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Mirza International Limited
(MIRZAINT)
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Rating:47Neutral
Price Target:
₹27.00
▼(-23.06% Downside)
Action:Reiterated
Date:10/02/26
The score is held back primarily by deteriorated profitability and multi-year revenue/margin pressure, reinforced by bearish technicals (below key moving averages and negative MACD). Low leverage and improved FY2026 free cash flow provide some support, but the negative P/E and lack of dividend data limit valuation comfort.
Positive Factors
Low Leverage
Debt-to-equity of about 0.03 in FY2026, down from roughly 0.41–0.47 in FY2021–FY2022, indicates limited leverage and a meaningful equity cushion. This supports resilience and preserves capacity to fund operations or respond to demand weakness.
Negative Factors
Persistent Revenue Decline
Revenue declined in every year from FY2023 through FY2026, indicating a persistent top-line contraction rather than a single weak period. Continued shrinking sales can reduce scale benefits, limit reinvestment, and make recovery in operating profit more difficult over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Debt-to-equity of about 0.03 in FY2026, down from roughly 0.41–0.47 in FY2021–FY2022, indicates limited leverage and a meaningful equity cushion. This supports resilience and preserves capacity to fund operations or respond to demand weakness.
Read all positive factors
Mirza International Limited (MIRZAINT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.84B
Dividend Yield3.04%
Average Volume (3M)7.97K
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth-11.43%
EPS Growth-264.80%
CountryIN
Employees1,288
SectorGeneral
Sector StrengthN/A
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-1.62
Shares Outstanding138,201,900
10 Day Avg. Volume5,424
30 Day Avg. Volume7,971
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 Limited primarily makes money by selling footwear and related products through a mix of (1) branded consumer sales and (2) manufacturing/supplying products to other businesses. Revenue is generated when the company sells finish...
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 | 5.14B | 5.27B | 5.83B | 6.30B | 6.53B | 13.99B |
| Gross Profit | 1.04B | 944.45M | 2.40B | 2.52B | 2.75B | 7.34B |
| EBITDA | 100.40M | 387.80M | 376.64M | 567.30M | 713.20M | 1.92B |
| Net Income | -224.50M | -5.71M | -35.44M | 120.40M | 264.40M | 864.50M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.92B | 7.34B | 7.19B | 7.60B | 14.23B |
| Cash, Cash Equivalents and Short-Term Investments | 324.60M | 324.40M | 198.30M | 192.00M | 157.50M | 547.10M |
| Total Debt | 0.00 | 209.10M | 537.80M | 420.90M | 542.60M | 2.08B |
| Total Liabilities | -5.63B | 1.29B | 1.70B | 1.66B | 2.26B | 6.63B |
| Stockholders Equity | 5.63B | 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
Negative
35.09
Price Trends
30.92
Negative
32.14
Negative
33.06
Negative
Market Momentum
-1.00
Positive
28.04
Positive
39.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIRZAINT, the sentiment is Negative. The current price of 35.09 is above the 20-day moving average (MA) of 28.94, above the 50-day MA of 30.92, and above the 200-day MA of 33.06, indicating a bearish trend. The MACD of -1.00 indicates Positive momentum. The RSI at 28.04 is Positive, neither overbought nor oversold. The STOCH value of 39.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MIRZAINT.
Mirza International Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | ₹71.61B | 37.77 | ― | 1.24% | 2.11% | 5.98% | |
60 Neutral | ₹79.08B | 53.07 | ― | 5.64% | 1.91% | -29.92% | |
58 Neutral | ₹63.63B | 39.48 | ― | 0.75% | 13.71% | 30.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹3.67B | 41.70 | ― | 1.12% | 6.46% | -30.10% | |
51 Neutral | ₹14.40B | 54.30 | ― | 0.58% | 34.34% | -10.31% | |
47 Neutral | ₹3.84B | -16.94 | ― | 3.04% | -11.43% | -264.80% |
* General Sector Average
IN:MIRZAINT
Mirza International Limited
27.40
-9.31
-25.36%
IN:BATAINDIA
Bata India Ltd
603.35
-515.02
-46.05%
IN:BIL
Bhartiya International Limited
1,038.65
215.80
26.23%
IN:CAMPUS
Campus Activewear Ltd.
199.00
-76.96
-27.89%
IN:LIBERTSHOE
Liberty Shoes Limited
208.90
-117.10
-35.92%
IN:RELAXO
Relaxo Footwears Limited
282.20
-151.36
-34.91%
Mirza International Limited Corporate Events
Mirza International Schedules 47th AGM, Releases 2025-26 Annual Report
Jul 3, 2026
Mirza International Limited has released its Annual Report for the financial year 2025-26 and issued notice for its 47th Annual General Meeting, which will be held on August 1, 2026 at 11:30 a.m. via video conferencing and other audio-visual means...
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.