. The machine reads this as shrinking: profits are still 308% below their best year. the price is in Stage 2 — advancing, 44 weeks in; the business cycle reads DEEP CYCLICAL / IN THE DOWNCYCLE. Fundamentals-momentum score: 11/100 (deteriorating).
Data as of 17 June 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹1,394 Cr
- ROE
- −33.6%
- Book value / share
- ₹6.4
- Revenue (FY26)
- ₹660 Cr
- Profit after tax (FY26)
- ₹-75 Cr
- Weinstein stage
- Stage 2 (44 weeks)
- Data as of
- 17 June 2026
Profits swing violently in this business — real losses in FY12 and FY13 and FY14 and FY16 and FY17 and FY19 and FY20 and FY22 and FY23 and FY24 and FY25 and FY26. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 0% of their historical range, margins are near the bottom of their band, and valuation history is thin. That reads as IN THE DOWNCYCLE — cheap, but the knife is still falling — a trough is only a trough once profits stop shrinking.net_profit
1 of the 6 things we track are currently moving the right way — most of the dashboard is red.
Where the levels actually stand: ROCE −16% — weak; debt moderate (0.33× equity); margins near the bottom of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
Stage 2: the trend is up, and has been for 44 weeks
STAGE 2 · ADVANCING · 44 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 44 weeks so far, confirmed.stage
The price sits above its rising 200-day average (₹30 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 48 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Apr 16 | 9.9 | 12.1 | 10.8 | 4 |
| Jun 16 | 10.6 | 11.8 | 11.0 | 4 |
| Aug 16 | 10.3 | 11.4 | 10.7 | 4 |
| Oct 16 | 13.2 | 11.4 | 11.6 | 4 |
| Dec 16 | 12.9 | 12.1 | 12.7 | 2 |
| Feb 17 | 13.0 | 12.3 | 12.9 | 2 |
| Apr 17 | 13.0 | 12.4 | 12.7 | 3 |
| Jun 17 | 13.0 | 12.6 | 12.8 | 2 |
| Aug 17 | 13.1 | 13.0 | 13.8 | 2 |
| Oct 17 | 30.2 | 16.3 | 22.6 | 2 |
| Dec 17 | 56.4 | 24.8 | 39.8 | 2 |
| Feb 18 | 45.7 | 33.1 | 46.7 | 2 |
| Apr 18 | 44.4 | 37.4 | 45.8 | 2 |
| Jun 18 | 25.7 | 36.1 | 34.3 | 4 |
| Aug 18 | 27.2 | 33.5 | 29.5 | 4 |
| Nov 18 | 24.7 | 30.3 | 24.8 | 4 |
| Jan 19 | 24.1 | 28.1 | 24.4 | 4 |
| Mar 19 | 21.1 | 25.8 | 21.8 | 4 |
| May 19 | 16.7 | 23.7 | 19.5 | 4 |
| Jul 19 | 15.0 | 21.1 | 16.8 | 4 |
| Sep 19 | 10.9 | 17.9 | 12.4 | 4 |
| Nov 19 | 6.9 | 14.5 | 8.5 | 4 |
| Jan 20 | 9.0 | 11.8 | 7.4 | 4 |
| Mar 20 | 4.6 | 10.3 | 7.3 | 4 |
| May 20 | 4.3 | 8.4 | 5.0 | 4 |
| Jul 20 | 6.0 | 7.7 | 6.2 | 4 |
| Sep 20 | 7.6 | 7.9 | 8.0 | 4 |
| Nov 20 | 7.6 | 7.8 | 7.6 | 4 |
| Jan 21 | 10.9 | 8.9 | 10.6 | 2 |
| Apr 21 | 13.0 | 10.2 | 12.4 | 2 |
