Latest news about Midwest
Midwest
1,019.25
+6.50(+0.64%)
Company Performance:
View Company Insights1D+0.64%
1M+0.28%
6M-23.24%
1Y-10.63%
5Y-10.63%
More news about Midwest
07Sept 26
Midwest Ltd FY26 annual report: revenue ₹645.62 crore, AGM on Sep 28
Midwest Limited reported consolidated revenue from operations of ₹645.62 crore and PAT of ₹106.48 crore for FY26, with EBITDA of ₹174.37 crore. The 45th AGM is scheduled for September 28, 2026 via video conferencing, with e-voting open from September 25-27, 2026. The company completed its IPO in October 2025, raising ₹250 crore via fresh issue; debt-to-equity ratio improved from 0.42 times to 0.19 times in FY26. Quartz Phase I (303,600 TPA) was commissioned in September 2025; Phase II targeting approximately 606,600 TPA is under construction with estimated capex of approximately ₹125 crore. Midwest Limited was selected as lead consortium partner by KMML for a rare-earth pilot plant and signed an MoU with Indonesia's PERMINAS for ionic-clay rare-earth deposits.
01Sept 26
Midwest accepts APMDC letters of intent for granite quarry leases in Andhra Pradesh
Midwest accepts Letters of Intent from APMDC for granite quarry leases. The move marks a formal step toward securing mineral resource rights in Andhra Pradesh. APMDC is the state government entity responsible for mineral allocation in the region.
20Aug 26
Midwest Q1FY27 net profit rises 49%; sets FY27 revenue guidance
Midwest Limited posted a 49% rise in Q1FY27 net profit to ₹310.39 million, driven by 35% revenue growth to ₹1,918.39 million. Management guided for FY27 revenue of ₹840 crore, with ₹720 crore expected from granite and ₹120 crore from quartz. The company highlighted progress on its Indonesia rare earths MoU and Sri Lanka HMS project, while noting diesel cost pressures mitigated by electrification efforts.
08Jul 26
Midwest Ltd Signs MoU with Indonesia's PERMINAS for Rare Earth Projects
Midwest Ltd, alongside Midwest Energy Limited and NFTDC, has signed an MoU with Indonesia's state-owned PERMINAS to jointly develop critical minerals and rare earth resources in Indonesia. The agreement covers the full rare earth value chain, including exploration, mining, processing, refining, and magnet manufacturing. No monetary consideration is specified, and the transaction is conducted at arm's length despite involving a related party.
25Jun 26
Midwest Ltd confirms no encumbrance on promoter shares in FY26
Midwest Ltd filed a declaration with BSE and NSE confirming no new encumbrance on promoter shares for FY ended Mar 31, 2026, under SEBI Reg 31(4). The list of 52 promoters and promoter group members was disclosed, including a name change for Midwest Quartz Private Limited to Midwest Altira Private Limited effective January 23, 2026.
02Jun 26
Midwest FY26 net profit falls 20% to ₹106.48 crore
Midwest Limited reported a 20.12% decline in consolidated net profit to ₹106.48 crore for FY26, despite a 3.1% rise in revenue to ₹645.62 crore. EBITDA stood at ₹174.37 crore with a margin of 27.01%. For Q4FY26, net profit fell to ₹37.02 crore on revenue of ₹215.81 crore, though revenue grew sequentially. The board approved the audited results on May 26, 2026, and the company received a 30-year quarry lease and approval for a Sierra Leone subsidiary.
31May 26
Midwest Limited reports INR645 crore revenue in FY26
Midwest Limited reported a consolidated revenue of INR645 crores for FY26, a 3% increase from the previous year's INR626 crores. For Q4FY26, revenue stood at INR215 crores with an EBITDA margin of 27% and a PAT margin of 17.16%. The company reduced overall debt by INR50 crores and improved working capital days. Strategic developments include securing a 30-year Galaxy granite lease, starting Phase 2 construction for High Purity Quartz with a capex of INR125-130 crores, and being selected as a consortium partner by Kerala Minerals and Metals Limited for a Rare Earths pilot plant.
27May 26
Midwest Limited appoints K. Achyutanand Reddy as Company Secretary
Midwest Limited has appointed Mr. K. Achyutanand Reddy as Company Secretary & Compliance Officer, designated as Key Managerial Personnel, effective May 26, 2026. The Board of Directors approved the appointment during a meeting held on the same day. Reddy, an Associate Member of ICSI, brings over 10 years of experience in corporate laws and governance.
