Rs. 86,44,051.35 Order Deal: MIC Electronics Bags LoA From This Railway Division

Not only has Multibagger MIC Electronics become the talk of the town, but on Friday the company received a Letter of Acceptance (LoA) from the Ratlam Division of the Western Railway Zone for the provision of a 12-meter-wide foot overbridge to connect PF at 14 stations under the Amirit Bharat Station Scheme (ABSS). This is besides the company's 140% YTD growth. The work order in question has a total value of Rs. 86,44,051.35/-.

The order will be executed within 10 months and no, none of the promoter/ promoter group / group companies have any interest in the entity that awarded the order.

The previous week on 28th August MIC Electronics Limited received a Letter of Acceptance from the Lucknow Division of the Northern Railway Zone for the provision of Integrated Passenger Information System at PRG, PYGS, and PFM Stations in c/w Mahakumbh-2025. The aggregate value of the said work order is Rs. 2,54,73,441.45/-.

The financial results of MIC Electronics for the quarter that ended on June 30, 2024, were recently released. In the quarter under review, the firm generated net income of Rs 10.93 Cr, increasing 52.22% YoY from Rs 7.18 Cr in the same period of the previous fiscal year. Net expenses for the firm increased by 50.58% YoY from Rs 5.95 Cr in Q1FY24 to Rs 8.96 Cr in Q1FY25. In Q1FY25, MIC Electronics recorded a net profit of Rs 1.96 Cr, up 59.34% YoY from Rs 1.23 Cr in the same period the previous year.

Along with its financial actions, MIC Electronics was able to get the Ferozepur Division of Northern Railway to place a fresh order of Rs 3.04 crore. The delivery of coach display boards for Ferozepur Division's key stations is the purpose of this order. To generate funds, MIC Electronics recently launched a Qualified Institutional Placement (QIP) issue. The share price of this QIP was Rs 48.30.

Since 1988, MIC Electronics Limited has been an international pioneer in the design, development, and production of LED video displays, high-end electronic and telecom equipment, and telecom software. Today, LED video displays-indoor, outdoor, and mobile-are the mainstay products of MIC. These displays are used in transportation hubs, sports stadiums, digital theaters, theme parks, public information displays, and advertisements. With its national headquarters located in Hyderabad, India, the company has a comprehensive network of marketing, sales, and service support facilities throughout all Indian metropolises.

One of Dalal Street's multibagger stocks is MIC Electronics, which has shot up in value from Rs 30.40 to Rs 80.98 in 1 year, yielding a 167% multibagger return. Similarly, from Rs 33.80 to the existing market price, the company has generated a 140% multibagger return year to date so far in 2024.