MIRC Electronics, the company behind Onida, has approved a preferential share issue to raise ₹149.50 crore by issuing 8.89 crore equity shares at ₹16.81 each to four investors. Post-allotment, these investors will hold about 24% of the company's equity. The company also reported Q1 financial results with a revenue of ₹140.85 crore and a net loss of ₹12.49 crore. This capital raise follows earlier fundraising efforts, including a rights issue and approval for NCDs worth up to ₹60 crore.
MIRC Electronics, known for Onida brand, reported a net loss of 12.49 crore rupees in Q1 FY2026, up from 0.44 crore rupees loss year-over-year. Revenue declined 38.17% to 140.85 crore rupees. The company plans to issue up to 8,89,49,900 preferential shares at 16.81 rupees each to raise capital. Board approval obtained for the issue, with Authum Investment & Infrastructure Limited as the largest allottee. Additional corporate actions include completion of a rights issue and issuance of non-convertible debentures.
08Aug 25
MIRC Electronics: Promoter Group Entities Boost Stakes in Rights Issue
MIRC Electronics, the company behind Onida, has completed a rights issue dated August 6, 2025, increasing its equity share capital from 23,09,52,619 to 28,04,42,464 shares. Key promoter entities GLM Family Trust and Gulita Securities Limited acquired additional shares, maintaining their stakes at 23.24% and 11.79% respectively in the enlarged capital. The company has scheduled a board meeting for August 13, 2025, to approve Q2 results and discuss potential fund-raising options.
20May 25
MIRC Electronics Reports Improved Q4 Results, Swings to Profit
MIRC Electronics released Q4 financial results, showing a significant turnaround in profitability despite revenue decrease. Revenue fell 32.7% YoY to ₹2.00 billion. The company narrowed its Loss Before Tax to ₹10.50 million from ₹511.10 million last year. Notably, it reported a standalone net profit of ₹11.80 million, reversing the ₹511.00 million loss from the previous year. An exceptional item of ₹22.30 million was included in the results.