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 ₹ 40.7
Dividend Yield 0.00 %
ROCE -1.84 %
ROE -3.20 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.79 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -12.8% over past five years.
Company has a low return on equity of -0.62% over last 3 years.
Earnings include an other income of Rs.20.8 Cr.
Company's cost of borrowing seems high

* 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	161	128	209	142	152	144	201	114	122	142	164	118	103
	152	118	197	126	140	133	185	111	116	129	152	120	109
Operating Profit	9	9	12	15	12	11	17	3	6	13	13	-1	-7
OPM %	6%	7%	6%	11%	8%	7%	8%	3%	5%	9%	8%	-1%	-7%
	5	3	3	2	1	0	0	1	0	19	1	1	1
Interest	3	2	2	4	3	2	3	4	3	2	2	2	1
Depreciation	6	7	6	7	8	8	7	8	8	8	8	8	8
Profit before tax	5	3	6	6	1	1	7	-8	-4	22	3	-10	-15
Tax %	34%	15%	38%	25%	14%	41%	20%	-27%	6%	17%	30%	-26%	-10%
	3	2	4	4	1	1	6	-6	-4	18	2	-7	-13
EPS in Rs	0.23	0.18	0.29	0.32	0.09	0.05	0.43	-0.41	-0.32	1.29	0.16	-0.53	-0.96
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2007	Mar 2008	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	287	289	936	972	1,152	1,261	1,049	1,399	653	630	581	527
	258	286	775	797	1,009	1,089	930	1,223	590	582	546	509
Operating Profit	29	3	161	175	143	172	119	176	63	49	35	18
OPM %	10%	1%	17%	18%	12%	14%	11%	13%	10%	8%	6%	3%
	21	27	1	-1	3	2	0	18	8	8	3	21
Interest	14	15	26	25	34	46	41	23	10	12	11	8
Depreciation	8	9	29	32	35	63	67	58	26	28	31	31
Profit before tax	28	6	107	118	76	64	12	113	36	17	-4	-0
Tax %	37%	44%	33%	33%	36%	26%	30%	23%	26%	27%	-7%	850%
	18	3	72	78	49	48	8	86	26	12	-3	-1
EPS in Rs	1.90	0.35	5.96	6.52	4.06	3.97	0.69	7.19	1.91	0.87	-0.24	-0.04
Dividend Payout %	26%	86%	15%	14%	22%	23%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-13%
3 Years:	-7%
TTM:	-9%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-314%

Stock Price CAGR
10 Years:	10%
5 Years:	36%
3 Years:	-14%
1 Year:	4%

Return on Equity
10 Years:	6%
5 Years:	4%
3 Years:	-1%
Last Year:	-3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2007	Mar 2008	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	19	19	24	24	24	24	24	28	28	28	28	28
Reserves	107	113	478	548	588	604	614	481	506	525	537	535
	112	113	156	283	357	288	140	49	45	35	48	15
	62	63	106	146	147	344	392	174	151	131	122	114
Total Liabilities	300	308	764	1,002	1,115	1,260	1,170	732	729	719	734	692
	118	124	354	357	409	585	568	361	399	392	415	389
CWIP	18	30	2	25	5	11	8	4	1	11	2	5
Investments	2	6	1	1	1	1	2	7	7	8	9	9
	163	148	408	619	701	663	592	360	322	308	308	288
Total Assets	300	308	764	1,002	1,115	1,260	1,170	732	729	719	734	692

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2007	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	29	114	-24	35	228	238	-4	47	50	28
	-19	-36	-59	-67	-63	-41	55	-53	-25	-29
	-10	-82	89	26	-157	-201	-12	-32	-22	1
Net Cash Flow	-1	-5	6	-6	8	-3	39	-39	3	1
Free Cash Flow	9	80	-83	-33	165	196	51	-7	19	-16
CFO/OP	151%	91%	6%	45%	144%	200%	-3%	93%	115%	87%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2007	Mar 2008	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	45	39	26	50	49	41	28	15	48	46	42	48
Inventory Days	218	180	192	291	240	214	264	70	155	149	171	164
Days Payable	59	58	29	65	45	50	68	47	91	73	73	69
Cash Conversion Cycle	204	161	189	275	244	206	224	38	113	121	140	142
Working Capital Days	150	123	70	82	76	61	91	28	91	90	96	122
ROCE %	18%	9%		19%	12%	12%	6%	20%	7%	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 ・Standalone data

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 ・Standalone data

Footwear Capacity Utilization
% ・Standalone data

Footwear Export/Sales Volume
Million Pairs

Number of Exclusive Brand Outlets (EBOs)
Units ・Standalone data

Shop-in-Shop (SIS) Outlets
Units ・Standalone data

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

Documents

Announcements

Annual reports

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