Mirza International Limited (MIRZAINT) AI Stock Analysis

• Market Cap: ₹5.88B
• Dividend Yield: N/A
• Average Volume (3M): 54.28K
• Price to Earnings (P/E): 43.2
• Beta (1Y): 1.08
• Revenue Growth: -10.28%
• EPS Growth: 33.06%
• Country: IN
• Employees: 1,662
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): 1.29
• Shares Outstanding: 138,201,900
• 10 Day Avg. Volume: 129,162
• 30 Day Avg. Volume: 54,280
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹41.00
• Price Target Upside: -3.62% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 67 Neutral
• Price Target: ₹41.00 ▼(-3.62% Downside)

Mirza International Limited's stock score is primarily influenced by its financial performance challenges, including declining revenues and profitability. The technical analysis shows strong momentum, but the valuation suggests the stock may be overvalued. The absence of earnings call data and corporate events means these factors did not influence the score.

Mirza International Limited Business Overview & Revenue Model

Company Description

Mirza International Limited manufactures and markets leather footwear and finished leather products in India and internationally. It operates through three segments: Tannery Division, Shoe Division, and Garments/Accessories Division. The company offers men's and women's footwear; and formal, semi-formal, and casual footwear. It also provides men's casual and semi-formal wear, including shirts, T-shirts, trousers, denims, sweaters, and jackets, as well as belts, socks, handkerchiefs, and wallets; and women's clothing. The company sells its products under the REDTAPE, REDTAPE Athleisure, Bond Street, Oaktrak, YEZDI, and MODE brands through multi-brand outlets, chain stores, exclusive brand outlets, and e-commerce platforms, as well as online stores. It operates through a network of 276 retail stores. The company was formerly known as Mirza Tanners Limited. Mirza International Limited was incorporated in 1979 and is headquartered in Kanpur, India.

How the Company Makes Money

Mirza International Limited generates revenue primarily through the sale of its footwear and accessories under the brand 'Red Tape.' The company capitalizes on its strong distribution network, which includes retail outlets, e-commerce platforms, and international sales channels. By leveraging its in-house design and manufacturing capabilities, Mirza International maintains cost efficiency and scalability, contributing to its profitability. Additionally, the company benefits from strategic partnerships and collaborations to enhance its market presence and expand its product offerings, thus driving revenue growth.

Mirza International Limited Financial Statement Overview

Summary

Mirza International Limited faces challenges with declining revenues and profitability, evidenced by a net loss in the most recent year. While it exhibits strong equity and effective debt management, the company must address its revenue and cash flow challenges to return to a growth trajectory. Continued focus on cost management and improving cash flow generation will be crucial for future stability and growth.

Income Statement

Mirza International Limited has experienced a declining revenue trend over the past few years, with a notable drop from 16.79 billion in 2022 to 5.83 billion in 2025. Gross profit margins have been relatively stable, although there was a decrease in EBIT and EBITDA margins in 2025 compared to previous years. The company reported a net loss in 2025, which raises concerns about profitability. Despite these challenges, the company has maintained a reasonable gross profit margin, indicating some resilience in cost management.

Balance Sheet

The company maintains a healthy equity position with a substantial stockholders' equity base. The debt-to-equity ratio has improved, reflecting effective debt management. However, the total assets have been decreasing over time, which could indicate potential risks in asset utilization. The equity ratio remains strong, suggesting solid financial stability.

Cash Flow

Mirza International Limited has shown significant fluctuations in free cash flow, with negative figures in the most recent year. The operating cash flow has decreased, and the free cash flow to net income ratio is concerning due to the net loss. Despite these challenges, the company has managed to maintain positive operating cash flow, which is a positive sign for liquidity.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2022	Dec 2020
Income Statement
Total Revenue	5.82B	5.83B	6.30B	16.79B	6.53B	12.61B
Gross Profit	1.77B	2.40B	2.52B	7.34B	2.75B	5.58B
EBITDA	377.45M	376.64M	567.30M	1.94B	713.20M	1.73B
Net Income	-35.44M	-35.44M	120.40M	864.50M	264.40M	477.10M
Balance Sheet
Total Assets	7.34B	7.34B	7.19B	14.23B	7.60B	12.60B
Cash, Cash Equivalents and Short-Term Investments	198.30M	198.30M	192.00M	252.50M	157.50M	250.60M
Total Debt	477.70M	534.10M	420.90M	2.36B	263.70M	4.53B
Total Liabilities	1.70B	1.70B	1.66B	6.63B	2.26B	6.32B
Stockholders Equity	5.64B	5.64B	5.53B	7.60B	5.33B	6.28B
Cash Flow
Free Cash Flow	0.00	-183.50M	159.10M	1.08B	-70.50M	1.58B
Operating Cash Flow	0.00	282.40M	496.50M	1.93B	469.10M	2.28B
Investing Cash Flow	0.00	-288.70M	-294.30M	-807.20M	-534.80M	-627.60M
Financing Cash Flow	0.00	12.60M	-167.70M	-1.02B	-323.70M	-1.57B

Mirza International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 42.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 42.54 is above the 20-day moving average (MA) of 34.74, above the 50-day MA of 34.05, and above the 200-day MA of 33.04, indicating a bullish trend. The MACD of 1.83 indicates Negative momentum. The RSI at 77.90 is Negative, neither overbought nor oversold. The STOCH value of 84.28 is Negative, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MIRZAINT	67 Neutral	₹5.88B	43.16		―	-10.28%	33.06%
MUNJALAU	67 Neutral	9.03B	22.30	8.75%	1.10%	8.73%	0.25%
KITEX	64 Neutral	43.94B	33.23	13.43%	0.23%	49.50%	74.50%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Mirza International Limited Corporate Events

Mirza International Announces Virtual AGM and Urges KYC Updates

Mirza International Limited has announced the scheduling of its 46th Annual General Meeting (AGM) on July 26, 2025, to be conducted virtually. The company has updated its shareholders regarding the availability of the Integrated Annual Report for the financial year 2024-25 on its website, as per the amended SEBI regulations. Shareholders are encouraged to update their KYC details to ensure seamless electronic transactions, including dividend payments.

Mirza International Limited Schedules 46th AGM via Virtual Conference

Mirza International Limited has announced the scheduling of its 46th Annual General Meeting (AGM) to be held on July 26, 2025, through video conferencing. This announcement, published in Business Standard, highlights the company’s commitment to maintaining transparency and engaging with stakeholders effectively, despite the challenges posed by the need for virtual meetings.