Mirc Electronics
Mirc Electronics is a company.
Active
Updated: ·
Financial History
Total Raised
N/A
Valuation
N/A
Leadership Team
Key people at Mirc Electronics.
Mirc Electronics is a company.
Key people at Mirc Electronics.
Key people at Mirc Electronics.
MIRC Electronics Ltd is an Indian consumer electronics manufacturer known for its flagship Onida brand, producing TVs, air conditioners, washing machines, refrigerators, and other durables. Established in 1981 and headquartered in Mumbai, it serves urban and rural markets in India via Onida and IGO brands, while also exporting products and offering manufacturing services for OEMs[1][2][4][5]. The company has scaled production to 3 million TV units annually, focusing on branded high-margin products amid industry growth in TVs (17.5% CAGR) and ACs/washing machines (7% CAGR), positioning it to capture a Rs. 25,000–30,000 crore market[1][3].
Founded on January 11, 1981, by G.L. Mirchandani (former chairman) and Vijay Jaikrishin Mansukhani (current founder, MD, and chairman since 1981), MIRC Electronics began as part of the Onida group in Mumbai, initially assembling TVs at an Andheri factory in 1982[1][2][5]. It transitioned to a public limited company in 1992, evolving from CRT TV specialist to a multi-product player with innovations like the world's first internet TV and 29KY Thunder series[1]. Early traction came from Onida's reputation in color TVs; pivotal moments include expanding to white goods, subsidiaries like Akasaka Electronics and Imercius Technologies, and recent capacity boosts to leverage outsourcing from global firms[1][4].
MIRC rides India's consumer durables boom, driven by rising incomes, urbanization, and premiumization in TVs/ACs amid a competitive market with LG, Samsung, and Chinese entrants[3]. Timing favors its branded pivot as the sector grows steadily, with MIRC influencing via Onida's nostalgia-driven revival and EMS for globals, boosting local manufacturing under "Make in India"[1][3]. It contributes to ecosystem localization by enhancing TV/white goods supply chains, though scale lags giants[3][4].
MIRC is refocusing on Onida's branded core for revenue mix improvement, backed by promoter support and a July 2025 rights issue (recommended "Subscribe")[3]. Next steps include AC/TV growth, outsourcing wins, and rural IGO expansion amid 7-17.5% sector CAGRs[1][3]. Trends like premium appliances and exports could elevate it, but competition risks persist; success hinges on execution to reclaim TV leadership, tying back to its 1981 manufacturing roots for sustained revival[3][5].