Miracle Electronic Devices Pvt. Ltd. Company Profile

Background

Established in 1994, Miracle Electronic Devices Pvt. Ltd. is a prominent manufacturer specializing in transformers, inductors, wire harnesses, volume controllers, voltage stabilizers, and electronic box assemblies. The company is headquartered in Bangalore, Karnataka, India, and has expanded its reach to serve customers in over 20 countries worldwide. With a dedicated workforce of approximately 250 employees, Miracle Electronics is committed to delivering high-quality, precision-engineered components across various industries, including aerospace, defense, medical, industrial, and automotive sectors.

Key Strategic Focus

Miracle Electronics focuses on designing and manufacturing a comprehensive range of transformers and wiring harnesses tailored for critical applications. The company's product portfolio includes:

• Transformers: Toroidal, laminated, E&I, medical isolation, and planar transformers.

• Inductors: Custom-designed inductors for various applications.

• Wire Harnesses: Complex wiring solutions for diverse industries.

• Volume Controllers and Voltage Stabilizers: Devices ensuring optimal performance of electronic systems.

• Electronic Box Assemblies: Comprehensive assembly solutions for electronic devices.

The company leverages advanced manufacturing technologies and adheres to stringent quality standards to meet the specific requirements of its global clientele.

Financials and Funding

As of the financial year ending March 31, 2023, Miracle Electronics reported an operating revenue in the range of INR 1 crore to 100 crore. The company's EBITDA decreased by 7.53% compared to the previous year, while its book net worth increased by 30.84%. The authorized share capital stands at INR 1 crore, with a paid-up capital of INR 75 lakh.

Technological Platform and Innovation

Miracle Electronics distinguishes itself through its commitment to innovation and quality. The company holds several industry certifications, including AS9100, ISO 13485:2012, and ISO 9001:2008, reflecting its adherence to international quality standards. Additionally, Miracle Electronics is a member of various esteemed organizations such as ESC, WHMA, Kassia, AHK, Dun & Bradstreet, EU Chambers, ISHRAE, FEIO, IOD, IPC, IACC, Clik, FKCCI, and PIA, underscoring its active participation in the global electronics manufacturing community.

Leadership Team

The leadership team at Miracle Electronics comprises experienced professionals dedicated to steering the company towards continued growth and innovation:

• Jitendra Kanaiyalal Davda: Director since March 2, 1994.

• Nilesh Shashikant Vadhar: Director since March 2, 1994.

• Anjana Vadhar Nileshkumar: Director since August 22, 2011.

• Sonal Jitendra Davda: Director since August 22, 2011.

These individuals bring a wealth of experience and expertise to the company, contributing significantly to its strategic direction and operational excellence.

Competitor Profile

Market Insights and Dynamics

The global market for electronic components, including transformers and wiring harnesses, is highly competitive and characterized by rapid technological advancements. Key factors influencing the market include the increasing demand for energy-efficient solutions, the expansion of the automotive and aerospace industries, and the growing emphasis on renewable energy sources.

Competitor Analysis

Miracle Electronics operates in a competitive landscape alongside several notable companies:

• Jabil Circuit India Private Limited: A global manufacturing services company offering a wide range of electronic components and solutions.

• Sterlite Technologies Ltd.: Specializes in optical communication products and solutions.

• Supertron Electronics Private Limited: A distributor of IT hardware and peripherals.

• Schneider Electric It Business India Private Limited: Provides energy management and automation solutions.

• Flextronics Technologies (India) Private Limited: Offers design, engineering, and manufacturing services for various industries.

These competitors have established significant market presence and offer diverse product portfolios, posing challenges and opportunities for Miracle Electronics.

Strategic Collaborations and Partnerships

Miracle Electronics has established partnerships with several organizations to enhance its market position and innovation capacity. Notable collaborations include:

• Forms & Surfaces: A company specializing in architectural products, with which Miracle Electronics has engaged in multiple shipments.

• Myers Emergency Power Systems LLC: A provider of backup power solutions, involved in recent shipments with Miracle Electronics.

• NXT Power LLC: A company focusing on power quality solutions, associated with Miracle Electronics through recent shipments.

These partnerships reflect Miracle Electronics' commitment to serving diverse industries and expanding its global footprint.

Operational Insights

Miracle Electronics' strategic considerations include:

• Quality Assurance: Maintaining high-quality standards through certifications and continuous improvement processes.

• Customer-Centric Approach: Tailoring products to meet the specific needs of clients across various industries.

• Global Reach: Expanding market presence through strategic partnerships and a robust distribution network.

These factors contribute to the company's competitive advantage and market differentiation.

Strategic Opportunities and Future Directions

Looking ahead, Miracle Electronics aims to:

• Expand Product Portfolio: Develop new products to meet emerging market demands.

• Enhance Technological Capabilities: Invest in research and development to stay at the forefront of technological advancements.

• Strengthen Global Presence: Forge new partnerships and enter untapped markets to drive growth.

By leveraging its current strengths and focusing on these strategic areas, Miracle Electronics is well-positioned to achieve its future objectives.

Contact Information

• Website: www.miracle.net.in

• LinkedIn: Miracle Electronic Devices Pvt. Ltd.

• Facebook: Miracle Electronics

• Twitter: @MiracleElec

For further inquiries, please visit the company's official website or social media profiles.