Announcement
Announcement under Regulation 30 (LODR)-Change in Management 29 Sep - AGM approved director continuation, designation change, and secretarial auditor appointment for five years.
Source: Bse
Midwest Limited (MIDWESTLTD)
Small CapMetals stocks · Small cap · NSE
Midwest Limited operates in the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 02:01 pm ISTDetails
Quote21 Oct, 02:01 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result12 Aug, 02:53 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Metals P/E 23.2 (n=92)
Technical timing lens
Trend score and candlestick chart
43NeutralSMA20 -8.0% / mo · MACD +
Stock trend: 42
Sector RS: 44
Sector 3M: -6.0% vs Nifty 500 -6.1%
Metals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MIDWESTLTDD candles · FIT view-11.6%TODAY · PROVISIONALLatest price ₹1130.00 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-2.2%
RSI
65
MACD hist
23.09
52W pos
27%
2026-10-21O ₹1155.00H ₹1193.05L ₹1105.00C ₹1130.00Vol 1.2L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MIDWESTLTDNifty MetalNifty 500
- MIDWESTLTD
- -11.2%
- Nifty 500
- -5.6%
- Nifty Metal
- -3.8%
- Vs Nifty 500
- -5.6 pp
Chart stats
19 Oct 2026- From 52W high
- -39.3%
- 52W range position
- 27%
- ATR (14)
- 5.0%
- Volume vs 20D
- 1.90x
- Avg traded value
- ₹5.5 Cr
- 20D price channel
- ₹860 - ₹1,129.4
₹1,859.9
₹860 - ₹1,859.9
₹56.1
Latest completed session
20-session average
68.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE47
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average52
Revenue +35.2% · PAT +29.2% YoY
Technical
Neutral43
Price trend and sector-relative-strength timing.
Valuation
Legacy model+13.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +35% YoY · PAT +29% YoY
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹192 Cr | +35.2% | -11.1% |
| EBITDA | ₹49 Cr | +25.6% | -15.5% |
| Operating margin | 25.0% | -200 bps | -200 bps |
| PAT | ₹31 Cr | +29.2% | -16.2% |
| PAT margin | 16.1% | -75 bps | -98 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 29.90
- P/B
- 3.44
- EV/EBITDA
- 16.19
- Market Cap
- 3321.00Cr
Profitability
- ROE
- 13.60%
- ROCE
- 15.80%
- ROA
- 8.28%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 11.00%
- EPS 5Y
- 13.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 26.00%
Balance Sheet
- Debt/Equity
- 0.20
- Interest Coverage
- 13.14×
- Altman Z
- 7.13
- Book Value
- 266.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- 175.00 Cr
- EPS TTM
- 31.24
Shareholding
- Promoter Hold
- 77.12%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 192-11.1% vs prev
Net Profit
₹ CrLatest: 31.0-16.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 65. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~7.1% over last month) — short-term momentum negative.
- RSI(14) at 65 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 39% off 52W high · 31% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
58
RS percentile
Stage 4 Downtrend
1M return
+15.1%
3M return
-11.2%
6M return
-14.6%
1Y return
+6.4%
RS 1D
+20
RS 20D
+43
Sector rank
#4
Industry rank
#18
Stage evidence
- Price is 5.7% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.7%.
- Both 3-month and 6-month returns are negative.
50-DMA
price above
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
244 observations
19 Oct 2026Value 106.41+11.13%
RS vs Nifty 500106
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation4/30
Growth15/25
Quality9/20
Balance Sheet10/15
Cash Flow3/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
47
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
47/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 13.4%.
- Balance sheet contributes 10/15 to the score.
Main drags
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Quality is weaker at 9/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
29.9
PB
3.4
EV/EBITDA
16.2
ROE
13.6%
ROCE
15.8%
FCF Yield
—
Debt/Equity
0.2
MoS
+13.4%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
47
Previous: 47
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+13.4%
Previous: +13.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
47
47
47
47
47
47
47
47
47
47
47
47
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹432.4
-161.3% MoS
Growth-justified P/E
41.8
Growth-justified Value
₹1,304.58
+13.4% MoS
PEG
1.64
Comparable companies
Peers
Business-comparable peers in Metals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
REGAAL
Small
Regaal Resources Limited
Metals
match 85
62
13.6
16.5%
+57%
UNDERVALUED
OWAIS
SME
Owais Metal and Mineral Processing Ltd.
Metals
match 76
18
81.8
1.5%
-17249%
OVERVALUED
VIDYAWIRES
Small
Vidya Wires Limited
Metals
match 62
44
31.0
17.7%
+15%
WATCHLIST
ARFIN
Small
Arfin India Limited
Metals
match 59
27
80.3
9.4%
-165%
OVERVALUED
RAMRAT
Small
Ram Ratna Wires Limited
Metals
match 58
41
45.8
20.6%
-18%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Midwest Limited operates in the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
71Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 66th percentile of the scored universe and 57th percentile within Metals. Main check: financial discipline is weak at 50/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
17 docs text-extracted · 6 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Metals: 57th pctile, median 70 · Small: 69th pctile, median 66
Evidence depth
Financial-only
17 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
79
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 77.1%.
- ▸Promoter pledge is zero.
- ▸3/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸ROCE trend is -4.9%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Midwest Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 7 Jul - Midwest signs MoU with PERMINAS, NFTDC and Midwest Energy to explore Indonesia rare earth collaboration.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Newspaper Publication with respect to Un-Audited Standalone and Consolidated Financial Results for the Quarter Ended June 30, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Monitoring Agency Report 12 Aug - CRISIL report on June 30, 2026 IPO proceeds: Rs 879.40 million utilized, Rs 1,620.60 million unutilized.
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 6 May - Midwest selected by KMML for rare earth pilot project; commissioning targeted within 6 months after approvals.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.