Mirza International Analysis!!
#MirzaInternational
A detailed #Thread below 🪡🧵
#StockMarket #investing
#MirzaInternational
A detailed #Thread below 🪡🧵
#StockMarket #investing
About -
Founded in 1979, Mirza International Limited is India’s leading leather footwear manufacturer, marketer & exporter. They own a portfolio of well recognised brands like Red Tape, Bond Street, Oaktrak, Yezdi & Mode.
Founded in 1979, Mirza International Limited is India’s leading leather footwear manufacturer, marketer & exporter. They own a portfolio of well recognised brands like Red Tape, Bond Street, Oaktrak, Yezdi & Mode.
Mirza is also the preferred suppliers of leather footwear to
leading international brands & one of the largest suppliers of finished leather to overseas
markets.
leading international brands & one of the largest suppliers of finished leather to overseas
markets.
Global Presence -
Mirza International earns 68.24% of it's revenue from India, 17.77% from UK, 4.76% from US and 9.23% from ROW.
Mirza International earns 68.24% of it's revenue from India, 17.77% from UK, 4.76% from US and 9.23% from ROW.
Financial Summary -
Q3 FY22 (YoY)
Total income were at ₹595 Cr. ⬆️56%
PAT at ₹44 Cr. ⬆️173%
EPS at ₹3.65 ⬆️172%
Q3 FY22 (YoY)
Total income were at ₹595 Cr. ⬆️56%
PAT at ₹44 Cr. ⬆️173%
EPS at ₹3.65 ⬆️172%
Revenue Breakup -
Mirza earns 33.14% of it's revenue form Branded Footwear, 24.85% from Non Branded Footwear , 33.75% from Apparels & Accessories and 8.26% from Leather.
Mirza earns 33.14% of it's revenue form Branded Footwear, 24.85% from Non Branded Footwear , 33.75% from Apparels & Accessories and 8.26% from Leather.
Industry Overview -
The Indian footwear industry is underpenetrated with per
capita consumption considerably lower than the global
average & developed countries average of 3 pairs & 6-7
pairs,respectively, indicating scope for significant market
growth.
The Indian footwear industry is underpenetrated with per
capita consumption considerably lower than the global
average & developed countries average of 3 pairs & 6-7
pairs,respectively, indicating scope for significant market
growth.
Coupled with a dynamic
lifestyle, evolving purchase habits & impact of social media,
rapid changes have come about in fashion trends, influencing
footwear industry as well.
lifestyle, evolving purchase habits & impact of social media,
rapid changes have come about in fashion trends, influencing
footwear industry as well.
Growth Strategy -
• Mirza has continued to strengthen
its retail network expansion in underpenetrated markets.
• Focusing on export
marketing of its product.
• Mirza has continued to strengthen
its retail network expansion in underpenetrated markets.
• Focusing on export
marketing of its product.
• With continuous focus on Domestic market, REDTAPE remains
successful in expanding its presence across India.
• E-commerce is the fastest growing channel for Mirza. Co continued its sustained
investments on these platforms & is well positioned to
drive growth in future.
successful in expanding its presence across India.
• E-commerce is the fastest growing channel for Mirza. Co continued its sustained
investments on these platforms & is well positioned to
drive growth in future.
Risks -
• Exposure to volatility in commodity prices and fluctuations in exchange rate.
• Footwear industry does not have a capital intensive manufacturing process & hence, the barriers to entry of new players are low.
• Exposure to volatility in commodity prices and fluctuations in exchange rate.
• Footwear industry does not have a capital intensive manufacturing process & hence, the barriers to entry of new players are low.
Conclusion -
Long term views are positive on Mirza International with rising disposable incomes, emergence of
fashion conscious & aspirational consumers, Indian
footwear market is well positioned to achieve double
digit growth over the next few years.
Long term views are positive on Mirza International with rising disposable incomes, emergence of
fashion conscious & aspirational consumers, Indian
footwear market is well positioned to achieve double
digit growth over the next few years.
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@DrdhimanBhatta1 @caniravkaria @shubhfin @HareshVithlani
@DrdhimanBhatta1 @caniravkaria @shubhfin @HareshVithlani
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