Mirza International Ltd Stock Analysis

BSE: 526642 | NSE: MIRZAINT | Footwear | Small Cap

BSE Share Price 06-Feb-2023 18:01
233.60 -6.95 (-2.89%)

DeciZen - Make an Informed Decision on Mirza International

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Mirza International Price Chart

P/E Ratio ( SA) :
19.48
Market Cap :
2,810.4 Cr.
52-wk low :
127.1
52-wk high :
379.8
Bole Toh?

1. Is Mirza International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Mirza International Ltd is a average quality company.

2. Is Mirza International Ltd undervalued or overvalued?

The key valuation ratios of Mirza International Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Mirza International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Mirza International Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Mirza International:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Mirza International Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 16.6%14.9%15.5%17%13.7%12.8%7.9%8.5%4.3%16.1%-
Value Creation Index 0.20.10.10.2-0.0-0.1-0.4-0.4-0.70.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6437079189269369721,1521,2601,0471,6721,989
YoY Gr. Rt. %-9.9%29.9%0.8%1.1%3.9%18.5%9.4%-16.9%59.7%-
Adj EPS 4.755.67.266.6440.79.212
YoY Gr. Rt. %-4.9%13.7%28.1%-17.3%10.4%-38.9%-1.5%-83.3%1287.9%-
BVPS (₹) 27.130.933.740.941.747.550.852.25362.869.2
Adj Net Profit 43.745.952.278.171.779.248.447.78110144
Cash Flow from Ops. 89.448.497.390.3114-23.835.5228234188-
Debt/CF from Ops. 1.94.42.22.31.4-11.910.11.30.60.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.2%12.3%13.2%59.7%
Adj EPS 7.7%9%31.6%1287.9%
BVPS 9.88.57.318.5
Share Price 26% 11.4% 60.2% 62.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 19.117.117.420.615.114.78.27.71.315.818.2
Op. Profit Mgn % 1817.715.618.417.21812.413.611.213.814.3
Net Profit Mgn % 6.86.55.78.47.78.14.23.80.86.67.3
Debt to Equity 0.70.70.70.50.30.50.60.50.20.10
Working Cap Days 120132126146157189206194214149173
Cash Conv. Cycle 677065851061331461371488685

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 18.20%

Sales growth is growing at healthy rate in last 3 years 13.22%

Net Profit is growing at healthy rate in last 3 years 31.59%

Sales growth is good in last 4 quarters at 52.48%

No data to display

Latest Financials - Mirza International Ltd.

Standalone Consolidated
TTM EPS (₹) 12 12.3
TTM Sales (₹ Cr.) 1,989 2,000
BVPS (₹.) 69.2 69.7
Reserves (₹ Cr.) 808 814
P/BV 3.38 3.36
PE 19.48 19.03
From the Market
52 Week Low / High (₹) 127.10 / 379.75
All Time Low / High (₹) 2.35 / 379.75
Market Cap (₹ Cr.) 2,810
Equity (₹ Cr.) 24.1
Face Value (₹) 2
Industry PE 75.5

Management X-Ray of Mirza International :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Mirza International

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Mirza International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Mirza International on 06-Feb-2023 18:01 is : 233.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Feb-2023 18:01 the market cap of Mirza International stood at ₹ 2,810.4.
The latest PE ratio of Mirza International as of 06-Feb-2023 18:01 is 19.48.
The latest PB ratio of Mirza International as of 06-Feb-2023 18:01 is 3.38
The 52-week high of Mirza International is ₹ 379.8 and the 52-week low is ₹ 127.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Mirza International is ₹ 1,989 ( Cr.) .

About Mirza International Ltd

Mirza International Limited was incorporated on September 5, 1979 with a small tannery for manufacturing finished leather at Magarwara near Kanpur. The company, established by Irshad Mirza and Rashid Mirza, was then called ‘Mirza Tanners Private Limited’.

The company focused on supplying high quality leather and leather products to the overseas markets and gradually became one of the largest exporters of finished leather in the country.

