Mirc Electronics Ltd — Board/Management Information 2026

Apr 30, 2026

ONIDA
OWNER'S PRIDE

Date: April 30, 2026
Ref. No. 09/2026-27

| To,
The Manager - Corporate Compliance
BSE Limited
25^{th} Floor, P.J. Towers, Dalal Street,
Mumbai-400 001
Scrip Code: 500279 | To,
The Manager - Corporate Compliance
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai- 400 051
Symbol: MIRCELECTR |
| --- | --- |

Subject: Disclosure under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Dear Sir / Madam,

Pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, we hereby inform you that the Company has, at its Extra Ordinary General Meeting (EOGM) held on April 29, 2026, approved the following:

1. Grant of 2,95,00,000 Employee Stock Options to Mr. Gunjan Srivastava, CEO, under the MIRC Employee Stock Option Plan 2023
2. Change of Name of the Company to “Onida Electronics Limited” and consequent alteration to the Name Clause of the Memorandum of Association and Articles of Association of the Company

The details as required under SEBI Master Circular Ho/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed herewith as Annexure A & Annexure B respectively to this letter.

You are kindly requested to take the above on records.

Thanking You.

Yours Faithfully,

for MIRC Electronics Limited

VIJAY JAIKRISHIN
MANSUKHANI
Digitally signed by VIJAY
JAIKRISHIN MANSUKHANI
Date: 2026.04.30 18:27:19
+05'30'

Vijay Mansukhani
Chairman & Managing Director
DIN: 01041809
Encl: - As above

MIRC ELECTRONICS LIMITED
Regd. Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093.
Tel.: +91-22-6697 5777
CIN No.: L32300MH1981PLC023637. Website: www.onida.com

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ONIDA
OWNER'S PRIDE
Annexure A

Details required under the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Details of the grant of options under the 'MIRC Electronics Employee Stock Option Plan 2023'

Brief details of options granted	2,95,00,000 stock options granted to Mr. Gunjan Kumar Srivastava, Chief Executive Officer (CEO) of the Company. Each option upon exercise would be entitled for allotment of one equity share of Re. 1/- each of the Company.
Whether the scheme is in terms of SEBI (SBEB) Regulations, 2021 (if applicable)	Yes
Total number of shares covered by these options	2,95,00,000 equity shares of Re. 1/- each (each stock option is convertible into 1 equity share of face value of Re.1/- each)
Pricing formula
	Component	Number of Options Granted	Exercise Price per Option (in Rs.)
	Time-Based Grant	90,00,000	11.40
	Performance-Based Grant	2,05,00,000	16.81
	Total Options Granted	2,95,00,000	-
Options vested	The Options granted under the time-based grant shall vest based purely on continuous employment with the Company. The Options granted under the time-based grant shall vest as follows (each date a “Vesting Date”) provided grantee is employed with the Company on each such Vesting Date.
	Vesting Date	Vesting Percentage	No. of Options Vesting
	31/03/2027	20%	18,00,000
	31/03/2028	20%	18,00,000
	31/03/2029	20%	18,00,000
	31/03/2030	20%	18,00,000
	31/03/2031	20%	18,00,000

MIRC ELECTRONICS LIMITED
Regd. Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093.
Tel.: +91-22-6697 5777
CIN No.: L32300MH1981PLC023637. Website: www.onida.com

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ONIDA
OWNER'S PRIDE

	The Vesting of the performance-based ESOPs shall be linked to the achievement of the following cumulative operating EBITDA targets: • Tranche 1: Cumulative operating EBITDA target of INR 100 Crores for the period FY 27 to FY 30 (April 1, 2026 to March 31, 2030) • Tranche 2: Cumulative operating EBITDA target of INR 400 Crores for the period FY 27 to FY 32 (April 1, 2026 to March 31, 2032).
Time within which option may be exercised	The Vested Options with an Option Grantee while in employment/service with the Company may be Exercised anytime within the Exercise Window(s) in one or more tranches, provided it is within a period of 2 (two) years from the Vesting Date or such other period as may be determined by the Compensation Committee.
Options exercised	Not applicable
Money realized by exercise of options
The total number of shares arising as a result of exercise of option
Options lapsed
Variation of terms of options
Brief details of significant terms
Subsequent changes or cancellation or exercise of such options
Diluted earnings per share pursuant to issue of equity shares on exercise of options

MIRC ELECTRONICS LIMITED
Regd. Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093.
Tel.: +91-22-6697 5777
CIN No.: L32300MH1981PLC023637. Website: www.onida.com

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ONIDA
OWNER'S PRIDE

Annexure B

Details required under the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Brief details of Amendments to the Memorandum and Articles of Association

Sr. No.	Particulars	Description
1	Type of Amendment	Alteration of the Name Clause of the Memorandum of Association (MoA) and consequential amendments to the Articles of Association (AoA)
2	Existing Name	MIRC Electronics Limited
3	New Name	Onida Electronics Limited
4	Rationale for Change	To align the corporate identity with the well-established flagship brand "Onida," enhance brand recall, create a direct linkage between the Company’s name and its core business, and eliminate market confusion
5	Date of Shareholder Approval	April 29, 2026 (via Special Resolution at the EGM)
6	Compliance with Regulation 45	The Company has complied with the conditions specified in Regulation 45 of the SEBI (LODR) Regulations, including obtaining a certificate from a Practicing Chartered Accountant confirming compliance
7	Effective Date	The change of name will be complete and effective upon the issuance of a fresh Certificate of Incorporation by the Registrar of Companies (ROC)

Thanking You.

Yours Faithfully,

for MIRC Electronics Limited

VIJAY
JAIKRISHIN
MANSUKHANI
Digitally signed by VIJAY JAIKRISHIN
Date: 2026.04.30 18:27:53 +05'30'

Vijay Mansukhani
Chairman & Managing Director
DIN: 01041809

MIRC ELECTRONICS LIMITED
Regd. Office: Onida House, G-1, M.I.D.C, Mahakali Caves Road, Andheri (East), Mumbai-400 093.
Tel.: +91-22-6697 5777
CIN No.: L32300MH1981PLC023637. Website: www.onida.com