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MIRC Electronics Q3 Revenue Rises 27% YoY to ₹212 Cr; Net Loss Widens to ₹13.1 Cr
MIRC Electronics reported a 27% year-on-year revenue growth to ₹212.04 crore for Q3 FY26. However, the company's net loss widened significantly to ₹13.10 crore from ₹5.47 crore in the previous year, impacted by higher operational expenses and a ₹2.48 crore exceptional charge for labor code adjustments. The company successfully raised ₹149.52 crore via preferential allotment during the period, with ₹45 crore still held in liquid mutual funds. An independent monitoring agency confirmed no deviation in the utilization of these funds.
Key Highlights
Revenue from operations grew 27.1% YoY to ₹212.04 crore in Q3 FY26.
Net loss widened to ₹13.10 crore compared to a loss of ₹5.47 crore in Q3 FY25.
Raised ₹149.52 crore through preferential allotment; ₹86.13 crore utilized for working capital and ₹18.39 crore for general corporate purposes.
Exceptional item of ₹2.48 crore recorded due to one-time gratuity and leave liabilities under New Labour Codes.
Promoter holding diluted from 53.36% to 40.51% following the preferential equity issuance.
💼 Action for Investors
Investors should remain cautious as the company continues to report losses despite substantial capital infusion and revenue growth. Monitor if the new capital structure and remaining ₹45 crore cash reserve can drive a turnaround in profitability in the coming quarters.
MIRC Electronics Q3 Revenue Grows 27% YoY to ₹212 Cr; Net Loss Widens to ₹13.1 Cr
MIRC Electronics (Onida) reported a 27.1% YoY increase in revenue for Q3 FY26, reaching ₹21,204 Lakhs. Despite the top-line growth, the company's net loss widened to ₹1,311 Lakhs from ₹759 Lakhs in the same quarter last year, primarily due to rising operational costs and an exceptional loss of ₹249 Lakhs. The company significantly strengthened its balance sheet by raising ₹14,952 Lakhs through a preferential allotment, though this resulted in promoter shareholding diluting from 53.36% to 40.51%. Currently, ₹4,500 Lakhs of the raised funds remain unutilized and are parked in liquid mutual funds.
Key Highlights
Revenue from operations increased to ₹21,204 Lakhs in Q3 FY26 from ₹16,681 Lakhs in Q3 FY25.
Net loss for the quarter widened to ₹1,311 Lakhs compared to a loss of ₹759 Lakhs in the previous year.
Raised ₹14,952 Lakhs via preferential allotment of 8.89 crore shares at ₹16.81 per share.
Promoter holding decreased significantly to 40.51% from 53.36% post-equity dilution.
Exceptional item of ₹249 Lakhs recorded for gratuity and leave liabilities under New Labour Codes.
💼 Action for Investors
Investors should remain cautious as the company continues to struggle with profitability despite strong revenue growth. Monitor if the significant capital infusion leads to a turnaround in margins or if the equity dilution remains a drag on per-share value.
MIRC Electronics Q3 Revenue Up 27% YoY to ₹212 Cr; Net Loss Widens to ₹13.1 Cr
MIRC Electronics (Onida) reported a 27.1% YoY revenue growth to ₹212.04 crore for the quarter ended December 31, 2025. However, the company's net loss widened significantly to ₹13.11 crore from a loss of ₹7.59 crore in the same period last year. During the quarter, the company completed a massive ₹149.52 crore preferential allotment, which led to a significant dilution in promoter holding from 53.36% to 40.51%. An exceptional loss of ₹2.49 crore was also booked due to liabilities arising from new labor codes.
Key Highlights
Revenue from operations increased 27.1% YoY to ₹212.04 crore in Q3 FY26.
Net loss widened to ₹13.11 crore compared to a loss of ₹7.59 crore in Q3 FY25.
Raised ₹149.52 crore through preferential allotment, with ₹45 crore currently parked in liquid mutual funds.
Promoter shareholding diluted significantly to 40.51% from 53.36% post-equity issuance.
Exceptional charge of ₹2.49 crore recognized for gratuity and leave liabilities under new labor codes.
💼 Action for Investors
Investors should exercise caution as the company remains loss-making despite a significant capital infusion and healthy revenue growth. The primary focus should be on whether the management can leverage the new capital to achieve operational break-even in the near term.
MIRC Electronics Shareholders Approve ESOP Changes and Auditor Appointment with 99.99% Majority
MIRC Electronics Limited successfully passed three key resolutions during its Extraordinary General Meeting held on January 16, 2026. Shareholders overwhelmingly approved modifications to the 2023 Employee Stock Option Plan (ESOP) and a revision in the remuneration of Whole Time Director Mr. Shirish Suvagia, both with 99.99% support. Furthermore, the appointment of new Statutory Auditors to fill a casual vacancy was ratified by the members. These results demonstrate strong institutional and retail shareholder backing for the company's current leadership and governance policies.
