CRISIL Company Quarterly Update l 27 May 2011

MIRC Electronics Ltd

Q4FY11 Result Summary
Rs mn Net Sales Other Income Raw Material Cost Employees cost Other expenses EBITDA EBITDA margin Depreciation EBIT Interest and finance charges PBT Tax PAT PAT Margin (%) No of equity shares (Mn) EPS (Rs) Q4FY11 5746 6 4433 219 885 215 4 56 160 48 111 14 97 2 142 0.70 Q3FY11 4480 5 3456 237 597 195 4 55 140 59 82 23 59 1 142 0.40 Q4FY10 3936 6 3085 181 514 162 4 53 109 41 68 16 52 1 142 0.40 q-o-q (%) 28 18 28 -8 48 10 -70bps 1 14 -18 36 -39 65 40bps 75.00 y-o-y (%) 46 4 44 21 72 33 -40bps 5 47 18 64 -12 87 40bps 75.00

Top line registered growth of ~46% in Q4FY11 to Rs 5.74 bn from Rs 3.93 bn in Q4FY10. Revenue increased due to increase in sales of consumer durables and components (TV, refrigerators etc) and mobile communication devices. Despite a healthy growth in top line, EBITDA margins inched down 40 basis points in Q4FY11 on account of increase in raw material cost and manufacturing expenses. However, operating profit improved due to gain in top line. PAT margins grew by 40 basis points to 1.7% in Q4FY11. Growth in operating profits and smaller increase in depreciation and interest and finance charges contributed to the growth in PAT.

Revenue and EBITDA margins

PAT and PAT margins

Share price movement

Shareholding pattern

Additional Disclosure
This report has been sponsored by NSE - Investor Protection Fund Trust (NSEIPFT).

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