• MAY 22, 2000

MIRC Electronics net profit shoots up by 70%

MIRC Electronics, the makers of Onida brand televisions, have shown a buoyant growth in the bottomline from Rs 270 m to Rs 461 m in FY00. The operating margins of the company is also up to 9.9% in FY00 from 8% in FY99.

The stock is currently trading at Rs 400 at a P/E multiple of 6.1x on FY00 earnings.

(Rs m) FY99 FY00 Change
Sales 6,886 7,972 15.8%
Other Income 54 27 -51.2%
Expenditure 6,337 7,186 13.4%
Operating Profit (EBDIT) 549 786 43.1%
Operating Profit Margin (%) 8.0% 9.9%  
Interest 224 193 -14.1%
Depreciation 59 66 12.1%
Profit before Tax 320 554 72.9%
Tax 50 93 85.4%
Profit after Tax/(Loss) 270 461 70.6%
Net profit margin (%) 3.9% 5.8%  
Earnings per share* 38.45 65.60  

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