Onida Electronics Limited(MIRCELECTR)

NSE: MIRCELECTRBSE: 500279

₹ 25.58-0.20%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 945 crWebsite: www.onida.comUpdated: 24 Oct 2026

About

Onida Electronics Limited manufactures and markets consumer electronics goods, mainly under the Onida brand. Its core categories are televisions, air conditioners and washing machines. It makes them at three plants in Maharashtra and Uttarakhand and sells them through modern retail, general trade and e-commerce. Revenue was 660.01 crore in FY26.^[1][2]

Business segments

Air conditioners made up about 60% of revenue in Q1 FY27, the largest category.^[3]
Core categories as of FY26: televisions, air conditioners and washing machines.^[1]
Washing machine sales were Rs. 7,087 Lakh in FY 2025-26, down 13.3% from Rs. 8,573 Lakh in FY 2024-25. The company attributes the fall to a product portfolio mismatch and intense competition.^[1]

Products and brands

Products launched in FY26 include what the company calls India's first Karaoke TV (October festive season), a Fire TV, 9-in-1 convertible air conditioners and a Sensomatic-enabled washing machine range.^[1]
In Q1 FY27 the company launched a 100-inch QD Mini-LED television aimed at the premium and festival segment.^[3]
In FY25 Onida entered the smart digital inverter segment with Wi-Fi-enabled ACs, including Tropical Heavy-Duty models with 5-in-1 convertible cooling.^[4]
The washing machine range includes a heater model for germ-free hygienic washing, introduced in FY24.^[4]

Manufacturing and R&D

The company has three plants: Wada and Lote-Parshuram, Chiplun (both in Maharashtra) and Roorkee-II (Uttarakhand), as of FY26.^[1]
Commercial production started at Wada in July 1994 and at Roorkee Plant-II in October 2009.^[1]
As of Q1 FY27, the Wada plant had been scaled down but not closed, with own production prioritised over contract manufacturing.^[3]
The Onida R&D Centre in Mumbai works on embedded software, industrial design, mechanical design and electrical circuit design.^[1]
The company had 317 employees on its payroll as of March 31, 2026.^[1]

Key operating numbers

In Q1 FY27, year on year, LED TV sales grew 56.8%, air conditioner sales grew 39.2% and washing machine sales fell 1.8%.^[3]
Gross margin was 17.3% in Q1 FY27, up from 16.3% in Q1 FY26.^[3]
The online channel's share of sales was in the high single digits in Q1 FY27.^[3]

Customers and distribution

As of FY26, the company sells through modern retail, general trade and e-commerce.^[1]
Retail reach was about 4,000+ stores in Q1 FY27, with stronger presence in Tier-2/3 markets and states including Gujarat, Punjab, Tamil Nadu, Maharashtra and West Bengal.^[3]
Exports were nil as of FY25.^[4]

Expansion plans

Management aims to reach about 8,000+ retail stores within 6-12 months of Q1 FY27.^[3]
The plan is to build retail excellence in 800-1,000 selected outlets by the end of FY27.^[3]
A new institutional B2B cooling business was set up in Q1 FY27, a channel the company had not served before.^[3]
Contract manufacturing was deprioritised in Q1 FY27 in favour of growing the branded business.^[3]

Recent developments

In FY26 the company raised equity through a ₹49.49 crore rights issue and a ₹149.52 crore preferential issue at ₹16.81 per share.^[1]
In FY26 it issued ₹60 crore of secured 12% NCDs, redeemable after 36 months and secured on its plants, Onida House and current assets.^[1]
Gulu Mirchandani resigned as Chairman & MD on May 20, 2025, citing age and health. Vijay Mansukhani became CMD, and a new CEO was later appointed.^[4][1]
The MIRC ESOP 2023 pool was increased by 4,10,43,596 shares in FY26.^[1]

Market Cap

₹945 Cr

High / Low

₹46 / 26

Stock P/E

-12.9

Price / Book

4.2

Book Value

₹6

EPS

₹-2.0

No. of Shares

36.94 Cr

ROCE

-16.2%

ROE

-41.1%

OPM

-6.7%

Debt / Equity

0.31

Sales

₹660 Cr

Net Profit

₹-75 Cr

Promoter holding

40.5%

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