Corporate Performance     

Published: November 15, 2024
Updated: November 15, 2024

MIC Electronics Ltd

Gratifying show for Q2FY25, EBITDA grows 37.56% QoQ

MIC Electronics Limited (BSE: 532850, NSE: MICEL), a global leader in the design, development, and manufacturing of LED video displays, has announced earnings for the quarter and half year endd 30 September 2024.

For the quarter ended 30 September 2024, revenue from operations grew by 156.26% from Rs. 1071.46 lakhs in Q1FY25 to Rs. 2745.67 lakhs in Q2FY25. EBITDA increased by 37.56% from Rs. 281.24 lakhs in Q1FY25 to Rs. 286.86 lakhs in Q2FY25, with EBITDA margins increasing from 2.79% to 13.97% in by 1118 bps. PAT moved up by 8.18% from Rs. 196.52 lakhs in Q1FY25 to Rs. 212.59 lakhs in Q2FY25.

The company further incorporated wholly owned subsidiary namely MICK Digital India Ltd. The subsidiary will function to Manufacture and deal in all types of smart meters, digital meters, roof mounted AC package units (RMPU), integrated power supply (IPS) systems, mini computers, microprocessor based systems and computer peripherals.

Recently, the board approved the appointment of Mr. Penumaka Venkata Ramesh as additional director of the company in the non-executive independent category for a term of 5 years, subject to approval of members. Mr. PV Ramesh brings over 40 years of senior executive leadership across governments, international organizations, and corporate enterprises in regions including Asia Pacific, Europe, and Africa.

Previously, it had received a letter of acceptance from the Salem Division of the Southern Railway Zone for the provision of telecom based passenger amenities at SGE, SA and provision of FIOSNET at ELS, Erode. The company also received a Letter of acceptance from the Ratlam Division of the Western Railway Zone for supply, installation, testing and commissioning of telecom material in connection with Providing 12 m wide foot overbridge to connect PF under Amirit Bharat Station Scheme (ABSS) at 14 stations.

Earlier, the company reported stellar earnings for the quarter ended 30 June 2024 (Q1FY25). For the quarter ended 30 June 2024, the company reported its revenue from operations at Rs. 1071.46 lakhs, a growth of 53% YoY. The EBITDA jumped 32% YoY, from Rs. 212.26 lakhs (Q1FY24) to Rs. 281.24 Lakhs (Q1FY25). The PAT rose 59% YoY, from Rs. 123.60 lakhs (Q1FY24) to Rs. 196.52 lakhs (Q1FY25). PAT margin was reported at 17.98%, recording a growth of 45 bps YoY.

The company has also earlier announced that it has developed GPS (Global Positioning System) Based Public Address System (PA), Passenger Information System (PIS) (“PAPIS”) & LED Destination boards for New and existing LHB/ICF type AC and Non AC Coaches including Pantry Car and Power Car as per the Research Designs and Standards Organization (RDSO) Spec. No. RDSO/CG-18001 (Rev.2) and applied for Capacity Cum Capability Assessment (CCA).

MIC Electronics Limited is a global leader in the design, development, and manufacturing of LED video displays, high-end electronic and telecommunication equipment, and the development of telecom software since 1988. An ISO 9001:2008 and ISO 14001:2004 certified company, it has established a strong presence in the dynamic fields of LED Video, Graphics, and Text Displays, LED Lighting Solutions, Embedded, System, and Telecom Software and Communication and Electronic Products.

MIC’s flagship products, LED video displays (indoor, outdoor, and mobile), have become integral to sports stadiums, transportation hubs, digital theatres, theme parks, advertisements, and public information displays

Headquartered in Hyderabad, one of India’s fastest-growing IT cities, MIC has a nationwide presence through a vast network of marketing, sales, and service support centers in all major metropolitan areas of India. The company is also expanding its operations into international mark

MIC has been a pioneer in developing and implementing a wide range of products and services in LED displays, telecom software, IT services, and communication and electronic products. Among its many achievements, MIC is notably the first company to receive TEC approval for its indigenous telecom equipment, the Digital Loop Carrier. Since venturing into the export market in 1994 and beginning on-shore software development contracts in 2005, MIC’s accomplishments reflect its expertise, profound market knowledge, and commitment to innovation.