About MIRC Electronics Limited

MIRC Electronics Limited operates as an Indian consumer durables business through its Onida brand which remains its most recognized product line. The company produces various display products and air conditioners and washing machines and refrigerators and related items while generating service income and job work charges from its operating activities. The company dedicated its recent product development efforts to launch different LED TV models which include HD, FHD, UHD, QLED and QLED with 120Hz panels and Mini LED segments for its market expansion into energy-efficient and feature-rich television products.

The company operates three manufacturing facilities at Wada in Palghar district Maharashtra and Roorkee – Plant II in Haridwar district Uttarakhand and Chiplun in Ratnagiri district Maharashtra to support its nationwide distribution network. The company operates as one single operating segment for Consumer Durable products in its financial reports and does not present separate geographical segments.

MIRC Electronics operates without any subsidiaries or associates or joint ventures because its corporate structure remains uncomplicated and its disclosure requirements are minimal. The company operates as a consumer durables business in India through its Onida brand since its Forty-Fourth Annual Report was published.

MIRC Electronics Limited Key Management

• Vijay Mansukhani serves as the Chairman and Managing Director of the company since May 21, 2025.
• Kaval Mirchandani – Whole-time Director
• Shirish Suvagia serves as the Chief Financial Officer and Whole-time Director and Head of Legal and Corporate Affairs and Company Secretary.
• Prasad Oak serves as the Head of Legal and Corporate Affairs and Company Secretary.

Latest Updates on MIRC Electronics Limited

• The Board of Directors authorized a rights-based capital increase of Rs 50,00,00,000 on September 2, 2024. The company obtained initial BSE Limited approval on February 18, 2025 and National Stock Exchange of India Limited approval on March 7, 2025 for the Rights Issue but needs to complete additional procedures to meet the time requirements.
• The Board of Directors approved an ESOP pool of 83,76,520 equity shares representing 3.63% of the company’s total shares on November 2, 2023 followed by shareholder approval on January 17, 2024. The company received initial stock exchange approvals on April 12, 2024 before issuing 38,00,846 options which represent 1.65% of the total shares to 23 employees on April 16, 2024.
• The company launched various new LED TV models which span across HD/FHD/UHD/QLED/120Hz/Mini LED segments because of its technology absorption efforts and R&D focus on consumer-oriented features.
• G.L. Mirchandani stepped down as Chairman & Managing Director on May 20, 2025 while Vijay Mansukhani took over as Chairman & Managing Director on May 21, 2025.
• The company welcomed two new independent directors Ms. Nandini Mansinghka and Mr. Milind C. Pokle on November 2, 2024 but Mr. Carlton Pereira retired from his position on September 2, 2024.
• The product segment results for FY 2024-25 showed Air Conditioners and LED/Panel products increased by 55% and 11% but Washing Machines declined by 22% because of changing market demand patterns.