Midwest Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

Net profit of Midwest rose 29.40% to Rs 18.31 crore in the quarter ended December 2025 as against Rs 14.15 crore during the previous quarter ended December 2024. Sales rose 10.02% to Rs 128.86 crore in the quarter ended December 2025 as against Rs 117.12 crore during the previous quarter ended December 2024.

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Midwest will hold a meeting of the Board of Directors of the Company on 12 February 2026.

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Under the order, the company has been permitted to undertake quarrying operations for the extraction of coloured quartzite blocks useful for cutting and polishing purpose. The lease cover an area of 21.012 hectares (51.92 acres) located at Hanumanthunipadu Village & Mandal in Prakasam, Andhra Pradesh for a period of 30 years, commencing from 06 January 2026 to 05 January 2056, subject to requisite statutory approvals and compliance with applicable conditions.

The estimated available marketable coloured quartzite block in the quarry is 609,620 cubic meters.

Midwest (ML) is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of black galaxy granite, a unique granite variety known for its sparkling golden flakes.

On a consolidated basis, Midwest's net profit rose 86.82% to Rs 27.78 crore while net sales rose 12.38% to Rs 158.69 crore in Q2 September 2025 over Q2 September 2024.

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The brokerage highlighted Midwest's position as India?s largest producer and exporter of Black Galaxy granite, backed by a vertically integrated model and 20 operating mines. Strong historical performance, with revenue CAGR of over 21% and EBITDA CAGR above 44% over the past five years, underpins the positive view.

Looking ahead, revenue and EBITDA are expected to grow at a CAGR of 36% and 47%, respectively, over FY25-28, driven by the Quartz and HMS segments, while adjusted PAT is seen rising at a 56% CAGR. Improving cash flows are also expected to reduce net debt-to-EBITDA below 1x. The target price is based on a valuation of 13x FY28 estimated EV/EBITDA.

Midwest (ML) is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of black galaxy granite, a unique granite variety known for its sparkling golden flakes.

On a consolidated basis, Midwest's net profit rose 86.82% to Rs 27.78 crore while net sales rose 12.38% to Rs 158.69 crore in Q2 September 2025 over Q2 September 2024.

The stock was listed on the exchanges on 24 October 2025, debuting at Rs 1,165.10, a premium of 9.4% to the issue price of Rs 1,065. The stock is currently up 57.93% over its IPO price and 44.37% over its listing price.

Midwest?s IPO was subscribed 87.89 times. The issue opened for bidding on 15 October 2025, and closed on 17 October 2025, with a price band of Rs 1,014 to Rs 1,065 per share.

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