Mirza International Ltd
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]
- 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
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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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% |
Documents
Announcements
- Intimation Under Regulation 30 Of SEBI (LODR) Regulation 2015 ('SEBI LODR') 1d
- Intimation Of Record Date Pursuant To Regulation 42 Of The SEBI (LODR) Regulations, 2015 16 Mar
- Disclosure Under SEBI (Substantial Acquisition Of Shares And Takeover), Regulations, 2011 16 Mar
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 28 Feb
- Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011 28 Feb
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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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]