Onida was started by G.L. Mirchandani and Vijay Mansukhani in 1981 in Mumbai. G.L. Mirchandani is the chairman and managing director of M/s Mirc Electronics Ltd. In 1982, Onida started assembling television sets at their factory in Andheri, Mumbai. It was established as Mirc Electronics in 1981. Since then, Onida has evolved into a multi product company in the consumer durables and appliances sector. Onida achieved a 100% growth in ACs and microwave ovens and a 40% growth in washing machines last year. Onida came out with the famous caption Neighbours Envy, Owners Pride. The popular theme of the ads was a devil complete with horns and tail in the 1980s. Onida has a network of 33 branch offices, 208 Customer Relation Centers and 41 depots spread across India. As on 31 March 2005, Onida had a market capitalization of 3,014.6 million.