Board Meeting Details

The Board of Directors meeting was held on Friday, August 07, 2026, at Raheja Artesia, Worli, Mumbai, Maharashtra 400030. The meeting commenced at 3:45 PM and concluded at 7:10 PM.

Key Agenda Items Approved

1. Unaudited Financial Results: The Board approved the unaudited standalone financial results for the quarter ended June 30, 2026. The results were reviewed by the statutory auditors, M/s. M M Nissim & Co LLP, who issued an unmodified limited review report.

2. ESOP Allotment: The Board approved the allotment of 1,35,480 equity shares of Re. 1/- each pursuant to the exercise of vested employee stock options under the Onida Electronics Employee Stock Option Plan, 2023. The exercise price was ₹14.10 per share.

Financial Performance (Standalone)

For the Quarter Ended June 30, 2026 (Q1 FY27):

  • Total Income: ₹18,482 lakh
  • Total Expenses: ₹19,900 lakh
  • Loss Before Tax: ₹(1,418) lakh
  • Tax Expense: ₹0 lakh
  • Loss After Tax: ₹(1,418) lakh
  • Other Comprehensive Income: ₹7 lakh (items not to be reclassified to profit or loss)
  • Total Comprehensive Loss: ₹(1,411) lakh
  • Paid-Up Equity Share Capital: ₹369 lakh (36.95 crore shares of Re. 1/- each)
  • Other Equity: Not quantified in the disclosure for the current quarter

Comparative Figures (Q1 FY26):

  • Loss After Tax: ₹(4,738) lakh
  • Total Comprehensive Loss: ₹(4,749) lakh

Capital Structure Impact

Consequent to the ESOP allotment, the company's paid-up equity share capital increased from ₹36,93,92,364 (previous disclosed figure implied) to ₹36,95,27,844, divided into 36,95,27,844 equity shares of Re. 1/- each.

ESOP Allotment Details (Annexure B)

  • Scheme: MIRC Electronics Employee Stock Option Plan, 2023 (note: document refers to both "Onida Electronics" and "MIRC Electronics" for the scheme name)
  • Number of Shares Allotted: 1,35,480 Equity Shares
  • Date of Allotment: August 07, 2026
  • Exercise Price: ₹14.10 per share
  • Premium per Share: ₹13.10 per share
  • The new shares rank pari passu with existing equity shares.
  • No lock-in period applies to the allotted shares.

Other Key Disclosures from Financial Notes

1. The company completed its name change from "MIRC Electronics Limited" to "Onida Electronics Limited" during the quarter, following shareholder and regulatory approvals.

2. During the quarter, the company granted 3,11,00,000 new ESOPs to eligible employees. The expense for these is recognized over the vesting period and included in Employee Benefits Expense.

3. The company operates in a single reportable segment: "Consumer Durables".

4. The figures for the quarter ended March 31, 2026 (Q4 FY26) are balancing figures between audited annual and reviewed nine-month figures.

5. Previous period figures have been regrouped and rearranged for consistency.