Midwest Ltd
Midwest Ltd (MIDWESTLTD) last reported results for the quarter ended Jun 2026, with sales of ₹192 crore and net profit of ₹31 crore. The stock last traded at ₹1,006, a market capitalisation of ₹3,639 crore, on a P/E of 32.8. Over the past 52 weeks the stock has ranged between ₹860 and ₹1,860. Figures are as of 6 Oct 2026 and are not real time.
Midwest Ltd share price and key metrics
- Current price
- ₹1,006
- Market cap
- ₹3,639 cr
- Stock P/E
- 32.8
- Book value
- ₹266
- ROE
- 13.6%
- ROCE
- 15.8%
- Dividend yield
- 0.00%
- 52w high / low
- 1860/860
Metrics as of 6 Oct 2026. Not real time.
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Midwest Ltd growth and returns
- 10 Years
- %
- 5 Years
- 11%
- 3 Years
- 9%
- TTM
- 10%
- 10 Years
- %
- 5 Years
- 13%
- 3 Years
- 26%
- TTM
- 12%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- %
- 1 Year
- %
- 10 Years
- %
- 5 Years
- 17%
- 3 Years
- 17%
- Last Year
- 14%
Midwest Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹192 cr, up 35.2% from ₹142 cr a year earlier. Net profit was ₹31 cr, up 29.2% year on year.
| ₹ 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 (₹) | 4.40 | 4.18 | 13.95 | 6.86 | 8.22 | 5.06 | 9.83 | 8.13 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Midwest Ltd annual results
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 380 | 525 | 503 | 586 | 626 | 646 | 695 |
| Operating profit | 96 | 108 | 91 | 158 | 175 | 179 | 184 |
| OPM % | 25% | 20% | 18% | 27% | 28% | 28% | 27% |
| Net profit | 60 | 67 | 54 | 100 | 133 | 106 | 113 |
| EPS (₹) | 7,643.34 | 8,584.12 | 7,278.60 | 999.17 | 38.27 | 29.00 | 31.24 |
TTM is the trailing twelve months to the most recent quarter.
Midwest Ltd balance sheet
| ₹ crore | 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 |
As reported by the company. Total assets equal total liabilities by construction.
Midwest Ltd cash flow
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 67 | 143 | -52 | 128 | 87 | 175 |
| Cash from investing | -40 | -99 | -17 | -64 | -201 | -276 |
| Cash from 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 / operating profit | 90% | 164% | -35% | 105% | 65% | 123% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Midwest Ltd operating ratios
| Per year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| ROCE % | — | 25% | 17% | 24% | 22% | 16% |
| 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 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Midwest Ltd shareholding pattern
Promoters held 77.12% at Jun 2026, broadly unchanged since Dec 2025. FIIs 3.88% and DIIs 14.46%.
| % held | 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 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Midwest Ltd corporate filings
- Midwest Limited receives regulatory order prohibiting mineral extraction at Chimakurthy mine due to safety concernsCompany Updatemedium impact
Cruxal's analysis: Midwest Limited has received a prohibitory order from the Directorate General of Mines…
Read the full analysis - Certificate under Reg 74(5) of the SEBI (DP) Regulations, 2018, for the Quarter ended September 30, 2026.Company Updatelow impact
- SEBI-regulated shareholder approvals at Midwest Limited include continuation of independent director beyond 75 years, change in director designation, and appointment of secretarial auditor, with no immediate financial impact.Company Updatelow impact
Cruxal's analysis: Midwest Limited has obtained shareholder approval for key governance decisions during its…
Read the full analysis - Company Midwest Limited passes all resolutions at 45th AGM with overwhelming majority, including reappointment of key directors and auditors, indicating strong governance supportAGM/EGMlow impact
Cruxal's analysis: Midwest Limited conducted its 45th AGM on 28th September 2026, with all resolutions…
Read the full analysis - Midwest Limited Concludes 45th Annual General Meeting; Board Changes and Governance Resolutions TabledAGM/EGMlow impact
Cruxal's analysis: Midwest Limited has successfully concluded its 45th Annual General Meeting held on…
Read the full analysis - Closure of Trading WindowInsider Trading / SASTlow impact
- Midwest Ltd dispatches physical copies of 45th Annual Report for FY 2025-26Company Updatelow impact
Cruxal's analysis: In compliance with Regulation 36(1)(b) of the SEBI LODR Regulations, 2015, Midwest Ltd…
Read the full analysis - Midwest Ltd publishes statutory newspaper notice regarding corporate disclosuresCompany Updatelow impact
Cruxal's analysis: Midwest Ltd has fulfilled its regulatory obligation under Regulation 30 of the SEBI…
Read the full analysis - Midwest Ltd files Business Responsibility and Sustainability Report (BRSR)Otherslow impact
Cruxal's analysis: Midwest Ltd has submitted its Business Responsibility and Sustainability Report (BRSR) as…
Read the full analysis - Midwest Ltd files Annual Report for FY 2025-26Otherslow impact
Cruxal's analysis: Midwest Ltd has submitted its Annual Report for the financial year 2025-26 in compliance…
Read the full analysis - Midwest Limited Announces 45th Annual General Meeting and Strategic Shift to Critical MineralsAGM/EGMhigh impact
Cruxal's analysis: Midwest Limited has scheduled its 45th Annual General Meeting for September 28, 2026, to…
Read the full analysis - Midwest Ltd announces newspaper publication for 45th Annual General MeetingCompany Updatelow impact
Cruxal's analysis: Midwest Ltd has issued a formal intimation regarding the newspaper publication of the…
Read the full analysis - Midwest Limited secures Letter of Intent for three granite quarry leases in Andhra PradeshCompany Updatemedium impact
Cruxal's analysis: Midwest Limited has accepted a Letter of Intent (LOI) from the Andhra Pradesh Mineral…
Read the full analysis - Midwest Limited Q1 FY27 Earnings Call: Strong 35% Revenue Growth and Strategic Rare Earths Expansion in IndonesiaCompany Updatehigh impact
Cruxal's analysis: Midwest Limited reported a strong start to FY27 with 35% YoY revenue growth, 25% EBITDA…
Read the full analysis - Midwest Limited releases audio recording of Q1 FY27 earnings conference callCompany Updatelow impact
Cruxal's analysis: Midwest Limited has formally uploaded the audio recording of its earnings conference call…
Read the full analysis - Midwest Limited Reports Strong Q1 FY27 Growth and Strategic Expansion into Critical MineralsCompany Updatehigh impact
Cruxal's analysis: Midwest Limited has reported a robust start to FY27 with Q1 revenue, EBITDA, and PAT…
Read the full analysis - Midwest Limited publishes Q1 FY27 financial results in newspapersCompany Updatelow impact
Cruxal's analysis: Midwest Limited has complied with SEBI (LODR) regulations by publishing its standalone…
Read the full analysis - Midwest Ltd files Statement of Deviation or Variation for the quarter ended June 30, 2026Company Updatelow impact
Cruxal's analysis: Midwest Ltd has submitted its Statement of Deviation or Variation regarding the…
Read the full analysis - Midwest Ltd files Monitoring Agency Report for quarter ended June 30, 2026Company Updatelow impact
Cruxal's analysis: Midwest Ltd has submitted the Monitoring Agency Report prepared by CRISIL Ratings Limited…
Read the full analysis - Midwest Limited Announces Routine Re-appointments of Internal, Secretarial, and Cost Auditors for FY 2026-27Otherslow impact
Cruxal's analysis: Midwest Limited has formally announced the re-appointment of M/s. Eswaraiah & Co. as…
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