Approval of Audited Standalone and Consolidated Financial Results for the quarter ended March 31, 2026
MIRZAINT · price
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Mirza International Ltd reported FY26 standalone revenue of ₹51,623 lakh (down from ₹56,958 lakh in FY25), marking a ~9.4% revenue decline. The company achieved a turnaround with standalone PAT of ₹213 lakh vs loss of ₹399 lakh in prior year. However, consolidated PAT remained negative at ₹(57) lakh. The tannery segment posted significant losses of ₹1,010 lakh. An exceptional gain of ₹1,861 lakh was recorded from lease contract termination under Ind AS 116. The income tax department conducted a search operation in September 2025, though no material impact has been ascertained. Auditors issued an unmodified opinion but highlighted the IT search as a Key Audit Matter. The amalgamation of subsidiary RTS Fashion Limited became effective from April 1, 2025.
Revenue decline is concerning though the company returned to profit on standalone basis. The ongoing income tax search proceedings and negative consolidated PAT create uncertainty. The tannery segment's losses need monitoring.