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Mirza International Limited was incorporated on September 5, 1979 with a small tannery for manufacturing finished leather at Magarwara near Kanpur. The company, established by Irshad Mirza and Rashid Mirza, was then called ‘Mirza Tanners Private Limited’.

The company focused on supplying high quality leather and leather products to the overseas markets and gradually became one of the largest exporters of finished leather in the country.

During this phase, Mirza took a significant leap, by venturing into newer areas which were extensions of its existing competencies. The global shoe market was then looking upon outsourcing of leather footwear in a big way. To take advantage of this opportunity, Mirza diversified into manufacturing of shoes. Very swiftly, four state-of-the-art manufacturing units were setup at Unnao and Noida.

Having gained a foothold in the footwear business, Mirza quickly reorganized itself by setting up in-house design and development studios, marketing offices and a strong distribution and logistics network. After successfully reorganizing itself, Mirza moved a step ahead of others by launching its own brands ‘Red Tape’ and ‘Oaktrak’.

Having firmly established its product line and market geographies, the company spread its wings to several other countries through its marketing companies and networking associates. Some of countries where Mirza has a significant presence are UK, Portugal, South Africa, USA, Germany, France, Scandinavian countries and UAE. 80% of company’s sales being contributed by overseas sales to 24 countries.

Today, the company has emerged as a frontrunner in the manufacturing and marketing of leather and leather footwear. The company is listed on the NSE, BSE and UP Stock exchanges and is ISO 9001, 9002 and 14000 certified.

The company has four fully integrated in-house shoe production facilities with an installed production capacity of 3.35 mn pairs of shoes per annum. The manufacturing plants are located at Magarwara and Sahjani in Unnao, and in Noida. The tannery is located at Magarwara in Unnao. These facilities are backed by a state-of-the-art double density direct injection polyurethane plant, a tannery with a capacity of 20 million sq ft per annum & its own effluent treatment plant and 25 dedicated ancillary units. Shoes are produced at these facilities using latest methods like Stuck on, Double Density Direct Injection & Moccassins

The company sources its cowhides from Europe and manufactures leather in stringent adherence to international norms, ensuring that no banned chemicals are used in the production process.

In addition to direct sales to leading global footwear retailers, the company also has a strong presence in the branded segment through three brands: Red Tape, Oak Trak, Red Tape Gal.

Mirza International Limited’s focus on design is a key differentiator for its shoes. The company invests considerable resources on research and development on an ongoing basis, in order to introduce new designs, styles and product lines into the market.

Product range of the company include:

Market Cap	3,649 Cr	ROE	16.2%
P/E Ratio(TTM)	23.2	EPS(TTM)	0.0
P/B Ratio	4.1	Dividend Yield	0.0%
Industry P/E	116.5	Book Value	64.5
		Face Value	2.0

Fundamentals