The shares of Leather stock, specialized manufacturers & exporters of finished leather, jumped up to 15 percent following the announcement of a new scheme in the Union Budget 2025-26.
Price action
With a market capitalization of Rs. 584.87 crores on Monday, the shares of Mirza International Ltd jumped up to 14.5 percent making a high of Rs. 43.80 per share compared to its previous closing price of Rs. 38.25 per share.
What Happened
Mirza International Ltd specializes in manufacturers & exporters of finished leather has rallied amid the announcement of a focus product scheme by the government in the Union Budget last Saturday.
The scheme aims to improve the overall sector’s output and it is expected to generate employment for 22 lakh individuals and generate a turnover of around Rs. 4 lakh crore. Additionally, the initiative is projected to increase exports, reaching over Rs. 1.1 lakh crore. This scheme will not only strengthen the domestic industry but also improve India’s position in the global footwear and leather markets.
About the Company
Mirza International Limited is a leading Indian company specializing in the manufacturing, marketing, and exporting of leather footwear and apparel, the company operates through segments including a tannery business, a shoe manufacturing division, and accessories, and is recognized as one of the top producers of finished leather and leather shoes in the country.
Segmental Revenue
The company generated revenue from only two major divisions as follows: the footwear division contributes 86.52 percent, the Tannery division contributes 13.05 percent and the 0.42 percent from the Others segment to the Income from Operations as of December 2024.
Financials
The company’s total revenue declined by 19.7 percent from Rs. 143.22 crore to Rs. 114.92 crore in Q3FY24-25. Meanwhile, Net profit declined from a profit of Rs. 4.4 crores to a loss of Rs. 5.69 crores in Q3FY24-25.
Written by Sridhar J
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