MIC Electronics stock split proposal

MIC Electronics rose 1.70% to Rs 917.95 at 14:37 IST after the company scheduled a meeting of board of directors on 19 May 2008, to consider a 5-for-1 stock split.

The stock hit a high of Rs 960 and a low of Rs 880 so far during the day. The stock had a 52-week high of Rs 1087.80 on 27 December 2007 and a 52-week low of Rs 210.25 on 30 May 2007.

The company’s current equity is Rs 20.13 crore. Face value per share is Rs 10.

The current price of Rs 914 discounts its Q3 March 2008 annualized EPS of Rs 36.96, by a PE multiple of 24.72.

On 28 March 2008, MIC Electronics received an order worth Rs 45 crore from Delhi Metro Rail Corporation for installation and maintenance of 25 full color day-and-night light-emitting diode (LED) video display boards at eight metro stations.

Meanwhile, the company and its subsidiary InfoSTEP Inc. have jointly developed a global digital billboard exchange solution, GLOBIX. The GLOBIX solution facilitates clients to reach out to most optimal out-of-home (OOH) advertisement locations to target brand advertising.

MIC Electronics’ net profit jumped 969% to Rs 18.60 crore on 31.90% rise in net sales to Rs 78.65 crore in Q3 March 2008 over Q3 March 2007.

MIC Electronics is engaged in designing and manufacturing LED video display systems. The LED products manufactured by the company find various applications, including sport and live events, advertising campaigns and news ticker displays.