Shares of this footwear company rise after a robust Q3FY23 performance!

As per the exchange filing, the company’s net revenue grew 0.88% YoY and 23.49% QoQ to Rs 594.7 crore.

The shares of Mirza International Ltd are buzzing on the bourses today. As of 10.43 am, the shares of the company are trading higher by 13.36%. Today, the company reported a spurt in trading volume by more than 1.8 times. Owing to this, the stock is one of the top gainers on BSE from Group A.

Meanwhile, the frontline index S&P BSE Sensex is up by 0.50%.

Robust Q3 numbers

This rally comes after the company announced its Q3FY23 performance. As per the exchange filing, the company’s net revenue grew 0.88% YoY and 23.49% QoQ to Rs 594.7 crore. The PAT grew 30.9% YoY and 76% QoQ to Rs 57.57 crore. 

The company is currently trading at a TTM PE of 16.8x against the industry PE of 75x. In FY22, the company delivered an ROE & ROCE of 16% and 22%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 3,081.04 crore.

Share price movements of Mirza International Ltd

Today, the scrip of Mirza International Ltd opened at Rs 246 and has touched a high and low of Rs 259.75 and Rs 242, respectively. So far 1,80,423 shares have been traded on the bourses.

At 10.43 am, the shares of Mirza International Ltd were trading at Rs 256.30, an increase of 13.36% from the previous day’s closing price of Rs 226.10 on BSE. The stock has a 52-week high & low of Rs 379.75 and Rs 136.05, respectively on BSE.

About the company

Mirza International is India’s leading manufacturer and marketer of leather footwear and finished leather. Apart from supplying products to global retailers, Mirza also has global in-house brands - Red Tape and Oaktrak - in its portfolio. A company with both a legacy and a vision, Mirza is dedicated to expanding the reach of its in-house brands and strengthening customer connections.