MIC Electronics Secures ₹250 Crore Funding and Major Railway Contract Amidst Strong Financial Performance

Mumbai (Maharashtra) [India], December 2: MIC Electronics Limited, a diversified technology solutions provider, today announced the successful approval of a Qualified Institutional Placement (QIP) to raise ₹250 Crores, alongside the issuance of Foreign Currency Convertible Bonds (FCCBs) of up to USD 15 million, during an Extra-ordinary General Meeting held on December 1, 2025. These significant funding initiatives, overwhelmingly supported by shareholders, signal the company’s strategic intent for accelerated growth and expansion.

The shareholders demonstrated resounding confidence in the company’s vision, with the QIP resolution passing with a remarkable 99.999% approval, underscoring strong investor backing. Similarly, the issuance of FCCBs received robust approval with 99.998% of votes in favor. The voting process, which combined remote e-voting and physical ballots and was meticulously overseen by scrutinizer Y. Ravi Prasada Reddy of RPR & Associates, adhered strictly to the Companies Act and SEBI guidelines. A total of 194 members actively participated in this crucial meeting, highlighting the engaged shareholder base of MIC Electronics.

In a significant development, MIC Electronics has also been awarded a Letter of Acceptance (LoA) from the Vijayawada Railway Division, an Indian Railways Government Authority, for the provision of an IP-based Integrated Passenger Information System at the ANV and YLM Railway Stations in Andhra Pradesh. This domestic contract, secured through a competitive tender process, is valued at Rs 1,49,88,884.77 and encompasses the design, supply, installation, testing, and commissioning of the system, with an execution timeline of 12 months from the agreement’s commencement.

These strategic moves are underpinned by the company’s recently announced strong financial results. For the second quarter of Fiscal Year 2026 (Q2FY26), MIC Electronics reported a substantial 226% increase in net sales, reaching ₹37.89 crore, and a 30% rise in net profit to ₹2.17 crore compared to the previous quarter (Q1FY26). Furthermore, the half-yearly results for H1FY26 showcased a 30% growth in net sales to ₹49.50 crore compared to H1FY25, with a net profit of ₹3.84 crore in H1FY26, demonstrating consistent operational strength.

Founded in 1988, MIC Electronics Limited has established itself as a leading manufacturer in various sectors, including LED displays, lighting solutions, telecom equipment, and railway and software solutions. The company’s commitment to quality and innovation is further evidenced by its ISO 45001:2018 and ISO 14001:2015 certifications, recognizing its robust Environmental Management System across its diverse product portfolio. With a global presence and a forward-looking strategy, MIC Electronics is well-positioned to leverage these recent achievements for continued success.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

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