| Jun 21 | 16.1 | 11.7 | 14.6 | 2 |
| Aug 21 | 18.7 | 14.2 | 18.4 | 2 |
| Oct 21 | 20.8 | 15.0 | 17.2 | 2 |
| Dec 21 | 25.2 | 17.3 | 21.1 | 2 |
| Feb 22 | 24.5 | 20.8 | 26.1 | 2 |
| Apr 22 | 19.6 | 20.3 | 20.6 | 2 |
| Jun 22 | 11.7 | 18.1 | 14.8 | 4 |
| Aug 22 | 14.6 | 16.4 | 13.7 | 4 |
| Oct 22 | 14.8 | 16.5 | 15.9 | 1 |
| Dec 22 | 15.9 | 16.1 | 15.5 | 4 |
| Feb 23 | 13.9 | 15.7 | 14.7 | 4 |
| Apr 23 | 12.9 | 14.6 | 12.9 | 4 |
| Jun 23 | 15.8 | 14.2 | 13.6 | 4 |
| Sep 23 | 20.5 | 16.1 | 18.6 | 2 |
| Nov 23 | 15.9 | 16.9 | 18.1 | 2 |
| Jan 24 | 15.5 | 16.5 | 16.1 | 4 |
| Mar 24 | 21.2 | 18.2 | 21.2 | 2 |
| May 24 | 22.0 | 18.9 | 20.9 | 2 |
| Jul 24 | 19.2 | 19.2 | 19.8 | 2 |
| Sep 24 | 24.5 | 20.6 | 23.3 | 2 |
| Nov 24 | 18.7 | 20.7 | 21.0 | 2 |
| Jan 25 | 20.6 | 20.8 | 21.0 | 1 |
| Mar 25 | 12.6 | 19.0 | 15.8 | 4 |
| May 25 | 13.7 | 16.9 | 13.4 | 4 |
| Jul 25 | 16.6 | 16.2 | 15.1 | 4 |
| Sep 25 | 24.4 | 19.4 | 24.5 | 2 |
| Nov 25 | 24.9 | 21.8 | 25.8 | 2 |
| Feb 26 | 31.3 | 24.1 | 28.9 | 2 |
| Apr 26 | 28.1 | 25.4 | 27.4 | 2 |
| Jun 26 | 41.3 | 29.4 | 36.4 | 2 |
| Jun 26 | 37.7 | 30.1 | 36.7 | 2 |
The business is losing money
Over 20 years, sales went from ₹1,229 Cr to ₹660 Cr (about −3% a year), and profit from ₹27.0 Cr to ₹−75.0 Cr.revenuenet_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY06 | 1,229 |
| FY07 | 1,529 |
| FY08 | 1,541 |
| FY09 | 1,449 |
| FY10 | 1,526 |
| FY11 | 1,942 |
| FY12 | 1,674 |
| FY13 | 1,309 |
| FY14 | 1,284 |
| FY15 | 1,058 |
| FY16 | 759 |
| FY17 | 729 |
| FY18 | 728 |
| FY19 | 644 |
| FY20 | 604 |
| FY21 | 766 |
| FY22 | 1,192 |
| FY23 | 1,110 |
| FY24 | 968 |
| FY25 | 747 |
| FY26 | 660 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY06 | 27 |
| FY07 | 36 |
| FY08 | 36 |
| FY09 | 8 |
| FY10 | 20 |
| FY11 | 29 |
| FY12 | -39 |
| FY13 | -31 |
| FY14 | -60 |
| FY15 | 1 |
| FY16 | -27 |
| FY17 | -19 |
| FY18 | 23 |
| FY19 | -4 |
| FY20 | -11 |
| FY21 | 2 |
| FY22 | -20 |
| FY23 | -12 |
| FY24 | -62 |
| FY25 | -2 |
| FY26 | -75 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY06 | 6.4 |
| FY07 | 5.8 |
| FY08 | 5.5 |
| FY09 | 3.7 |
| FY10 | 3.9 |
| FY11 | 4.1 |
| FY12 | 1.2 |
| FY13 | 0.3 |
| FY14 | -0.7 |
| FY15 | 3.8 |
| FY16 | -0.1 |
| FY17 | 4.7 |
| FY18 | 5.8 |
| FY19 | 2.6 |
| FY20 | 0.8 |
| FY21 | 1.8 |
| FY22 | 1.2 |
| FY23 | 0.5 |
| FY24 | -4.8 |
| FY25 | 1.1 |
| FY26 | -7.4 |
Sales fell hard 28% last quarter
Mar 26 sales were ₹144 Cr, down 28% on the same quarter last year.revenue
A shrinking topline puts the burden of the story on margins and one-offs — watch whether this is a pause or a slide.
