Mirza International , a prominent player in the Indian footwear and leather industry, has recently been subject to a search and seizure operation conducted by the Income Tax Department. The company disclosed this information in a regulatory filing to the stock exchanges on September 16, 2025.

Details of the Operation

According to the company's statement, the Income Tax Department carried out the search and seizure operation at certain premises, including Mirza International's Registered Office. The operation lasted for six days, commencing on September 11, 2025, and concluding on September 16, 2025.

Company's Response

Mirza International has assured stakeholders that it provided full cooperation to the officials throughout the proceedings. The company stated that it responded to all clarifications and details sought by the Income Tax Department during the operation. Furthermore, Mirza International has expressed its willingness to continue providing any further clarification or information that may be required by the authorities.

Impact on Business Operations

In its communication to the stock exchanges, Mirza International emphasized that its business operations remained unaffected during the search and seizure operation. The company assured that normal business activities continued as usual throughout the six-day period.

Regulatory Compliance

The disclosure of this information aligns with Mirza International's obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has committed to complying with its legal obligations for disclosure from time to time, ensuring transparency with its stakeholders.

Management Statement

Harshita Nagar, Company Secretary & Compliance Officer of Mirza International, signed the regulatory filing, confirming the details of the Income Tax Department's operation and the company's cooperation.

As the situation develops, investors and stakeholders will likely be watching closely for any further updates or implications resulting from this Income Tax Department action. Mirza International has stated it will continue to provide information as required, maintaining open communication with the market and regulatory bodies.

Mirza International Limited , a prominent player in the footwear and tannery industry, has reported a substantial increase in profit for the first quarter, primarily driven by exceptional items. The company's financial results, approved by the Board of Directors on August 2, reveal a mixed performance with strong bottom-line growth despite modest top-line expansion.

Financial Highlights

• Revenue Growth: Standalone revenue from operations increased to Rs. 141.42 crore, up from Rs. 137.12 crore in the same quarter last year, marking a 3.14% growth.
• Profit Surge: Standalone profit for the period skyrocketed to Rs. 17.67 crore, compared to Rs. 1.10 crore in the corresponding quarter, representing a remarkable 1,511% increase.
• Exceptional Items: The company reported exceptional items worth Rs. 18.61 crore, which significantly boosted the profit figures.
• Earnings Per Share: Basic and diluted EPS improved to Rs. 1.28, up from Rs. 0.08 in the corresponding quarter.

Segment Performance

Mirza International operates through two main segments:

1. Footwear (Domestic & Export):

   • Revenue: Rs. 120.48 crore
   • Segment Results: Rs. 6.87 crore profit before interest & tax

2. Tannery (Domestic & Export):

   • Revenue: Rs. 45.97 crore
   • Segment Results: Rs. 0.39 crore profit before interest & tax

Consolidated Results

On a consolidated basis, the company's performance mirrored its standalone results:

• Revenue from operations: Rs. 142.11 crore
• Profit for the period: Rs. 17.81 crore
• Basic and diluted EPS: Rs. 1.29

Key Financial Metrics

Management Commentary

The company's management attributes the significant profit growth to exceptional items, which contributed Rs. 18.61 crore to the bottom line. While the nature of these exceptional items was not specified in the financial results, they played a crucial role in boosting the company's profitability for the quarter.

Corporate Actions

Mirza International's Board of Directors has approved a scheme of amalgamation of RTS Fashion Limited (a foreign subsidiary based in Dubai) with Mirza International Limited, subject to necessary approvals. This strategic move is expected to streamline operations and potentially create synergies within the group.

Outlook

While Mirza International has shown impressive profit growth, it's important to note that this was largely due to exceptional items. The modest revenue growth suggests that the company may face challenges in its core operations. The company's ability to maintain profitability without the boost from exceptional items and its strategies to drive revenue growth in both domestic and export markets will be key factors to monitor in the future.