Mirza International Limited MIRZAINT NSE

Consumer Cyclical · Footwear & Accessories · India

https://www.mirza.co.in

Mirza International Limited manufactures, sells, and exports finished leather and leather footwear products in India, the United Kingdom, the United States, and internationally. It operates through the Footwear and Tannery segments. The company offers casual and formal shoes, as well as handcrafted leather shoes and boots for men, women, boys, girls, and kids; and engages in processing and sale of finished leather and related products. It offers its products under the Thomas Crick, Off The Hook London, and Oaktrak brands. The company sells its products to professionals and mobile executives through outlets, third-party stores, and online platforms. The company was formerly known as Mirza Tanners Ltd. and changed its name to Mirza International Limited in August 2005. Mirza International Limited was incorporated in 1979 and is headquartered in Noida, India.

Market & Price

Market Cap

₹445.98 Cr

Current Price

₹32.27

High / Low (52W)

₹42.54 / ₹25.05

Beta

-0.15

Valuation

Stock P/E

52.05

Industry PE

26.67

Forward P/E

5.56

PEG Ratio

Book Value

₹42.95

Price to Book

0.75

P/S

0.82

EV/EBITDA

15.65

Dividend Yield

Profitability & Returns

ROCE

1.17%

ROE

ROA

Profit Margin

1.55%

Op Margin

-7.59%

EPS (Latest Qtr)

₹-0.53

EPS (TTM)

₹0.62

Balance Sheet & Liquidity

Debt/Equity

4.96

Quick Ratio

Current Ratio

Debt

₹28.58 Cr

Total Assets

₹734.28 Cr

Current Assets

₹304.79 Cr

Working Capital

₹172.03 Cr

Ownership

Promoter Holding

73.47%

Chg in Prom Hold

FII / Inst Holding

0.03%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹461.45 Cr

Total Revenue (TTM)

₹546.62 Cr

EBITDA

₹29.49 Cr

Free Cash Flow

Operating Cash Flow

Shares Outstanding

₹13.82 Cr

Gross Margin

39.71%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-26.30%

Profit 5Y

-34.61%

Revenue (YoY)

3.30%

Earnings (YoY)

PROS

No notable strengths flagged.

CONS

Trading at a high P/E of 52.0.
Revenue declined at -26.3% CAGR over 5 years.
Earnings shrank at -34.6% CAGR over 5 years.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Cyclical).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	MIRZAINT Mirza International Limited NSE	32.27	52.05	₹445.98 Cr	-	1.17%	-	-26.30%	-34.61%
2	MARUTI Maruti Suzuki India Limited NIFTY50NSEAI	13,127.00	28.09	₹4.13 L Cr	1.07%	17.22%	14.43%	16.60%	21.11%
3	M&M Mahindra & Mahindra Limited NIFTY50NSEAI	3,045.60	20.00	₹3.66 L Cr	1.08%	17.26%	18.75%	18.44%	18.48%
4	TITAN Titan Company Limited NIFTY50NSE	4,074.90	71.43	₹3.61 L Cr	0.27%	38.43%	37.13%	23.83%	16.00%
5	ETERNAL Eternal Limited NSEAITECH	250.58	626.45	₹2.30 L Cr	-	2.87%	1.19%	97.70%	45.90%
6	EICHERMOT Eicher Motors Limited NIFTY50NSEAI	7,177.00	35.71	₹1.97 L Cr	0.98%	26.43%	23.77%	17.47%	23.70%
7	TVSMOTOR TVS Motor Company Limited NSE	3,355.70	52.91	₹1.59 L Cr	0.36%	28.86%	31.62%	26.91%	31.46%
8	HYUNDAI HYUNDAI MOTOR INDIA LTD NSE	1,924.00	28.82	₹1.56 L Cr	1.09%	32.62%	29.92%	5.50%	4.87%
9	MOTHERSON Samvardhana Motherson International Limited NSEAI	145.74	39.82	₹1.53 L Cr	0.41%	11.82%	10.11%	17.10%	37.17%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	114.38 Cr	88.66 Cr	142.11 Cr	164.36 Cr	118.21 Cr
Cost of Revenue	-	62.54 Cr	75.90 Cr	77.63 Cr	100.94 Cr	75.05 Cr
Gross Profit	-	51.84 Cr	12.76 Cr	64.47 Cr	63.41 Cr	43.15 Cr
Operating Expenses	-	56.49 Cr	13.16 Cr	59.76 Cr	58.64 Cr	52.12 Cr
Operating Income	-	-4.65 Cr	-40.71 L	4.72 Cr	4.77 Cr	-8.97 Cr
EBITDA	-	3.66 Cr	6.08 Cr	31.78 Cr	13.26 Cr	-37.51 L
Interest Expense	-	3.73 Cr	2.65 Cr	2.29 Cr	2.27 Cr	1.89 Cr
Pretax Income	-	-7.83 Cr	-4.14 Cr	21.51 Cr	3.08 Cr	-9.93 Cr
Tax Provision	-	-2.15 Cr	1.60 L	3.70 Cr	92.92 L	-2.62 Cr
Net Income	-	-5.69 Cr	-4.15 Cr	17.81 Cr	2.15 Cr	-7.31 Cr
Diluted EPS	0.43	-0.41	-	1.29	0.16	-0.53

