Mirza International – consistent performer but undervalues at present?

Growth and Profit visualized over the years.

There was clearly a big leap in the last year or year and a half. What’s interesting is that the new level of performance has somewhat sustained. The TTM numbers continue to punch above the medians down to the last quarter.

Has someone tried to understand what were the main triggers?

My take;

1. Change of guard in Management
2. Debt reduction (PAT positive)
3. eCommerce Success
4. New Stores + Success in Franchising

Were there more that I may have missed? More importantly is this new level of performance here to stay?

Best!