Mirza International Ltd

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

Pros:
Stock is trading at 1.08 times its book value
Company has been maintaining a healthy dividend payout of 17.03%
Cons:

Peer Comparison Sector: Leather // Industry: Leather / Leather Products

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
205 252 240 254 226 262 296 307 287 308 306
166 208 198 208 184 219 253 277 259 274 261
Operating Profit 39 44 42 46 41 43 43 30 28 34 45
OPM % 19% 18% 18% 18% 18% 16% 14% 10% 10% 11% 15%
Other Income 1 0 0 0 0 0 0 0 2 0 0
Interest 6 6 5 7 7 7 9 9 9 10 14
Depreciation 8 7 8 8 9 8 8 9 10 9 21
Profit before tax 26 31 30 31 26 28 25 12 11 15 11
Tax % 32% 34% 35% 33% 31% 36% 36% 37% 35% 36% 11%
Net Profit 18 20 19 21 18 18 16 8 7 10 10
EPS in Rs 1.47 1.64 1.58 1.74 1.48 1.50 1.34 0.62 0.59 0.79 0.80
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 TTM
225 287 289 936 972 1,152 1,208
207 258 286 775 797 1,008 1,071
Operating Profit 18 29 3 161 175 144 137
OPM % 8% 10% 1% 17% 18% 12% 11%
Other Income 15 21 27 1 -1 2 2
Interest 7 14 15 26 25 34 42
Depreciation 7 8 9 29 32 35 49
Profit before tax 19 28 6 107 118 76 49
Tax % 37% 37% 44% 33% 33% 36%
Net Profit 12 18 3 72 78 49 34
EPS in Rs 1.20 1.82 0.28 5.78 6.52 4.06 2.80
Dividend Payout % 39% 26% 86% 15% 14% 22%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:16.48%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-53.68%
Stock Price CAGR
10 Years:14.01%
5 Years:6.04%
3 Years:-7.64%
1 Year:-30.88%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:8.18%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 Sep 2019
19 19 19 24 24 24 24
Reserves 98 107 113 478 548 588 593
Borrowings 107 112 113 156 283 357 330
51 63 64 110 151 151 344
Total Liabilities 275 301 309 768 1,006 1,120 1,291
111 118 124 354 357 409 557
CWIP 13 18 30 2 25 5 16
Investments 6 2 6 1 1 1 1
146 164 149 411 624 705 718
Total Assets 275 301 309 768 1,006 1,120 1,291

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019
-4 29 114 -24 35
-18 -19 -36 -59 -67
12 -10 -82 89 26
Net Cash Flow -10 -1 -5 6 -6

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019
ROCE % 18% 9% 19% 12%
Debtor Days 44 45 39 26 50 49
Inventory Turnover 2.86 3.01 3.01 2.82