The Board of Directors of Onida Electronics Limited (formerly MIRC Electronics Limited) at their meeting held on July 03, 2026, approved significant changes in the top leadership team. The board appointed Mr. Gunjan Srivastava as the Chief Executive Officer and Additional & Managing Director, effective July 04, 2026. Additionally, Mr. Jayesh Gandhi was appointed as an Independent Director, and Mr. Manish Desai was appointed as the Chief Financial Officer and Whole-time Director. The board also noted the resignation of Mr. Shirish Suvagia from his roles as Whole Time Director and CFO, effective July 03, 2026, and approved the grant of 1,250,000 employee stock options under the MIRC Electronics Employee Stock Option Plan, 2023.

The board meeting, which spanned from 3:47 p.m. to 6:45 p.m. on July 03, 2026, was conducted via video conferencing. These appointments come as part of a broader organizational restructuring. Mr. Kaval Mirchandani, who previously served as the Managing Director, will transition to the role of Whole-time Director. The appointments of Mr. Gunjan Srivastava and Mr. Manish Desai are intended to strengthen the company’s management and financial leadership. Mr. Shirish Suvagia stepped down from his executive positions to pursue personal learning and professional development, specifically in artificial intelligence and emerging technologies.

Onida Electronics Limited, formerly known as MIRC Electronics Limited, is a consumer electronics manufacturer established in 1981. The company manufactures and markets consumer durables, including televisions, washing machines, and air conditioners, under the Onida brand, while also utilizing the IGO brand for rural markets. In 2025 and 2026, the company underwent significant corporate changes, including rebranding to align its corporate identity with its well-known brand and securing shareholder approval for capital raising through convertible warrants. The company has been venturing into new segments such as dishwashers and air coolers and has expanded its Electronic Manufacturing Services for OEMs.

Financial performance in 2025 reflected a challenging environment; the company reported revenue from operations of 746.69 Crores for the financial year ended March 31, 2025, compared to 968.03 Crores in the previous year. The company incurred a loss of 2.30 Crores for the same period. Notable shareholders in the company include Authum Investment and Infrastructure Limited, which holds approximately 21.3% of the shares, and the GLM Family Trust, which holds about 17.7%.