Midwest
Midwest (MIDWESTLTD) share price was ₹1,130.70 at the 28 Oct 2026 close; market capitalisation ₹4,089 Cr; P/E (TTM) 36.19; sector Consumer Goods. The share price rose 6.6% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 34.8% year on year to ₹191.8 Cr and net profit rose 27.1% year on year to ₹31.0 Cr (compared with Jun 2025). Promoters held 77.12% of Midwest in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 47/100 (Average) as of 28 Oct 2026.
Key Fundamentals
MicrocapConsumer DurablesConsumer DiscretionaryPrice-based figures as of 28 Oct 2026, 15:31 IST · EPS basis: Consolidated · TTM
Peer Comparison
Consumer Discretionary › Consumer Goods › Granites & Marbles
| Midwest (this company) | ₹1,130.70 | 36.19 | 4,089 Cr | 4.27 | 0.00% | 10.88% | 13.72% | 711 Cr | 113 Cr |
|---|---|---|---|---|---|---|---|---|---|
| ₹666.05 | 21.76 | 2,065 Cr | 2.41 | 0.09% | 9.41% | 10.72% | 619 Cr | 95 Cr | |
| ₹63.00 | — | 138 Cr | 1.05 | 0.00% | -2.92% | 0.00% | — | — | |
| ₹24.99 | — | 106 Cr | 0.39 | 0.00% | -11.75% | -2.17% | 246 Cr | -31 Cr | |
| ₹160.10 | 14.96 | 47 Cr | 0.38 | 0.62% | 2.70% | 3.75% | 36 Cr | 3 Cr | |
| ₹12.60 | — | 46 Cr | — | 0.00% | 21.73% | 2.28% | 58 Cr | -13 Cr | |
| Median 6 companies | ₹111.55 | 21.76 | 122 Cr | 1.05 | 0.00% | 6.06% | 3.01% | 246 Cr | 3 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100. How it works →
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Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
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.
Technical Indicators
Oscillators
Bullish
Overall
Bullish
Moving Averages
Bullish
1 of 1 analyst rates Buy, 0 Hold, 0 Sell.
Updated 28 Oct 2026
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 25% · Jun 2026
AI Analysis — Bull vs Bear
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.
- 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
- 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
- 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.
Analyst Forecasts
Quarterly Results
| Particulars | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 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 (₹) | 4.4 | 4.18 | 13.95 | 6.86 | 8.22 | 5.06 | 9.83 | 8.13 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 380 | 525 | 503 | 586 | 626 | 646 | 695 |
| Expenses | 284 | 418 | 412 | 428 | 451 | 467 | 511 |
| Operating Profit | 96 | 108 | 91 | 158 | 175 | 179 | 184 |
| OPM % | 25% | 20% | 18% | 27% | 28% | 28% | 27% |
| Other Income | 12 | 13 | 19 | 12 | 40 | 10 | 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 (₹) | 7,643 | 8,584 | 7,279 | 999 | 38.27 | 29 | 31.24 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 209 |
| Total Liabilities | 502 | 604 | 656 | 757 | 1,056 | 1,364 |
| Fixed Assets | 206 | 232 | 255 | 254 | 307 | 424 |
| CWIP | 92 | 103 | 105 | 119 | 226 | 214 |
| Investments | 1 | 11 | 20 | 38 | 20 | 20 |
| Other Assets | 202 | 257 | 275 | 347 | 503 | 706 |
| Total Assets | 502 | 604 | 656 | 757 | 1,056 | 1,364 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 123 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 81 |
| ROCE % | — | 25% | 17% | 24% | 22% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Midwest insights
62 extracted metrics + investor summaries across FY21–FY27.
Documents
Frequently Asked Questions about Midwest
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Company Information
Incorporated in 1981, Midwest Ltd is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones.[1]
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