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Last Updated on: 27 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of Mirza International Ltd

Share Price and Basic Stock Data

Last Updated: July 26, 2024, 10:21 pm

Market Cap 647 Cr.
Current Price 46.8
High / Low63.6/39.5
Stock P/E53.7
Book Value 40.0
Dividend Yield0.00 %
ROCE4.87 %
ROE2.22 %
Face Value 2.00
PEG Ratio-2.51

Data Source: screener.in

Stock P/E and Current Price Over Time

Competitors of Mirza International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Billwin Industries Ltd 17.6 Cr. 42.070.1/30.422.2 15.10.00 %13.8 %13.9 % 10.0
Anka India Ltd 13.4 Cr. 15.320.5/0.00 0.560.00 %%% 10.0
Amin Tannery Ltd 26.4 Cr. 2.443.09/1.9673.2 1.160.00 %5.03 %2.92 % 1.00
Superhouse Ltd 253 Cr. 230275/19020.3 4150.35 %4.66 %2.79 % 10.0
Sreeleathers Ltd – a Premier Leather Goods Manufacturer 727 Cr. 314436/20027.1 1800.00 %9.29 %6.80 % 10.0
Industry Average6,331.75 Cr301.1145.57127.030.14%10.88%8.59%6.71

Mirza International Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales381.25312.78251.77392.74589.57165.13186.01176.25129.87153.31127.60208.70141.67
Expenses334.39272.62215.98344.33509.69149.70162.87156.08115.91146.81116.65196.66126.25
Operating Profit46.8640.1635.7948.4179.8815.4323.1420.1713.966.5010.9512.0415.42
OPM %12.29%12.84%14.22%12.33%13.55%9.34%12.44%11.44%10.75%4.24%8.58%5.77%10.88%
Other Income0.230.330.8810.855.400.090.240.130.164.610.973.191.55
Interest12.057.426.497.346.483.102.052.711.901.922.022.363.94
Depreciation18.3220.0814.5818.1417.327.026.576.327.166.127.046.407.18
Profit before tax16.7212.9915.6033.7861.485.4014.7611.275.063.072.866.475.85
Tax %3.89%31.56%25.90%20.87%28.55%-47.96%29.13%20.76%24.31%25.08%14.69%38.02%24.96%
Net Profit16.078.8911.5526.7243.927.9810.468.933.832.312.444.014.40
EPS in Rs1.340.740.962.223.650.660.870.740.320.170.180.290.32

Last Updated: July 10, 2024, 7:23 pm

Quarterly Chart

Mirza International Ltd Profit & Loss

Last Updated: July 10, 2024, 7:23 pm

MonthMar 2006Mar 2007Mar 2008Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2252872899369721,1521,2611,0491,399653619
Expenses2072582867757971,0091,0899301,223590576
Operating Profit182931611751431721191766344
OPM %8%10%1%17%18%12%14%11%13%10%7%
Other Income1521271-13201889
Interest71415262534464123108
Depreciation7892932356367582627
Profit before tax192861071187664121133617
Tax %37%37%44%33%33%36%26%30%23%26%
Net Profit12183727849488862615
EPS in Rs1.271.900.355.966.524.063.970.697.191.911.19
Dividend Payout %39%26%86%15%14%22%23%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2006-20072007-20082017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)50.00%-83.33%8.33%-37.18%-2.04%-83.33%975.00%-69.77%
Change in YoY Net Profit Growth (%)0.00%-133.33%91.67%-45.51%35.14%-81.29%1058.33%-1044.77%

Mirza International Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:-11%
3 Years:-16%
TTM:-3%
Compounded Profit Growth
10 Years:%
5 Years:-24%
3 Years:11%
TTM:-50%
Stock Price CAGR
10 Years:28%
5 Years:42%
3 Years:76%
1 Year:-4%
Return on Equity
10 Years:%
5 Years:6%
3 Years:7%
Last Year:2%

