---
title: "Midwest Energy Ltd (526570) — Share Price, Financials & Analysis"
symbol: "526570"
company: "Midwest Energy Ltd"
canonical: "https://tapetide.com/stocks/526570"
isin: "INE519N01014"
nse_symbol: "MIDWESTGOLDLTD"
bse_code: "526570"
sector: "Construction"
industry: "Construction Materials"
market_cap_cr: 4734.84
generated_at: "2026-09-13T19:44:48.890Z"
---

# Midwest Energy Ltd (526570)

Canonical page: https://tapetide.com/stocks/526570

## Company

- **NSE Symbol:** MIDWESTGOLDLTD
- **BSE Code:** 526570
- **ISIN:** INE519N01014
- **Sector:** Construction
- **Industry:** Construction Materials
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** midwestgoldltd.com

## About

Incorporated in 1990, Midwest Gold 
Ltd processing and trading business 
of Granite, Marble and other natural 
stone[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:48:51.621992Z.

- **Market Cap:** ₹4734.84 Cr
- **Classification:** Microcap
- **P/E (reported):** -430.6
- **EPS (TTM):** ₹-9.06
- **EPS (reported):** ₹0
- **Book Value:** ₹320.21
- **Price to Book:** 11.66
- **Dividend Yield:** 0%
- **ROE:** -7.62%
- **ROCE:** -2.68%
- **Debt to Equity:** 0.75
- **Revenue (yearly):** ₹8.66 Cr
- **Net Income:** ₹-14.01 Cr
- **EBITDA:** ₹-10 Cr
- **52-Week High:** ₹5900
- **52-Week Low:** ₹1824.05
- **RSI (14):** 44.26

## Tapetide Score

- **Score:** 37 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 8.7 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 40.13 | 9% |
| growth | 98.9 | 9% |
| momentum | 30.13 | 12% |
| ownership | 60.1 | 24% |
| quality | 17.4 | 22% |
| valuation | 15.31 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 11.6 times its book value
- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost
- Company has high debtors of 299 days.
- Promoter holding has decreased over last 3 years: -13.6%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -419.39% | -308.85% | -637.64% |
| ebitda margin growth | 157.14% | -72.23% | — | — |
| net income growth | 71.43% | 106.03% | — | — |
| revenue growth | 14.49% | 687.27% | — | — |
| roce | -109.15% | — | — | — |
| roe | -70.43% | — | — | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 0.49 | 1.2 | 1.2 | 5.76 | 6.24 |
| Expenses | 3.21 | 3.24 | 3.22 | 8.98 | 6.7 |
| Operating Profit | -2.72 | -2.04 | -2.02 | -3.22 | -0.46 |
| OPM % | -555.1 | -170 | -168.33 | -55.9 | -7.37 |
| Other Income | 0.3 | 0.21 | 0.23 | 1.13 | 1.67 |
| Interest | 0.66 | 0.84 | 0.59 | 0.5 | 1.29 |
| Depreciation | 0.7 | 0.85 | 0.87 | 0.86 | 0.94 |
| Profit before tax | -3.78 | -3.52 | -3.25 | -3.45 | -1.02 |
| Tax % | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -3.78 | -3.53 | -3.25 | -3.45 | -1.02 |
| EPS in Rs | -3.13 | -2.9 | -2.7 | -2.67 | -0.79 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- |
| Sales | 1 | 9 | 14 |
| Expenses | 5 | 19 | 22 |
| Operating Profit | -4 | -10 | -8 |
| OPM % | -533 | -115 | -54 |
| Other Income | 0 | 2 | 3 |
| Interest | 2 | 3 | 3 |
| Depreciation | 1 | 3 | 4 |
| Profit before tax | -7 | -14 | -11 |
| Tax % | 0 | 0 | — |
| Net Profit | -7 | -14 | -11 |
| EPS in Rs | -5.07 | -10.86 | -9.06 |
| Dividend Payout % | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Equity Capital | 11 | 13 |
| Reserves | 78 | 388 |
| Borrowings | 106 | 302 |
| Other Liabilities | 10 | 12 |
| Total Liabilities | 205 | 714 |
| Fixed Assets | 31 | 141 |
| CWIP | 76 | 164 |
| Investments | 0 | 2 |
| Other Assets | 98 | 408 |
| Total Assets | 205 | 714 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Cash from Operating Activity | -33 | -10 |
| Cash from Investing Activity | -84 | -422 |
| Cash from Financing Activity | 156 | 520 |
| Net Cash Flow | 39 | 87 |
| Free Cash Flow | -116 | -214 |
| CFO/OP | 798 | 98 |

