Price
Financials
Consolidated, Rs crore| 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 |
| Profit before tax | 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 | 4.40 | 4.18 | 13.95 | 6.86 | 8.22 | 5.06 | 9.83 | 8.13 |
| 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 |
| Profit before tax | 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 | 7,643.34 | 8,584.12 | 7,278.60 | 999.17 | 38.27 | 29.00 | 31.24 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 11% | 9% | 10% | ||
| Compounded Profit Growth | % | 13% | 26% | 12% | ||
| Stock Price CAGR | % | % | % | % | ||
| Return on Equity | % | 17% | 17% | 14% |
| 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 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 67 | 143 | -52 | 128 | 87 | 175 |
| Cash from Investing Activity | -40 | -99 | -17 | -64 | -201 | -276 |
| Cash from Financing Activity | -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% |
| 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% |
| Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|
| Promoters | 77.13% | 77.13% | 77.12% |
| FIIs | 4.70% | 4.37% | 3.88% |
| DIIs | 13.70% | 13.78% | 14.46% |
| Government | 0.00% | 0.00% | 0.11% |
| Public | 4.45% | 4.71% | 4.44% |
| No. of Shareholders | 20,025 | 21,086 | 20,204 |
Fundamentals
Market Cap₹ 3,164 Cr.
Current Price₹ 877
Stock P/E28.5
Book Value₹ 266
ROCE15.8 %
ROE13.6 %
Dividend Yield0.00 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)12%
Consolidated figures.
Valuation
Market capRs 3,262 Cr
Enterprise valueRs 3,296 Cr
P/E (TTM)28.00x
Price to book9.43x
Price to sales4.94x
EV / EBITDA16.13x
EV / EBIT18.95x
EV / sales4.99x
Price to cash flow22.76x
Earnings yield3.57%
Profitability
Operating margin (excl. other income)20.50%
Operating margin (incl. other income)23.02%
EBITDA margin30.96%
Pre-tax margin24.05%
Net profit margin17.65%
Net margin, latest quarter14.21%
ROE20.47%
ROCE25.06%
ROA11.54%
ROIC (approx.)32.91%
Tax rate28.08%
Other income / net worth3.82%
Growth
Sales growth (latest year)38.23%
Profit growth (latest year)12.31%
Sales growth QoQ-18.80%
Profit growth QoQ-34.09%
Sales growth YoY (latest quarter)10.02%
Profit growth YoY (latest quarter)29.40%
Per share
EPS (TTM)Rs 32.29
EPS (latest year)Rs 8,582.62
EPS (latest quarter)Rs 5.08
Book value per shareRs 95.92
Sales per shareRs 182.95
Cash flow per shareRs 39.72
Free cash flow per shareRs 13.30
Efficiency
Asset turnover0.87x
Fixed asset turnover2.26x
Inventory turnover6.13x
Inventory days60 days
Debtor days29 days
Debtors turnover12.61x
Creditor days242 days
Cash conversion cycle129 days
Working capital days81 days
Leverage
Total debtRs 98 Cr
Cash and bankRs 64 Cr
Net debtRs 34 Cr
Debt to equity0.28x
Net debt / EBITDA0.17x
Interest coverage11.43x
Current ratio (filing 2026-03-31)2.74x
Quick ratio (filing 2026-03-31)2.54x
Trade payables (filing 2026-03-31)Rs 71 Cr
Owners' fund to total sources57.31%
Debt to assets16.20%
Cash flow
Cash from Operating Activity (latest year)Rs 143 Cr
Cash from Investing Activity (latest year)Rs -99 Cr
Cash from Financing Activity (latest year)Rs -14 Cr
Net Cash Flow (latest year)Rs 31 Cr
