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MIC Electronics Limited receives Letter of Acceptance from Indian Railways

Jul 25, 2023

By: BlinkX Research Team

A letter of acceptance has been received by MIC Electronics Ltd from the Sambalpur Division of the East- Coast Railway Zone of Indian Railways for the provision of coach indicator boards and train indicator boards at various stations in connection with Amrit Bharat Work. MIC Electronics Ltd is a global leader in the design, development, and manufacturing of LED Video Displays, high-end electronic and telecommunication equipment, and development of telecom software. 

The aforementioned work order would be finished six months after the LOI and will cost a total of Rs 3,56,12,140.52 (or Rs 3.56 crore). 

Previously, the Delhi Division of the Northern Railway Zone of Indian Railways placed an order to the company of Rs. 4.39 crores. Order covers that several stations in the Delhi Division will receive passenger amenities (Telecom), as well as an expansion of the information system to enable Divyangjan and utility relocation in connection with the Amrit Bharat Station programme. 

Additionally, the business released its Q1FY24 quarterly results, showing that revenue from operations increased by 241.32% from Rs 2.42 crore and that net profit increased by 200% from Rs 1.24 crore in Q1FY23 to Rs 1.24 crore in Q1FY24.

Source: Media Reports