Mirza International

Mirza International Ltd.

NSE: MIRZAINT BSE: 526642 SECTOR: Footwear  69k   267   38

34.70
-217.75 (-86.25%)
NSE: 29 Mar 4:00 PM

Price Summary

Today's High

₹ 34.7

Today's Low

₹ 31.4

52 Week High

₹ 379.75

52 Week Low

₹ 31.35

FinStar

Ownership Stable
Ownership strength is slightly missing the benchmark.
ValuationExpensive
The stock is at a premium valuation at this point.
EfficiencyPoor
The company seems highly inefficient in case of asset management.
FinancialsVery Stable
The company possesses stable growth history and manageable debt.
*It is just an analytical rating of the company and not an investment advice.

Company Essentials

Market Cap

₹ 479.56 Cr.

Enterprise Value

₹ 542.45 Cr.

No. of Shares

13.82 Cr.

P/E

3.04

P/B

0.54

Face Value

₹ 2

Div. Yield

0 %

Book Value (TTM)

₹  64.53

CASH

₹ 14.86 Cr.

DEBT

₹ 77.75 Cr.

Promoter Holding

68.15 %

EPS (TTM)

₹  11.4

Sales Growth

59.68%

ROE

15.87 %

ROCE

21.92%

Profit Growth

1396.48 %

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* Total debt includes long term borrowing, short term borrowing plus current maturities of long-term borrowing
* Ratios are based on latest Audited Financial Result.

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Brands

These are the brands of Mirza International Ltd.

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Volume Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

* Prices are based on daily market changes.

PE Chart 1w 1m 3m 6m 1Yr 3Yr 5Yr

PB Chart 1w 1m 3m 6m 1Yr 3Yr 5Yr

* The chart is based on the standalone earnings of the company. * Negative values and values more than 1000x in PE chart is considered 0.

Peer Comparison

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* The Peers list includes companies operating in the same industry and having comparable market cap.

 Group Companies

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Ratios

Sales Growth

1 Year59.68%
3 Year13.22%
5 Year12.3%

Profit Growth

1 Year1396.48%
3 Year31.31%
5 Year9.01%

ROE%

1 Year15.87%
3 Year8.24%
5 Year9.51%

ROCE %

1 Year21.92%
3 Year13.22%
5 Year14.13%

Debt/Equity

0.103

Price to Cash Flow

2.56

Interest Cover Ratio

6.53817642698295

CFO/PAT (5 Yr. Avg.)

2.26014760147601

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Dec 2022 68.15 0
Sep 2022 67.94 0
Jun 2022 67.91 0
Mar 2022 67.91 0
Dec 2021 67.91 0
Investors List
* Figures given above are % of equity capital

 Strengths

  • The company has shown a good profit growth of 31.309112900024% for the Past 3 years.
  • The company has significantly decreased its debt by 61.81 Cr.
  • Company’s PEG ratio is 0.00217884865721787.
  • The company has an efficient Cash Conversion Cycle of 55.1091714093073 days.
  • Company has a healthy liquidity position with current ratio of 2.00989127346918.
  • The company has a good cash flow management; CFO/PAT stands at 2.26014760147601.
  • The company has a high promoter holding of 68.15%.

 Limitations

  • The company has shown a poor revenue growth of 13.2209170905526% for the Past 3 years.

Quarterly Result (All Figures in Cr.)

PARTICULARS Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
Net Sales 585.37 442.67 481.55 479.79 592.3
Total Expenditure 507.49 373.47 406.97 416.95 495.35
Operating Profit 77.88 69.2 74.58 62.84 96.95
Other Income 5.4 -11.41 2.06 3.04 1.26
Interest 6.48 6.67 5.31 6.29 6.44
Depreciation 17.25 10.15 17.48 16.3 16.61
Exceptional Items 0 0 0 0 0
Profit Before Tax 59.56 40.97 53.85 43.29 75.15
Tax 16.96 11.21 13.85 11.37 19.22
Profit After Tax 42.6 29.76 40 31.92 55.93
Adjusted EPS (Rs) 3.54 2.47 3.32 2.65 4.65

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Net Sales 972.09 1151.7 1260.18 1046.82 1671.55
Total Expenditure 798.09 1008.65 1088.51 930.33 1440.88
Operating Profit 174 143.05 171.67 116.49 230.67
Other Income 0.41 2.69 1.67 1.24 5.71
Interest 24.96 34.31 45.57 41 26.98
Depreciation 31.61 35.46 63.38 66.27 59.98
Exceptional Items 0 0 0 0 0
Profit Before Tax 117.84 75.97 64.39 10.46 149.42
Tax 39.42 27.19 16.73 3.08 38.98
Net Profit 78.42 48.78 47.66 7.38 110.44
Adjusted EPS (Rs.) 6.52 4.05 3.96 0.61 9.18

