MIC Electronics Looks To Grow Through Acquisitions

Hyderabad: City-based MIC Electronics Ltd, a LED video display manufacturer, announced that its Board has approved its proposal to acquire companies engaged in the same or allied lines of business in order to expand its market presence, access new markets and technologies.

The Company also announced the appointment of Penumaka Venkata Ramesh as Additional Director of the Company in the Non-Executive Independent category for a term of five years.

On the project front, MIC Electronics said that it has received a Letter of Acceptance from the Malda Division of the Eastern Railway Zone for the provision of CIB. Previously, it had received a Letter of Acceptance from the Salem Division of the Southern Railway Zone for the provision of Telecom based passenger amenities. The company has also received a Letter of Acceptance from the Ratlam Division of the Western Railway Zone for supply, installation, testing and commissioning of telecom material.

The company also announced that it has developed GPS (Global Positioning System) based Public Address System (PA), Passenger Information System (PIS) and LED Destination boards for new and existing AC and Non AC coaches.

Earlier, MIC Electronics had reported a 59 per cent y-o-y increase in profit from Rs 123.60 lakh in Q1’24 to

Rs 196.52 lakh in Q1’25.