### Ratios

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Debtor Days | 295 | 299 |
| Inventory Days | 879 | 2449 |
| Days Payable | 820 | 72 |
| Cash Conversion Cycle | 353 | 2675 |
| Working Capital Days | -744 | -3293 |
| ROCE % | — | -3 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.03% | 72.03% | 72.03% | 72.03% | 72.03% | 72.03% | 63.15% | 63.15% | 63.15% | 57.91% | 58.78% | 58.45% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 6.62% | 6.72% | 6.78% | 11.7% | 12.02% | 12.63% |
| DIIs | 0.63% | 0.3% | 0.63% | 0.63% | 0.63% | 0.63% | 1.86% | 1.86% | 1.86% | 1.7% | 1.59% | 1.58% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 25.55% | 25.52% | 25.52% | 25.52% | 25.54% | 25.49% | 21.11% | 21.02% | 20.96% | 22.49% | 22.05% | 21.96% |
| Others | 1.79% | 2.15% | 1.82% | 1.82% | 1.8% | 1.85% | 7.27% | 7.25% | 7.26% | 6.2% | 5.55% | 5.38% |
| No. of Shareholders | 6795 | 6796 | 6788 | 6773 | 6754 | 6734 | 6802 | 6822 | 7573 | 9066 | 8868 | 8825 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 3828.93 | Sell |
| EMA (10) | 3766.04 | Sell |
| SMA (20) | 3810.64 | Sell |
| EMA (20) | 3763.78 | Sell |
| SMA (50) | 3736.35 | Sell |
| EMA (50) | 3801.43 | Sell |
| SMA (100) | 3973.52 | Sell |
| EMA (100) | 3905.03 | Sell |
| SMA (200) | 4221.57 | Sell |
| EMA (200) | 3685.45 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.13 | Neutral |
| MACD (12,26,9) | 11.29 | Sell |
| Stochastic (14,3,3) | 19.93 | Buy |
| ADX (14) | 16.33 | Neutral |
| Williams %R (14) | -92.83 | Buy |
| ATR (14) | 181.63 | High Volatility |
| ROC (12) | -10.59 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 58.02 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Apr - Board allotted 73,500 shares at ₹2,000 each on 8 Apr 2026, raising paid-up capital to 1,29,72,196 shares. | [Board Meeting Outcome for Allotment Of Equity Shares 8 Apr - Board allotted 73,500 shares at ₹2,000 each on 8 Apr 2026, raising paid-up capital to 1,29,72,196 shares.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0de28402-df6f-472d-a92d-9083a7e6c784.pdf) |
| 6 Feb - Postal ballot to appoint directors and change name to Eros Media Technologies; e-voting Feb 8–Mar 9; results by Mar 11. | [Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 6 Feb - Postal ballot to appoint directors and change name to Eros Media Technologies; e-voting Feb 8–Mar 9; results by Mar 11.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b87c2455-393d-45d0-817d-2efb586bda9d.pdf) |
| 6 Feb - Board meeting on Feb 13, 2026 to approve Q3/9M Dec 31, 2025 results; trading window closed until Feb 15, 2026. | [Board Meeting Intimation for Considering And Approval Of Un-Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31, 2025 And Any Other Matter With Permission Of The Chair. 6 Feb - Board meeting on Feb 13, 2026 to approve Q3/9M Dec 31, 2025 results; trading window closed until Feb 15, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9d3f298-dd84-406e-82c5-1ca12c2fdaf4.pdf) |
| 6 Apr - Subsidiary commenced trial production at lithium battery assembly line and BESS platform on April 6, 2026. | [Disclosure Under Regulation 30 Of The SEBI (Listing Regulations) 2015. 6 Apr - Subsidiary commenced trial production at lithium battery assembly line and BESS platform on April 6, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1da58143-3700-47fd-aba5-e21d56c4fa9c.pdf) |
| 6 Apr - MCA approved amalgamation of Midwest Energy Private Limited into Midwest Gold on 26 March 2026. | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement 6 Apr - MCA approved amalgamation of Midwest Energy Private Limited into Midwest Gold on 26 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a2e5450d-cb18-43b6-b10f-846e848e01a9.pdf) |
| 30 Mar - Allotment of 4,00,000 shares @Rs2,000 to promoters; proceeds Rs80 crore; effective 30 Mar 2026. | [Board Meeting Outcome for Allotment Of Equity Shares 30 Mar - Allotment of 4,00,000 shares @Rs2,000 to promoters; proceeds Rs80 crore; effective 30 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ad49afa3-56e3-4f67-a302-cb53370c22e6.pdf) |
| 29 Mar - Allotment of 4,50,750 shares at Rs2,000 each; proceeds Rs90.15 crore; paid-up shares now 1,24,98,696. | [Board Meeting Outcome for Allotment Of Equity Shares On Preferential Basis 29 Mar - Allotment of 4,50,750 shares at Rs2,000 each; proceeds Rs90.15 crore; paid-up shares now 1,24,98,696.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ed958a8e-d8a9-44f9-bbe0-431d4c05fd2e.pdf) |
| 19 Feb - Clippings of the extract of the Un-audited Financial Results for the Quarter and Nine months ended 31st December, 2025 published in Free Press Journal dated … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Feb - Clippings of the extract of the Un-audited Financial Results for the Quarter and Nine months ended 31st December, 2025 published in Free Press Journal dated …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1a8b27a7-d41b-4fb2-b18b-6314700ebfd4.pdf) |
