Could you briefly introduce MIC Electronics and its current business focus?

MIC Electronics has been in business since 1988. The new promoters and management took over in 2021 after the NCLT process, and since then we have been rebuilding the company.

Our primary focus is on the railways sector. We manufacture products that are deployed on railway platforms and inside trains. Apart from this, we have an LED lighting division and an SMT (Surface Mount Technology) division. These are the three primary divisions currently operating at MIC Electronics.

Could you elaborate on your manufacturing facilities and the products you produce in-house?

We have a state-of-the-art manufacturing facility in Cherlapally, Hyderabad, spread across 100,000 sq ft over five floors. The first three floors are dedicated to in-house manufacturing, primarily for our railway products.

Our railway portfolio includes:

• IPIS (Integrated Passenger Information System) – deployed at railway platforms, displaying train and platform information.
• PAPIS (Passenger Announcement/Information System) – installed inside train bogies.
• Emergency Light Units
• RMPU units for air-conditioning systems in cabins.

The IPIS systems are the display boards seen at platforms indicating train arrivals and platform numbers. These are manufactured entirely at our Hyderabad facility.

Our LED lighting division caters primarily to government and business clients. We manufacture streetlights and LED display systems, including outdoor advertising displays.

All these products are supported by our SMT division, which forms the backbone of our manufacturing operations. The SMT machines handle PCB layout design and component placement, enabling the functioning of both railway systems and LED solutions.

Who are your key customers, and which segments contribute most to your business?

For railway products, our primary customer is Indian Railways.

We are also expanding into the metro segment, which is currently in the planning and execution stage.

For LED displays, we operate purely on a B2B model. We do not cater to retail customers. All advertising display screens and LED boards we manufacture are supplied on a B2B basis.

Railways remain our major revenue-contributing vertical. However, we are gradually diversifying into standalone B2B display system orders. For example, at Tirupati (TTD), most of the LED screens are ours.

Our business is largely tender-based, and our in-house manufacturing gives us an advantage in terms of both quality and pricing.

What is your current export strategy?

Since the takeover by the new management, we have not yet resumed exports. However, we are currently in discussions with companies to partner and take our products overseas.

Historically, before the takeover, the company had significant export activity. The market exists, and the brand is already established. We now need to reinitiate those arrangements and move forward.

Going international is one of our key priorities. The company previously had strong business in South Asia, the US and Europe, and we aim to revive those engagements.

Beyond your core railway and LED businesses, what diversification initiatives are underway?

We recently won a tender from the Chhattisgarh Government to build Rs 1.14 billion PCB manufacturing lab and Common Facility Centre (CFC) in New Raipur. This facility will enable businesses to use the infrastructure to start manufacturing operations.

This is a new vertical for us and distinct from our traditional railway and street lighting operations.

Additionally, we are exploring opportunities in the solar and energy storage space. Battery Energy Storage Systems (BESS) is an area I am looking at very positively, and we hope to enter this segment in the future.

What is the strategic intent behind your MoU with Refit Global, and which products are being considered under the refurbished segment through this collaboration?

Refit is doing commendable work in refurbishing mobile phones and electronic goods. This aligns with our long-term vision of sustainability and reducing environmental waste.

We aim to move towards circular electronics, designing products in a way that extends their life cycle and reduces e-waste. Instead of devices being discarded after three or four years, we want to encourage responsible lifecycle management.

Our facility has the capability to support design, implementation and execution of such initiatives. However, this collaboration is currently at a preliminary stage, and we will be able to share more details as it progresses.

The focus is on refurbishing mobile phones and other electronic goods as part of a sustainability-driven approach. The broader objective is to support circular electronics by ensuring that products are designed and managed for longer life cycles, thereby reducing e-waste. This initiative is still at an early stage.

How has revenue performance been, and what growth do you anticipate?

The majority of our revenue currently comes from the railway segment.

We recently declared our Q3 numbers, and they have been good. While we believe we can do better, we are targeting approximately 50 to 55 per cent year-on-year growth from current levels, excluding any acquisitions.

With increased budget allocations for Indian Railways, we expect to maximise opportunities and increase our market share significantly.

How do you see the increased allocation to Indian Railways translating into opportunities for your business?

The increased allocation to railways is a positive development. It is focused on improving connectivity and enhancing passenger experience.

New stations are being developed to offer airport-like facilities, and there is significant digitisation and integration taking place.

Our role becomes critical in this transformation because our systems, passenger information, announcement systems and display infrastructure, directly contribute to delivering accurate information and a better travel experience for railway passengers.

What are your key growth priorities in the coming years?

Our foremost priority is partnership-led growth. The market is vast, and collaboration will be key. You will see more partnerships being rolled out in the coming period.

Secondly, while pursuing partnerships, we will prioritise integrity and product quality. These values are fundamental to our organisation and central to our decision-making.

Thirdly, international expansion is a major focus. Given our historical export presence in South Asia, the US and Europe, we intend to revive and scale our global footprint.

These three areas, partnerships, value-driven growth, and international expansion, form our core priorities going forward.