MIRC Electronics Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, revealing mixed performance with revenue growth offset by increased losses. The consumer durables company reported a net loss of ₹1,311 lakhs for Q3 FY26 compared to ₹527 lakhs in the corresponding quarter of the previous year.

Financial Performance Overview

The company's quarterly performance showed significant revenue growth despite operational challenges. Total income for Q3 FY26 reached ₹21,549 lakhs, representing an increase from ₹16,939 lakhs in Q3 FY25.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, MIRC Electronics reported a net loss of ₹2,738 lakhs compared to ₹348 lakhs in the corresponding period of the previous year. Total income for the nine-month period stood at ₹52,212 lakhs against ₹55,285 lakhs in the previous year.

Expense Structure and Operational Metrics

The company's expense structure revealed significant changes in operational components. Purchases of traded goods increased substantially to ₹16,009 lakhs in Q3 FY26 from ₹9,497 lakhs in Q3 FY25. Project bought outs and other direct costs amounted to ₹5,963 lakhs in the current quarter compared to nil in the previous year quarter.

Employee benefits expense for Q3 FY26 was ₹1,466 lakhs compared to ₹1,593 lakhs in Q3 FY25. Finance costs stood at ₹420 lakhs versus ₹448 lakhs in the corresponding previous quarter.

Exceptional Items and Capital Structure

The company reported exceptional items of ₹249 lakhs in Q3 FY26, which was netted against an exceptional gain of ₹2,056 lakhs recognized in Q2 FY26 from property sale. The net exceptional gain for the nine-month period was ₹1,807 lakhs.

The paid-up equity share capital increased significantly to ₹3,696 lakhs as of December 31, 2025, from ₹2,311 lakhs in the previous year, reflecting the capital raising activities undertaken during the year.

Fund Raising and Utilization

MIRC Electronics successfully completed a preferential issue of 8,89,49,900 equity shares at ₹16.81 per share, raising ₹14,952 lakhs. The monitoring agency Acuité Ratings & Research Limited confirmed no deviation in fund utilization.

The unutilized amount of ₹4,500 lakhs has been parked in liquid mutual funds, earning an annualized return of 5.95%. The company also issued non-convertible debentures worth ₹6,000 lakhs in the previous quarter for working capital purposes.

Earnings Per Share and Outlook

The basic and diluted earnings per share after exceptional items stood at ₹0.36 loss per share for Q3 FY26 compared to ₹0.23 loss per share in Q3 FY25. For the nine-month period, the loss per share was ₹0.93 compared to ₹0.15 in the previous year.

The company operates in the consumer durables segment and has structured its operations into one reportable segment. The financial results were reviewed by the audit committee and approved by the board of directors on February 11, 2026.

MIRC Electronics Limited has announced a significant leadership appointment, naming Mr. Gunjan Srivastava as Chief Executive Officer effective 1st February, 2026. The appointment was approved by the Board of Directors during their meeting held on 30th January, 2026, following recommendations from the Nomination and Remuneration Committee.

Board Meeting and Appointment Details

The Board meeting commenced at 03:08 PM and concluded at 3:40 PM on 30th January, 2026. The appointment was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background and Experience

Mr. Srivastava brings extensive leadership credentials to his new role at MIRC Electronics. He holds a B. Tech (Hons.) in Mechanical Engineering from IIT (BHU), Varanasi (1989), and an MBA from IIM Ahmedabad (1990–1992). His professional journey spans over 33 years across leading global consumer and technology-led brands.

Key Areas of Expertise

Mr. Srivastava's experience encompasses several critical business domains:

• Strategy development and implementation
• P&L leadership and management
• Go-to-market strategies
• Digital transformation initiatives
• Brand building and consumer marketing
• Operational excellence across multiple geographies

Recent Leadership Roles

Most recently, Mr. Srivastava served as Chief Executive Officer of BSH Home Appliances UK & Ireland for nearly six years. During his tenure, he successfully led the business through complex external challenges, including Brexit-related disruptions and post-pandemic market conditions.

Prior to his role at BSH, he held the position of Managing Director at Sennheiser Electronics India. His career also includes senior leadership positions across renowned organizations including Philips, Gillette, Wipro, and Apollo Healthcare, where he developed deep expertise in consumer marketing, sales and distribution, business management, and brand-led growth strategies.

Geographic Experience

Throughout his career, Mr. Srivastava has demonstrated his ability to drive profitable growth across diverse markets, with proven track records in:

• India
• Asia-Pacific region
• European markets

This extensive geographic experience positions him well to lead MIRC Electronics' strategic initiatives and growth plans in the competitive consumer electronics market.