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Midwest (MIDWESTLTD)₹1,006−0.63%Granites & Marbles
In the Jun 2026 quarter (consolidated), Midwest reported sales of ₹192 Cr, up 35.4% from Jun 2025, and net profit of ₹30.89 Cr, up 29.1% year on year. For the year to Mar 2026, sales were ₹647 Cr and net profit ₹106 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| 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 | 94.18 | 156 | 103 | 112 | 98.23 | 157 | 143 |
| Operating Profit | 31.08 | 23.04 | 75.16 | 39.06 | 47.08 | 31.09 | 58.09 | 49.11 |
| OPM % | 22.0% | 20.0% | 32.0% | 27.0% | 29.0% | 24.0% | 27.0% | 25.0% |
| Other Income | 4.02 | 6.02 | 2.01 | 4.01 | 2.01 | 5.01 | 3.01 | 6.02 |
| Interest | 2.01 | 3.01 | 3.01 | 4.01 | 3.99 | 5.01 | 2.01 | 4.01 |
| Depreciation | 6.02 | 6.02 | 8.02 | 7.03 | 7.02 | 9.03 | 8.03 | 9.04 |
| Profit before tax | 26.93 | 19.95 | 65.86 | 32.91 | 37.91 | 21.94 | 50.85 | 41.91 |
| Tax % | 42.0% | 28.0% | 26.0% | 26.0% | 26.0% | 23.0% | 27.0% | 26.0% |
| Net Profit | 14.96 | 14.96 | 47.86 | 23.93 | 27.94 | 16.96 | 36.90 | 30.89 |
| EPS (Rs) | 4.41 | 4.19 | 13.97 | 6.88 | 8.23 | 5.07 | 9.85 | 8.14 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 380 | 526 | 504 | 587 | 627 | 647 | 698 |
| Expenses | 285 | 419 | 413 | 429 | 452 | 472 | 511 |
| Operating Profit | 96.28 | 108 | 91.13 | 158 | 175 | 174 | 185 |
| OPM % | 25.0% | 20.0% | 18.0% | 27.0% | 28.0% | 27.0% | 26.6% |
| Other Income | 12.05 | 13.04 | 19.07 | 12.04 | 40.14 | 14.05 | 16.05 |
| Interest | 7.01 | 9.99 | 10.01 | 10.01 | 11.01 | 14.01 | 15.02 |
| Depreciation | 18.05 | 18.06 | 22.07 | 22.07 | 26.08 | 31.12 | 33.12 |
| Profit before tax | 82.76 | 92.82 | 78.83 | 138 | 178 | 144 | 153 |
| Tax % | 27.0% | 28.0% | 31.0% | 27.0% | 25.0% | 26.0% | — |
| Exceptional items | −0.99 | −0.99 | 0.00 | 2.99 | 19.93 | 0.00 | — |
| Net Profit | 59.83 | 66.80 | 53.85 | 99.65 | 133 | 106 | 113 |
| EPS (Rs) | 7,660.07 | 8,599.52 | 7,289.41 | 1,000.98 | 36.24 | 29.07 | 31.29 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.73 | 0.73 | 0.73 | 9.96 | 16.93 | 17.94 |
| Reserves | 277 | 346 | 410 | 486 | 603 | 945 |
| Borrowings | 103 | 97.87 | 151 | 124 | 242 | 192 |
| Other Liabilities | 122 | 159 | 94.91 | 137 | 194 | 211 |
| Total Liabilities | 502 | 604 | 656 | 757 | 1,055 | 1,366 |
| Fixed Assets | 206 | 232 | 255 | 254 | 307 | 568 |
| CWIP | 92.25 | 103 | 105 | 119 | 227 | 90.22 |
| Investments | 1.01 | 11.03 | 20.06 | 38.11 | 20.07 | 0.00 |
| Other Assets | 201 | 256 | 274 | 346 | 501 | 707 |
| Inventories | 60.12 | 51.08 | 57.10 | 37.05 | 28.03 | 43.07 |
| Trade receivables | 52.12 | 42.05 | 96.17 | 119 | 241 | 229 |
| Cash & equivalents | 7.02 | 64.20 | 13.04 | 28.06 | 17.05 | 230 |
| Total Assets | 502 | 604 | 656 | 757 | 1,055 | 1,366 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 67.07 | 143 | −52.09 | 128 | 87.12 | 175 |
| Cash from investing activity | −39.85 | −98.56 | −16.95 | −63.75 | −200 | −275 |
| Cash from financing activity | −27.07 | −14.05 | 45.17 | −50.12 | 102 | 150 |
| Net cash flow | 0.00 | 31.04 | −25.05 | 14.01 | −11.02 | 49.06 |
| Capex | 43.05 | 64.09 | 44.05 | 65.02 | 190 | 130 |
| Free cash flow | 26.06 | 87.29 | −86.27 | 79.21 | −94.31 | 48.11 |
| CFO / OP % | 90.0% | 164.0% | −35.0% | 105.0% | 65.0% | 126.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 50 | 29 | 70 | 74 | 140 | 129 |
| Inventory days | — | — | — | 416 | — | — |
| Days payable | — | — | — | 243 | — | — |
| Cash conversion cycle | 51 | 30 | 71 | 250 | 141 | 130 |
| Working capital days | −3 | −31 | 29 | 42 | 82 | 84 |
| ROCE % | — | 25.0% | 17.0% | 24.0% | 22.0% | 15.0% |
For the Jun 2026 quarter, Midwest reported sales of ₹192 Cr, up 35.4% year on year and net profit of ₹30.89 Cr, up 29.1% year on year. The operating margin was 25.0%.
Midwest's sales for the year to Mar 2026 were ₹647 Cr; over the last twelve months they were ₹698 Cr.
Net profit for the year to Mar 2026 was ₹106 Cr, and ₹113 Cr over the last twelve months. Earnings per share over the same trailing period were ₹31.29.
Midwest reported borrowings of ₹192 Cr at Mar 2026, against cash and equivalents of ₹230 Cr.
Cash from operations was ₹175 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹48.11 Cr.