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Midwest Gold Ltd

₹ 4,6624.89%
14 Jan – close price
🔗midwestgoldltd.com•BSE: 526570•NSE:
Market Cap₹ 5,617 Cr.
Current Price₹ 4,662
High / Low₹ 5,050
Stock P/Enull
Book Value₹ 84.0
Dividend Yield0.00 %
ROCE-2.70 %
ROE-11.3 %
Face Value₹ 10.0
Sales₹ 0.44 Cr.
OPM-700 %
Mar Cap₹ 5,617 Cr.

ABOUT

Incorporated in 1990, Midwest GoldLtd processing and trading businessof Granite, Marble and other naturalstone[1]

KEY POINTS

Business Overview:[1][2]MGL (formerly M/s. Nova Granites (India) Limited) was in the business of processing of Granite Blocks including mining and processing of other types of minerals. It diversified into Gold mining without leaving its original business activities. Currently, the company is evaluating various business opportunities to turnaround its operations

Also present in buckets:
Aggressive Growth TriggersAggressive Growth TriggersExcellent ResultsExcellent ResultsExcellent ResultsExcellent ResultsRevenue GuidanceAsset Base ExpansionAsset Base ExpansionAsset Base ExpansionCapacity Expansion And ProductsCapacity Expansion And ProductsCapacity Expansion And ProductsPreferential IssuancePreferential IssuancePreferential IssuancePreferential IssuanceLarge Order ReceiptsLarge Order ReceiptsJv Partnerships AcquisitionsJv Partnerships AcquisitionsJv Partnerships AcquisitionsCredit Rating UpdatesCredit Rating UpdatesCredit Rating UpdatesCredit Rating UpdatesRed Flags And Poor PerformanceRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Midwest Gold4662.10–5616.870.000.73297.300.010.00-2.700.44-700.00-1.660.7355.53-6.040.32
2.Ramco Inds.306.3011.512659.960.3340.93141.82365.483.493.611654.6512.16231.0540.820.613.880.04
3.Arisinfra Solu.129.2959.061053.050.0015.261305.59241.1938.3712.26856.247.3617.8314.061.501.340.08
4.Everest Inds.436.00–691.310.57-18.17-55.70306.16-18.750.751630.540.75-32.17-18.171.20-0.520.54
5.Vishnusurya Pro.172.0013.79423.290.5823.105.87168.1420.85–299.6418.4230.6923.102.37–0.42
6.Marble City167.8082.76395.590.002.851714.2924.97131.42–59.0021.862.382.545.39–1.62
7.Nidhi Granites399.0088.91319.200.001.2917.2713.188.9316.5756.889.953.591.2917.358.920.11
–Median: 8 Co.276.4836.83557.30.172.7891.11146.5513.445.37460.658.9910.712.621.942.440.21

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
0.290.290.210.240.070.000.730.000.010.260.170.000.01
Expenses
4.640.740.540.390.470.121.090.210.160.802.310.200.21
Operating Profit
-4.35-0.45-0.33-0.15-0.40-0.12-0.36-0.21-0.15-0.54-2.14-0.20-0.20
Other Income
0.000.010.000.020.000.000.020.020.130.380.841.501.75
Profit before tax
-4.61-0.73-0.62-0.43-0.70-0.49-0.66-0.54-0.37-1.12-1.910.640.73
Tax %
0.00%0.00%532.26%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit
-4.62-0.73-3.92-0.43-0.71-0.49-0.67-0.54-0.37-1.11-1.910.630.73
EPS in Rs
-14.13-2.23-11.99-1.31-2.17-1.50-2.05-1.65-1.13-3.39-1.730.570.66

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1.060.114.042.600.120.110.570.370.121.751.050.450.44
Expenses
1.610.484.903.950.770.641.221.461.536.932.093.413.52
Operating Profit
-0.55-0.37-0.86-1.35-0.65-0.53-0.65-1.09-1.41-5.18-1.04-2.96-3.08
Other Income
0.040.040.040.030.640.080.050.080.13-0.030.051.294.47
Interest
0.020.000.160.010.000.000.070.400.621.011.212.193.00
Depreciation
0.060.220.240.420.290.200.190.130.110.090.100.080.05
Profit before tax
-0.59-0.55-1.22-1.75-0.30-0.65-0.86-1.54-2.01-6.31-2.30-3.94-1.66
Net Profit
-0.410.09-1.16-1.88-1.34-0.75-1.25-1.38-1.62-9.61-2.30-3.94-1.66
EPS in Rs
-1.250.28-3.55-5.75-4.10-2.29-3.82-4.22-4.95-29.39-7.03-3.57-3.89
Dividend Payout %
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%–

Compounded Sales Growth

10 Years:15%
5 Years:-5%
3 Years:55%
TTM:-41%

Compounded Profit Growth

10 Years:%
5 Years:%
3 Years:%
TTM:20%

Stock Price CAGR

10 Years:%
5 Years:239%
3 Years:429%
1 Year:3176%

Return on Equity

10 Years:%
5 Years:%
3 Years:%
Last Year:-11%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
3.273.273.273.273.273.273.273.273.273.273.2711.0511.05
Reserves
-3.35-5.11-6.27-8.14-9.49-10.24-11.49-12.87-14.49-24.09-26.4180.3581.71
Borrowings
0.0014.6212.1112.1112.1112.1113.6617.8422.1325.1226.7828.7629.97
Other Liabilities
18.537.417.486.897.037.938.135.313.123.573.440.602.28
Total Liabilities
18.4520.1916.5914.1312.9213.0713.5713.5514.037.877.08120.76125.01
Fixed Assets
5.503.433.192.772.492.292.332.172.062.031.931.3641.82
Gross Block
16.2316.2316.2316.2316.2416.2410.5910.1510.159.169.165.34–
Accumulated Depreciation
10.7312.8013.0413.4613.7513.948.277.988.097.147.233.98–
CWIP
0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments
0.000.000.000.000.000.000.000.000.000.020.0039.570.00
Other Assets
12.9516.7613.4011.3610.4310.7811.2411.3811.975.825.1579.8383.19
Total Assets
18.4520.1916.5914.1312.9213.0713.5713.5514.037.877.08120.76125.01

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-0.05-0.040.150.01-0.020.130.150.33-3.67-1.82-0.41-3.07
Cash from Investing Activity
0.020.030.030.000.020.02-0.190.100.02-0.120.03-44.31
Cash from Financing Activity
-0.010.00-0.160.000.000.00-0.07-0.403.671.980.4578.68
Net Cash Flow
-0.04-0.010.010.010.000.15-0.110.030.010.050.0731.30

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
2,021.2719,444.55500.52707.5415,421.2516,823.183,297.815,139.5912,075.4270.91139.05186.56
Inventory Days
470.445,949.50202.6578.461,251.433,285.0011,619.17989.923,345.83411.45438.000.00
Days Payable
824.6311,096.00301.18501.456,656.9014,709.5024,515.831,825.005,677.78690.181,225.63–
Cash Conversion Cycle
1,667.0914,298.05401.99284.5510,015.775,398.68-9,598.864,304.529,743.47-207.81-648.58186.56
Working Capital Days
-3,350.42-33,845.45-1,012.78-1,760.42-38,355.42-43,766.82-8,939.30-15,142.57-51,951.67-4,882.66-8,909.48-21,372.78
ROCE %
-456.00%-8.66%-9.68%-21.28%-4.42%-11.79%-15.12%-17.54%-14.52%-69.17%-27.46%-2.70%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
72.03%72.03%72.03%72.03%72.03%72.03%72.03%72.03%72.03%63.15%63.15%63.15%57.91%
FIIs
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%6.62%6.72%6.78%11.70%
DIIs
0.63%0.63%0.63%0.63%0.63%0.63%0.63%0.63%0.63%1.86%1.86%1.86%1.71%
Public
27.33%27.33%27.33%27.33%27.34%27.33%27.34%27.33%27.32%28.37%28.28%28.21%28.68%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Midwest Limited Submits SEBI Compliance Certificate for Q4 FY26

15th April 2026, 5:14 pm

Midwest Gold Limited Submits SEBI Compliance Certificate for Q4 FY26

15th April 2026, 5:03 pm

Midwest Gold Board Approves Preferential Allotment of Equity Shares

8th April 2026, 7:19 pm

Midwest Gold Limited Secures Regulatory Approval for Amalgamation with Subsidiary Midwest Energy

6th April 2026, 10:28 pm

Midwest Gold's subsidiary begins trial production at lithium battery assembly line

