MIRC Electronics Limited — Important, 25-07-2025: Updates

MIRC Electronics reported FY24-25 revenue of ₹746.69 Cr, with net loss before tax significantly improving to ₹(2.30) Cr from ₹(62.21) Cr. No dividend was declared. The Board plans a ₹50 Cr Rights Issue. Mr. Gulu Mirchandani became Chairman Emeritus, with Mr. Vijay Mansukhani taking over as Chairman & MD.

The company secured a major ₹54.25 Cr ICT lab contract with the UP Government, recognizing ₹43.76 Cr revenue. Product innovations include new QLED TVs and advanced ACs, boosting AC sales by 55%. Auditors flagged internal control weaknesses in balance confirmations and contract documentation, which MIRC is addressing. A ₹3.19 Cr EPR expense was booked, with a ₹11.81 Cr difference under review.