MIC ELECTRONICS - WHY YOU HAVE TO BUY?

MIC Electronics Limited (B.S.E Code: 532850, NSE Code : MIC), global leader in design, development & manufacturing of LED Lighting and LED Displays systems.MIC Electronics, an intrinsically R&D driven organization, commenced its operations 23 years ago with LED Displays as its flagship product. A strong Embedded Technology basewas created in the Company and several embedded products were developed, produced and delivered by the company to reputed clients such as South Central Railways, L & T, GE, Gujrat Council of Science City etc. Headquartered at Hyderabad (India), the company has nationwide presence in the form of a vast network of marketing, sales and service support centers in all metros of India. MIC Electronics has offices in Australia, Korea and USA to meet the global demand for its products. The company is now gradually setting up operations in other international markets.

MIC's flagship products, LED Video Displays (indoor / outdoor / mobile) have become an integral part of Sports Stadiums, Transportation Hubs, Digital Theatres and Theme Parks, Advertisements and Public Information Displays in Railways and Airports.

Financial Results
 
 The financial highlights for the year in comparison with the previous
 year are as under:
 
 (Rs.in Crore>
 
 Particulars                           2009-10         2008-09
 
 
 Total income                          233.94          242.57
 
 Profit before interest, depreciation 
 & tax                                  73.74           71.58
 
 Interest                                8.26            6.82
 
 Depreciation                            2.99            2.26
 
 Provision for taxation                  9.46           (1.91)
 
 Profit after interest, depreciation 
 & tax                                  53.03           64.41
 
 Transferred to general reserve          5.00            5.00
 
 Deferred tax asset adjustment for 
 earlier years                            -              2.35
 
 Balance brought forward               159.75          102.70
 
 Balance carried forward to Balance 
 Sheet                                 207.79          159.75

Introduces three new products 
MIC electronics recently introduces three new products that would introduce soon in 
India. These products have been designed around semiconductor devices form Texas 
Instruments (TI) including OMAP, MSP 430 and 16 channel LED Driver.  MIC expects 
these products to make difference in the lighting arena in the country as LED-based 
products can reduce energy consumption enhance battery life and bring down carbon 
footprints. 

To raise USD 30 mn
MIC Electronics has informed that its shareholders  at the extra ordinary general 
meeting (EGM) held on Sep. 9, 2009 have considered and approved to  issue GDRs / 
ADRs / FCCBs / QIP for an amount not exceeding USD  30 million inclusive of such 
premium as may be decided by the board

Joint Venture with Hyperion 
MIC in joint venture with Hyperion Green Energy India Pvt Ltd has secured the 
Rajahmundry Energy saving project for municipal street lighting. This will be first every 
city in the country to adopt the latest and the most energy efficient LED street lighting 
in India. In this project MIC supply LED Street lights and Hyperion will execute the 
project 
• Railway Orders  
The company which is executing some works for railways currently is expecting the 
biggest ever LED contacts shortly from Indian Railways. Indian railway is working on a 
project to increase the use of LED lighting systems and also set up LED display boards 
at stations for passenger information and other commercial purposes.  

Launching of Solar LEDs 
The company launches solar LEDs for rural areas which are yet to be connected to the 
power grids. These LEDs are cost effective and high performance oriented. These LEDs 
are designed as replacements to kerosene and paraffin lanterns presently in use. The 
company has launched solar LED lanterns of capacity 3watts, 5 watts and 10 watts.  
The company has committed to provide five lakh lanterns to The Energy and 
Resources Institute as part of its global Lighting a Billion Lives (LaBL) campaign. These 
products are prices at Rs.2000 to Rs.2500 each and would give 10 times more light 
than incandescent lights and three times more than the conventional CFLs with more 
than 15 years shelf life.

MIC Electronic Ltd. is an ISO 9001:2000 certified companies, incorporated in 1988 at 
Vijayawada got shifted its base to Hyderabad, Andhra Pradesh (India) in 1990. The company, 
which has started its operation as a manufacturer of Electronic Display Systems, is a global 
leader in design, development and manufacturing LED video displays, high-end electronics and 
telecommunication equipments now. It also develops  software for telecom sector. MIC is the 
only Indian company that has design to manufacturing capability for LED video display. 
In 1994 MIC has started exporting its products and  services. The company’s first export was 
multi-color LED Display System to Jeddah. Saudi Arabia. From 2005, MIC has started taking onshore software development contracts. 
In 2006 the company acquired InfoSTEP Inc., a US based Software Company. This enabled the 
company to have direct access to the US market. MIC Electronics have direct presence in the 
North American and Australian market through it’s subsidiaries in U.S.A. and Australia
 At current market price this stock looking very attractive, with a less PE and good eps and book value. buy at current levels and on dips for long term targets of 46.00 and 60.00