Key Financial Performance

Revenue Performance:

  • Revenue from Operations: ₹182.4 crore in Q1FY27 vs ₹140.9 crore in Q1FY26, representing 29.5% year-on-year growth
  • Total Income: ₹184.8 crore in Q1FY27 vs ₹141.5 crore in Q1FY26, representing 30.6% year-on-year growth
  • Branded product business grew 35.8% year-on-year

Profitability Metrics:

  • PAT: (₹14.2) crore loss in Q1FY27 (comparative Q1FY26 figure not provided)
  • Overall Gross Margin: 17.3% in Q1FY27 vs 16.3% in Q1FY26
  • Branded Gross Margin: 17.9% in Q1FY27 vs 17.0% in Q1FY26
  • Finance cost remained stable despite higher business activity

Key Business Highlights

Product Category Performance:

  • LED televisions: 56.8% year-on-year growth, driven by new product launches and promotional initiatives
  • Air Conditioner business: 39.2% year-on-year growth, reflecting recovery in seasonal demand and improved market traction
  • Overall branded sales: 35.8% year-on-year growth

Corporate Development:

  • Successfully completed corporate name change from MIRC Electronics Limited to Onida Electronics Limited
  • The name change aligns corporate identity with the flagship Onida brand

Management Commentary

Mr. Gunjan Srivastava, Chief Executive Officer & Managing Director, stated: "Our performance in the first quarter reflects disciplined execution and encouraging momentum across our core product categories. Healthy growth in the branded business, supported by strong demand for LED televisions and Air Conditioners, along with improved gross margins, provides a strong foundation for the year ahead. We remain focused on product innovation, delivering differentiated consumer experiences, enhancing operational efficiency and building a stronger, more agile business that is well positioned to capitalise on opportunities in India's growing consumer durables market."

Company Background

Onida Electronics Limited (formerly MIRC Electronics Limited) is a consumer electronics and home appliances company with over four decades of legacy. The company offers televisions, air conditioners, washing machines, microwave ovens and other home appliances under the Onida brand.