Key Highlights
Modification of ESOP 2023 Scheme approved with 149,775,998 votes in favor (99.99%).
Remuneration revision for Whole Time Director Mr. Shirish Suvagia passed with 99.99% majority.
Statutory Auditor appointment to fill casual vacancy approved with 149,776,012 votes in favor.
All resolutions were passed as Special or Ordinary resolutions with requisite majorities via e-voting.
💼 Action for Investors
The overwhelming support for management proposals suggests high internal stability; investors should monitor how the ESOP changes impact future talent retention and potential equity dilution.
MIRC Electronics Approves ESOP 2023 Modification and Appoints New Statutory Auditors
MIRC Electronics held an Extra Ordinary General Meeting (EOGM) on January 16, 2026, where shareholders approved two significant resolutions. The company received approval to modify its Employee Stock Option Plan (ESOP) 2023 Scheme, likely to better align employee incentives. Additionally, M M Nissim & Co LLP was appointed as the new Statutory Auditor to fill a casual vacancy following the resignation of ASA & Associates LLP. The new auditors will hold office until the conclusion of the next Annual General Meeting and will audit the financial results for FY 2025-26.
Key Highlights
Shareholders approved the modification of the MIRC Electronics Employee Stock Option Plan 2023 Scheme at the EOGM held on Jan 16, 2026.
M M Nissim & Co LLP appointed as Statutory Auditors to fill the vacancy caused by the resignation of ASA & Associates LLP.
The new auditor appointment is effective for the Financial Year ending March 31, 2026.
M M Nissim & Co LLP is a multi-disciplinary firm established in 1946 with a PAN-India presence and a valid Peer Review certificate.
💼 Action for Investors
Investors should note the change in auditors and monitor if any specific reasons for the previous auditor's resignation were cited in prior disclosures. The ESOP modification indicates a focus on employee retention, which is a standard corporate practice.
MIRC Electronics Appoints New Statutory Auditors for FY2026; Modifies ESOP 2023 Scheme
MIRC Electronics held an Extra Ordinary General Meeting on January 16, 2026, where shareholders approved the appointment of M M Nissim & Co LLP as the new Statutory Auditors. This appointment fills a casual vacancy created by the resignation of the previous auditors, ASA & Associates LLP. The new auditors will hold office until the next Annual General Meeting and will conduct the audit for the financial year ending March 31, 2026. Additionally, the company received approval to modify its Employee Stock Option Plan (ESOP) 2023 scheme.
Key Highlights
Appointment of M M Nissim & Co LLP as Statutory Auditors approved at EOGM on January 16, 2026.
The new firm fills a casual vacancy following the resignation of ASA & Associates LLP.
M M Nissim & Co LLP, established in 1946, will conduct the audit for the financial year ending March 31, 2026.
Shareholders also ratified modifications to the MIRC Electronics Employee Stock Option Plan 2023 Scheme.
💼 Action for Investors
Investors should monitor for any specific disclosures regarding the reasons for the previous auditor's resignation to ensure there are no underlying accounting concerns. The transition to an established firm like M M Nissim & Co LLP is a standard procedure to maintain regulatory compliance.
MIRC Electronics EGM on Jan 16 to Approve 4.10 Cr ESOP Shares and New Auditor
MIRC Electronics has called for an Extraordinary General Meeting (EGM) on January 16, 2026, to seek shareholder approval for significant corporate actions. The primary agenda includes modifying the ESOP 2023 scheme to grant up to 4,10,43,596 equity shares, representing a potential dilution of the existing share capital. Additionally, the company is proposing a remuneration revision for Whole Time Director Shirish Suvagia and the appointment of M/s. M M Nissim & Co LLP as Statutory Auditors to fill a casual vacancy. The auditor change follows the resignation of the previous firm, ASA & Associates LLP.
Key Highlights
EGM scheduled for January 16, 2026, to approve ESOP modifications and auditor appointment.
Proposed ESOP 2023 modification involves granting up to 4,10,43,596 equity shares of Re. 1 each.
Appointment of M/s. M M Nissim & Co LLP as Statutory Auditors following the resignation of ASA & Associates LLP.
Revision of remuneration for Whole Time Director Mr. Shirish Suvagia effective from January 1, 2026.
Cut-off date for e-voting eligibility is January 9, 2026, with voting starting January 13, 2026.
💼 Action for Investors
Investors should evaluate the potential equity dilution from the 4.10 crore ESOP shares and monitor the reasons behind the statutory auditor's resignation for any governance red flags.