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	1,368.75 Cr	602.35 Cr	598.01 Cr	547.94 Cr
Cost of Revenue	819.26 Cr	378.22 Cr	378.41 Cr	343.15 Cr
Gross Profit	549.49 Cr	224.13 Cr	219.60 Cr	204.79 Cr
Operating Expenses	431.16 Cr	186.64 Cr	194.38 Cr	197.71 Cr
Operating Income	118.33 Cr	37.49 Cr	25.22 Cr	7.08 Cr
EBITDA	193.63 Cr	71.34 Cr	56.73 Cr	37.67 Cr
Interest Expense	23.41 Cr	9.79 Cr	11.80 Cr	10.61 Cr
Pretax Income	112.51 Cr	35.95 Cr	16.60 Cr	-3.55 Cr
Tax Provision	26.06 Cr	9.51 Cr	4.53 Cr	-25.00 L
Net Income	86.45 Cr	26.44 Cr	12.07 Cr	-3.30 Cr
Diluted EPS	7.19	1.91	0.87	-0.24

Compounded Sales Growth

5 Years:	-26.30%
1 Year:	3.30%

Compounded Profit Growth

5 Years:	-34.61%
1 Year:	-

Stock Price Performance

1 Year:	+2.44%
6 Months:	-19.35%
3 Months:	-8.12%
1 Month:	-3.41%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	731.64 Cr	729.20 Cr	719.02 Cr	734.28 Cr
Current Assets	353.78 Cr	319.53 Cr	305.41 Cr	304.79 Cr
Cash & Equivalents	52.96 Cr	14.96 Cr	17.42 Cr	16.55 Cr
Inventory	157.97 Cr	160.76 Cr	154.45 Cr	161.20 Cr
Receivables	58.63 Cr	86.75 Cr	79.12 Cr	66.79 Cr
Total Liabilities	223.39 Cr	195.81 Cr	166.38 Cr	169.92 Cr
Current Liabilities	192.46 Cr	141.77 Cr	130.15 Cr	132.76 Cr
Long Term Debt	3.66 Cr	17.05 Cr	46.00 L	0
Total Debt	49.45 Cr	54.26 Cr	42.09 Cr	53.78 Cr
Total Equity	504.67 Cr	533.39 Cr	552.64 Cr	564.36 Cr
Shares Outstanding	12.03 Cr	13.82 Cr	13.82 Cr	13.82 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	-3.64 Cr	47.34 Cr	50.21 Cr	28.24 Cr
Investing Cash Flow	54.90 Cr	-53.48 Cr	-25.10 Cr	-28.87 Cr
Financing Cash Flow	-12.14 Cr	-32.80 Cr	-21.67 Cr	1.26 Cr
Capital Expenditure	-85.17 Cr	-53.96 Cr	-36.87 Cr	-46.59 Cr
Free Cash Flow	-3.64 Cr	-6.62 Cr	13.34 Cr	-18.35 Cr
Net Change in Cash	39.12 Cr	-38.94 Cr	3.44 Cr	63.00 L

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	40.1%	37.2%	36.7%	37.4%
Operating Margin %	8.6%	6.2%	4.2%	1.3%
Net Margin %	6.3%	4.4%	2.0%	-0.6%
ROE %	17.1%	5.0%	2.2%	-0.6%
ROCE %	21.9%	6.4%	4.3%	1.2%

Shareholding Pattern

Insiders

73.47%

Institutions

0.03%

Public Float

0.11%

Analyst View

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MIRZAINT · Consumer Cyclical