MIRC Electronics Limited has approved the grant of 16,00,000 stock options to eligible employees under its Employee Stock Option Plan 2023. The decision was taken by the company's Compensation Committee during a meeting held on May 20, 2026. This move aims to incentivize employees through equity ownership in the company.

Each stock option granted under this scheme entitles the holder to one equity share of Re. 1 upon exercise. The scheme is compliant with the SEBI (SBE) Regulations, 2014. The company stated that the total number of shares covered by these options amounts to 16,00,000 equity shares.

Pricing and Vesting Details

The pricing for the options involves a formula based on the market price. The exercise price will be calculated at a 30% discount to the closing share price as of April 16, 2026. However, the company has set a floor price, ensuring the exercise price is not lower than Rs. 16.81 per share.

The vesting of these options is contingent upon the achievement of specific performance milestones. Additionally, there is a mandatory minimum vesting period of one year from the date of the grant. The specific conditions are detailed in the Letter of Grant provided to the employees.

Exercise Period

Once the options vest, employees have a defined window to exercise them. The vested options can be exercised anytime within two years from the vesting date, provided the option grantee remains employed with the company. This structure is designed to retain talent and align employee interests with the company's long-term performance.

MIRC Electronics Limited has reported its audited financial results for the fourth quarter and financial year ended March 31, 2026. The company recorded a net loss of ₹7,474 lakh for the full year, significantly wider than the net loss of ₹230 lakh in the previous year. Revenue from operations declined to ₹66,001 lakh for the year ended March 31, 2026, from ₹74,669 lakh in the corresponding period last year.

For the quarter ended March 31, 2026, the company posted a net loss of ₹4,736 lakh, compared to a net loss of ₹12 lakh in the same quarter of the previous year. Revenue from operations for the quarter stood at ₹14,381 lakh, a decrease from ₹20,072 lakh in the year-ago quarter. Total income for Q4 was ₹14,871 lakh, while total expenses amounted to ₹16,428 lakh. Loss before tax for Q4 stood at ₹1,557 lakh, compared to a loss of ₹105 lakh in the same quarter of the previous year.

Financial Performance

The financial results include exceptional items for the quarter ended March 31, 2026, amounting to an exceptional loss of ₹3,179 lakh, compared to an exceptional gain of ₹223 lakh in the same quarter of the previous year. For the full year, exceptional items totalled ₹1,372 lakh, comprising restructuring costs of ₹240 lakh, an inventory write-down of ₹2,939 lakh, and a gain on the sale of non-core assets of ₹2,056 lakh. The company stated that these initiatives were part of its ongoing restructuring and business transformation exercise aimed at rationalizing operations and improving liquidity.

The following table summarises the full-year financial performance:

The following table summarises key Q4 metrics:

Strategic Developments

During the year, the company undertook several fund-raising initiatives to strengthen its liquidity position. This included the issue of 12% Non-Convertible Debentures aggregating ₹6,000 lakh, a Rights Issue of equity shares aggregating ₹4,948 lakh, and a Preferential Allotment of equity shares aggregating ₹14,952 lakh. Consequently, the paid-up equity share capital increased to ₹3,696 lakh as of March 31, 2026, from ₹2,311 lakh in the previous year.

Board Decisions

The Board of Directors, at its meeting held on May 20, 2026, approved the audited financial statements. Additionally, the board approved the appointment of M/s. M M Nissim & Co LLP as statutory auditors for a first term of five consecutive years, subject to shareholder approval. The auditors have issued an unmodified opinion on the financial results.