Upon googling "micromax market share", the first article that comes up was written on March 16th, 2016 [1]. That shows a dwindling market share. Other articles share same opinion. Although, the company has funded a new campaign[2] and the new Canvas series of smartphones from them look promising while maintaining a low price point.
[1]: http://www.dnaindia.com/money/report-how-did-micromax-lose-n... [2]: https://www.youtube.com/watch?v=c62z2bIZfC0
PS: Apart from a handful of friends who own Micromax phones, I have no interest in the company whatsoever.