Midwest logo

Midwest

MIDWESTLTD NSE

Key Fundamentals

MicrocapGranites & MarblesConsumer Goods
Market Cap
₹3,737 Cr
Volatility
Moderate
P/E Ratio
32.54
EBITDA
₹174 Cr
Return on Equity
21.08%
Debt to Equity
0.2
Book Value
₹251.12
52W High
₹1,859.9
52W Low
₹1,026

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 11.2% over past five years.

Growth Rate

Revenue Growth
0.39% lower than 3Y
Net Income Growth
-23.56% lower than 3Y
Cash Flow Change
-31.74% lower than 3Y
ROE
4.88% lower than 3Y
ROCE
-5.53% lower than 3Y
EBITDA Margin (Avg.)
-9.95% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Midwest Ltd is a consumer discretionary company with a market cap of ₹4,702 Cr trading at a PE of 44.3x. The company has shown 25% compounded profit growth over 3 years but TTM sales growth has decelerated to 3%, and it pays no dividend despite consistent profitability.

Bull Case 7
  • Strong 3-year compounded profit growth of 25% indicates improving profitability and operational leverage
  • Company has actively reduced debt, strengthening its balance sheet and lowering financial risk
  • 5-year compounded profit growth of 13% demonstrates sustained earnings expansion over a longer horizon
  • 3-year ROE average of 17% reflects consistent ability to generate returns on shareholder equity
  • 5-year ROE average of 17% shows durable return generation capability over a medium-term period
  • 5-year compounded sales growth of 11% shows the business has been able to scale revenue over time
  • Price-to-book ratio of 5.19x suggests the market recognizes intangible value and growth potential beyond book assets
Bear Case 7
  • PE ratio of 44.3x is elevated for a consumer discretionary company with only 3% TTM sales growth, suggesting rich valuation relative to current momentum
  • TTM sales growth has sharply decelerated to just 3% compared to the 3-year CAGR of 9%, signaling a potential demand slowdown
  • Zero dividend yield despite repeated profitability means shareholders receive no income return on their investment
  • Last year ROE declined to 13% from the 3-year and 5-year average of 17%, indicating deteriorating capital efficiency
  • TTM profit growth of only 1% shows near-term earnings momentum has stalled significantly from the 25% 3-year CAGR
  • 5-year sales CAGR of only 11.2% is characterized as poor growth, and recent deceleration to 3% TTM worsens this concern
  • At 44.3x PE with 1% TTM profit growth, the PEG ratio is extremely stretched, implying the stock prices in growth that is not currently materializing

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Neutral 1
  • No encumbrance on promoter shares Jun 24

    Midwest Ltd confirmed no new encumbrance on promoter shares for FY ended Mar 31, 2026, filed under SEBI Regulation 31(4).

TL;DR: Limited recent news flow for Midwest Ltd with only a routine regulatory disclosure confirming no encumbrance on promoter shares for FY26. No material headwinds or positive catalysts are visible in the current news cycle. The lack of newsflow makes it difficult to assess directional trend; investors should watch for upcoming quarterly results or operational updates for clearer signals.

Quarterly Results

Particulars Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
141
117
230
142
159
129
216
192
Expenses
111
94
156
103
112
98
157
143
Operating Profit
31
23
75
39
47
31
58
49
OPM %
22%
20%
32%
27%
29%
24%
27%
25%
Other Income
4
6
2
4
2
5
3
6
Interest
2
3
3
4
4
5
2
4
Depreciation
6
6
8
7
7
9
8
9
PBT
27
20
66
33
38
22
51
42
Tax %
42%
28%
26%
26%
26%
23%
27%
26%
Net Profit
15
15
48
24
28
17
37
31
EPS in Rs
4.4
4.18
13.95
6.86
8.22
5.06
9.83
8.13
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
380
525
503
586
626
646
695
Expenses
284
418
412
428
451
471
511
Operating Profit
96
108
91
158
175
174
184
OPM %
25%
20%
18%
27%
28%
27%
27%
Other Income
12
13
19
12
40
14
16
Interest
7
10
10
10
11
14
14
Depreciation
18
18
22
22
26
31
33
PBT
83
93
79
138
178
144
153
Tax %
27%
28%
31%
27%
25%
26%
—
Net Profit
60
67
54
100
133
106
113
EPS in Rs
7,643
8,584
7,279
999
36.2
29
31.24
Div. Payout %
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.74
0.74
0.74
10
17
18
Reserves
277
345
409
485
602
944
Borrowings
103
98
151
124
242
192
Other Liabilities
122
160
95
138
195
212
Total Liabilities
502
604
656
757
1,056
1,367
Fixed Assets
206
232
255
254
307
567
CWIP
92
103
105
119
226
90
Investments
1
11
20
38
20
0
Other Assets
202
257
275
347
503
709
Total Assets
502
604
656
757
1,056
1,367
Figures in ₹ Crores

Cash Flow

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
67
143
-52
128
87
175
Investing
-40
-99
-17
-64
-201
-276
Financing
-27
-14
45
-50
102
150
Net Cash Flow
0
31
-25
14
-11
49
Free Cash Flow
26
87
-86
79
-94
48
CFO/OP
90
164
-35
105
65
126
Figures in ₹ Crores

Ratios

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
50
29
70
74
140
129
Inventory Days
—
—
—
417
—
—
Days Payable
—
—
—
242
—
—
Cash Conversion Cycle
50
29
70
249
140
129
Working Capital Days
-2
-30
30
43
83
85
ROCE %
—
25%
17%
24%
22%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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48 extracted metrics + investor summaries across FY21–FY26.

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Shareholding Pattern

Others1.24%Govt.0.11%Promot.77.12%Public3.19%FIIs3.88%DIIs14.45%As ofJun 2026
1.39% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Midwest

What does Midwest Ltd do?
Incorporated in 1981, Midwest Ltd is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones.[1]
Where is Midwest Ltd (MIDWESTLTD) listed?
Midwest Ltd trades as MIDWESTLTD on the NSE and under code 544587 on the BSE.
Which sector does Midwest Ltd belong to?
Midwest Ltd is classified under the Consumer Goods sector, in the Granites & Marbles industry.
What is the market capitalisation of Midwest Ltd?
Midwest Ltd has a market capitalisation of ₹3,737 Cr, which places it in the Small Cap band.
What is the PE ratio of Midwest Ltd?
Midwest Ltd trades at a PE ratio of 32.54, against a book value of ₹251.12 per share.
What is the 52-week high and low of Midwest Ltd?
Over the last 52 weeks Midwest Ltd has traded between ₹1,026 and ₹1,859.9.
What is the Return on Equity (ROE) of Midwest Ltd?
Midwest Ltd reported a return on equity of 21.08%. Its debt-to-equity ratio is 0.20.

Company Information

Incorporated in 1981, Midwest Ltd is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones.[1]

Website midwest.in
Listed 2025-10-24
Face Value ₹ 5
Issued Size 3,61,60,816

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