About MIRC Electronics Limited

MIRC Electronics Limited is a listed entity incorporated in India, headquartered at Onida House, Andheri (East), Mumbai. It is principally engaged in the manufacturing and trading of electronic items under the Onida brand, with equity shares listed on BSE and NSE. The company’s operations and distribution span across India through modern retail, general trade and e-commerce channels, and it runs manufacturing plants at Wada (Maharashtra), Roorkee (Uttarakhand) and Chiplun (Maharashtra). Onida’s portfolio covers consumer durables such as air conditioners, LED/Panel televisions and washing machines, tailored to Indian conditions and lifestyles.

The company reported 460 employees on its payroll as on March 31, 2025, underscoring its focus on building capabilities and driving digital transformation across the employee lifecycle. MIRC has zero subsidiaries, associates or joint ventures, as confirmed in the statutory notes and directors’ disclosures. The financial statements for the year ended March 31, 2025 were approved by the Board on May 20, 2025.

Key Milestones of MIRC Electronics Limited

Key milestones highlighted in the latest year include Board approval of a rights issue, in-principle approvals from both stock exchanges, and the operationalisation of a refreshed ESOP plan, alongside product-range expansion in air conditioners and continued emphasis on Indian-market centric appliances.

MIRC Electronics Limited Business Verticals and Geographical Presence

MIRC Electronics Limited manufactures and trades consumer durables under the Onida brand, with a portfolio covering air conditioners, LED/Panel televisions and washing machines designed for Indian conditions. The company operates manufacturing plants at Wada (Maharashtra), Roorkee (Uttarakhand) and Chiplun (Maharashtra). Operations and distribution span across India through modern retail, general trade and e-commerce channels. The company reports no separately identifiable geographical segment for financial reporting, underscoring its domestic focus.

MIRC Electronics Limited Business Segment

MIRC Electronics operates in the consumer durables segment, manufacturing and trading electronic items under the Onida brand. The product portfolio includes air conditioners, LED/Panel televisions and washing machines tailored to Indian conditions and lifestyles. Distribution spans across India through modern retail, general trade and e-commerce channels, with manufacturing plants at Wada (Maharashtra), Roorkee (Uttarakhand) and Chiplun (Maharashtra).

MIRC Electronics Limited Key Management

• Vijay Mansukhani – Managing Director
• Kaval Mirchandani – Whole Time Director
• Shirish Suvagia – Whole Time Director and Chief Financial Officer
• Prasad Oak – Head – Legal, Corporate Affairs and Company Secretary

Latest Updates on MIRC Electronics Limited

• Rights Issue: The Board approved raising funds of up to Rs 50,00,00,000 on a rights issue basis on September 02, 2024. In-principle approvals were received from BSE on February 18, 2025 and from NSE on March 07, 2025; the company is proceeding with next steps within stipulated timelines.
• ESOP 2023: The MIRC Electronics Employee Stock Option Plan 2023 for 83,76,520 equity shares received in-principle approvals from BSE and NSE on April 12, 2024, and on April 16, 2024, the Compensation Committee granted 38,00,846 options to 23 employees.
• Product performance: In FY 2024-25, Air Conditioners grew 55%, LED/Panel grew 11%, while Washing Machines saw a 22% de-growth, reflecting category-specific dynamics within the consumer durables market.
• Product launches: Onida expanded its AC portfolio with “Tropical Heavy-Duty Inverter ACs,” targeting high-performance cooling for tropical regions and aiming for a 40% increase in AC sales turnover. The company also highlighted its washing machines, including a unique heater model for a germ-free hygienic wash, designed specifically for Indian homes and fabrics.
• Board changes: Post year-end, Gulu L. Mirchandani resigned as Chairman & Managing Director due to age and health reasons with effect from May 20, 2025, with the Board recording its appreciation for his leadership since incorporation. During the year, Milind Pokle was appointed as Non-Executive – Independent Director and Carlton Pereira ceased as Independent Director, both effective September 02, 2024.
• Operating footprint: The company reiterated its domestic focus with no separately identifiable geographical segment for reporting, and confirmed plant locations at Wada, Roorkee and Chiplun.