Mirza International, an Uttar Pradesh based company is engaged in manufacturing and marketing of leather and leather footwear. The company markets its products to countries like the UK, Europe, South Africa and the Middle East.

Q2FY17 performance was very lacklustre. The company reported a 2% (YoY) drop in total income at Rs.250 crore. EBITDA was down 7% at Rs.38 crore and margins slipped from 16.05% to 15.18%. Interest outgo was down 31%.

The company ended the quarter with a net profit at Rs.16.35 crore, down 2%. Equity stands heavy at Rs.24.06 crore and annualized EPS was at Rs.6 (FV of Rs.2). Its debt has come down from Rs.190 crore to Rs.158 crore and cash is at Rs.20 crore. 

The stock market was very disappointed with this performance and the stock price hit a new 52-week low yesterday at Rs.75.