Audited financial Results(Standalone and Consolidated) for the quarter and year ended 31st March 2026.
MIDWESTLTD · price
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Midwest Limited reported standalone revenue of ₹4,217.71M for FY26, up 14.1% from ₹3,697.35M in FY25, with standalone PAT growing 10.3% to ₹976.28M. However, consolidated PAT declined 20.1% to ₹1,064.76M (FY25: ₹1,332.99M) despite consolidated revenue of ₹6,456.18M, broadly flat vs prior year. The FY25 consolidated PBT included a ₹257.88M exceptional item from loss of control of a subsidiary, which inflated that year's profit base. The company listed on NSE/BSE in October 2025 via an IPO raising ₹2,500M (fresh issue), with ₹1,649.44M of proceeds still unutilised as of March 2026. Borrowings were reduced significantly, with consolidated debt falling from ₹2,366M to ₹1,718M. Statutory auditors issued unmodified opinions on both standalone and consolidated financials. Key deployments of IPO proceeds include ₹1,285.18M for the Phase II Quartz Processing Plant and ₹543.28M for debt repayment.
The standalone metrics show healthy growth, but the consolidated profit decline versus a near-flat revenue base is a concern. The large exceptional item in the prior year makes year-on-year PAT comparison less straightforward. The strong cash position and debt reduction are positives.