Hold Mic Electronics: Pinc Research

Pinc Research has recommended hold rating on Mic Electronics , November 01, 2007 report. "MIC Electronics’ (MIC) results were marginally below our expectations. At the CMP of Rs 531, the stock is trading at a P/E of 17.7x and EV/EBIDT of 12.1x FY09E on a consolidated basis. This is at a significant discount to global peers like Barco N.V. and Daktronics, which trade at a P/E and EV/EBIDT of 28.2x and 18.3x FY09E. Even though the company is growing as planned, the key challenge remains execution of its order book and diversification of revenue stream into display rental and LED lighting. Our target has been achieved and with the above challenges, we recommend a ‘HOLD’." according to the Pinc research report.

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