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 183 | – |
| Sep 23 | 193 | – |
| Dec 23 | 295 | – |
| Mar 24 | 297 | – |
| Jun 24 | 228 | 24.6 |
| Sep 24 | 151 | -21.8 |
| Dec 24 | 167 | -43.4 |
| Mar 25 | 201 | -32.3 |
| Jun 25 | 141 | -38.2 |
| Sep 25 | 163 | 7.9 |
| Dec 25 | 212 | 26.9 |
| Mar 26 | 144 | -28.4 |
Margins are compressing — −0% → −11% in a year
Of every ₹100 of sales, the company keeps ₹−10.6 as operating profit (a year ago it kept ₹−0.2).opm_pct
The gross margin moved the same way (38% → 29%), so this is about input costs and pricing power — the raw-material equation worsened.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Jun 23 | 14.7 | -1.8 | -3.4 |
| Sep 23 | 15.2 | -1.6 | -3.3 |
| Dec 23 | 13.4 | 2.3 | 0.5 |
| Mar 24 | -4.2 | -15.5 | -17.2 |
| Jun 24 | 17.1 | 2.1 | 1.2 |
| Sep 24 | 24.1 | 3.7 | 0.9 |
| Dec 24 | 21.1 | -1.1 | -3.2 |
| Mar 25 | 37.6 | -0.2 | -0.5 |
| Jun 25 | 18.5 | -5.7 | -8.9 |
| Sep 25 | 47.5 | -10.6 | -13.7 |
| Dec 25 | 39.9 | -3.9 | -5.0 |
| Mar 26 | 28.7 | -10.6 | -10.8 |
The bottom line changed sign — read this one carefully
Mar 26 profit after tax was ₹−47.0 Cr, down 4,800% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | -6.0 | – |
| Sep 23 | -6.0 | – |
| Dec 23 | 2.0 | – |
| Mar 24 | -51.0 | – |
| Jun 24 | 0.0 | 100.0 |
| Sep 24 | 1.0 | 116.7 |
| Dec 24 | -5.0 | -350.0 |
| Mar 25 | 1.0 | 102.0 |
| Jun 25 | -12.0 | – |
| Sep 25 | -2.0 | -300.0 |
| Dec 25 | -13.0 | -160.0 |
| Mar 26 | -47.0 | -4,800.0 |
The single biggest driver was income outside the core business.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 1 |
| More sales | 0 |
| Thinner margins | −15 |
| Other income | −33 |
| PAT Mar 26 | -47 |
Does the profit turn into cash?
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY06 | 100 | 27.0 |
| FY07 | 45.0 | 36.0 |
| FY08 | 5.0 | 36.0 |
| FY09 | 49.0 | 8.0 |
| FY10 | 179 | 20.0 |
| FY11 | 32.0 | 29.0 |
| FY12 | 27.0 | -39.0 |
| FY13 | 25.0 | -31.0 |
| FY14 | 55.0 | -60.0 |
| FY15 | 44.0 | 1.0 |
| FY16 | 22.0 | -27.0 |
| FY17 | 50.0 | -19.0 |
| FY18 | 47.0 | 23.0 |
| FY19 | -15.0 | -4.0 |
| FY20 | -4.0 | -11.0 |
| FY21 | 15.0 | 2.0 |
| FY22 | 24.0 | -20.0 |
| FY23 | -9.0 | -12.0 |
| FY24 | -5.0 | -62.0 |
| FY25 | 31.0 | -2.0 |
| FY26 | -107 | -75.0 |
The cash cycle is stretching — more money stuck in the pipeline
One rupee now takes about 58 days to go out the door as materials and come back as collected cash — up from 27 days the year before.cash_conversion_cycle
The biggest mover: suppliers being paid sooner (172 → 137 days).payable_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY06 | 34.0 | 73.0 | 50.0 |
| FY07 | 26.0 | 74.0 | 42.0 |
| FY08 | 32.0 | 93.0 | 50.0 |
| FY09 | 28.0 | 70.0 | 33.0 |
| FY10 | 22.0 | 79.0 | 73.0 |
| FY11 | 32.0 | 86.0 | 91.0 |
| FY12 | 29.0 | 85.0 | 85.0 |
| FY13 | 38.0 | 87.0 | 66.0 |
| FY14 | 35.0 | 81.0 | 73.0 |
| FY15 | 43.0 | 131 | 117 |
| FY16 | 63.0 | 152 | 129 |
| FY17 | 63.0 | 141 | 118 |
| FY18 | 67.0 | 157 | 151 |
| FY19 | 68.0 | 166 | 138 |
| FY20 | 48.0 | 263 | 198 |
| FY21 | 55.0 | 202 | 184 |
| FY22 | 31.0 | 148 | 134 |
| FY23 | 29.0 | 104 | 82.0 |
