Mirza International LimitedQ1 FY27 Results & Financial Update
Mirza International Limited: Q1 FY27 consolidated results and company financials – revenue ₹129.03 Cr, PAT ₹-4.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Mirza International Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Mirza International reported consolidated revenue from operations of INR 129.03 crore for the quarter ended June 30, 2026.
Total consolidated income for Q1 FY27 stood at INR 129.03 crore, bolstered by INR 0.63 crore in other income.
The company recorded a consolidated loss before tax (PBT) of INR 4.44 crore for the quarter, reflecting margin pressures across operational segments.
Consolidated profit after tax (PAT) for Q1 FY27 came in at a net loss of INR 4.07 crore, resulting in a basic and diluted earnings per share of negative INR 0.29.
Segment performance indicates that the core Footwear division generated domestic and export sales of INR 107.44 crore, while the Tannery division contributed INR 31.41 crore in gross segment revenue prior to inter-segment eliminations of INR 10.30 crore.
Total expenses for the period aggregated to INR 133.47 crore, driven by material consumption of INR 62.63 crore, stock purchases of INR 24.26 crore, and employee benefit expenses of INR 20.87 crore.
Finance costs remained modest at INR 0.83 crore, while depreciation and amortization charges stood at INR 7.28 crore for the quarter.
Tax expenses for the period yielded a net tax credit of INR 0.37 crore, consisting entirely of deferred tax adjustments.
01 · Business model
What does Mirza International do?
Mirza International Limited is a manufacturer and marketer of leather footwear and allied products, operating prominent brands such as Red Tape, Thomas Crick, and Oaktrak.
The company's operational model encompasses integrated manufacturing facilities spanning tanneries for leather processing as well as dedicated footwear assembly lines catering to domestic and export markets.
Revenue generation is anchored by two primary product categories: footwear sales (domestic and export) and finished/raw leather and allied tannery products.
The enterprise reaches its customer base through a combination of wholesale channels, retail networks, and international subsidiaries located in key overseas markets including the United Kingdom.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹129.03 Cr |
| Total income | ₹129.03 Cr |
| Profit before tax | ₹-4.44 Cr |
| Profit after tax | ₹-4.07 Cr |
| EPS | ₹-0.29 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -3.2% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -3.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Footwear domestic and export sales contributed INR 107.44 crore in gross segment revenue before inter-segment eliminations.
Tannery domestic and export sales added INR 31.41 crore in gross segment revenue prior to inter-segment adjustments.
What drove margins
Cost of materials consumed stood at INR 62.63 crore alongside stock purchases of INR 24.26 crore and an inventory change offset of negative INR 6.04 crore.
Employee benefit expenses reached INR 20.87 crore, and other operating expenses totalled INR 23.65 crore for the quarter.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Footwear segment reported a segment profit before interest and tax of INR 0.99 crore for Q1 FY27.
The Tannery segment registered a segment loss before interest and tax of INR 2.78 crore.
05 · Reported developments
What changed operationally
Overseas subsidiaries including Mirza (UK) Limited contributed positively to consolidated operations, with Mirza (UK) reporting total revenue of INR 11.68 crore and a net profit after tax of INR 0.44 crore for the quarter.
06 · Pressure points & risks
What is not going smoothly
The company incurred a consolidated net loss after tax of INR 4.07 crore for the quarter ended June 30, 2026.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Lease Accounting Impact
Pursuant to Ind AS 116 adoption, rent expenses were reduced by INR 0.10 crore, while depreciation and finance costs increased by INR 0.10 crore and INR 0.09 crore respectively, resulting in a net decrease in loss before tax of INR 0.09 crore for the quarter.
08 · Key Q&A
The quarter, answered directly
What does Mirza International do?
Mirza International Limited is a manufacturer and marketer of leather footwear and allied products, operating prominent brands such as Red Tape, Thomas Crick, and Oaktrak.
What is the clearest takeaway from Q1 FY27?
Mirza International reported consolidated revenue from operations of INR 129.03 crore for the quarter ended June 30, 2026.
What drove revenue or demand?
Footwear domestic and export sales contributed INR 107.44 crore in gross segment revenue before inter-segment eliminations.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 62.63 crore alongside stock purchases of INR 24.26 crore and an inventory change offset of negative INR 6.04 crore.
What changed operationally beyond the headline numbers?
Pursuant to Ind AS 116 adoption, rent expenses were reduced by INR 0.10 crore, while depreciation and finance costs increased by INR 0.10 crore and INR 0.09 crore respectively, resulting in a net decrease in loss before tax of INR 0.09 crore for the quarter.
What are the main pressure points disclosed for the quarter?
The company incurred a consolidated net loss after tax of INR 4.07 crore for the quarter ended June 30, 2026.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Segment Turnaround: Monitor subsequent quarterly performance of the Tannery division to track operational profitability improvements relative to Footwear.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.