Skip to content

    Midwest Limited

    India's largest Black Galaxy/Absolute Black granite miner-processor, now expanding into quartz and rare earth minerals.

    Consumer Durables
    Consumer Discretionary
    View MIDWESTLTD earnings calls
    ₹1,281.5
    -0.18% from avg

    Overview

    Price

    ₹1,281.5

    Market Cap

    ₹4.5k Cr

    Sector

    Consumer Durables

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital11110171718
    Reserves277345409485602657944
    Borrowings10398151124242234192
    Other Liabilities12216095138195175212
    Total Liabilities5026046567571.1k1.1k1.4k
    AssetsFixed Assets206232255254307531567
    CWIP921031051192268190
    Investments11120382000
    Other Assets202257275347503470709
    Total Assets5026046567571.1k1.1k1.4k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating67143-5212887175
    Cash from Investing-40-99-17-64-201-276
    Cash from Financing-27-1445-50102150
    SummaryCapital Expenditure
    Free Cash Flow2687-8679-9448
    FCF Margin

    Valuation

    Assumptions

    Current — MIDWESTLTD
    Price
    ₹1,234
    EPS (TTM)
    ₹29.97
    PE (TTM)
    41.2
    Profit growth

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (44.4×) and current (41.2×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹1,234
    vs
    Fair value · 15% return
    ₹852
    31%Overvalued

    At 10% growth and a 41× exit, ₹1234 only delivers your return if you pay ₹852. The price is currently baking in 18% growth.

    EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 41×.

    YearGrowthEPS (₹)
    FY2710.0%32.97
    FY2810.0%36.26
    FY2910.0%39.89
    FY3010.0%43.88
    FY3110.0%48.27
    FY328.0% ·fade52.13
    FY336.0% ·fade55.26

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Midwest Limited

    Guides on how to read this kind of business and the numbers that matter.