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Equity and Liabilities
Share Capital 24.06 24.06 24.06 24.06 24.06
Total Reserves 547.74 587.58 603.79 613.12 730.88
Borrowings 16.03 21.57 18 4.38 15.15
Other N/C liabilities 36.34 42.58 191.7 221.69 259.69
Current liabilities 377.34 439.25 422.56 304.02 387.21
Total Liabilities 1001.51 1115.04 1260.11 1167.27 1416.99
Assets
Net Block 356.98 408.53 584.94 563.15 591.75
Capital WIP 24.62 5.39 10.65 11.23 21.1
Intangible WIP 0 0 0 0 0
Investments 0.59 0.6 1.51 2.92 2.97
Loans & Advances 10.46 14.3 14.81 13 22.92
Other N/C Assets 0 0 0 0 0
Current Assets 608.86 686.22 648.2 576.97 778.25
Total Assets 1001.51 1115.04 1260.11 1167.27 1416.99
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Profit from operations 117.84 75.97 64.39 10.46 149.42
Adjustment 57.07 67.29 107.56 107.05 85.49
Changes in Assets & Liabilities -164.95 -79.23 75.39 117.45 -11.76
Tax Paid -33.79 -28.57 -19.51 -0.47 -35.6
Operating Cash Flow -23.83 35.46 227.83 234.49 187.55
Investing Cash Flow -59.33 -67.4 -62.89 -39.11 -80.49
Financing Cash Flow 89.47 26.34 -156.84 -200.65 -102.26
Net Cash Flow 6.31 -5.6 8.1 -5.27 4.8

Corporate Actions

Investors Details

PARTICULARS Dec 2021% Mar 2022% Jun 2022% Sep 2022% Dec 2022%
Promoters 67.91 67.91 67.91 67.94 68.15
tauseef ahmad mirza 14.59 14.59 13.27 13.27 13.17
shahid ahmad mirza 8.44 8.44 7.12 7.12 6.60
tasneef ahmad mirza 11.70 11.70 10.38 10.38 10.28
rashid ahmed mirza 11.36 11.36 9.92 9.92 9.40
rashid ahmad mirza - - - - -
yasmin mirza 4.57 4.57 9.39 9.39 9.39
shuja mirza 8.48 8.48 3.44 3.44 3.44
irshad mirza - - 5.65 5.65 5.65
faraz mirza 3.99 3.99 3.99 3.99 3.99
jamil ara begum - - - - 2.82
huma mirza - - 2.79 2.79 2.79
fauzia mirza 2.50 2.50 2.50 2.50 2.50
wasia urooj khan - - - - 0.80
iram mirza 0.80 0.80 0.78 0.78 0.78
maria khan - - - - 0.70
mustafa mirza - - 0.42 0.42 0.42
farzan mirza - - 0.42 0.42 0.42
master farzan mirza 0.42 0.42 - - -
master mustafa mir... 0.42 0.42 - - -
amaan mirza 0.37 0.37 0.37 0.37 0.37
ramsha rahman - 0.08 - - -
firdaus amin - 0.04 - - -
haya mirza 0.03 0.03 - - -
PARTICULARS Dec 2021% Mar 2022% Jun 2022% Sep 2022% Dec 2022%
Investors 32.09 32.09 32.09 32.06 31.85
lazard emerging ma... - - - - 2.47
l and t mutual fun... - - 2.37 2.35 -
lazard emerging ma... - - 1.56 2.35 -
l and t mutual tru... - - - - 2.07
wasia urooj khan - - 1.05 1.05 -
sabiha husain - - 1.09 1.09 -
maria khan - - - - -
sabiha hussain - - - - -
iepf 0.36 0.36 - - 0.24

Annual Reports

Ratings & Research Reports

Company Presentations

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Mirza International Stock Price Analysis and Quick Research Report. Is Mirza International an attractive stock to invest in?

The footwear sector is a very significant segment of the leather industry in India; rather it is the engine of growth for the entire Indian leather industry. India is the second-largest global producer of footwear after China, accounting for 13% of global footwear production of 16 billion pairs.

India produces 2065 million pairs of different categories of footwear (leather footwear - 909 million pairs, leather shoe uppers - 100 million pairs and non-leather footwear - 1056 million pairs). India exports about 115 million pairs. Thus, nearly 95% of its production goes to meet its own domestic demand. 

Revenue in the Footwear market amounts to US$8,493m in 2020. The market is expected to grow annually by 12.6% (CAGR 2020-2023).

Let's talk about the key financial ratios and stock performance of Mirza International over the period of time.

  • Operating profit margin: -  Incase of footwear exporters, the share of EBITDA constitutes not only operating income and also the share of government exporter incentives. OPM for Mirza International is 13.799766683617 % which is weak  which allows the investors to look into the overall return on capital.

  • Debtor days: -  The receivable days are fairly high in the case of footwear companies. The footwear exporters should always take care of the time taken by the buyers to complete their operating cycle. Mirza International has a debtor day of 25.6747928569292 which is significantly a good sign towards the cash conversion cycle.

  • Capital structure (or) Debt to Equity: -  The footwear sector is consistently increasing capacity, expanding retail presence and setting up new manufacturing facilities over the years. So it is important to check whether the leverage is highly dependent on debt or equity. Mirza International has a D/E ratio of 0.103 which is comfortably placed as compared to its peers.

  • Interest coverage ratio: -  It measures the company’s ability to handle its outstanding debt, a higher ratio is always desirable. Mirza International has an ICR of 6.53817642698295 which is unattractive to investors when compared with the company's growth.

Brief about Mirza International

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