Mirza International Ltd
NSE: MIRZAINT BSE: 526642
Incorporated in 1979, Mirza International Ltd is a manufacturer & exporter of finished leather, Footwear and trader of footwear and apparels and allied products[1]
₹29.5
52W: ₹24.8 — ₹44
PE 0 · Book ₹34.8 · -15% vs bookMarket Cap₹408 Cr
Stock P/E—Price to Earnings
ROCE0.64%Return on Capital
ROE1.08%Return on Equity
Div. Yield0%Face Value ₹2
Strengths
- +Company is almost debt free.
- +Stock is trading at 0.87 times its book value
Weaknesses
- −Company has low interest coverage ratio.
- −The company has delivered a poor sales growth of -14.7% over past five years.
- −Company has a low return on equity of 2.33% over last 3 years.
- −Contingent liabilities of Rs.197 Cr.
- −Earnings include an other income of Rs.20.1 Cr.
- −Company's cost of borrowing seems high
Shareholding Pattern
Promoters72.99%
FIIs0.17%
DIIs0.01%
Public26.82%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 71.27% | 71.27% | 71.27% | 71.27% | 71.27% | 71.37%▲0.1 | 72.99%▲1.6 | 72.99% |
| FIIs | 0.34% | 0.3%▼0.0 | 0.17%▼0.1 | 0.14%▼0.0 | 0.14% | 0.14% | 0.25%▲0.1 | 0.17%▼0.1 |
| DIIs | 0% | 0% | 0.01%▲0.0 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 28.38% | 28.44%▲0.1 | 28.55%▲0.1 | 28.57%▲0.0 | 28.58%▲0.0 | 28.46%▼0.1 | 26.75%▼1.7 | 26.82%▲0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 198.74 | 137.25 | 142.54 | 137.12 | 197.84 | 114.16 | 120.47 | 141.42 | 169.56 | 107.27 |
| Expenses | 184.23 | 123.24 | 132.51 | 126.5 | 183.9 | 113.38 | 111.77 | 128.95 | 155 | 109.1 |
| Operating Profit | 14.51 | 14.01 | 10.03 | 10.62 | 13.94 | 0.78 | 8.7 | 12.47 | 14.56 | -1.83 |
| OPM % | 7.3% | 10.21% | 7.04% | 7.75% | 7.05% | 0.68% | 7.22% | 8.82% | 8.59% | -1.71% |
| Net Profit | 6.05 | 4.87 | 0.68 | 1.36 | 3.12 | -7.37 | -0.5 | 17.67 | 3.99 | -7.83 |
| EPS ₹ | 0.44 | 0.35 | 0.05 | 0.1 | 0.23 | -0.53 | -0.04 | 1.28 | 0.29 | -0.57 |
AI Insights
Revenue Trend
TTM revenue at ₹539Cr, down 5.4% YoY. OPM at 6%.
Debt Position
Borrowings at ₹18Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.
Capex Cycle
CWIP at ₹2Cr (1% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 0.01% (+0.01pp change). FIIs: 0.17% (-2.23pp change). Promoters hold 72.99%.
Margin & Efficiency
ROCE declining from 23% (Mar 2014) to 1% (Mar 2025). Working capital days: 93.
Recent Announcements
- Compliances-Reg.24(A)-Annual Secretarial Compliance 30 Apr - Mirza International filed secretarial compliance report for FY ended March 31, 2026, with no non-compliances.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 28 Apr - Mirza International disclosed nil borrowings and confirmed it is not a Large Corporate for FY2026.
- Announcement under Regulation 30 (LODR)-Cessation 27 Apr - CFO V.T. Cherian resigned effective close of business hours on May 31, 2026.
- Announcement under Regulation 30 (LODR)-Scheme of Arrangement 25 Apr - NCLT approved amalgamation of RTS Fashion with Mirza International, effective 1 April 2025.
- Board Meeting Outcome for Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 25 Apr - Board approved in-principle restructuring on April 25, 2026 to segregate manufacturing, retail/e-commerce, and leather operations.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse