Midwest IPO Review & Recommendations

Midwest IPO Peer Comparison

Midwest Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Notes:

1. All the financial information for listed industry peers mentioned above is on a consolidated basis.
2. P/E ratio is calculated as closing share price as on October 6, 2025, divided by the diluted EPS for year ended March 31, 2025.
3. Diluted EPS refers to the diluted EPS sourced from the financial statements of the peer group company for the year ended March 31, 2025.
4. NAV per Equity Share represents Networth as of end of the financial year March 31, 2025 divided by the number of Equity Shares outstanding at the end of the year.
5. RoNW is computed as consolidated profit after tax for the year as a percentage of closing Net Worth of the Financial Year ended March 31, 2025.