Market Cap ₹617 Cr.
Stock P/E 46.9
P/B 1.1
Current Price ₹44.7
Book Value ₹ 39.9
Face Value 2
52W High ₹65
Dividend Yield 0%
52W Low ₹ 41.5
Mirza International Ltd is engaged in the commercial enterprise of manufacturing leather and leather-based footwear, and working in apparels and it operates through segments which are, Shoe Division and Tannery Division. The Tannery Division is engaged inside the production of finished leather from Raw Hides, Wet Blue and Crust. The Company's Shoe Division is engaged in manufacturing finished leather-based shoes. Its export products comprises tanned leather, white label footwear and branded footwear. Its brands include Red Tape and Oaktrak. Red Tape consists of shoes; apparels, together with shirts, jackets, denims, tees, pants/shorts, and accessories, including belts, socks and wallets. Oaktrak includes both formal and urban patterns serving mobile executives and businessmen. The Company exports its merchandise to Germany, the United Kingdom, america and France, among others. In the United Kingdom, Red Tape branded merchandise are bought through chain shops and multi-brand outlets.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 393 | 590 | 165 | 186 | 176 | 130 | 153 | 128 | 209 | 142 |
| Other Income | 11 | 5 | 0 | 0 | 0 | 0 | 5 | 1 | 3 | 2 |
| Total Income | 404 | 595 | 165 | 186 | 176 | 130 | 158 | 129 | 212 | 143 |
| Total Expenditure | 344 | 510 | 150 | 163 | 156 | 116 | 147 | 117 | 197 | 126 |
| Operating Profit | 59 | 85 | 16 | 23 | 20 | 14 | 11 | 12 | 15 | 17 |
| Interest | 7 | 6 | 3 | 2 | 3 | 2 | 2 | 2 | 2 | 4 |
| Depreciation | 18 | 17 | 7 | 7 | 6 | 7 | 6 | 7 | 6 | 7 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 34 | 62 | 5 | 15 | 11 | 5 | 3 | 3 | 6 | 6 |
| Provision for Tax | 7 | 18 | -3 | 4 | 2 | 1 | 1 | 0 | 2 | 1 |
| Profit After Tax | 27 | 44 | 8 | 10 | 9 | 4 | 2 | 2 | 4 | 4 |
| Adjustments | -0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 |
| Profit After Adjustments | 27 | 44 | 8 | 10 | 9 | 4 | 2 | 2 | 4 | 4 |
| Adjusted Earnings Per Share | 2.2 | 3.7 | 0.7 | 0.9 | 0.6 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 936 | 972 | 1152 | 1261 | 1049 | 1399 | 653 | 632 |
| Other Income | 1 | 1 | 3 | 2 | 1 | 18 | 10 | 11 |
| Total Income | 937 | 973 | 1154 | 1263 | 1050 | 1417 | 663 | 642 |
| Total Expenditure | 775 | 798 | 1009 | 1089 | 931 | 1223 | 591 | 587 |
| Operating Profit | 162 | 174 | 146 | 173 | 119 | 194 | 71 | 55 |
| Interest | 26 | 25 | 34 | 46 | 41 | 23 | 10 | 10 |
| Depreciation | 29 | 32 | 35 | 63 | 67 | 58 | 26 | 26 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 107 | 118 | 76 | 64 | 12 | 113 | 36 | 18 |
| Provision for Tax | 35 | 39 | 27 | 17 | 4 | 26 | 10 | 4 |
| Profit After Tax | 72 | 78 | 49 | 48 | 8 | 86 | 26 | 12 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 72 | 78 | 49 | 48 | 8 | 86 | 26 | 12 |
| Adjusted Earnings Per Share | 6 | 6.5 | 4.1 | 4 | 0.7 | 7.2 | 1.9 | 1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -53% | -20% | -8% | 0% |
| Operating Profit CAGR | -63% | -26% | -16% | 0% |
| PAT CAGR | -70% | -18% | -20% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -27% | -2% | -3% | 5% |
| ROE Average | 5% | 7% | 8% | 11% |
| ROCE Average | 8% | 12% | 12% | 15% |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 502 | 572 | 612 | 628 | 638 | 508 | 533 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 15 | 16 | 22 | 18 | 4 | 4 | 2 |
| Other Non-Current Liabilities | 33 | 36 | 43 | 192 | 222 | 27 | 37 |
| Total Current Liabilities | 215 | 377 | 439 | 423 | 305 | 192 | 156 |
| Total Liabilities | 764 | 1002 | 1115 | 1260 | 1170 | 732 | 729 |
| Fixed Assets | 354 | 357 | 409 | 585 | 565 | 361 | 393 |