Last Updated: July 25, 2024, 7:39 am

Mirza International Ltd Balance Sheet

Last Updated: July 10, 2024, 7:23 pm

MonthMar 2006Mar 2007Mar 2008Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital1919192424242424282828
Reserves98107113478548588604614481506519
Borrowings107112113156283357288140492651
Other Liabilities516263106146147344392174169153
Total Liabilities2743003087641,0021,1151,2601,170732729751
Fixed Assets111118124354357409585568361394389
CWIP1318302255118415
Investments6261111271212
Other Assets145163148408619701663592360322345
Total Assets2743003087641,0021,1151,2601,170732729751

Reserves and Borrowings Chart

Mirza International Ltd Cash Flow

MonthMar 2006Mar 2007Mar 2008Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity -429114-2435228238-44750
Cash from Investing Activity -18-19-36-59-67-63-4155-53-29
Cash from Financing Activity 12-10-828926-157-201-12-32-17
Net Cash Flow-10-1-56-68-339-393

Free Cash Flow

MonthMar 2006Mar 2007Mar 2008Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-89.00-83.00-110.005.00-108.00-214.00-116.00-21.00127.0018.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Mirza International Ltd Financial Efficiency Indicators

MonthMar 2006Mar 2007Mar 2008Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days4445392650494128154846
Inventory Days29221818019229124021426470155149
Days Payable5759582965455068479173
Cash Conversion Cycle27920416118927524420622438113121
Working Capital Days1791501231201771761341384096111
ROCE %18%9%19%12%12%6%20%8%

Financial Efficiency Indicators Chart

Mirza International Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters67.66%67.66%67.79%67.91%67.91%67.91%67.95%68.15%71.77%71.77%71.76%71.77%
FIIs0.04%0.04%1.65%2.82%3.00%3.42%3.49%3.09%1.56%2.40%1.38%0.47%
DIIs0.04%0.04%0.04%0.04%0.04%3.11%3.87%4.47%4.13%0.00%0.00%0.00%
Public32.26%32.26%30.52%29.23%29.05%25.56%24.69%24.30%22.55%25.83%26.85%27.75%
No. of Shareholders52,64857,56864,26968,22167,61567,75270,80872,75673,02991,50087,64487,980

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)0.871.919.380.693.97
Diluted EPS (Rs.)0.871.919.380.693.97
Cash EPS (Rs.)2.923.7614.406.239.24
Book Value[Excl.RevalReserv]/Share (Rs.)39.9938.6063.1553.0652.20
Book Value[Incl.RevalReserv]/Share (Rs.)39.9938.6063.1553.0652.20
Revenue From Operations / Share (Rs.)45.6147.25139.5487.19104.84
PBDIT / Share (Rs.)4.105.1620.029.9314.42
PBIT / Share (Rs.)2.053.3115.014.409.15
PBT / Share (Rs.)1.202.6012.760.995.36
Net Profit / Share (Rs.)0.871.919.390.693.97
NP After MI And SOA / Share (Rs.)0.871.919.380.693.97
PBDIT Margin (%)8.9910.9214.3411.3913.75
PBIT Margin (%)4.507.0010.755.048.72
PBT Margin (%)2.635.509.141.135.10
Net Profit Margin (%)1.914.046.730.793.78
NP After MI And SOA Margin (%)1.914.046.720.793.78
Return on Networth / Equity (%)2.174.9514.861.307.59
Return on Capital Employeed (%)4.827.9817.456.1213.13
Return On Assets (%)1.673.627.930.713.78
Long Term Debt / Equity (X)0.000.000.010.010.02
Total Debt / Equity (X)0.060.040.100.190.43
Asset Turnover Ratio (%)0.870.601.290.861.06
Current Ratio (X)2.352.042.021.891.53
Quick Ratio (X)1.161.020.660.500.55
Inventory Turnover Ratio (X)1.700.760.610.430.74
Dividend Payout Ratio (NP) (%)0.000.000.000.0045.39
Dividend Payout Ratio (CP) (%)0.000.000.000.0019.48
Earning Retention Ratio (%)0.000.000.000.0054.61
Cash Earning Retention Ratio (%)0.000.000.000.0080.52
Interest Coverage Ratio (X)4.817.288.922.913.81
Interest Coverage Ratio (Post Tax) (X)2.023.705.191.202.05
Enterprise Value (Cr.)609.53494.321992.96657.87695.47
EV / Net Operating Revenue (X)0.960.751.190.620.55
EV / EBITDA (X)10.746.938.285.514.01
MarketCap / Net Operating Revenue (X)0.940.741.150.520.34
Retention Ratios (%)0.000.000.000.0054.60
Price / BV (X)1.070.902.550.850.70
Price / Net Operating Revenue (X)0.940.741.150.520.34
EarningsYield0.020.050.050.010.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 48.64

