The shares of the leading LED Video display manufacturer gained up to 1 percent after the company received a letter of acceptance from the Mysuru Division of the South-Western Railway Zone.
With a market capitalization of Rs 967.72 crore, the shares of MIC Electronics Ltd were trading at Rs 43.79 per share, decreasing around 2.15 percent as compared to the previous closing of Rs 44.75 apiece.
According to the company filing, MIC Electronics Ltd has received a letter of acceptance from the Mysuru Division of the South-Western Railway Zone for the enhancement of passenger amenities in connection with the Provision of an Integrated Passenger Information System at Mysuru Division. the aggregate value for the work order is Rs 1.76 crore.
Looking into MIC Electronic’s performance, revenue increased by 268 percent from Rs 2.08 crore in Q2FY23 to Rs 10.31 crore in Q2 FY24. During the same period, net profit increased from a loss of Rs 0.01 crore to a profit of Rs 8.80 crore.
During the year of FY22-23, sales from LED lighting including Solar LED Street lights, and sales from LED display boards were to the tune of Rs 1.37 crore. The revenue generated from the E-Vehicles was Rs 3.55 crore. The revenue generated from AMC contracts in Indian Railways and other private agencies was Rs 0.58 crore.
The stock has delivered returns of 44.08 percent in the last six months and a multi-bagger return of 250.40 percent. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.50 lakh in a year.
Looking at the key financial measures, the return on equity (ROE) was 0.41 percent during FY22-24, while the return on capital employed (ROCE) was 1.41 percent over the same period. In contrast, the net profit margin (NPM) was 1.13 percent in fiscal year 22-23.
MIC Electronics is a global leader in the design, development, and production of LED video displays, high-end electrical and telecommunications equipment, and telecom software.
Written by:- Abhishek Singh
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