Buy Mirza International Ltd. target Rs 172: ICICI Securities

ICICI Securities has buy call on Mirza International Ltd. in the range of Rs 148-153, with a target price of Rs 172. The current market price of Mirza International Ltd. is Rs 161.5 Time period given by analyst is a week when Mirza International Ltd. price can reach defined target. ICICI Securities recommended to keep stoploss at Rs 138.

Mirza International Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 1868.35 crore) operating in Leather sector.

Mirza International Ltd. key Products/Revenue Segments include Leather & Leather Goods which contributed Rs 859.53 crore to Sales Value (92.33 % of Total Sales) and Other Operating Revenue which contributed Rs 71.33 crore to Sales Value (7.66 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-03-2017, the company has reported a Standalone sales of Rs 205.19 crore, down 10.01% from last quarter Sales of Rs 228.03 crore and up .23% from last year same quarter sales of Rs 204.73 crore. Company has reported net profit after tax of Rs 17.65 crore in latest quarter. The company’s top management includes Dr.Yashvir Singh, Mr.Irshad Mirza, Mr.Islamul Haq, Mr.N P Upadhyay, Mr.Pashupati Nath Kapoor, Mr.Qazi Noorus Salam, Mr.Rashid Ahmed Mirza, Mr.Shahid Ahmad Mirza, Mr.Subhash Sapra, Mr.Sudhindra Kumar Jain, Mr.Tasneef Ahmad Mirza, Mr.Tauseef Ahmad Mirza, Mrs.Vinita Kejriwal. Company has Khamesra Bhatia & Mehrotra as its auditors. As on 31-03-2017, the company has a total of 120,306,000 shares outstanding.