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 3.93% compared to the current price 46.8

Intrinsic Value: 38.22

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 18.32% compared to the current price 46.8

Last 5 Year EPS CAGR: -21.41%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (423.82 cr) compared to borrowings (153.18 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (362.27 cr) and profit (54.18 cr) over the years.
  1. The stock has a low average ROCE of 9.45%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 131.27, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 186.73, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Mirza International Ltd:
    1. Net Profit Margin: 1.91%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 4.82% (Industry Average ROCE: 10.88%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✗ ROE%: 2.17% (Industry Average ROE: 8.59%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.02
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.16
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✗ Stock P/E: 53.7 (Industry average Stock P/E: 45.57)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.06
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Mirza International Ltd. is a Public Limited Listed company incorporated on 05/09/1979 and has its registered office in the State of Uttar Pradesh, India. Company’s Corporate Identification Number(CIN) is L19129UP1979PLC004821 and registration number is 004821. Currently Company is involved in the business activities of Tanning and finishing of sole leather. Company’s Total Operating Revenue is Rs. 1671.55 Cr. and Equity Capital is Rs. 24.06 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Leather/Synthetic Products14/6, Civil Lines, Kanpur Uttar Pradesh 208001priyanka.pahuja@redtapeindia.com
http://www.mirza.co.in
Management
NamePosition Held
Mr. Tauseef Ahmad MirzaManaging Director
Mr. Shahid Ahmad MirzaWhole Time Director
Mr. Tasneef Ahmad MirzaWhole Time Director
Mr. Faraz MirzaWhole Time Director
Mr. Nirmal SahijwaniWhole Time Director
Mr. Sudhindra Kumar JainIndependent Director
Dr. Yashvir SinghIndependent Director
Mr. Qazi Noorus SalamIndependent Director
Mr. Sanjay BhallaIndependent Director
Mr. Sanjiv GuptaIndependent Director
Ms. Saumya SrivastavaIndependent Director
Mr. Sabir Amin Ul RahmanIndependent Director

FAQ

What is the latest fair value of Mirza International Ltd?

The latest fair value of Mirza International Ltd is ₹48.64.

What is the Market Cap of Mirza International Ltd?

The Market Cap of Mirza International Ltd is 647 Cr..

What is the current Stock Price of Mirza International Ltd as on 27 July 2024?

The current stock price of Mirza International Ltd as on 27 July 2024 is 46.8.

What is the High / Low of Mirza International Ltd stocks in FY 2024?

In FY 2024, the High / Low of Mirza International Ltd stocks is 63.6/39.5.

What is the Stock P/E of Mirza International Ltd?

The Stock P/E of Mirza International Ltd is 53.7.

What is the Book Value of Mirza International Ltd?

The Book Value of Mirza International Ltd is 40.0.

What is the Dividend Yield of Mirza International Ltd?

The Dividend Yield of Mirza International Ltd is 0.00 %.

What is the ROCE of Mirza International Ltd?

The ROCE of Mirza International Ltd is 4.87 %.

What is the ROE of Mirza International Ltd?

The ROE of Mirza International Ltd is 2.22 %.

What is the Face Value of Mirza International Ltd?

The Face Value of Mirza International Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mirza International Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE