Mirza International Ltd
NSE:MIRZAINT
Mirza International Ltd
Mirza International Ltd. engages in the manufacture and export of leather and footwear products. The company is headquartered in Kanpur, Uttar Pradesh. The firm operates through three segments: Tannery Division, Shoe Division and Garments/ Accessories Division. Its Tannery Division is engaged in manufacturing finished leather from Raw Hides, Wet Blue and Crust. The firm's Shoe Division is engaged in manufacturing finished leather shoes. The firm's Garments/ Accessories Division is engaged in trading of garments/accessories. The firm's brands include REDTAPE, REDTAPE Athleisure, Bond Street, Mode, Oaktrak and Yezdi. The firm has exclusive brand outlets (EBOs) and e-commerce platforms. The firm has approximately 276 retail stores across the country with a total area of 5,07,218 square feet. The firm's subsidiaries include Mirza (HK) Limited, Mirza Bangla Limited and Sen En Mirza Industrial Supply Chain LLP.
Mirza International Ltd. engages in the manufacture and export of leather and footwear products. The company is headquartered in Kanpur, Uttar Pradesh. The firm operates through three segments: Tannery Division, Shoe Division and Garments/ Accessories Division. Its Tannery Division is engaged in manufacturing finished leather from Raw Hides, Wet Blue and Crust. The firm's Shoe Division is engaged in manufacturing finished leather shoes. The firm's Garments/ Accessories Division is engaged in trading of garments/accessories. The firm's brands include REDTAPE, REDTAPE Athleisure, Bond Street, Mode, Oaktrak and Yezdi. The firm has exclusive brand outlets (EBOs) and e-commerce platforms. The firm has approximately 276 retail stores across the country with a total area of 5,07,218 square feet. The firm's subsidiaries include Mirza (HK) Limited, Mirza Bangla Limited and Sen En Mirza Industrial Supply Chain LLP.
Strong Revenue Growth: Mirza International reported a 29% increase in total revenue for Q3 FY20 to INR 398.02 crores, compared to INR 307.38 crores last year.
Profit Surge: Net profit after tax jumped to INR 21.53 crores from INR 7.46 crores in the same quarter last year.
Margin Expansion: EBITDA margin improved to 12.63%, and gross margin rose to 43% from 40% year-on-year.
Inventory & Debt Reduction: Inventory declined by INR 41 crores over the last 9 months, and net borrowings reduced by INR 75 crores to INR 275 crores.
Strong Retail & Brand Performance: Indian-branded sales grew 35% YoY in Q3, achieving the highest-ever quarterly turnover for the Red Tape and Bond Street brands.
Retail & Channel Growth: Retail business grew 66% in Q3, with same-store sales increasing by 33% over 9 months. 13 new outlets were added in the quarter.
Export & Market Diversification: Export sales grew 23% YoY in Q3, with a strong performance in the UK market but a marginal decline in other regions.
Cost Controls: The company maintained low import duties by sourcing from non-China Asian countries and reported reduced rental costs in several stores.
