MIC Electronics Gets Capacity Cum Capability Approval

Hyderabad: City- based MIC Electronics Ltd, a LED video display manufacturer, said it has received the approval of capacity cum capability assessment (CCA) for the company’s GPS Location-based Public Address and Passenger Information System (PAPIS), and LED Destination Boards in AC and non-AC railway coaches.

Recently, the board approved the appointment of Penumaka Venkata Ramesh as Additional Director of the Company in the Non-Executive Independent category for a term of five years, subject to approval of members. Ramesh brings over 40 years of senior executive leadership across governments, international organisations, and corporate enterprises in regions including Asia Pacific, Europe, and Africa.

The company further incorporated wholly-owned subsidiary namely MICK Digital India Ltd. The subsidiary will function to manufacture and deal in all types of smart meters, digital meters, roof-mounted AC package units (RMPU), integrated power supply (IPS) systems, mini computers, microprocessor based systems and computer peripherals.

Earlier, the company announced earnings for the quarter and half year ended September 30, 2024. For the quarter ended September 30, 2024, revenue from operations grew by 156.26 per cent from Rs 1071.46 lakh in Q1FY25 to Rs 2745.67 lakh in Q2FY25. EBITDA increased by 37.56 per cent from Rs 281.24 lakh in Q1FY25 to Rs 286.86 lakh in Q2FY25. The profit increased by 8.18 per cent from Rs 196.52 lakh in Q1FY25 to Rs 212.59 lakh in Q2FY25, an official MIC Electronics press release stated.