MIRZAINT

Mirza International Limited

Footwear and leather products under RedTape and Thomas Crick brands

Consumer Discretionary›Consumer Durables›Consumer Durables›Leather And Leather Products

mirza.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹28.06
Market cap
388 Cr
Stock P/E
Loss (TTM EPS ₹-1.62)
P/B
0.69
Dividend yield
0.0%
ROE (FY26)
-0.1%
ROCE (FY26)
1.3%
Operating margin (FY26)
-2.5%
Debt / equity (FY26)
0.03
OCF / EBITDA (FY26)
245.1%
OCF / EBITDA (3Y)
118.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Mirza International makes footwear and leather in India and sells it under its own brands in India and overseas.

Company snapshot

4thBy market cap

Ranked among 7 companies in Leather And Leather Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 91.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Footwear- Domestic & Export
91.6%
105 Cr4 Cr534 Cr
Tannery- Domestic & Export
13.8%
16 Cr-7 Cr155 Cr
Unallocated
0.4%
0.51 Cr0.51 Cr37 Cr

Shares add up to 106% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓119% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
3 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales209 Cr142 Cr152 Cr144 Cr201 Cr114 Cr122 Cr142 Cr164 Cr118 Cr103 Cr128 Cr
Operating expenses (approx.)197 Cr126 Cr140 Cr133 Cr185 Cr111 Cr116 Cr129 Cr152 Cr120 Cr109 Cr125 Cr
EBITDA12 Cr15 Cr12 Cr11 Cr17 Cr3 Cr6 Cr13 Cr13 Cr-1 Cr-7 Cr3 Cr
OPM %5.8%10.9%7.9%7.3%8.4%2.7%4.6%8.9%7.7%-1.1%-6.6%2.4%
Other income3 Cr2 Cr0.56 Cr0.21 Cr0.31 Cr0.54 Cr0.46 Cr0.47 Cr0.58 Cr0.93 Cr0.89 Cr0.63 Cr
Interest2 Cr4 Cr3 Cr2 Cr3 Cr4 Cr3 Cr2 Cr2 Cr2 Cr1 Cr0.83 Cr
Depreciation6 Cr7 Cr8 Cr8 Cr7 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr7 Cr
Profit before tax6 Cr6 Cr1 Cr1 Cr7 Cr-8 Cr-4 Cr22 Cr3 Cr-10 Cr-15 Cr-4 Cr
Tax %38.0%25.0%15.6%41.8%19.4%27.4%-6.3%17.2%30.2%26.4%10.2%8.3%
Net profit4 Cr4 Cr1 Cr0.64 Cr6 Cr-6 Cr-4 Cr18 Cr2 Cr-7 Cr-13 Cr-4 Cr
EPS (₹)₹0.29₹0.32₹0.09₹0.05₹0.43₹-0.41₹-0.32₹1.29₹0.16₹-0.53₹-0.96₹-0.29

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales936 Cr972 Cr1,152 Cr1,261 Cr1,049 Cr1,679 Cr653 Cr630 Cr581 Cr527 CrSign in free for the trailing twelve months
Operating expenses (approx.)775 Cr798 Cr1,008 Cr1,089 Cr931 Cr1,444 Cr587 Cr582 Cr545 Cr509 CrSign in free for the trailing twelve months
EBITDA161 Cr174 Cr144 Cr172 Cr118 Cr235 Cr66 Cr49 Cr36 Cr18 CrSign in free for the trailing twelve months
OPM %17.2%17.9%12.5%13.6%11.3%14.0%10.2%7.7%6.2%3.4%Sign in free for the trailing twelve months
Other income0.83 Cr0.41 Cr2 Cr2 Cr1 Cr6 Cr5 Cr8 Cr2 Cr2 CrSign in free for the trailing twelve months
Interest26 Cr25 Cr34 Cr46 Cr41 Cr27 Cr10 Cr12 Cr11 Cr8 CrSign in free for the trailing twelve months
Depreciation29 Cr32 Cr35 Cr63 Cr67 Cr60 Cr26 Cr28 Cr31 Cr31 CrSign in free for the trailing twelve months
Profit before tax107 Cr118 Cr76 Cr64 Cr12 Cr153 Cr36 Cr17 Cr-4 Cr-0.07 CrSign in free for the trailing twelve months
Tax %32.9%33.5%35.8%26.0%29.9%26.4%26.4%27.5%0.2%-764.8%Sign in free for the trailing twelve months
Net profit72 Cr78 Cr49 Cr48 Cr8 Cr113 Cr26 Cr12 Cr-4 Cr-0.57 CrSign in free for the trailing twelve months
EPS (₹)₹5.96₹6.52₹4.06₹3.97₹0.61₹9.38₹1.91₹0.87₹-0.26₹-0.04Sign in free for the trailing twelve months
Dividend payout %————-0.3%0.1%0.2%0.5%——Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital24 Cr24 Cr24 Cr24 Cr24 Cr24 Cr28 Cr28 Cr28 Cr28 Cr
Reserves478 Cr548 Cr588 Cr604 Cr614 Cr735 Cr506 Cr525 Cr537 Cr535 Cr
Borrowings142 Cr270 Cr338 Cr270 Cr125 Cr78 Cr26 Cr35 Cr48 Cr15 Cr
Other liabilities120 Cr158 Cr165 Cr362 Cr407 Cr585 Cr200 Cr131 Cr122 Cr114 Cr
Total liabilities764 Cr999 Cr1,115 Cr1,260 Cr1,170 Cr1,423 Cr760 Cr719 Cr734 Cr692 Cr
Fixed assets (net)352 Cr357 Cr409 Cr428 Cr427 Cr456 Cr361 Cr357 Cr381 Cr356 Cr
CWIP2 Cr25 Cr5 Cr11 Cr11 Cr21 Cr1 Cr11 Cr3 Cr5 Cr
Investments0.58 Cr0.58 Cr0.58 Cr1 Cr2 Cr2 Cr12 Cr8 Cr9 Cr9 Cr
Loans & advances——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr2 Cr
Inventories264 Cr383 Cr434 Cr413 Cr426 Cr526 Cr161 Cr154 Cr161 Cr144 Cr
Trade receivables67 Cr133 Cr156 Cr141 Cr80 Cr155 Cr117 Cr79 Cr67 Cr69 Cr
Cash & bank7 Cr13 Cr7 Cr16 Cr12 Cr22 Cr16 Cr19 Cr20 Cr32 Cr
Other assets72 Cr89 Cr104 Cr251 Cr212 Cr240 Cr91 Cr90 Cr95 Cr75 Cr
Total assets764 Cr999 Cr1,115 Cr1,260 Cr1,170 Cr1,423 Cr760 Cr719 Cr734 Cr692 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity114 Cr-24 Cr35 Cr228 Cr238 Cr193 Cr47 Cr50 Cr28 Cr44 Cr
Cash from investing-36 Cr-59 Cr-67 Cr-63 Cr-41 Cr-81 Cr-53 Cr-29 Cr-29 Cr10 Cr
Cash from financing-82 Cr89 Cr26 Cr-157 Cr-201 Cr-102 Cr-32 Cr-17 Cr1 Cr-41 Cr
Net cash flow-5 Cr6 Cr-6 Cr8 Cr-3 Cr10 Cr-39 Cr3 Cr0.63 Cr13 Cr
Free cash flow (OCF − Capex)80 Cr-85 Cr-36 Cr158 Cr189 Cr108 Cr-3 Cr16 Cr-18 Cr27 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.6%17.0%11.6%12.3%6.9%21.5%8.2%4.8%1.2%1.3%
ROE %14.3%13.7%8.0%7.6%1.3%14.9%5.0%2.2%-0.6%-0.1%
Debtor days26504941283465464248
Inventory days298449515475858650223210231228
Days payable45100971102213131311049897
Cash conversion cycle280398468406665371157153174179
OCF / EBITDA %70.5%-13.7%24.7%132.7%201.1%82.0%70.8%102.0%78.2%245.1%
OCF / EBITDA % (3 years)——26.2%48.9%115.6%125.4%113.8%82.6%82.6%118.6%
Debt / equity0.280.470.550.430.200.100.050.060.080.03
Current ratio1.871.621.561.531.922.021.872.352.303.81
Net debt / EBITDA0.84—2.301.480.960.240.160.330.77-0.98