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Mirza International Limited
(MIRZAINT)
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Rating:49Neutral
Price Target:
₹35.00
▼(-6.02% Downside)
Action:Reiterated
Date:06/01/26
The score is held back primarily by deteriorated profitability and contracting revenue, with a high P/E reinforcing downside risk if margins don’t recover. Support comes from a low-leverage balance sheet and improved recent free cash flow, while technicals are mixed with negative MACD but modestly constructive near-term positioning versus the 20D/50D averages.
Positive Factors
Low leverage / conservative balance sheet
Very low leverage provides durable financial flexibility: the balance sheet can absorb shocks, fund working capital or modest capex without heavy refinancing, and supports survival during margin recovery periods, helping sustain operations over the next several quarters.
Negative Factors
Multi-year revenue decline
Sustained revenue shrinkage erodes scale and pricing leverage, making fixed-cost absorption and margin recovery harder. Continued top-line declines reduce predictability of cash flows and strain returns, increasing execution risk around any turnaround efforts over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
Very low leverage provides durable financial flexibility: the balance sheet can absorb shocks, fund working capital or modest capex without heavy refinancing, and supports survival during margin recovery periods, helping sustain operations over the next several quarters.
Read all positive factors
Mirza International Limited (MIRZAINT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.90B
Dividend YieldN/A
Average Volume (3M)74.57K
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth-9.29%
EPS Growth82.53%
CountryIN
Employees1,662
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)0.72
Shares Outstanding138,201,900
10 Day Avg. Volume39,630
30 Day Avg. Volume74,567
Financial Highlights & Ratios
PEG Ratio7.40
Price to Book (P/B)0.64
Price to Sales (P/S)0.68
P/FCF Ratio18.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mirza International Limited Business Overview & Revenue Model
Company Description
Mirza International Limited, originally established in 1979 as Mirza Tanners Limited and based in Kanpur, India, is a key player in the manufacturing and worldwide distribution of leather footwear and other finished leather goods. The company's bu...
How the Company Makes Money
Mirza International primarily makes money by selling finished footwear produced in its manufacturing operations. Its revenue is generated from (1) exports of finished leather footwear to overseas customers (typically through bulk/wholesale orders ...
Mirza International Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.43B | 5.27B | 5.83B | 6.30B | 6.53B | 13.99B |
| Gross Profit | 1.96B | 944.45M | 2.40B | 2.52B | 2.75B | 7.34B |
| EBITDA | 548.53M | 179.32M | 376.64M | 567.30M | 713.20M | 1.94B |
| Net Income | 98.74M | -5.71M | -35.44M | 120.40M | 264.40M | 864.50M |
Balance Sheet | ||||||
| Total Assets | 7.50B | 6.92B | 7.34B | 7.19B | 7.60B | 14.23B |
| Cash, Cash Equivalents and Short-Term Investments | 121.40M | 324.40M | 198.30M | 192.00M | 157.50M | 547.10M |
| Total Debt | 227.80M | 149.30M | 537.80M | 420.90M | 542.60M | 2.08B |
| Total Liabilities | 1.73B | 1.29B | 1.70B | 1.66B | 2.26B | 6.63B |
| Stockholders Equity | 5.77B | 5.63B | 5.64B | 5.53B | 5.33B | 5.05B |
Cash Flow | ||||||
| Free Cash Flow | 36.40M | 198.30M | -183.50M | 159.10M | -70.50M | 1.08B |
| Operating Cash Flow | 116.50M | 365.50M | 282.40M | 496.50M | 469.10M | 1.93B |
| Investing Cash Flow | 104.10M | 93.80M | -288.70M | -294.30M | -534.80M | -807.20M |
| Financing Cash Flow | -297.50M | -333.20M | 12.60M | -167.70M | -323.70M | -1.02B |
Mirza International Limited Technical Analysis
Positive
37.24
Price Trends
31.77
Positive
32.49
Positive
35.10
Positive
Market Momentum
0.72
Negative
69.56
Neutral
77.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIRZAINT, the sentiment is Positive. The current price of 37.24 is above the 20-day moving average (MA) of 31.17, above the 50-day MA of 31.77, and above the 200-day MA of 35.10, indicating a bullish trend. The MACD of 0.72 indicates Negative momentum. The RSI at 69.56 is Neutral, neither overbought nor oversold. The STOCH value of 77.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MIRZAINT.
Mirza International Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹102.79B | 57.95 | ― | 0.75% | -3.13% | 5.27% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹72.65B | 47.32 | ― | 0.39% | 11.37% | 23.68% | |
57 Neutral | ₹92.01B | 66.70 | ― | 0.95% | 0.77% | -59.42% | |
53 Neutral | ₹4.59B | 41.52 | ― | ― | 9.55% | -17.22% | |
49 Neutral | ₹4.90B | -876.50 | ― | ― | -9.29% | 82.53% | |
47 Neutral | ₹10.63B | 75.81 | ― | ― | 31.94% | -19.61% |
* Consumer Cyclical Sector Average
IN:MIRZAINT
Mirza International Limited
35.11
2.74
8.46%
IN:BATAINDIA
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696.40
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IN:BIL
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777.95
79.35
11.36%
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232.35
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-16.72%
IN:LIBERTSHOE
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IN:RELAXO
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419.60
-12.42
-2.87%
Mirza International Limited Corporate Events
Mirza International Closes Trading Window Ahead of Q1 FY27 Results
Jun 27, 2026
Mirza International Limited has announced the closure of its trading window for company securities starting July 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its internal code of conduct. The window will remain...
NCLT Clears Mirza International’s Amalgamation of RTS Fashion
Apr 25, 2026
Mirza International Limited has received approval from the National Company Law Tribunal’s Allahabad Bench for the amalgamation of RTS Fashion Limited, a Jebel Ali Free Zone-based offshore company, into Mirza International. The tribunal pron...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.