Shares of MIC Electronics Ltd. appreciated on Tuesday, recording an increase of 5%, as its share price rose to Rs 102.24 from its previous close of Rs 97.61. This marked an impressive performance for the company, which has shown substantial growth over the past five years, delivering multibagger returns of 460%. With a 52-week high of Rs 114.79 and a low of Rs 27.05, MIC Electronics holds a market capitalization of Rs 2,230 crore.

Recently, MIC Electronics has been able to win some orders due to several factors including orders from Indian Railways. Last month, the company announced that it had been awarded a Letter of Acceptance by the Ratlam Division of Western Railway. This project entails the installation and commissioning of telecom passenger amenities located at SGE, SA medium stations & provision of FIOSNET at ELS, Erode. According to the exchange notification, the contract sum stands at Rs 1.33 crores.

Earlier in the year, MIC Electronics received another order worth Rs 86.44 lakh. Preparatory works are subject to any so-called to take place under the announced contracts completion of both projects is planned within 10 months from the day of this parliament within the end of order placement and this will drive the company’s revenue quite high in future.

The company is also assisting with the improvement of the passenger services as far as Indian Railways are concerned, in preparation for the Mahakumbh 2025. MIC Electronics has been awarded a Letter of Acceptance from the unlucky Division of Northern Railway Zone for the execution of an Integrated Passenger Information System in all leading stations. These include PRG, PYGS and PFM station which are very vital in managing the stream of incoming visitors comprising of pilgrims during the Mahakumbh festival. This contract which is worth Rs 2.54 crore will be completed in a period of nine months making MIC Electronics a competitive player in the advancement of the railway system in India.

MIC Electronics equally bagged strong business development in the last few quarters. As of the end of June 30, 2023, the company has netted a net income of Rs 10.93 crores an increase of 52.22% YOY from Rs 7.18 crores for the same period from a year ago. The corporation has registered positive earnings bottom line and has swelled to 1.96 crores in Q1 FY2024-25 upwards 59.34% YOY from 1.23 crores only.

Tracing back its origin to 1988, MIC Electronics has developed into one of the largest manufacturers of LED display products. The companyâ€^TMs areas of specialization include products created with a variety of video and animation as well as text and graphics and even video walls both for indoor and outdoor use. These products are on renting services such as lease, which are necessary for the various customers in various industries. Apart from LED displays, other lighting products such as indoor, outdoor and solar lighting are available. Further, the company has a line for telecommunications equipment and software production thus widening its range of products.

Story first published: Tuesday, October 1, 2024, 15:10 [IST]