Midwest Ltd.

•

midwest.inBSE: 544587NSE: MIDWESTLTD

Market Cap₹ 3,855 Cr.

Current Price

High / Low₹ 1,860 / 1,026

Stock P/E34.7

Book Value₹ 260

Price to Book3.91

Dividend Yield0.00 %

ROCE27.8 %

ROE26.8 %

Face Value₹ 5

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ABOUT

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company has delivered good profit growth of 52.1% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 25.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.2%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 19.5% CAGR over last 5 years
Latest quarter profit grew 27.3% YoY, showing strong momentum

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.57x)
Total debt has risen sharply - up 96.4% year on year
Debtor days have increased from 67 to 105
Growth is decelerating - 3Y profit CAGR (25.7%) trails the 5Y trend (52.1%)
Though reporting repeated profits, the company pays out little dividend (0.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesConstruction MaterialsCeramics/Marble/Granite/Sanitaryware

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	KAJARIACER	1244.00	35.81	19548.60	1.13	171.03	55.04	1328.08	20.43	23.07	19.69
2.	CERA	5607.95	29.40	7232.88	1.34	47.05	-0.86	422.19	5.36	19.41	13.05
3.	MIDWESTLTD	1066.05	34.72	3854.92	0.00	310.39	1173.13	1918.39	1248.46	27.81	25.47
4.	POKARNA	780.50	25.50	2419.86	0.08	42.60	50.56	189.42	10.79	11.85	35.89
5.	NITCO	95.18	0.00	2404.02	0.00	-10.33	-121.77	116.02	-22.48	6.58	-7.07
6.	SOMANYCERA	559.15	21.56	2293.23	1.07	34.23	365.71	749.56	24.62	14.43	11.50
7.	ASIANTILES	50.11	117.89	1485.64	0.00	8.07	11.48	530.95	36.76	2.97	6.19
8.	ORIENTBELL	410.00	28.57	603.33	0.24	8.32	2318.40	203.82	43.44	5.56	8.02
9.	EXXARO	6.42	70.14	287.24	0.00	2.07	156.24	85.22	31.25	3.69	8.18
10.	MURUDCERA	29.96	18.74	181.39	0.00	0.81	-58.06	50.09	8.54	5.23	19.10
11.	GSLSU	27.22	12.61	115.36	0.00	0.06	111.19	65.42	-12.19	-2.15	12.74
12.	PACIFICI	146.95	36.79	101.29	0.00	1.69	82.31	63.92	28.72	1.09	4.45

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	141	117	230	142	159	129	216	192
	113	94	156	114	116	98	157	156
Operating Profit	28	23	75	29	43	31	58	36
OPM %	20.01%	19.95%	32.43%	20.15%	27.08%	23.71%	27.03%	18.83%
	4	6	2	4	2	5	3	6
Interest	0	3	3	4	0	5	2	4
Depreciation	6	6	8	7	7	9	8	9
Profit before Tax	27	20	66	33	38	22	51	42
Tax %	42.19%	27.78%	26.23%	25.82%	26.38%	22.84%	27.01%	26.19%
Net Profit	0	0	0	24	28	17	37	31
	4.56	4.29	14.33	7.21	8.19	4.87	10.24	8.58

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	257	380	525	503	586	626	695
	215	286	419	412	434	454	527
Operating Profit	43	94	107	90	152	172	168
OPM %	16.56%	24.76%	20.30%	17.93%	25.94%	27.51%	24.16%
	4	14	14	20	18	43	16
Interest	8	7	10	10	10	11	10
Depreciation	18	18	18	22	22	26	33
Profit before Tax	21	83	93	79	138	178	153
Tax %	22.01%	27.33%	28.09%	30.83%	27.20%	25.12%	26.02%
Net Profit	16	60	67	54	100	133	113
EPS	1793.88	6770.45	19.84	16.10	999.16	36.20	—
Dividend Payout %	0.00%	0.00%	0.00%	24.73%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 19%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 50%
3 Years:: 24%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: 23%
3 Years:: 23%
Last Year:: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	1	1	10	17
Minority Interest	-1	6	6	2	5	13
	234	276	343	405	480	598
	116	103	99	151	114	223
Trade Payables	9	9	20	21	22	50
	108	105	147	94	124	151
Total Liabilities	467	499	616	673	754	1,051
	193	206	232	255	254	307
Capital Work in Progress	6	7	10	2	13	116
	1	1	11	20	38	20
	43	60	51	57	37	28
	0	0	0	0	119	240
Cash & Bank	7	7	64	13	28	17
	217	217	249	325	265	324
Total Assets	467	499	616	673	754	1,051

