Mirza International Ltd

Mirza Internatio Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Mirza International Ltd

₹ 268 -1.43%
22 Mar - close price
mirza.co.in BSE: 526642 NSE : MIRZAINT
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 3,710 Cr.
  • Current Price ₹ 268
  • High / Low ₹ 380 / 156
  • Stock P/E 23.0
  • Book Value ₹ 69.7
  • Dividend Yield 0.00 %
  • ROCE 22.3 %
  • ROE 16.1 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • 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 122 days to 94.9 days

Cons

  • Stock is trading at 3.85 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 8.67% 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
398 249 83 272 381 313 252 393 590 445 484 482 595
339 215 84 240 334 273 216 344 510 374 408 418 495
Operating Profit 59 34 -1 32 47 40 36 48 80 70 76 64 100
OPM % 15% 14% -1% 12% 12% 13% 14% 12% 14% 16% 16% 13% 17%
1 1 0 1 0 0 1 11 5 -11 2 3 1
Interest 11 10 10 11 12 7 6 7 6 7 5 6 6
Depreciation 16 17 12 16 18 20 15 18 17 10 18 16 17
Profit before tax 31 7 -24 6 17 13 16 34 61 42 55 45 77
Tax % 32% 0% 2% -9% 4% 32% 26% 21% 29% 28% 26% 26% 26%
Net Profit 21 7 -23 6 16 9 12 27 44 30 41 33 58
EPS in Rs 1.78 0.60 -1.93 0.53 1.34 0.74 0.96 2.22 3.65 2.51 3.41 2.72 4.79
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
225 287 289 936 972 1,152 1,261 1,049 1,679 2,005
207 258 286 775 797 1,009 1,089 930 1,444 1,695
Operating Profit 18 29 3 161 175 143 172 119 235 310
OPM % 8% 10% 1% 17% 18% 12% 14% 11% 14% 15%
15 21 27 1 -1 3 2 0 6 -5
Interest 7 14 15 26 25 34 46 41 27 25
Depreciation 7 8 9 29 32 35 63 67 60 61
Profit before tax 19 28 6 107 118 76 64 12 154 219
Tax % 37% 37% 44% 33% 33% 36% 26% 30% 26%
Net Profit 12 18 3 72 78 49 48 8 113 162
EPS in Rs 1.27 1.89 0.35 5.96 6.52 4.06 3.97 0.69 9.38 13.43
Dividend Payout % 39% 26% 86% 15% 14% 22% 23% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 13%
TTM: 30%
Compounded Profit Growth
10 Years: %
5 Years: 9%
3 Years: 33%
TTM: 77%
Stock Price CAGR
10 Years: 31%
5 Years: 20%
3 Years: 102%
1 Year: 65%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 9%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
19 19 19 24 24 24 24 24 24 24
Reserves 98 107 113 478 548 588 604 614 735 814
107 112 113 156 283 357 288 140 78 82
51 62 63 106 146 147 344 392 586 661
Total Liabilities 274 300 308 764 1,002 1,115 1,260 1,170 1,423 1,581
111 118 124 354 357 409 585 568 598 616
CWIP 13 18 30 2 25 5 11 8 16 18
Investments 6 2 6 1 1 1 1 2 2 2
145 163 148 408 619 701 663 592 807 945
Total Assets 274 300 308 764 1,002 1,115 1,260 1,170 1,423 1,581

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-4 29 114 -24 35 228 238 193
-18 -19 -36 -59 -67 -63 -41 -81
12 -10 -82 89 26 -157 -201 -102
Net Cash Flow -10 -1 -5 6 -6 8 -3 10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 44 45 39 26 50 49 41 28 34
Inventory Days 292 218 180 192 291 240 214 264 203
Days Payable 57 59 58 29 65 45 50 68 98
Cash Conversion Cycle 279 204 161 189 275 244 206 224 139
Working Capital Days 179 150 123 120 177 176 134 138 95
ROCE % 18% 9% 19% 12% 12% 6% 22%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
70.45 70.45 70.29 67.66 67.66 67.79 67.91 67.91 67.91 67.95 68.15 71.75
0.06 0.04 0.04 0.04 0.04 1.65 2.82 3.00 3.42 3.49 3.09 2.16
0.12 0.04 0.04 0.04 0.04 0.04 0.04 0.04 3.11 3.87 4.47 3.91
29.36 29.47 29.63 32.26 32.26 30.52 29.23 29.05 25.56 24.69 24.30 22.18

* 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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