Mirza International Ltd
Founded in 1979, Mirza International Limited is India’s leading leather footwear manufacturer, marketer and exporter. It owns a portfolio of well recognized brands like Red Tape, oaktrak, MODE & Bond Street.
It is also the preferred supplier of leather footwear to leading international brands and one of the largest Indian suppliers of finished leather to overseas markets. [1]
- Market Cap ₹ 482 Cr.
- Current Price ₹ 34.8
- High / Low ₹ 49.6 / 21.2
- Stock P/E 3.06
- Book Value ₹ 69.2
- Dividend Yield 0.00 %
- ROCE 21.9 %
- ROE 15.8 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Stock is trading at 0.50 times its book value
- Company is expected to give good quarter
- Promoter holding has increased by 3.81% over last quarter.
- Company's working capital requirements have reduced from 123 days to 95.8 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.50% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Leather Industry: Leather / Leather Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
484 | 557 | 643 | 707 | 918 | 926 | 936 | 972 | 1,152 | 1,260 | 1,047 | 1,672 | 1,996 | |
400 | 469 | 527 | 582 | 775 | 755 | 775 | 797 | 1,009 | 1,088 | 930 | 1,441 | 1,693 | |
Operating Profit | 84 | 88 | 116 | 125 | 143 | 171 | 161 | 175 | 143 | 172 | 117 | 230 | 304 |
OPM % | 17% | 16% | 18% | 18% | 16% | 18% | 17% | 18% | 12% | 14% | 11% | 14% | 15% |
4 | 6 | -0 | -3 | -1 | 3 | 1 | -1 | 3 | 2 | 0 | 6 | -5 | |
Interest | 17 | 27 | 32 | 32 | 39 | 32 | 26 | 25 | 34 | 46 | 41 | 27 | 25 |
Depreciation | 14 | 15 | 20 | 22 | 25 | 26 | 29 | 32 | 35 | 63 | 66 | 60 | 61 |
Profit before tax | 57 | 52 | 64 | 68 | 79 | 116 | 107 | 118 | 76 | 64 | 10 | 149 | 213 |
Tax % | 32% | 32% | 33% | 36% | 35% | 33% | 33% | 33% | 36% | 26% | 29% | 26% | |
Net Profit | 39 | 35 | 43 | 43 | 51 | 78 | 72 | 78 | 49 | 48 | 7 | 110 | 158 |
EPS in Rs | 4.23 | 3.81 | 4.69 | 4.68 | 5.52 | 6.49 | 5.96 | 6.52 | 4.05 | 3.96 | 0.61 | 9.18 | 13.10 |
Dividend Payout % | 12% | 13% | 11% | 11% | 9% | 7% | 15% | 14% | 22% | 23% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 12% |
3 Years: | 13% |
TTM: | 30% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 9% |
3 Years: | 32% |
TTM: | 76% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 16% |
3 Years: | 88% |
1 Year: | 57% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 10% |
3 Years: | 9% |
Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
19 | 19 | 19 | 19 | 19 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | |
Reserves | 160 | 188 | 233 | 268 | 294 | 422 | 478 | 548 | 588 | 604 | 613 | 731 | 808 |
131 | 170 | 167 | 212 | 218 | 205 | 156 | 283 | 357 | 288 | 140 | 78 | 82 | |
72 | 82 | 87 | 117 | 127 | 113 | 106 | 146 | 147 | 344 | 391 | 584 | 661 | |
Total Liabilities | 381 | 459 | 506 | 616 | 657 | 762 | 764 | 1,002 | 1,115 | 1,260 | 1,167 | 1,417 | 1,575 |
188 | 225 | 252 | 308 | 308 | 336 | 349 | 357 | 409 | 585 | 567 | 597 | 615 | |
CWIP | 16 | 17 | 30 | 7 | 3 | 9 | 2 | 25 | 5 | 11 | 8 | 16 | 18 |
Investments | 1 | 1 | 1 | 1 | 1 | 1 | 4 | 1 | 1 | 2 | 3 | 3 | 3 |
177 | 217 | 224 | 300 | 346 | 416 | 410 | 619 | 701 | 663 | 590 | 801 | 939 | |
Total Assets | 381 | 459 | 506 | 616 | 657 | 762 | 764 | 1,002 | 1,115 | 1,260 | 1,167 | 1,417 | 1,575 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
36 | 50 | 89 | 48 | 97 | 90 | 114 | -24 | 35 | 228 | 234 | 188 | |
-38 | -46 | -58 | -54 | -59 | -34 | -36 | -59 | -67 | -63 | -39 | -80 | |
5 | 3 | -39 | 8 | -39 | -51 | -82 | 89 | 26 | -157 | -201 | -102 | |
Net Cash Flow | 3 | 7 | -8 | 2 | -1 | 6 | -5 | 6 | -6 | 8 | -5 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 24 | 24 | 18 | 22 | 17 | 25 | 26 | 50 | 49 | 41 | 28 | 34 |
Inventory Days | 138 | 143 | 136 | 175 | 151 | 191 | 192 | 291 | 240 | 215 | 264 | 203 |
Days Payable | 40 | 39 | 48 | 61 | 56 | 40 | 29 | 65 | 45 | 50 | 68 | 97 |
Cash Conversion Cycle | 122 | 129 | 107 | 135 | 113 | 175 | 189 | 275 | 244 | 206 | 224 | 140 |
Working Capital Days | 80 | 78 | 80 | 92 | 79 | 119 | 120 | 177 | 176 | 134 | 139 | 96 |
ROCE % | 26% | 21% | 24% | 23% | 23% | 25% | 20% | 19% | 12% | 12% | 6% | 22% |
Documents
Announcements
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015- Further Update On Allotment Of Shares By REDTAPE Limited Pursuant To The Scheme 1d
- Closure of Trading Window 1d
- Announcement Under Regulation 30 - Updates 1d
-
Clarification sought from Mirza International Ltd
1d - Exchange has sought clarification from Mirza International Ltd on March 31, 2023, with reference to Movement in Price.
- Announcement Under Regulation 30 - Updates 23 Mar
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Geogrpahical Revenue Breakup
The company derives majority of its revenues from India at 68.24%, UK - 17.77%, US - 4.76% and ROW - 9.23%. It exports its products to a total of 24 countries. [1]
Out of the total 32% contribution of export sales, only 4% of it was attributable to company's own brand RED TAPE. The majority of export sales came from selling white-labeled footwear. [2]