| FY24 | 61.0 | 98.0 | 123 |
| FY25 | 74.0 | 124 | 172 |
| FY26 | 76.0 | 120 | 137 |
No big build-out underway — growth must come from what already exists
The productive asset base has gone from ₹221 Cr (FY06) to ₹72.0 Cr.fixed_assetscwip
The build is bigger than the cash engine: investing outflows (₹36.0 Cr) exceeded operating cash (₹−81.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY06 | 221 | 0.0 |
| FY07 | 218 | 0.0 |
| FY08 | 201 | 2.0 |
| FY09 | 191 | 26.0 |
| FY10 | 221 | 1.0 |
| FY11 | 212 | 2.0 |
| FY12 | 171 | 3.0 |
| FY13 | 159 | 14.0 |
| FY14 | 152 | 0.0 |
| FY15 | 127 | 0.0 |
| FY16 | 115 | 0.0 |
| FY17 | 114 | 0.0 |
| FY18 | 106 | 1.0 |
| FY19 | 101 | 0.0 |
| FY20 | 96.0 | 0.0 |
| FY21 | 87.0 | 5.0 |
| FY22 | 92.0 | 0.0 |
| FY23 | 87.0 | 0.0 |
| FY24 | 78.0 | 0.0 |
| FY25 | 72.0 | 0.0 |
| FY26 | 72.0 | 0.0 |
Debt is present but comfortable
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹33 — total borrowings have shrunk from ₹170 Cr to ₹78.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY06 | 170 |
| FY07 | 164 |
| FY08 | 200 |
| FY09 | 206 |
| FY10 | 134 |
| FY11 | 156 |
| FY12 | 159 |
| FY13 | 292 |
| FY14 | 268 |
| FY15 | 212 |
| FY16 | 199 |
| FY17 | 167 |
| FY18 | 50.0 |
| FY19 | 70.0 |
| FY20 | 80.0 |
| FY21 | 85.0 |
| FY22 | 68.0 |
| FY23 | 82.0 |
| FY24 | 104 |
| FY25 | 102 |
| FY26 | 78.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY06 | 0.8 |
| FY07 | 0.7 |
| FY08 | 0.8 |
| FY09 | 0.9 |
| FY10 | 0.5 |
| FY11 | 0.6 |
| FY12 | 0.7 |
| FY13 | 1.5 |
| FY14 | 1.9 |
| FY15 | 1.3 |
| FY16 | 1.4 |
| FY17 | 1.4 |
| FY18 | 0.2 |
| FY19 | 0.3 |
| FY20 | 0.4 |
| FY21 | 0.4 |
| FY22 | 0.3 |
| FY23 | 0.4 |
| FY24 | 0.8 |
| FY25 | 0.8 |
| FY26 | 0.3 |
Every ₹100 kept in the business earns just ₹−16
Return on capital employed is −16.0% (a year ago: 5.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY07 | 19.0 |
| FY08 | 16.0 |
| FY09 | 9.0 |
| FY10 | 10.0 |
| FY11 | 14.0 |
| FY12 | 0.0 |
| FY13 | -2.0 |
| FY14 | -5.0 |
| FY15 | 7.0 |
| FY16 | -3.0 |
| FY17 | 8.0 |
| FY18 | 13.0 |
| FY19 | 4.0 |
| FY20 | 0.0 |
| FY21 | 3.0 |
| FY22 | 3.0 |
| FY23 | -1.0 |
| FY24 | -20.0 |
| FY25 | 5.0 |
| FY26 | -16.0 |
Promoter holding dropped in one step — an event, not a slow exit
Promoters hold 40.5% (down 12.9 points over 8 quarters). Foreign funds own 0.1%, domestic funds 0.0%.promoters_pctfiis_pctdiis_pct
The promoter move came in a single step (Dec 25) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal.promoters_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 53.4 | 1.1 | 0.0 |
| Sep 23 | 53.4 | 1.0 | 0.0 |
| Dec 23 | 53.4 | 1.0 | 0.0 |
| Mar 24 | 53.4 | 0.0 | 0.0 |
| Jun 24 | 53.4 | 0.0 | 0.0 |
| Sep 24 | 53.4 | 0.0 | 0.0 |
| Dec 24 | 53.4 | 0.1 | 0.0 |
| Mar 25 | 53.4 | 0.2 | 0.0 |
| Jun 25 | 53.4 | 0.0 | 0.0 |
| Sep 25 | 53.4 | 0.0 | 0.0 |
| Dec 25 | 40.5 | 0.1 | 0.0 |
| Mar 26 | 40.5 | 0.1 | 0.0 |
- Foreign funds have neither piled in nor fled — their stake has held near 0.1% for 8 quarters. No smart-money signal, in either direction.fiis_pct
Interesting, not obvious
The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.
