Revenue from Operations grows 29.5% YoY to ₹182.4 crore, while improved product mix drives higher gross margins

Mumbai: Onida Electronics Limited (formerly known as MIRC Electronics Limited), one of India’s leading consumer electronics and home appliances companies, announced its unaudited financial results for the quarter ended June 30, 2026.

The Company commenced FY27 with strong revenue growth, driven by robust performance across its branded portfolio. Healthy momentum in the LED Television and Air Conditioner businesses, coupled with an improved product mix, contributed to higher gross margins during the quarter. The Company also completed its corporate name change to Onida Electronics Limited, aligning its corporate identity with its flagship brand.

Particulars (₹ Cr)Q1 FY27Q1 FY26
Total Income184.8141.5
Revenue from Operations182.4140.9
PAT(14.2)(12.5)

Key Financial Highlights:

  • Revenue from Operations grew 29.5% year-on-year to ₹182.4 crore, driven by 35.8% growth in the branded product business
  • Total Income increased 30.6% year-on-year to ₹184.8 crore, reflecting healthy business momentum during the quarter
  • Overall Gross Margin improved to 17.3%, compared to 16.3% in Q1 FY26, supported by a favourable product mix
  • Branded Gross Margin improved to 17.9% from 17.0% in the corresponding quarter last year
  • The Company maintained a stable finance cost despite higher business activity

Key Business Highlights:

  • LED televisions emerged as the key growth driver during the quarter, registering 56.8% year-on-year growth, supported by new product launches and promotional initiatives
  • The Air Conditioner business recorded 39.2% year-on-year growth, reflecting recovery in seasonal demand and improved market traction
  • Overall branded sales achieved 35.8% year-on-year growth, driven by strong demand across key product categories
  • Improved product mix and better realizations across the LED Television and Air Conditioner businesses contributed to higher gross margins during the quarter
  • Successfully completed the corporate name change from MIRC Electronics Limited to Onida Electronics Limited, reinforcing the Company’s commitment to strengthening the iconic Onida brand and aligning its corporate identity with its flagship brand

The Company’s branded business delivered strong growth during the quarter, led by robust performance in the LED television and Air Conditioner categories. LED sales benefited from new product introductions and promotional initiatives, while the Air Conditioner business witnessed healthy demand recovery. The improvement in product mix and realizations across key categories contributed to higher gross margins amid a competitive market environment.

Commenting on the performance, Mr. Gunjan Srivastava, Chief Executive Officer & Managing Director, Onida Electronics Limited, said “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.”