Mirza International Ltd

₹ 32.3 1.96%

29 May - close price

About

Incorporated in 1979, Mirza International Ltd is a manufacturer & exporter of finished leather, Footwear and trader of footwear and apparels and allied products^[1]

Key Points

Business Divisions:^[1]
a) Tannery Division:
Manufacturing Finished Leather from Raw Hides, Wet Blue & Crust
b) Shoe Division:
Manufacturing Finished Leather Shoes
c) Garments/ Accessories Division:
Trading of Garments/Accessories

Website BSE NSE

Market Cap ₹ 446 Cr.
Current Price ₹ 32.3
High / Low ₹ 44.0 / 24.8
Stock P/E
Book Value ₹ 34.0
Dividend Yield 0.00 %
ROCE -1.89 %
ROE -3.29 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.95 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -13.2% over past five years.
Company has a low return on equity of -0.50% over last 3 years.
Contingent liabilities of Rs.197 Cr.
Earnings include an other income of Rs.19.7 Cr.

* 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

Consumer Discretionary Consumer Durables Consumer Durables Leather And Leather Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	150	124	199	137	143	137	198	114	120	141	170	107	98
	144	116	184	123	133	126	184	113	112	129	155	109	103
Operating Profit	7	8	15	14	10	11	14	1	9	12	15	-2	-5
OPM %	4%	7%	7%	10%	7%	8%	7%	1%	7%	9%	9%	-2%	-5%
	5	3	2	1	1	0	0	0	0	19	0	0	1
Interest	2	2	2	2	2	1	3	3	2	2	2	1	1
Depreciation	6	7	6	7	8	8	7	8	8	8	8	8	8
Profit before tax	3	2	9	6	1	2	5	-10	-1	21	5	-10	-13
Tax %	25%	11%	30%	23%	39%	25%	32%	-23%	-49%	17%	19%	-25%	-11%
	2	2	6	5	1	1	3	-7	-0	18	4	-8	-12
EPS in Rs	0.17	0.16	0.44	0.35	0.05	0.10	0.23	-0.53	-0.04	1.28	0.29	-0.57	-0.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	918	926	936	972	1,152	1,260	1,047	1,386	627	603	570	516
	775	755	775	797	1,009	1,088	930	1,209	568	556	537	496
Operating Profit	143	171	161	175	143	172	117	177	59	47	33	21
OPM %	16%	18%	17%	18%	12%	14%	11%	13%	9%	8%	6%	4%
	-1	3	1	-1	3	2	0	18	8	7	2	20
Interest	39	32	26	25	34	46	41	23	8	7	9	7
Depreciation	25	26	29	32	35	63	66	58	25	28	30	31
Profit before tax	79	116	107	118	76	64	10	114	34	18	-5	3
Tax %	35%	33%	33%	33%	36%	26%	29%	25%	23%	26%	-16%	19%
	51	78	72	78	49	48	7	86	26	13	-4	2
EPS in Rs	5.52	6.49	5.96	6.52	4.05	3.96	0.61	7.11	1.90	0.97	-0.29	0.15
Dividend Payout %	9%	7%	15%	14%	22%	23%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-6%
5 Years:	-13%
3 Years:	-6%
TTM:	-9%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-203%

Stock Price CAGR
10 Years:	10%
5 Years:	36%
3 Years:	-12%
1 Year:	4%

Return on Equity
10 Years:	7%
5 Years:	4%
3 Years:	-1%
Last Year:	-3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	19	22	24	24	24	24	24	28	28	28	28	28
Reserves	294	422	478	548	588	604	613	406	428	442	436	442
	218	207	156	283	357	288	140	49	26	20	42	0
	127	111	106	146	147	344	391	134	111	108	86	86
Total Liabilities	657	762	764	1,002	1,115	1,260	1,168	617	593	598	592	556
	308	336	349	357	409	585	563	289	314	313	324	299
CWIP	3	9	2	25	5	11	11	4	0	11	2	5
Investments	1	1	4	1	1	2	3	10	15	11	11	10
	346	416	410	619	701	663	591	315	263	263	255	242
Total Assets	657	762	764	1,002	1,115	1,260	1,168	617	593	598	592	556

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	97	90	114	-24	35	228	234	341	69	41	21
	-59	-34	-36	-59	-67	-63	-39	-231	-39	-29	-33
	-39	-51	-82	89	26	-157	-201	-113	-31	-14	13
Net Cash Flow	-1	6	-5	6	-6	8	-5	-3	-1	-2	2
Free Cash Flow	38	46	80	-83	-34	165	194	110	29	6	-10
CFO/OP	87%	71%	91%	6%	45%	144%	200%	209%	138%	101%	73%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	25	26	50	49	41	28	28	47	49	38	43
Inventory Days	151	191	192	291	240	215	264	59	121	134	141	124
Days Payable	56	40	29	65	45	50	68	42	59	61	45	51
Cash Conversion Cycle	113	175	189	275	244	206	224	45	109	122	135	116
Working Capital Days	18	55	70	82	76	61	92	38	86	96	93	109
ROCE %	23%	25%	20%	19%	12%	12%	6%	22%	8%	5%	1%	-2%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Annual Footwear Manufacturing Capacity
Million Pairs

x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
x,xxx	x,xxx		x,xxx	xxx	xxx	xxx	xxx		x,xxx	x,xxx
xx.xx			xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx			x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
xx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx

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Total Workforce/Employees
Number

Annual New Designs/Articles Introduced
Units

Footwear Capacity Utilization
%

Footwear Export/Sales Volume
Million Pairs

Number of Exclusive Brand Outlets (EBOs)
Units

Shop-in-Shop (SIS) Outlets
Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	71.77%	71.76%	71.77%	71.39%	71.27%	71.27%	71.27%	71.27%	71.27%	71.37%	72.99%	72.99%
	2.40%	1.38%	0.47%	0.34%	0.34%	0.30%	0.17%	0.14%	0.14%	0.14%	0.25%	0.17%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	25.83%	26.85%	27.75%	28.27%	28.38%	28.44%	28.55%	28.57%	28.58%	28.46%	26.75%	26.82%
No. of Shareholders	91,500	87,644	87,980	87,833	84,125	81,943	81,079	83,184	81,699	83,053	78,777	77,176

	Feb 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	70.87%	73.78%	70.43%	70.22%	70.42%	67.66%	67.91%	71.77%	71.39%	71.27%	72.99%
	0.00%	0.42%	3.58%	0.63%	0.06%	0.04%	3.00%	1.56%	0.34%	0.14%	0.17%
	2.05%	0.16%	2.88%	0.95%	0.14%	0.04%	0.04%	4.13%	0.00%	0.01%	0.01%
	27.07%	25.64%	23.11%	28.21%	29.37%	32.26%	29.05%	22.55%	28.27%	28.57%	26.82%
No. of Shareholders	26,390	41,883	36,751	41,747	42,176	52,648	67,615	73,029	87,833	83,184	77,176

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Mirza International Ltd

Mirza International Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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