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	54	86	177	-32	128	87
Cash from Investing	-39	-40	-99	-17	-64	-201
Cash from Financing	-2	-27	-14	45	-50	102
	3	-0	31	-25	14	-11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Oct 2025	Dec 2025	Mar 2026	Jun 2026
	77.13	77.13	77.13	77.12
	2.11	4.70	4.37	3.88
	12.53	13.70	13.78	14.46
Government	0.00	0.00	0.00	0.00
Public	8.25	4.46	4.71	4.44

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Updates

2026-09-08 - Midwest Limited has informed the Exchange regarding '' Compliance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Midwest Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-07

Shareholders meeting

2026-09-07 - Midwest Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Midwest Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Bagging/Receiving of orders/contracts

2026-08-31 - Midwest Limited has informed the Exchange about the acceptance of the Letter(s) of Intent (LOI) for working of quarry leases in Andhra Pradesh on Raising-Cum-Sale Contract basis issued by The Andhra Pradesh Mineral Development Corporation Ltd. (APMDC).

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - Midwest Limited has informed the Exchange about Transcript

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Midwest Limited has informed the Exchange about Link of Recording of the Q1 FY27 Earnings Call

2026-08-13

Investor Presentation

2026-08-13 - Midwest Limited has informed the Exchange about Investor Presentation

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Midwest Limited has informed the Exchange about Copy of Newspaper Publication with respect to unaudited financial results for the quarter ended June 30, 2026.

News

Recent coverage and analyst commentary for MIDWESTLTD

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Midwest Ltd.

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Free 5nance Account

Name

KAJARIACER

1244.00

35.81

19548.60

1.13

171.03

55.04

1328.08

20.43

23.07

19.69

CERA

5607.95

29.40

7232.88

1.34

47.05

-0.86

422.19

5.36

19.41

13.05

MIDWESTLTD

1066.05

34.72

3854.92

0.00

310.39

1173.13

1918.39

1248.46

27.81

25.47

POKARNA

780.50

25.50

2419.86

0.08

42.60

50.56

189.42

10.79

11.85

35.89

NITCO

95.18

0.00

2404.02

0.00

-10.33

-121.77

116.02

-22.48

6.58

-7.07

SOMANYCERA

559.15

21.56

2293.23

1.07

34.23

365.71

749.56

24.62

14.43

11.50

ASIANTILES

50.11

117.89

1485.64

0.00

8.07

11.48

530.95

36.76

2.97

6.19

ORIENTBELL

410.00

28.57

603.33

0.24

8.32

2318.40

203.82

43.44

5.56

8.02

EXXARO

6.42

70.14

287.24

0.00

2.07

156.24

85.22

31.25

3.69

8.18

MURUDCERA

29.96

18.74

181.39

0.00

0.81

-58.06

50.09

8.54

5.23

19.10

GSLSU

27.22

12.61

115.36

0.00

0.06

111.19

65.42

-12.19

-2.15

12.74

PACIFICI

146.95

36.79

101.29

0.00

1.69

82.31

63.92

28.72

1.09

4.45

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

141

117

230

142

159

129

216

192

113

156

114

116

157

156

Operating Profit

OPM %

20.01%

19.95%

32.43%

20.15%

27.08%

23.71%

27.03%

18.83%

Interest

Depreciation

Profit before Tax

Tax %

42.19%

27.78%

26.23%

25.82%

26.38%

22.84%

27.01%

26.19%

Net Profit

4.56

4.29

14.33

7.21

8.19

4.87

10.24

8.58

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

257

380

525

503

586

626

695

215

286

419

412

434

454

527

Operating Profit

107

152

172

168

OPM %

16.56%

24.76%

20.30%

17.93%

25.94%

27.51%

24.16%

Interest

Depreciation

Profit before Tax

138

178

153

Tax %

22.01%

27.33%

28.09%

30.83%

27.20%

25.12%

26.02%

Net Profit

100

133

113

EPS

1793.88

6770.45

19.84

16.10

999.16

36.20

—

Dividend Payout %

0.00%

24.73%

0.00%

—

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

-1

234

276

343

405

480

598

116

103

151

114

223

Trade Payables

108

105

147

124

151

Total Liabilities

467

499

616

673

754

1,051

193

206

232

255

254

307

Capital Work in Progress

116

119

240

Cash & Bank

217

249

325

265

324

Total Assets

467

499

616

673

754

1,051

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

177

-32

128

Cash from Investing

-39

-40

-99

-17

-64

-201

Cash from Financing

-2

-27

-14

-50

102

-0

-25

-11

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Oct 2025

Dec 2025

Mar 2026

Jun 2026

77.13

77.12

2.11

4.70

4.37

3.88

12.53

13.70

13.78

14.46

Government

0.00

Public

8.25

4.46

4.71

4.44

Midwest Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Midwest Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI