Midwest Ltd
Incorporated in 1981, Midwest Ltd is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones.[1]
- Market Cap ₹ 4,368 Cr.
- Current Price ₹ 1,210
- High / Low ₹ 1,320 / 1,048
- Stock P/E 47.3
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE %
- ROE %
- Face Value ₹ 5.00
Pros
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Granites & Marbles
Part of BSE IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | |
|---|---|---|---|---|
| 220 | 330 | 310 | 370 | |
| 163 | 252 | 245 | 260 | |
| Operating Profit | 57 | 78 | 65 | 109 |
| OPM % | 26% | 24% | 21% | 30% |
| 13 | 9 | 18 | 35 | |
| Interest | 5 | 6 | 7 | 8 |
| Depreciation | 15 | 13 | 15 | 18 |
| Profit before tax | 51 | 68 | 61 | 119 |
| Tax % | 27% | 25% | 26% | 25% |
| 37 | 51 | 45 | 88 | |
| EPS in Rs | 5,000.00 | 6,853.30 | 6,086.14 | 26.16 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| 3 Years: | 4% |
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| 3 Years: | 20% |
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Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 0.74 | 0.74 | 0.74 | 17 |
| Reserves | 249 | 300 | 345 | 519 |
| 61 | 58 | 85 | 105 | |
| 67 | 103 | 52 | 105 | |
| Total Liabilities | 377 | 462 | 483 | 746 |
| 168 | 178 | 195 | 230 | |
| CWIP | 6 | 12 | 4 | 26 |
| Investments | 69 | 79 | 90 | 92 |
| 134 | 193 | 194 | 398 | |
| Total Assets | 377 | 462 | 483 | 746 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | |
|---|---|---|---|---|
| 55 | 88 | -19 | ||
| -37 | -78 | -5 | ||
| -17 | -8 | 21 | ||
| Net Cash Flow | 1 | 2 | -3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 28 | 31 | 55 | |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 28 | 31 | 55 | |
| Working Capital Days | 10 | 0 | 66 | |
| ROCE % | 22% | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
48m - Transcript of Midwest's Nov 13, 2025 Q2/H1 FY26 earnings call; IPO INR250 crore, Phase‑2 capex, CRISIL upgrade
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Nov - Submission of Newspaper Publication pertaining to the Unaudited (Standalone and Consolidated) Financial Results for the quarter and half year ended September 30, 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
14 Nov - Investor Presentation for the quarter and half year ended September 30, 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Audio recording of Q2/H1 FY26 earnings conference call uploaded on Nov 13, 2025.
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Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2025.
13 Nov - Board approved unaudited standalone and consolidated results for quarter/half year ended Sep 30, 2025; IPO listed Oct 24, 2025.
Concalls
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Nov 2025Transcript PPT
Business Profile[1]
Midwest Limited is a vertically integrated natural stone and mining company, dominant in Black Galaxy and Absolute Black Granite, with diversified operations across Granite, Diamond Wire, Quartz, and emerging Heavy Mineral Sands.