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MIRC Electronics Ltd. Company History and Annual Growth Details


- The Company was incorporated on 01 January as Mirc Electronics
Private Limited. The word Private was deleted from the name on 13th
September, 1988 pursuant to Section 43-A(1A) of the Act, and a fresh
certificate was issued by the Registrar of Companies, Maharashtra on
18th September, 1992 converting the company into a Public Limited

- Mirc Electronics Limited was promoted by Mr. Gulu L. Mirchandani, Mr.
Vijay J. Mansukhani and Mr. Sonu L. Mirchandani. Guviso Holdings
Limited is the holding company of Mirc Electronics Limited.

- The other listed companies promoted by the promoters are Onida Saka
Ltd., Onida Savak Ltd. and Monica Electronics Ltd. which are engaged in
the manufacture of Colour Televisions, Black & White Televisions, Video
Cassette Recorders, Audios, Air Conditioners, Washing Machines,
Electronic Tuners and other electronic products.


- The Company has launched two new models with better aesthetics and
quality that the `ONIDA' brand demands. With the introduction of full
range of Black & White televisions.

- The Company has also recently launched a new colour television,
incorporating state-of-the-art features for superlative performance.
The remote control set for this product offers "master command", which
have been recently introduced in Japan.

- The Company has also introduced "Brother" fax machines in the Indian

- The Company had offered for public subscription 12,67,500-15% Secured
Fully Convertible Debentures of Rs.225/- each aggregating to Rs.28.52


- The Company is also introducing 'ONIDA ARCADES', which shall be
exclusive 'ONIDA' showrooms, situated in the prestigeous upmarket

- The Company had launched 6 new models in the middle segment,
introducing products like Stereo Radio Recorders and MIDI systems.

- As on 1st April, 16,90,000 Part 'B' Fully Convertible Debentures of
the Company has been converted into 16,90,000 No. of Equity Shares of
Rs.10/- each at a premium of Rs.140/- each; and 1,70,000 Part 'A'
Convertible Portion of NCD's issued on private placement to Unit Trust
of India had been converted into 1,70,000 Equity Shares of Rs.10/- each
at a premium of Rs.140/- each aggregately resulting in an increase of
the Equity Capital from Rs. 5.17 crores to Rs.7.03 crores.


- The Company introduced the state of the art Wide Vision (16.9 aspect
ratio) TVs and top of the line Component Audio systems.

- The Company introduced three contemporary models (component systems)
targeted at the top end of the Audio Market. The products have been
well received in the market.

- The Company introduced two new products in the personal audio systems
category and three models in the low end market.

- The Company was awarded ISO 9001 certification during the period
under review. The improved compliance with the laid down Systems &
Procedures, Total Quality Management discipline, Cost reduction & Value
engineering would go a long way in fine tuning the performance of your


- The Company has come out with a new range of products christened
"Techno Value", which have been launched with considerable success.


- In technical collaboration with JVC, the company has also launched
several other products aimed at the top-end of the market. These
include a 42-inch plasma TV, a 29-inch flat TV, and a 29-inch swivel
base TV. For the young generation, it has launched 14-inch TVs with
colour bodies called Candy.

- The Company had launched two brands Web Cruiser (television with
Internet facility) and Candy, about a month back.

- The Company launched two brands -- Web Cruiser (television with
Internet facility) and Candy this year.

- The Company recently introduced `Igo' the economy model.

- The Company launched 13 new products, a few of which took even its
multinational competitors by surprises.


- The Company has introduced Onida KY Thunder, incorporating
bassblaster technology.

- The company, manufacturer of the Onida brand of television, has been
awarded the second prize for excellence in consumer electronics by the
Ministry of Information Technology.

- Mirc Electronics, makers of the Onida band of Television, has joined
hands with Italian Professional designer Gulliano Bellini and SRS labs
Inc of the US, to launch a designer 21-inch colour tevevision,

- Mirc Electronics, manufacturers of Ondia telvision, has won the A&M
award in the gold category for its television commercial, Kargil.

- The Company has tied-up with the US-based TeleCruz Technology to
manufacture Internet TVs and set-top boxes.

- The Company approved the proposal of issue up to 20,00,000 No. Equity
shares to UTI and up to 10,00,000 No.of equity shares to LIC of India
on preferential basis.


-Company declares interim dividend @225% on the paid up share capital of the

-The Board approves the Scheme of Arrangement of Onida Infotech Services Ltd
with the company.

-Mirc releases a new TV brand 'Igo' targeting the rural market.

-Mirc wins case filed by Sony, since their were no complaints launched by any customer
against Mirc.

-Promoters of Mirc have increased their stake in the company by 7% to the present 64%
through the creeping acquisition route.

-Mirc Electronics forays into audio, air-conditioner and home appliances market.

- Fitch Ratings India Private Limited assigned a 'F1 + (ind)' [F one plus (ind)] rating to the Rs.200mn commercial paper programme of the company

-The company's equity shares having a nominal and paid up face of Rs 10/- per share are subdivided into Equity Shares having a nominal and paid up face value of Re 1/- per share.

-Company has appointed Mr Vinod Verma as its Company Secretary and Compliance Officer wef November 1, 2003 after Mr Sanjay Jain resigned from the post.


-MIRC Electronics members approve increase in FII Limits to 49%

-Mr Vinod Verma, GM Finance & Company Secretary of the Company is hereby appointed as the Compliance Officer

-Mirc Electronics Ltd. has informed that pursuant to the Companys application for voluntary delisting of equity shares under SEBI (delisting of securities) Guidelines 2003, the Bangalore Stock Exchange Limited vide their Letter dated January 30, 2004 have delisted the Companys securities from their exchange wef January 30, 2004.

- Equity shares delisted from Delhi Stock Exchange

-Delists Shares from Madras Stock Exchange


-Mirc Electronics ties up with Wal-Mart for putting made-in-India TV

-Mirc Electronics claimed that it had become the second largest CTV maker in the country


-Mr. Girjesh Shrivastava has been appointed as Assistant Company Secretary and Compliance Officer of the company.


-Mirc Electronics has declared an interim dividend @ 75%


-Mirc Electronics has recommended 100% dividend


-Mirc Electronics has recommended a dividend of Rs 0.40/- per equity share of face value of Re 1/- each


-Mirc Electronics Ltd has recommended a dividend of Re. 0.95 paise per equity share of face value of Re. 1/- each


-Mr. Shatrughan Singh has joined the company as Deputy Company Secretary.

-Mirc Electronics have recommended a dividend of Re. 1.00 per equity share of Re. 1 each.


-Mr. Shyamsunder Dhoot, Vice President-Operations has been appointed as an Additional & Whole Time Director of the Company
-Dr. YV Verma has been appointed as the Chief Executive Officer of the company


-Mirc Electronics focuses to gain market leadership in consumer durables segment