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MIC Electronics Limited
Sector:Engineering Engineering - Electronics
BSE:532850NSE:MICBloomberg:MICE@INReuters:MELC.BO
Market Lot: 1Face Value: 2ISIN Demat: INE287C01029
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08-Sep-2016
Business Profile
MIC Electronics (MIC) was incorporated as a private company on May 17, 1988 by Venkata Ramana Rao Maganti, the managing director and CEO of the company. Consequently, it was converted into a public company on July 29, 1997. MIC Electronics is a global leader in the design, development and manufacture of LED video displays, high-end electronic and telecommunication equipment, and development of telecom software since 1988. In the year 2000, Phoenix Telecommunications was merged into the company.

MIC business is divided broadly into media, infotech, and communication and electronics. The ISO 9001: 2000 certified company has a marked presence in the highly dynamic domains of LED video, graphics and text displays; LED lighting solutions; embedded, system, and telecom software; communication and electronic products. MIC Electronics flagship products are LED video displays (indoor/outdoor/mobile) that have become an integral part of sports stadiums, transportation hubs, digital theatres and theme parks, advertisements and public information displays.

Subsidiaries include MIC Technologies (AUST), and on acquiring InfoSTEP Inc., USA (50.01%) formed InfoSTEP India. Headquartered in Hyderabad, MIC Electronics has nationwide presence in the form of a vast network of marketing, sales and service support centers in all metros of India. To meet the demand of its products worldwide, it has offices in Australia, Dubai and USA. Now the company is gradually setting up operations in other international markets.


Financials
The company disclosed rise of 158.16% in consolidated net profit on y-o-y basis to Rs 22.10 million, while total income rose 35.07% y-o-y basis to Rs 558.10 million for the quarter ended December 2015.

Recent Developments
07-SEP-16
MIC Electronics has received a much awaited patent for its 'LED Digi-poster', the key for next generation digital display technology for various applications across the world. This patent is valid up to the year 2028.

22-APR-13
MIC Electronics, a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software, Hyderabad, India and Leyard Oproelectronics, Beijing, China announced that they are entering into strategic alliance.

01-MAR-13
MIC Electronics announced the company has signed an agreement with the Nashik Municipal Corporation (NMC) to replace 69,541 street lights across the city with energy saving LED luminaries.

11-AUG-11
MIC Electronics has consolidated posted net profit of Rs 76.9 million for the quarter ended June 30, 2011 as compared to Rs 183 million for the quarter ended June 30, representing falls of 57.98%

17-DEC-10
MIC Electronics, Hyderabad based pioneers of LED Display and lighting products, completes 25 years of its operations in December 2010. These years have been very fulfilling to the company during which

25-NOV-10
MIC Electronics has signed a definitive agreement with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for supplying LED solar street lighting systems worth Rs 66.3 million.

27-OCT-10
MIC Electronics, global leader in design, development & manufacturing of LED lighting and LED displays systems, has posted 45% growth in its net profit at 166.5 million as compared to 114.8 million in the corresponding period of the previous year.

11-OCT-10
MIC Electronics, leading LED lightings and displays maker today announced that it has entered into an agreement to subscribe the equity capital of the Avni Energy Solutions to acquire 51% of the stake in the company.



Future Plans
The company plans to foray into the following areas:

Theme parks with outdoor digital theaters and stereo displays.
Increase the scope of applications of LED display screens, semi retail applications of LEDs.
LED lighting systems for application in the areas of automotive lighting, entertainment lighting, general lighting, landscape lighting, and portable lighting.
To enter global markets with the acquisition of InfoSTEP, USA.

MIC plans are to increase per month revenues of rental by Rs 30 million. Along with this the company is planning a boot operation of LED lighting installations in India in most of the municipalities, plus also infrastructure building for digital billboards, that is conversion of vinyl to digital billboards. All these vinyl boards will be converted into digital billboards, at and there is a huge market for it in the coming five-ten years.

In Brief

 
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