Mirza International Limited returned to profitability in the financial year ended March 31, 2026, reporting a standalone net profit of ₹213.09 lakh compared to a net loss of ₹398.81 lakh in the previous year. The turnaround was driven by exceptional items amounting to ₹1861.45 lakh recorded during the year. Revenue from operations for the year declined to ₹51622.69 lakh from ₹56958.40 lakh in FY25, while total income stood at ₹51730.91 lakh.

For the quarter ended March 31, 2026, the company reported a net loss of ₹1169.05 lakh, widening from a loss of ₹50.43 lakh in the same period last year. Revenue from operations for the quarter dropped to ₹9797.98 lakh from ₹12046.54 lakh in Q4FY25. On a consolidated basis, the company reported a net loss of ₹57.08 lakh for FY26, an improvement from the net loss of ₹354.38 lakh in the previous year. Consolidated revenue from operations for the year was ₹52723.18 lakh, down from ₹58122.71 lakh in FY25.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at its meeting held on May 29, 2026. The statutory auditors, Saxena Roongta and Associates, issued an unmodified opinion on the standalone and consolidated financial results. The financial statements were prepared in compliance with Indian Accounting Standards (Ind-AS) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company's footwear segment generated revenue of ₹44477.59 lakh for the year, while the tannery segment contributed ₹11140.47 lakh. Total expenses for the year increased to ₹53329.28 lakh from ₹57498.33 lakh in the previous year. Finance costs decreased significantly to ₹674.02 lakh in FY26 from ₹902.22 lakh in FY25.

Key Developments

The Income Tax Department conducted a search operation under Section 132 of the Income Tax Act, 1961, at the company's premises in September 2025. The company stated it has not received any written communication regarding the outcome of the search and believes there is no material adverse impact on its financial position. Additionally, the Scheme of Amalgamation of RTS Fashion Limited with Mirza International Limited became effective on May 1, 2026, with an appointed date of April 1, 2025.

Mirza International Limited has appointed Mr. Aqeel Ahmad Khan as Whole-time Director and Mr. Anil Kumar Mahipal as Chief Financial Officer effective June 1, 2026, following a Board meeting on May 29, 2026. The company also approved the re-appointment of four directors, including Managing Director Mr. Tauseef Ahmad Mirza, for three-year terms subject to shareholder approval. These leadership changes are aimed at strengthening the company's operational governance and financial oversight as it continues its expansion in the leather industry.

The Board approved the appointment of Mr. Aqeel Ahmad Khan as Whole-time Director for a period of three years starting June 1, 2026. Mr. Khan brings 17 years of experience in industrial relations and statutory compliance, having worked with government institutions such as the Pollution Control Board and District Industries Centre. Concurrently, Mr. Anil Kumar Mahipal was appointed Chief Financial Officer. A Chartered Accountant with over 14 years of experience, Mr. Mahipal has been with the company since February 2024 as General Manager – Accounts and Taxation.

The Board approved the re-appointment of three Whole-time Directors and the Managing Director. Mr. Faraz Mirza was re-appointed as Whole-time Director for three years effective August 12, 2026. He currently oversees overseas marketing, production, and e-commerce operations for the Thomas Crick brand. Mr. Tauseef Ahmad Mirza was re-appointed as Managing Director for three years effective October 1, 2026, bringing over three decades of experience in the leather industry. Mr. Tasneef Ahmad Mirza and Mr. Shahid Ahmad Mirza were also re-appointed as Whole-time Directors for three years effective October 1, 2026, overseeing the Tannery Division and Shoe Division respectively.

The company disclosed relationships among the directors, stating that Mr. Faraz Mirza is the son of Mr. Shahid Ahmad Mirza. Furthermore, Mr. Shahid Ahmad Mirza, Mr. Tasneef Ahmad Mirza, and Mr. Tauseef Ahmad Mirza are brothers. All appointees confirmed they are not debarred from holding the office of Director by SEBI or any other authority.

In addition to leadership changes, the Board re-appointed statutory auditors for the financial year 2026-27. Mr. Arun Kumar Srivastava was re-appointed as Cost Auditor, and Mr. Prakhar Pratap Singh was re-appointed as Internal Auditor. These appointments are subject to the ratification of remuneration by the company's members.