Mirza International Ltd

Mirza International Ltd

₹ 46.0 2.56%
21 Jun - 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

  • Market Cap 636 Cr.
  • Current Price 46.0
  • High / Low 63.6 / 39.5
  • Stock P/E 52.8
  • Book Value 40.0
  • Dividend Yield 0.00 %
  • ROCE 4.95 %
  • ROE 2.22 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Stock is trading at 1.15 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -0.38%
  • The company has delivered a poor sales growth of -11.4% over past five years.
  • Company has a low return on equity of 7.45% over last 3 years.
  • Debtor days have increased from 36.5 to 45.8 days.
  • 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

Sector: Leather Industry: Leather / Leather Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
312.78 251.77 392.74 589.57 165.13 186.01 176.25 129.87 160.87 127.60 208.70 141.67 152.43
272.62 215.98 344.33 509.69 149.70 162.87 156.08 115.91 151.73 116.65 196.66 126.25 140.35
Operating Profit 40.16 35.79 48.41 79.88 15.43 23.14 20.17 13.96 9.14 10.95 12.04 15.42 12.08
OPM % 12.84% 14.22% 12.33% 13.55% 9.34% 12.44% 11.44% 10.75% 5.68% 8.58% 5.77% 10.88% 7.92%
0.33 0.88 10.85 5.40 0.09 0.24 0.13 0.16 4.51 0.97 3.19 1.55 0.52
Interest 7.42 6.49 7.34 6.48 3.10 2.05 2.71 1.90 3.12 2.02 2.36 3.94 3.48
Depreciation 20.08 14.58 18.14 17.32 7.02 6.57 6.32 7.16 5.67 7.04 6.40 7.18 7.71
Profit before tax 12.99 15.60 33.78 61.48 5.40 14.76 11.27 5.06 4.86 2.86 6.47 5.85 1.41
Tax % 31.56% 25.90% 20.87% 28.55% -47.96% 29.13% 20.76% 24.31% 33.95% 14.69% 38.02% 24.96% 16.31%
8.89 11.55 26.72 43.92 7.98 10.46 8.93 3.83 3.22 2.44 4.01 4.40 1.19
EPS in Rs 0.74 0.96 2.22 3.65 0.66 0.87 0.74 0.32 0.23 0.18 0.29 0.32 0.09
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 Mar 2023 Mar 2024
225 287 289 936 972 1,152 1,261 1,049 1,399 653 630
207 258 286 775 797 1,009 1,089 930 1,223 590 582
Operating Profit 18 29 3 161 175 143 172 119 176 63 49
OPM % 8% 10% 1% 17% 18% 12% 14% 11% 13% 10% 8%
15 21 27 1 -1 3 2 0 18 8 8
Interest 7 14 15 26 25 34 46 41 23 10 12
Depreciation 7 8 9 29 32 35 63 67 58 26 28
Profit before tax 19 28 6 107 118 76 64 12 113 36 17
Tax % 37% 37% 44% 33% 33% 36% 26% 30% 23% 26% 27%
12 18 3 72 78 49 48 8 86 26 12
EPS in Rs 1.27 1.90 0.35 5.96 6.52 4.06 3.97 0.69 7.19 1.91 0.87
Dividend Payout % 39% 26% 86% 15% 14% 22% 23% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -11%
3 Years: -16%
TTM: -3%
Compounded Profit Growth
10 Years: %
5 Years: -24%
3 Years: 11%
TTM: -50%
Stock Price CAGR
10 Years: 27%
5 Years: 41%
3 Years: 82%
1 Year: -8%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 7%
Last Year: 2%

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 Mar 2023 Mar 2024
Equity Capital 19 19 19 24 24 24 24 24 28 28 28
Reserves 98 107 113 478 548 588 604 614 481 506 525
107 112 113 156 283 357 288 140 49 26 35
51 62 63 106 146 147 344 392 174 169 131
Total Liabilities 274 300 308 764 1,002 1,115 1,260 1,170 732 729 719
111 118 124 354 357 409 585 568 361 394 392
CWIP 13 18 30 2 25 5 11 8 4 1 11
Investments 6 2 6 1 1 1 1 2 7 12 8
145 163 148 408 619 701 663 592 360 322 308
Total Assets 274 300 308 764 1,002 1,115 1,260 1,170 732 729 719

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 Mar 2023 Mar 2024
-4 29 114 -24 35 228 238 -4 47 50
-18 -19 -36 -59 -67 -63 -41 55 -53 -29
12 -10 -82 89 26 -157 -201 -12 -32 -17
Net Cash Flow -10 -1 -5 6 -6 8 -3 39 -39 3

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 Mar 2023 Mar 2024
Debtor Days 44 45 39 26 50 49 41 28 15 48 46
Inventory Days 292 218 180 192 291 240 214 264 70 155 149
Days Payable 57 59 58 29 65 45 50 68 47 91 73
Cash Conversion Cycle 279 204 161 189 275 244 206 224 38 113 121
Working Capital Days 179 150 123 120 177 176 134 138 40 96 111
ROCE % 18% 9% 19% 12% 12% 6% 20% 8%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.66% 67.79% 67.91% 67.91% 67.91% 67.95% 68.15% 71.77% 71.77% 71.76% 71.77% 71.39%
0.04% 1.65% 2.82% 3.00% 3.42% 3.49% 3.09% 1.56% 2.40% 1.38% 0.47% 0.34%
0.04% 0.04% 0.04% 0.04% 3.11% 3.87% 4.47% 4.13% 0.00% 0.00% 0.00% 0.00%
32.26% 30.52% 29.23% 29.05% 25.56% 24.69% 24.30% 22.55% 25.83% 26.85% 27.75% 28.27%
No. of Shareholders 57,56864,26968,22167,61567,75270,80872,75673,02991,50087,64487,98087,833

* 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.

Click on the line-items to see the names of individual entities.

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