Semiconductor stock engaged in the business of design, development & manufacturing of LED Video Displays, high-end Electronic and telecommunication equipment and many more hit a 5 percent upper circuit upon posting its Q4FY24 results with a 42,372 percent jump in Net Profits
With a market capitalization of Rs. 1,155.95 Crores, the shares of MIC Electronics Limited were trading at Rs. 52.20, up 4.57 percent from its previous day’s close price of Rs. 49.92.
Its revenue from operations grew by 676 percent YoY from Rs. 2.96 Crores in Q4FY23 to Rs. 22.96 Crores in Q4FY24 and it grew by 31.35 percent QoQ from Rs. 17.48 Crores in Q3FY24 to Rs. 22.96 Crores in Q4FY24. Annually it generated a revenue of Rs. 5.89 Crores in FY23 and Rs. 54.57 Crores in FY24 indicating a growth of 826.48 percent YoY.
Its Net Profit grew by 1949 percent from Rs. 2.42 Crores in Q4FY23 to Rs. 49.59 Crores in Q4FY24 and it grew by 1,730 percent QoQ from Rs. 2.71 Crores in Q3FY24 to Rs. 49.59 Crores in Q4FY24. Annually it generated a profit of Rs.14.56 Lakhs in FY23 and Rs. 61.83 Crores in FY24 indicating a growth of 42,372 percent YoY.
In Addition, it has recently received a work order worth Rs. 1.47 Crores from the Malda Division of Eastern Railway Zone for the replacement of CIB, TIB of PF No: 1, 4&5, and passenger amenities at Bhagalpur Station of the Malda Division.
MIC Electronics Limited is engaged in the business of design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment, development of Telecom software, oxygen concentrators, batteries, and many more. It is directly or indirectly involved in the semiconductor industry as it specializes in semiconductor packaging and testing solutions.
Additionally, MIC Electronics is looking to enter the domestic electric vehicle (EV) ecosystem, focusing on areas like LED display boards, Railways Passenger Information Systems (PIS), and EV batteries.
It has a strong clientele base with well-known players like L&T Ltd, Indian Railways, Bharat Electronics, Indian Oil, Mahindra, Bharat Dynamics, BHEL, Maruti Suzuki, LIC, Reliance Industries and many others.
Written by: Bharath K.S
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