| 19 Feb - Clippings of the extract of the Un-audited Financial Results for the quarter and nine months ended 31st December, 2025 published in Free Press Journal dated … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Feb - Clippings of the extract of the Un-audited Financial Results for the quarter and nine months ended 31st December, 2025 published in Free Press Journal dated …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/316b3ce3-8458-49a0-b637-757f95b960fa.pdf) |
| 19 Feb - Approved preferential issue up to 10,00,000 shares at Rs2,000 each (Rs200 crore); EGM fixed 14 March 2026. | [Board Meeting Outcome for Outcome Of The Board Meeting 19 Feb - Approved preferential issue up to 10,00,000 shares at Rs2,000 each (Rs200 crore); EGM fixed 14 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3bd7cdb6-ddda-4166-be4f-521cf1b7aa8d.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb2bc3e1-230d-4180-b418-08fea484d3ad.pdf) |
| 2026-09-10 | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=88539cee-7528-457f-b5cf-89252d47b4e3.pdf) |
| 2026-09-10 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dec72621-f68b-4d86-8b1d-8cca68962599.pdf) |
| 2026-09-08 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=95b091fa-b19a-445a-b2a3-43fc2886994f.pdf) |
| 2026-09-08 | [Notice Of 36Th Annual General Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4bca9d22-116d-4bfe-b9fa-8af8b698a93e.pdf) |
| 2026-09-07 | [Board Meeting Outcome for Held On September 07 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea9ca680-638e-4b57-9c65-d770f066ad15.pdf) |
| 2026-08-14 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c14681ad-740f-480c-a805-202cd8eea6c8.pdf) |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6e1eed16-030d-4b8b-a2f0-09cca6c5a8f7.pdf) |
| 2026-08-10 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7ac7d614-6425-4eaf-86ae-8b3d4c6222d6.pdf) |
| 2026-08-10 | [Board Meeting Outcome for Meeting Held On August 10 2026 For Approval Of Financial Results For The Quarter Ended 30Th June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0ec9506-d85c-48fd-b472-ed46ab1f1550.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-10 | [Results-Financial Results For June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1d6fb3b4-9bfe-43cd-a80b-94ea197f6ca7.pdf) |
| 2026-06-12 | [Audited Financial Results(Standalone And Consolidated) For The Quarter And Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f3806af-2a2e-4517-98ad-6bf517f890af.pdf) |
| 2026-05-30 | [Audited Financial Results For The Quarter And Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6b04374d-3249-484c-940c-9f780735376c.pdf) |
| 2026-02-10 | [Un-Audited (Standalone And Consolidated) Financial Results For The Quarter And Half Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=059b78c8-9057-4edf-a54c-e51e8b8982a6.pdf) |
| 2025-11-08 | [Un-Audited (Standalone And Consolidated) Financial Results For The Quarter And Half Year Ended September 30 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0d69e4cb-b656-4af5-94cb-2a80c168e55c.pdf) |
| 2025-08-13 | [Unaudited (Standalone & Consolidated) Financial Results For The Quarter Ended June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5fc4ae31-0383-4dc3-bdec-1f74149a4264.pdf) |
| 2025-05-29 | [Audited (Standalone & Consolidated) Financial Results For The Quarter And Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d62e91f2-f1da-43cf-9b7e-f812fb0b00da.pdf) |
| 2025-02-12 | [Unaudited Financial Results For The Quarter And Nine Months Ended December 31 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ec9379d0-ff55-437d-af51-c99fea1f17dc.pdf) |
| 2024-11-05 | [Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7ed00c44-c82b-4690-88f9-9cf11a572241.pdf) |
| 2024-08-13 | [Unaudited Financial Results For The Quarter Ended June 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f17c4c44-c76b-456a-a40b-965dabc45294.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_869_EROSMEDIA_2012_2013_06082013111745.zip) |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_EROSMEDIA_2011_2012_17092012110209.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4b5edfc8-7460-4ab5-b829-15508adebfad.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/38c848fa-9654-46c8-92e6-3b63ed695569.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f1d64e76-8027-44af-b8e0-09311ae24d1a.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f89188e9-a430-48b7-b4bd-e033c9c83527.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/790e9589-c7d2-49e3-a6cd-614037e9fc8e.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/533261/75790533261.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/526570/76115526570.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/533261/71774533261_18_09_21.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2016 | [Concall - Sep 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9DE118CD_8F82_4867_9FAA_0F2DFAEC4AED_184336.pdf) |
| May 2016 | [Concall - May 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=AB5BA4BA_D529_4865_BD6D_D0323C63AA09_165829.pdf) |
| Feb 2017 | [Concall - Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8E18471F_64EC_4A2A_ACFE_CE20371A0EDC_194945.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:44:48.890Z.