Best thing in the data: debt improving (0.81× → 0.33×).borrowings
Biggest worry: free cash flow falling (₹23.0 Cr → ₹−133 Cr).operating_cash_flow
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does MIRC Electronics Ltd do?
Incorporated in 1981, MIRC Electronics Ltd manufactures and trades consumer electronic products[1]. It is listed in the Consumer Electronics sector with a market capitalisation of ₹1,394 Cr.
What is MIRC Electronics Ltd's share price?
As of 17 June 2026, MIRC Electronics Ltd trades at ₹37.7, up 164% over the past year, with a market capitalisation of ₹1,394 Cr. Beating NIFTY 500 for 48 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is MIRC Electronics Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates MIRC Electronics Ltd's intrinsic value at ₹2.0 per share under base assumptions (bear ₹2.0, bull ₹3.0), against the current price of ₹37.7 — a 95% premium to model value. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did MIRC Electronics Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹144 Cr, down 28% on the same quarter last year. Mar 26 profit after tax was ₹−47.0 Cr, down 4,800% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is MIRC Electronics Ltd growing?
Sales fell hard 28% last quarter. Mar 26 sales were ₹144 Cr, down 28% on the same quarter last year.
Are MIRC Electronics Ltd's profits growing?
The bottom line changed sign — read this one carefully. Mar 26 profit after tax was ₹−47.0 Cr, down 4,800% year on year.
What are MIRC Electronics Ltd's operating margins?
Margins are compressing — −0% → −11% in a year. In the most recent quarter, of every ₹100 of sales, the company keeps ₹−10.6 as operating profit (a year ago it kept ₹−0.2).
What is MIRC Electronics Ltd's long-term growth record?
Revenue grew from ₹1,229 Cr in FY06 to ₹660 Cr in FY26 — a -3.1% compound annual growth rate over 20 years. Profit CAGR is not meaningful across this span — the company reported losses in FY12, FY13, FY14, FY16, FY17, FY19, FY20, FY22, FY23, FY24, FY25, FY26.
Is MIRC Electronics Ltd stock in an uptrend?
Stage 2: the trend is up, and has been for 44 weeks. MIRC Electronics Ltd is in Stage 2 — advancing, 44 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is MIRC Electronics Ltd stock rising?
The price is up 164% over the past year, in a confirmed Stage 2 uptrend (44 weeks), and has beaten NIFTY 500 for 48 weeks.
Is MIRC Electronics Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 48 weeks, as of 17 June 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is MIRC Electronics Ltd in its business cycle?
The data reads MIRC Electronics Ltd as a deep cyclical business currently in its in the downcycle phase — earnings at the bottom of their own historical range. Profits swing violently in this business — real losses in FY12 and FY13 and FY14 and FY16 and FY17 and FY19 and FY20 and FY22 and FY23 and FY24 and FY25 and FY26. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns MIRC Electronics Ltd — what is the promoter holding?
Promoters hold 40.5% (down 12.9 points over 8 quarters). Foreign funds own 0.1%, domestic funds 0.0%. The promoter move came in a single step (Dec 25) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal. Shareholding is from Screener's quarterly filings data.
Does MIRC Electronics Ltd have too much debt?
Debt is present but comfortable. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹33 — total borrowings have shrunk from ₹170 Cr to ₹78.0 Cr over the window.
What is the bull case for MIRC Electronics Ltd?
Profits are still 308% below their best year. Best thing in the data: debt improving (0.81× → 0.33×). Sales fell hard 28% last quarter.
What is the bear case for MIRC Electronics Ltd — what could break the story?
Biggest worry: free cash flow falling (₹23.0 Cr → ₹−133 Cr). Two quarters of debt reversing would kill this story. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is MIRC Electronics Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: interesting, not obvious. The numbers are genuinely mixed, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is on watch at 45% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.