Mirza International Limited has incorporated a new wholly owned subsidiary, Mirza Global Limited, on October 8, 2026. The entity is established to carry out the manufacturing, retail, wholesale marketing, and e-commerce business of footwear.

The incorporation was disclosed in a filing to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new company is registered in India with an authorised share capital of ₹15 lakh.

Subsidiary details and structure

Mirza Global Limited is a 100% wholly owned subsidiary of the parent company. The acquisition involved a 100% initial subscription to the share capital in cash by Mirza International Limited. As the entity is fully owned by the listed parent, it is classified as a related party transaction.

The subsidiary is yet to commence business operations; therefore, turnover details are not applicable at this stage. No governmental or regulatory approvals were required for this specific incorporation step.

Strategic focus on footwear

The primary objective of establishing Mirza Global Limited is to consolidate and expand the group's presence in the footwear industry. The scope of work includes:

• Manufacturing of footwear products
• Retail and wholesale marketing
• E-commerce distribution channels

This move signals a dedicated operational vehicle for the footwear segment, separating it from other potential business lines within the broader corporate structure.

Key incorporation metrics

Mirza International reported a narrowed standalone net loss of ₹4.51 lakh for the quarter ended June 30, 2026, compared to a net profit of ₹17.67 lakh in the same period last year. The company’s total income from operations fell 12.4% year-on-year to ₹124.05 lakh, reflecting softer demand or pricing pressures in its core segments. Consolidated results mirrored this trend, with a net loss of ₹4.07 lakh against a prior-year profit of ₹17.81 lakh.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at meetings held on August 6, 2026. The company filed these unaudited standalone and consolidated financial results with the Bombay Stock Exchange and National Stock Exchange pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The advertisements were published in Business Standard newspapers on August 7, 2026.

Financial Performance

The decline in revenue was accompanied by a shift from profitability to loss-making operations for the quarter. In the previous quarter (Q4FY26), the company posted a standalone net loss of ₹11.69 lakh on revenue of ₹98.53 lakh. The Q1FY27 revenue of ₹124.05 lakh represents a sequential increase but remains below the ₹141.54 lakh recorded in Q1FY26.

The basic earnings per share (EPS) for the standalone entity stood at a loss of ₹0.33 per share, down from a profit of ₹1.28 per share in Q1FY26. Diluted EPS remained identical to basic EPS at ₹(0.33). For the consolidated entity, basic EPS was a loss of ₹0.29 per share, compared to ₹1.29 per share in the prior year.

What the Numbers Show

The data reveals a divergence between revenue trends and profitability across periods. While revenue increased sequentially from Q4FY26 to Q1FY27, it failed to restore profitability, indicating persistent margin pressures or higher operational costs relative to the top line. The consolidated revenue actually grew 4.1% year-on-year to ₹129.43 lakh, yet the consolidated net result swung to a loss of ₹4.07 lakh from a profit of ₹17.81 lakh. This suggests that while the group may be generating slightly more sales, the cost structure or exceptional items are eroding bottom-line performance more significantly than in the previous fiscal year. The equity share capital remained unchanged at ₹27.64 lakh.