During this phase, Mirza took a significant leap, by venturing into newer areas which were extensions of its existing competencies. The global shoe market was then looking upon outsourcing of leather footwear in a big way. To take advantage of this opportunity, Mirza diversified into manufacturing of shoes. Very swiftly, four state-of-the-art manufacturing units were setup at Unnao and Noida.

Having gained a foothold in the footwear business, Mirza quickly reorganized itself by setting up in-house design and development studios, marketing offices and a strong distribution and logistics network. After successfully reorganizing itself, Mirza moved a step ahead of others by launching its own brands ‘Red Tape’ and ‘Oaktrak’.

Having firmly established its product line and market geographies, the company spread its wings to several other countries through its marketing companies and networking associates. Some of countries where Mirza has a significant presence are UK, Portugal, South Africa, USA, Germany, France, Scandinavian countries and UAE. 80% of company’s sales being contributed by overseas sales to 24 countries.

Today, the company has emerged as a frontrunner in the manufacturing and marketing of leather and leather footwear. The company is listed on the NSE, BSE and UP Stock exchanges and is ISO 9001, 9002 and 14000 certified.

The company has four fully integrated in-house shoe production facilities with an installed production capacity of 3.35 mn pairs of shoes per annum. The manufacturing plants are located at Magarwara and Sahjani in Unnao, and in Noida. The tannery is located at Magarwara in Unnao. These facilities are backed by a state-of-the-art double density direct injection polyurethane plant, a tannery with a capacity of 20 million sq ft per annum & its own effluent treatment plant and 25 dedicated ancillary units. Shoes are produced at these facilities using latest methods like Stuck on, Double Density Direct Injection & Moccassins

The company sources its cowhides from Europe and manufactures leather in stringent adherence to international norms, ensuring that no banned chemicals are used in the production process.

In addition to direct sales to leading global footwear retailers, the company also has a strong presence in the branded segment through three brands: Red Tape, Oak Trak, Red Tape Gal.

Mirza International Limited’s focus on design is a key differentiator for its shoes. The company invests considerable resources on research and development on an ongoing basis, in order to introduce new designs, styles and product lines into the market.

Product range of the company include:

Red Tape- The flagship brand of Mirza International Limited, was launched in the year 1996. The brand has today become synonymous with hi-fashion & lifestyle, owing to its unmatched quality, skilled craftsmanship and trendy products. Endorsed by the style icon Salman Khan, Red Tape has become India’s most loved premium lifestyle brand.

Red Tape Gal- It is a stylish footwear range for women that bring in a fresh, energetic and youthful appeal through its trendy designs. Introduced in March 2007, the brand is Mirza International Limited’s first step towards tapping the immense opportunity available in the women footwear segment. The range is available in a variety of styles and shapes and has already become a preferred brand of the Indian women. It is endorsed by the critically acclaimed actress Kangana Ranaut.

Oaktrak- It is a niche brand of formal footwear, designed exclusively for the upwardly mobile executives and businessmen. The range is both casual and urban, with the emphasis on comfort with style. Oaktrak is sold through independents, small retailers and multiples.  Primary markets for the brand are UK and South Africa

Subsidiary

MTL Trading (Pty) Ltd., South Africa is the only subsidiary of the company.

Awards/Achievements

  • 2009 - Award for Oustanding Export Performance From Government of U.P.
  • 2007: Shopper’s Stop Pinnacle Awarded by best brand- footwear
  • 2007: BVMSR-III Consumer Award in fashion and specialty shoes.
  • 2007: Export award for overall Export & Plaque (first prize) for footwear export by council of Leather Exports.
  • 2006: Dun & Bradstreet American Express Corporate Award
  • 2005: Excellence Award for Innovative Export Marketing by Merchant’s Chamber U.P.
  • 2004: Certificate of merit by National Praductivity Council
  • 2004: IFCOMA Excellence Award for greatest contribution towards Indian Footwear Industry.
  • 1999: Samman/Award by Central Excise & Customs, Govt. of India
  • 1998: Best export performance in Finished Leather by council of leather export
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