Quarterly Results: Mirza International Ltd
Bhagyashree Vivarekar / 15 Nov 2016
Mirza International Ltd., is currently trading at Rs. 81.05, down by 5.15 points or 5.97% from its previous closing of Rs. 86.2 on the BSE.Net profit has surged by 2.1% yoy to Rs 16.35 cr.
Technical View:
Mirza International Ltd., is currently trading at Rs. 81.05, down by 5.15 points or 5.97% from its previous closing of Rs. 86.2 on the BSE.
The scrip touched a high and low of Rs. 86.15 and Rs. 80.25 respectively, after opening at 85.15. Altogether 196938(NSE+BSE) shares have been traded on the counter; and the stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Bloomberg estimates were higher than Mirza International Ltd’s Q2FY17 standalone numbers. Revenue for the period has come in 9.4% lower than the estimate of Rs 276 cr. Net profit for the period has come in 26.7% lesser than the estimate of Rs 22 cr.
The quarter's revenue has declined by 2% yoy to Rs 250.32 cr. However, leather segment has registered 14% yoy upsurge.
Mirza's EBITDA has depleted by 7.3% yoy to Rs 37.84 cr while EBITDA margins have shrunken 86 bps yoy to 15.1%. Cost of Material consumed has jumped 20% yoy to Rs 84.76 cr.
Net profit has surged by 2.1% yoy to Rs 16.35 cr, triggered by dip in finance cost of 32% yoy to Rs 6.51 cr.
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