| Other Non-Current Assets | 9 | 36 | 20 | 27 | 26 | 17 | 16 |
| Total Current Assets | 402 | 609 | 686 | 648 | 579 | 354 | 320 |
| Total Assets | 764 | 1002 | 1115 | 1260 | 1170 | 732 | 729 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 11 | 7 | 13 | 7 | 16 | 16 | 55 |
| Cash Flow from Operating Activities | 114 | -24 | 35 | 228 | 238 | -4 | 47 |
| Cash Flow from Investing Activities | -36 | -59 | -67 | -63 | -41 | 55 | -53 |
| Cash Flow from Financing Activities | -82 | 89 | 26 | -157 | -201 | -12 | -32 |
| Net Cash Inflow / Outflow | -5 | 6 | -6 | 8 | -3 | 39 | -39 |
| Closing Cash & Cash Equivalent | 7 | 13 | 7 | 16 | 12 | 55 | 16 |
| # | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 5.96 | 6.52 | 4.06 | 3.97 | 0.69 | 7.19 | 1.91 |
| CEPS(Rs) | 8.38 | 9.15 | 7 | 9.24 | 6.23 | 11.98 | 3.76 |
| DPS(Rs) | 0.9 | 0.9 | 0.9 | 0.9 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 41.73 | 47.53 | 50.84 | 52.2 | 53.05 | 41.95 | 38.6 |
| Core EBITDA Margin(%) | 17.14 | 17.85 | 12.42 | 13.62 | 11.28 | 12.57 | 9.43 |
| EBIT Margin(%) | 14.14 | 14.66 | 9.58 | 8.72 | 5.05 | 9.71 | 7 |
| Pre Tax Margin(%) | 11.38 | 12.1 | 6.6 | 5.11 | 1.14 | 8.04 | 5.5 |
| PAT Margin (%) | 7.63 | 8.05 | 4.24 | 3.78 | 0.8 | 6.18 | 4.05 |
| Cash Profit Margin (%) | 10.73 | 11.29 | 7.32 | 8.81 | 7.14 | 10.3 | 7.97 |
| ROA(%) | 13.38 | 8.88 | 4.61 | 4.02 | 0.69 | 9.09 | 3.62 |
| ROE(%) | 22.63 | 14.61 | 8.25 | 7.7 | 1.32 | 15.13 | 5.09 |
| ROCE(%) | 29.43 | 18.87 | 12.1 | 11.68 | 6.25 | 20.36 | 8.18 |
| Receivable days | 19.05 | 37.44 | 45.67 | 42.86 | 38.31 | 18.04 | 40.63 |
| Inventory Days | 69.05 | 121.18 | 129.35 | 122.54 | 146.06 | 76.2 | 89.08 |
| Payable days | 25.25 | 53.79 | 51.15 | 50.19 | 67.75 | 51.76 | 105.49 |
| PER(x) | 14.45 | 19.22 | 13.49 | 9.24 | 65.77 | 22.4 | 18.3 |
| Price/Book(x) | 2.06 | 2.64 | 1.08 | 0.7 | 0.86 | 3.84 | 0.91 |
| Dividend Yield(%) | 1.04 | 0.72 | 1.65 | 2.46 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.27 | 1.83 | 0.87 | 0.57 | 0.64 | 1.38 | 0.76 |
| EV/Core EBITDA(x) | 7.32 | 10.19 | 6.91 | 4.11 | 5.66 | 9.98 | 6.93 |
| Net Sales Growth(%) | 196.47 | 3.89 | 18.48 | 9.51 | -16.83 | 33.39 | -53.33 |
| EBIT Growth(%) | 536.54 | 7.47 | -22.77 | -0.24 | -51.88 | 156.74 | -66.36 |
| PAT Growth(%) | 2114.91 | 9.31 | -37.78 | -2.21 | -82.44 | 931.62 | -69.43 |
| EPS Growth(%) | 1606.85 | 9.31 | -37.78 | -2.21 | -82.52 | 936.52 | -73.39 |
| Debt/Equity(x) | 0.31 | 0.5 | 0.58 | 0.46 | 0.22 | 0.1 | 0.05 |
| Current Ratio(x) | 1.87 | 1.61 | 1.56 | 1.53 | 1.9 | 1.84 | 2.04 |
| Quick Ratio(x) | 0.64 | 0.6 | 0.58 | 0.56 | 0.5 | 1.02 | 1.02 |
| Interest Cover(x) | 5.12 | 5.72 | 3.21 | 2.41 | 1.29 | 5.81 | 4.67 |
| Total Debt/Mcap(x) | 0.15 | 0.19 | 0.54 | 0.65 | 0.25 | 0.03 | 0.05 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 67.91 | 67.91 | 67.91 | 67.94 | 68.15 | 71.76 | 71.76 | 71.76 | 71.77 | 71.39 |
| FII | 2.82 | 3 | 3.42 | 3.46 | 3.06 | 1.53 | 2.37 | 1.35 | 0.45 | 0.31 |
| DII | 0.04 | 0.04 | 3.11 | 3.91 | 4.51 | 4.16 | 0.03 | 0.03 | 0.03 | 0.03 |
| Public | 29.23 | 29.05 | 25.56 | 24.69 | 24.28 | 22.55 | 25.83 | 26.85 | 27.75 | 28.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 8.17 | 8.17 | 8.17 | 8.17 | 8.2 | 9.92 | 9.92 | 9.92 | 9.92 | 9.87 |
| FII | 0.34 | 0.36 | 0.41 | 0.42 | 0.37 | 0.21 | 0.33 | 0.19 | 0.06 | 0.04 |
| DII | 0 | 0 | 0.37 | 0.47 | 0.54 | 0.58 | 0 | 0 | 0 | 0 |
| Public | 3.52 | 3.5 | 3.08 | 2.97 | 2.92 | 3.12 | 3.57 | 3.71 | 3.83 | 3.91 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 12.03 | 12.03 | 12.03 | 12.03 | 12.03 | 13.82 | 13.82 | 13.82 | 13.82 | 13.82 |
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