6th April 2026, 8:38 pm

Published by Other Websites

External media mentions & references

India's $72 Billion IPO Lock-in Expiry: Market Brace for Share Flood

12th March 2026, 6:14 am

Motilal Oswal Flags MIDWEST, Sets Rs 1700 Target Price

17th February 2026, 8:28 pm

Midwest Gold Pivots to Rare Earths: Execution Risk Looms

11th February 2026, 11:58 am

Midwest's Green Pivot Faces Valuation Scrutiny Amidst Expansion

4th February 2026, 7:17 pm

₹25,000 Crore Lock-Up Expiry Looms: Investor Watchlist Grows

19th January 2026, 4:31 am

News Articles

Editorial & research coverage

Midwest Gold Pivots to Rare Earths: Execution Risk Looms
Midwest Gold Pivots to Rare Earths: Execution Risk Looms

11th February 2026, 11:58 am

Midwest's Green Pivot Faces Valuation Scrutiny Amidst Expansion
Midwest's Green Pivot Faces Valuation Scrutiny Amidst Expansion

4th February 2026, 7:17 pm

₹25,000 Crore Lock-Up Expiry Looms: Investor Watchlist Grows
₹25,000 Crore Lock-Up Expiry Looms: Investor Watchlist Grows

19th January 2026, 4:31 am

MIDWEST LTD. EXPLODES 55% HIGHER? Motilal Oswal Issues Bold 'BUY' Call on Newly Listed Mining Stock!
MIDWEST LTD. EXPLODES 55% HIGHER? Motilal Oswal Issues Bold 'BUY' Call on Newly Listed Mining Stock!

26th December 2025, 10:38 am

Midwest Diversifies: Q3 Revenue Up 10%, But QoQ Trends Warrant Watch
Midwest Diversifies: Q3 Revenue Up 10%, But QoQ Trends Warrant Watch

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

8 Jan - Submission of Certificate received from Bigshare Services Pvt. Ltd., RTA of the Company confirming compliance under Regulation 74(5) of the SEBI (DP) Regulation, 2018, for …

Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
Board Meeting Outcome for OUTCOME OF THE BOARD MEETING - ALLOTMENT OF EQUITY SHARES UNDER PREFERENTIAL ALLOTMENT

31 Dec - Preferential allotment of 1,000,000 shares at Rs1,500 each, raising Rs150 crore; paid-up capital now 12,047,946.

Closure of Trading Window

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

No credit ratings.

Concalls

No concalls.

Stock Analysis

Description

  1. Terraform Magnum Limited is a company listed on stock exchanges, primarily involved in operations that have historically included real estate. The company is currently facing significant financial challenges.

Key Growth Triggers

  1. Currently no data available for Key Growth Triggers.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Ms. Surabhi Shewaramani's resignation as Company Secretary, Compliance Officer, and Key Managerial Personnel due to personal reasons is a routine administrative change. However, it occurs amidst the company's ongoing financial distress, including negative net worth and auditor concerns previously highlighted.

Key Dates To Watch

  1. January 08, 2026: Ms. Surabhi Shewaramani's resignation as Company Secretary, Compliance Officer, and Key Managerial Personnel becomes effective.

Corporate Announcements

15th Apr 26
Impact Rating: 3
Midwest Limited has filed its SEBI Regulation 74(5) certificate for the quarter ended March 31, 2026. The company's registrar confirmed that details of share dematerialization and rematerialization have been provided to BSE and NSE.
15th Apr 26
Impact Rating: 4
Midwest Gold Limited filed a SEBI (Depositories & Participants) Regulations, 2018 compliance certificate for the quarter ended March 31, 2026, confirming dematerialisation processes with BSE.
8th Apr 26
Impact Rating: 7
Midwest Gold Limited's board has approved the preferential allotment of 73,500 equity shares at ₹2,000 each. This raises ₹14.70 crore (₹1,470.00 lakh), leading to an increase in paid-up share capital.
6th Apr 26
Impact Rating: 9
The Regional Director has approved the scheme of amalgamation between Midwest Energy Private Limited and its holding company, Midwest Gold Limited, facilitating the merger of the subsidiary into the parent.
6th Apr 26
Impact Rating: 8
The company's subsidiary has initiated trial runs on its Lithium Battery Assembly Line and Certification-Led BESS Platform, a key step towards entering the energy storage market.