Onida Electronics Q1FY27 Revenue Surges 29.5% YoY to ₹182.4 Crore on Strong LED TV and AC Sales
Onida Electronics reported Q1 FY27 unaudited results with Revenue from Operations up 29.5% YoY to ₹182.4 crore. LED TVs and Air Conditioners were key growth drivers. Gross Margin improved to 17.3%. The company also completed its name change from MIRC Electronics.
The results show significant year-on-year growth in revenue and margins, which is a material development for the company's financial health. The strategic name change also aligns with brand strengthening.
The company reported strong year-on-year revenue growth, improved gross margins, and positive commentary from the management regarding future prospects, indicating a positive financial performance.
Onida Electronics Limited (formerly MIRC Electronics Limited) announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a robust top-line growth, with Revenue from Operations increasing by 29.5% year-on-year to ₹182.4 crore. This growth was primarily driven by strong performance in the LED Television and Air Conditioner segments, which saw year-on-year increases of 56.8% and 39.2% respectively. Total Income also rose by 30.6% to ₹184.8 crore. The overall Gross Margin improved to 17.3% from 16.3% in Q1 FY26, attributed to a favorable product mix and better realisations, particularly in LED TVs and Air Conditioners. Branded Gross Margin also saw an increase to 17.9% from 17.0% in the prior year's corresponding quarter.
During the quarter, the company successfully completed its corporate name change from MIRC Electronics Limited to Onida Electronics Limited, reinforcing its commitment to strengthening the iconic Onida brand. The company maintained a stable finance cost despite higher business activity.
Commenting on the performance, 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."
Onida Electronics Limited is a leading consumer electronics and home appliances company in India, offering a portfolio including televisions, air conditioners, washing machines, and microwave ovens under the Onida brand.
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