Mirza International Ltd

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

Pros:
Company has been maintaining a healthy dividend payout of 38.24%
Cons:

Peer Comparison

Leather >> 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
205.19 252.08 240.40 253.95 225.65 261.84 295.78
165.96 207.95 197.96 207.90 184.28 218.65 253.19
Operating Profit 39.23 44.13 42.44 46.05 41.37 43.19 42.59
OPM % 19.12% 17.51% 17.65% 18.13% 18.33% 16.49% 14.40%
Other Income 0.73 0.06 0.01 0.03 0.32 0.06 0.08
Interest 6.21 5.92 5.30 6.64 7.10 7.35 9.06
Depreciation 7.77 7.17 7.55 8.01 8.88 7.87 8.46
Profit before tax 25.98 31.10 29.60 31.43 25.71 28.03 25.15
Tax % 32.06% 34.37% 34.63% 33.47% 30.96% 35.50% 35.94%
Net Profit 17.65 20.41 19.35 20.91 17.75 18.07 16.11

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

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 TTM
225 287 289 936 972 1,037
207 258 286 775 797 864
Operating Profit 18 29 3 161 175 173
OPM % 8% 10% 1% 17% 18% 17%
Other Income 15 21 27 1 -1 0
Interest 7 14 15 26 25 30
Depreciation 7 8 9 29 32 33
Profit before tax 19 28 6 107 118 110
Tax % 37% 37% 44% 33% 33%
Net Profit 12 18 3 72 78 73
EPS in Rs 1.20 1.82 0.28 5.78 6.52
Dividend Payout % 39% 26% 86% 15% 14%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:50.24%
TTM:None%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:64.63%
TTM:None%
Return on Equity
10 Years:%
5 Years:%
3 Years:15.68%
TTM:14.73%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018 Sep 2018
19 19 19 24 24 24
Reserves 98 107 113 478 548 579
Borrowings 107 112 113 156 283 284
51 63 64 110 148 249
Total Liabilities 275 301 309 768 1,003 1,136
111 118 124 354 357 398
CWIP 13 18 30 2 25 3
Investments 6 2 6 1 1 1
146 164 149 411 621 734
Total Assets 275 301 309 768 1,003 1,136

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

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

Ratios Consolidated / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2017 Mar 2018
ROCE % 18% 9% 29% 19%
Debtor Days 44 45 39 26 50
Inventory Turnover 3 3 5 3