Free cash flow (latest year)Rs 48 Cr
FCFE (approx.: FCF + change in debt)Rs 43 Cr
Cash from ops / profit, 5 years1.05x
Sales to cash flow3.67x
Statement figures
Net sales (TTM)Rs 660 Cr
Net sales (latest year)Rs 525 Cr
Sales (latest quarter)Rs 129 Cr
Operating profit excl. other income (latest year)Rs 108 Cr
Operating profit (latest quarter)Rs 31 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 204 Cr
PBDT (TTM)Rs 189 Cr
Profit before tax (TTM)Rs 159 Cr
Tax (latest year)Rs 26 Cr
Net profit (TTM)Rs 116 Cr
Net profit (latest year)Rs 64 Cr
Net profit (latest quarter)Rs 18 Cr
Depreciation (TTM)Rs 30 Cr
Depreciation (latest quarter)Rs 9 Cr
Interest (TTM)Rs 15 Cr
Cost of goods sold (latest year)Rs 313 Cr
Total expenditure (latest year)Rs 418 Cr
Total income (latest year)Rs 538 Cr
Share capitalRs 1 Cr
ReservesRs 345 Cr
Shareholders' fundsRs 346 Cr
Total assetsRs 604 Cr
Net blockRs 232 Cr
Capital work in progressRs 103 Cr
InvestmentsRs 11 Cr
ReceivablesRs 42 Cr
InventoryRs 51 Cr
Other liabilitiesRs 160 Cr
Shares outstanding (crore)3.61
Ownership
Promoter holding77.12%
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MIDWESTLTD | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.1% | -2.8% | -1.3 pts |
| 1 month | -14.6% | -6.8% | -7.8 pts |
| 3 months | -31.0% | -7.6% | -23.3 pts |
| 6 months | -21.2% | +0.4% | -21.6 pts |
11 mutual fund schemes hold about ₹281 Cr.
Over three months 10 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Axis Small Cap Fund | 0.20% | 62 | +18% |
| Kotak Consumption Fund | 2.84% | 49 | +26% |
| Kotak Special Opportunities Fund | 2.79% | 47 | +9% |
| Kotak ELSS Tax Saver Fund | 0.64% | 41 | +23% |
| Kotak MNC Fund | 1.11% | 26 | +20% |
| ITI Mid Cap Fund | 1.04% | 16 | +19% |
| ITI Multi Cap Fund | 0.99% | 15 | +21% |
| Edelweiss Recently Listed IPO Fund | 0.94% | 12 | +12% |
| Axis Multi Asset Allocation Fund(M | 0.36% | 9 | +22% |
| ITI Value Fund | 0.80% | 3 | +25% |
| Motilal Oswal BSE 1000 Index Fund | 0.00% | 0 |
Red flags
F-score 6 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹192 Cr +35.2% vs Jun 2025.
Net profit ₹31 Cr +29.2%.
Activity
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|---|---|---|---|
| Pokarna Ltd | 2,226 | 23.4 | 11.5 % |
| Esprit Stones Ltd | 143 | -0.25 % | |
| Global Surfaces Ltd | 128 | -1.69 % | |
| Pacific Industries Ltd | 91 | 33.0 | 1.09 % |
| Elegant Marbles and Grani Industries Ltd | 52 | 16.7 | 3.77 % |
| Royal Cushion Vinyl Products Ltd | 47 | -0.17 % | |
| Oriental Trimex Ltd | 36 | 14.3 | 3.84 % |
| Aro Granite Industries Ltd | 35 | 0.57 % | |
| Madhav Marbles and Granites Ltd | 32 | -0.73 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Midwest Ltd?
Midwest Ltd (MIDWESTLTD) has a market capitalisation of Rs 3,164 Cr. at the 2026-10-01 close.
What is the P/E ratio of Midwest Ltd?
Midwest Ltd trades at a P/E of 28.5 on trailing twelve-month profit, at the 2026-10-01 close.
What were Midwest Ltd's latest quarterly results?
In the Jun 2026 quarter, Midwest Ltd sales was Rs 192 Cr (+35.2% vs Jun 2025) and net profit was Rs 31 Cr.
What is the 52-week high and low of Midwest Ltd?
The 52-week high is Rs 1,859.90 and the 52-week low is Rs 869.00.