Mirza International Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Shoe Division: 77.2% • Tannery Division: 19.3% • Unallocated: 3.4%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 9.68x)
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 165.8% versus prior year
- A large part of profit comes from other income (36.5% of PBT)
- Company has a low return on capital employed of 2.7%
- Company has a low return on equity of 0.8% over last 3 years
- Interest coverage is weak at 1.4x - earnings barely cover interest
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BATAINDIA | 660.95 | 58.11 | 8495.03 | 1.36 | 63.98 | 23.05 | 978.95 | 3.94 | 20.77 | 20.84 |
| RELAXO | 326.55 | 43.87 | 8129.09 | 1.07 | 54.94 | 12.35 | 705.05 | 7.73 | 12.34 | 15.35 |
| CAMPUS | 214.75 | 60.48 | 6564.47 | 0.70 | 28.66 | — | 337.71 | — | 26.65 | 18.27 |
| MIRZAINT | 31.25 | 0.00 | 431.88 | 0.00 | -4.07 | -122.85 | 128.40 | -9.65 | 1.29 | 2.37 |
| LIBERTSHOE | 233.10 | 62.16 | 397.20 | 0.00 | 0.68 | -79.46 | 169.86 | -1.70 | 11.81 | 7.95 |
| SUPERHOUSE | 180.00 | 25.43 | 198.45 | 0.44 | 3.56 | 213.28 | 162.87 | 4.07 | 4.30 | 6.58 |
| KSR | 39.27 | 0.00 | 72.17 | 0.00 | 0.32 | 106.56 | 52.25 | 0.36 | -13.35 | 5.86 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 124 | 199 | 137 | 143 | 137 | 198 | 114 | 120 | 141 | 170 | 107 | 98 | 124 | |
| 116 | 184 | 123 | 133 | 126 | 184 | 113 | 112 | 129 | 155 | 109 | 103 | 129 | |
| Operating Profit | 8 | 15 | 14 | 10 | 11 | 14 | 1 | 9 | 12 | 15 | -2 | -5 | -5 |
| OPM % | 6.55% | 7.31% | 10.21% | 7.04% | 7.75% | 7.04% | 0.68% | 7.23% | 8.82% | 8.59% | -1.71% | -5.36% | -4.35% |
| 3 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 19 | 0 | 0 | 1 | 0 | |
| Interest | 2 | 2 | 2 | 2 | 1 | 3 | 3 | 2 | 2 | 2 | 1 | 1 | 1 |
| Depreciation | 7 | 6 | 7 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 7 |
| Profit before Tax | 2 | 9 | 6 | 1 | 2 | 4 | -10 | -1 | 21 | 5 | -10 | -13 | -5 |
| Tax % | 10.66% | 30.14% | 23.10% | 39.29% | 29.49% | 34.59% | 22.93% | 49.00% | 17.31% | 18.90% | 25.14% | 11.37% | 7.58% |
| Net Profit | 2 | 6 | 5 | 1 | 1 | 3 | -7 | -0 | 18 | 4 | -8 | -12 | -5 |
| 0.16 | 0.44 | 0.35 | 0.05 | 0.08 | 0.20 | -0.53 | -0.04 | 1.28 | 0.29 | -0.57 | -0.85 | -0.33 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 936 | 972 | 1,152 | 1,260 | 1,047 | 1,386 | 627 | 603 | 570 | 516 | 498 | |
| 775 | 798 | 1,009 | 1,089 | 930 | 1,209 | 568 | 556 | 537 | 496 | 496 | |
| Operating Profit | 161 | 174 | 143 | 172 | 116 | 177 | 59 | 47 | 33 | 21 | 2 |
| OPM % | 17.21% | 17.90% | 12.42% | 13.62% | 11.13% | 12.74% | 9.36% | 7.74% | 5.78% | 4.01% | 0.43% |
| 1 | 0 | 3 | 2 | 1 | 18 | 8 | 7 | 2 | 20 | 2 | |
| Interest | 26 | 25 | 34 | 46 | 41 | 23 | 8 | 7 | 9 | 7 | 5 |
| Depreciation | 29 | 32 | 35 | 63 | 66 | 58 | 25 | 28 | 30 | 31 | 30 |
| Profit before Tax | 107 | 118 | 76 | 64 | 10 | 114 | 34 | 18 | -5 | 3 | -24 |
| Tax % | 32.92% | 33.45% | 35.79% | 25.98% | 29.45% | 24.82% | 23.21% | 26.14% | 15.79% | 19.01% | 15.12% |
| Net Profit | 72 | 78 | 49 | 48 | 7 | 86 | 26 | 13 | -4 | 2 | -20 |
| EPS | 5.96 | 6.52 | 4.05 | 3.96 | 0.61 | 7.11 | 1.90 | 0.97 | -0.29 | 0.15 | — |
| Dividend Payout % | 15.09% | 13.81% | 22.20% | 22.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -6%
- 5 Years:
- -13%
- 3 Years:
- -6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -30%
- 5 Years:
- -22%
- 3 Years:
- -57%
STOCK PRICE CAGR
- 10 Years:
- -10%
- 5 Years:
- -12%
- 3 Years:
- -12%
- 1 Year:
- -9%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 5%
- 3 Years:
- 1%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 28 | 28 | 28 | 28 |
| 478 | 548 | 588 | 604 | 613 | 406 | 428 | 442 | 436 | 442 | |
| 162 | 290 | 367 | 448 | 333 | 49 | 35 | 24 | 47 | 6 | |
| Trade Payables | 40 | 85 | 81 | 95 | 109 | 92 | 61 | 60 | 43 | 45 |
| 61 | 54 | 55 | 89 | 88 | 46 | 42 | 44 | 39 | 36 | |
| Total Liabilities | 764 | 1,002 | 1,115 | 1,260 | 1,167 | 617 | 593 | 598 | 592 | 556 |
| 349 | 357 | 409 | 585 | 563 | 289 | 314 | 313 | 324 | 299 | |
| Capital Work in Progress | 2 | 25 | 5 | 11 | 11 | 4 | 1 | 11 | 2 | 5 |
| 4 | 1 | 1 | 2 | 3 | 10 | 15 | 11 | 11 | 10 | |
| 264 | 383 | 434 | 413 | 426 | 129 | 125 | 132 | 133 | 109 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 81 | 60 | 61 | |
| Cash & Bank | 7 | 13 | 7 | 15 | 10 | 7 | 6 | 4 | 6 | 27 |
| 139 | 224 | 260 | 234 | 154 | 179 | 132 | 47 | 56 | 46 | |
| Total Assets | 764 | 1,002 | 1,115 | 1,260 | 1,167 | 617 | 593 | 598 | 592 | 556 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 147 | 10 | 64 | 247 | 235 | 369 | 81 | 41 | 21 | 49 | |
| Cash from Investing | -36 | -59 | -67 | -63 | -39 | -231 | -39 | -29 | -33 | 21 |
| Cash from Financing | -82 | 89 | 26 | -157 | -201 | -113 | -31 | -14 | 13 | -50 |
| -5 | 6 | -6 | 8 | -5 | -3 | -1 | -2 | 2 | 21 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-07 - Mirza International Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-06 - Mirza International Limited has informed the Exchange about change in Management
2026-08-06 - Mirza International Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-03 - Mirza International Limited has informed the Exchange about change in Management
2026-08-03 - Mirza International Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 01, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-01 - Mirza International Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 01, 2026
2026-07-15 - Mirza International Limited has informed the Exchange about Credit Rating- Revision
2026-07-13 - Mirza International Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-11 - Mirza International Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for MIRZAINT
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