Mirza International Ltd

Mirza International is a leading manufacturer & exporter of finished leather,Footwear and trader of footwear and apparels.

  • Market Cap: 587.69 Cr.
  • Current Price: 48.85
  • 52 weeks High / Low 72.00 / 27.25
  • Book Value: 52.19
  • Stock P/E: 12.33
  • Dividend Yield: 1.84 %
  • ROCE: 12.03 %
  • ROE: 8.18 %
  • Sales Growth (3Yrs): 7.55 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 2.00
Edit ratios
Pros:
Stock is trading at 0.94 times its book value
Company has been maintaining a healthy dividend payout of 17.03%
Cons:
The company has delivered a poor growth of 10.25% over past five years.
Company has a low return on equity of 12.43% for last 3 years.
Promoter holding has decreased over last 3 years: -3.33%

Peer comparison Sector: Leather // Industry: Leather / Leather Products

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
252.08 240.40 253.95 225.65 261.84 295.78 307.12 286.96 307.80 306.04 397.44 248.90
207.95 197.96 207.90 184.28 218.65 253.19 277.50 258.69 273.96 261.04 338.63 214.87
Operating Profit 44.13 42.44 46.05 41.37 43.19 42.59 29.62 28.27 33.84 45.00 58.81 34.03
OPM % 17.51% 17.65% 18.13% 18.33% 16.49% 14.40% 9.64% 9.85% 10.99% 14.70% 14.80% 13.67%
Other Income 0.06 0.01 0.03 0.32 0.06 0.08 0.27 1.68 0.06 0.20 0.59 0.82
Interest 5.92 5.30 6.64 7.10 7.35 9.06 8.77 9.14 10.06 13.64 11.47 10.40
Depreciation 7.17 7.55 8.01 8.88 7.87 8.46 9.22 9.90 8.80 20.77 16.38 17.44
Profit before tax 31.10 29.60 31.43 25.71 28.03 25.15 11.90 10.91 15.04 10.79 31.55 7.01
Tax % 34.37% 34.63% 33.47% 30.96% 35.50% 35.94% 37.23% 34.46% 36.44% 11.40% 31.76% 0.00%
Net Profit 20.41 19.35 20.91 17.75 18.07 16.11 7.46 7.14 9.55 9.56 21.53 7.02
EPS in Rs 1.70 1.58 1.72 1.48 1.50 1.34 0.62 0.59 0.79 0.79 1.79 0.58
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
291 332 347 484 557 643 707 918 926 936 972 1,152 1,260
288 327 325 401 469 527 582 775 755 775 797 1,008 1,088
Operating Profit 3 5 22 84 88 116 125 143 171 161 175 144 172
OPM % 1% 2% 6% 17% 16% 18% 18% 16% 18% 17% 18% 12% 14%
Other Income 28 29 31 5 7 -0 -3 -1 3 1 -1 2 2
Interest 15 14 14 17 27 32 32 39 32 26 25 34 46
Depreciation 9 10 11 14 15 20 22 25 26 29 32 35 63
Profit before tax 6 9 28 57 52 64 68 79 116 107 118 76 64
Tax % 41% 41% 33% 32% 32% 33% 36% 35% 33% 33% 33% 36%
Net Profit 4 5 19 39 35 43 43 51 78 72 78 49 48
EPS in Rs 0.32 0.54 1.96 4.14 3.73 4.60 4.59 5.42 7.10 5.78 6.52 4.05 3.95
Dividend Payout % 77% 35% 20% 12% 13% 11% 11% 9% 7% 15% 14% 22%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.23%
5 Years:10.25%
3 Years:7.55%
TTM:9.42%
Compounded Profit Growth
10 Years:24.07%
5 Years:1.17%
3 Years:-14.74%
TTM:-2.30%
Stock Price CAGR
10 Years:11.77%
5 Years:-16.87%
3 Years:-31.99%
1 Year:-14.52%
Return on Equity
10 Years:15.53%
5 Years:14.44%
3 Years:12.43%
Last Year:8.18%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
19 19 19 19 19 19 19 19 24 24 24 24 24
Reserves 108 100 126 160 188 233 268 294 422 478 548 588 604
Borrowings 113 116 104 131 170 167 212 218 205 156 283 357 270
64 68 63 72 82 87 117 127 113 106 146 147 362
Total Liabilities 304 302 312 381 459 506 616 657 762 764 1,002 1,115 1,260
124 162 168 188 225 252 308 308 336 349 357 409 585
CWIP 30 6 5 16 17 30 7 3 9 2 25 5 11
Investments 1 1 1 1 1 1 1 1 1 4 1 1 2
149 134 138 177 217 224 300 346 416 410 619 701 663
Total Assets 304 302 312 381 459 506 616 657 762 764 1,002 1,115 1,260

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
49 38 45 36 50 89 48 97 90 114 -24 35
-28 -24 -17 -38 -46 -58 -54 -59 -34 -36 -59 -67
-19 -15 -28 5 3 -39 8 -39 -51 -82 89 26
Net Cash Flow 2 -1 -0 3 7 -8 2 -1 6 -5 6 -6

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 9% 10% 18% 26% 21% 24% 23% 23% 25% 20% 19% 12%
Debtor Days 38 27 34 24 24 18 22 17 25 26 50 49
Inventory Turnover 2.07 2.50 2.86 3.14 2.91 2.90 2.55 2.73 2.17 2.01 1.57 1.69

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
73.69 73.54 70.43 70.43 70.19 70.19 70.22 70.19 70.19 70.19 70.42 70.45
4.53 4.02 3.58 3.02 1.40 1.33 0.63 0.06 0.06 0.06 0.06 0.06
2.68 2.77 2.88 2.89 2.48 2.46 0.95 0.13 0.18 0.09 0.14 0.12
19.09 19.67 23.11 23.66 25.94 26.02 28.21 29.62 29.58 29.66 29.37 29.36