26May 26
Midwest Limited to meet investors on May 29 in Mumbai
Midwest Limited announced a meeting with investors and analysts on May 29, 2026, in Mumbai, scheduled between 10:00 A.M. and 3:00 P.M. IST. The event is part of the 360 ONE Capital (B&K) 16th Annual Investor Conference – TRINITY INDIA 2026, featuring one-on-one and group physical meetings. The company confirmed that only public domain information will be discussed, with no unpublished price sensitive information disclosed.
07May 26
Midwest Ltd Named Lead Partner for KMML Rare Earth Pilot
Midwest Limited has been selected by Kerala Minerals and Metals Ltd. (KMML) as the Lead Consortium Partner for a pilot project focused on processing monazite-rich tailings into rare earth elements (REEs). The project, disclosed on May 06, 2026, involves end-to-end execution including mineral processing and technology development, with Midwest Limited bearing 100% of the capital expenditure. KMML will provide raw materials, land, and utilities, while Midwest has been granted the Right of First Refusal for future commercial production.
01May 26
Midwest Limited CS & Compliance Officer Mr. Rohit Tibrewal Resigns April 30, 2026
Midwest Limited has formally announced the resignation of Company Secretary and Compliance Officer Mr. Rohit Tibrewal, effective April 30, 2026, due to personal reasons. The company completed all regulatory requirements under SEBI Regulation 30, with notifications submitted to BSE and NSE, and official acceptance by CEO Kollareddy Ramachandra.
18Feb 26
Midwest Limited Q3FY26 Earnings Call Reveals Strategic Progress Across Verticals
Midwest Limited conducted its Q3FY26 earnings conference call, revealing strong financial performance with 9MFY26 revenue of ₹429.81 crores and EBITDA of ₹116.05 crores. The company reported robust granite demand domestically and from China, successful resolution of quartz production challenges, and significant progress in HMS operations in Sri Lanka with new government policy developments supporting future expansion.
14Feb 26
Midwest Limited Submits Monitoring Agency Report for Q3 FY26 IPO Fund Utilization
Midwest Limited has filed its monitoring agency report for Q3 FY26 with no deviations in IPO fund utilization. The company raised ₹2,500.00 million in October 2025 and utilized ₹792.20 million during the quarter, primarily for debt repayment (₹543.28 million) and general corporate purposes (₹74.57 million). The remaining ₹1,707.80 million is deployed in fixed deposits earning returns between 3.50% to 7.00%. Major capital expenditure projects including the Phase II Quartz Processing Plant and electric dump trucks remain unutilized as planned.
07Jan 26
Midwest Limited Board Approves Wholly-Owned Subsidiary in Sierra Leone for HMS Reserves Expansion
Midwest Limited's Board of Directors approved incorporating a wholly-owned subsidiary in Sierra Leone on January 7, 2026, to explore HMS reserves and comply with local mineral rights regulations. This strategic expansion into the resource-rich West African nation supports the company's long-term growth objectives and global diversification efforts in the mining sector.
15Dec 25
Midwest: Promoter Group Share Transfer of 14.09 Lakh Shares Scheduled for December 22, 2025
Midwest has disclosed a proposed inter-se share transfer within its promoter group, scheduled for December 22, 2025. The transaction involves 14,08,851 equity shares (3.90% of total share capital) being gifted from promoter Rama Raghava Reddy Kollareddy to his spouse, Kollareddy Ranganayakamma. This transfer will not change the overall promoter group shareholding. The transaction complies with SEBI regulations and is exempt from open offer requirements.
13Nov 25
Midwest Reports Strong Q2 Performance with 106% Profit Growth
Midwest, a leader in the granite and quartz industry, announced strong Q2 2025 results. Net earnings reached ₹290.63 million, up 106% year-over-year, while revenue increased 55.4% to ₹1,222.52 million. The company's H1 FY2025-26 performance showed revenue of ₹2,072.32 million and profit of ₹404.91 million. Midwest recently completed a successful IPO, raising ₹4,510 million. The company specializes in granite, quartz, and diamond cutting wire products.
12Nov 25
Midwest Reports Strong Q2 Performance; Subsidiary's Credit Rating Upgraded
Midwest announced robust Q2 FY2026 financial results with significant improvements across key metrics. EBITDA increased by 52% to ₹430 crore, while consolidated net profit surged 87% to ₹278 crore. Revenue grew by 14% to ₹1,600 crore. The company's subsidiary, Andhra Pradesh Granite (Midwest) Private Limited, received a credit rating upgrade from CRISIL, with its long-term rating improving to CRISIL A-/Stable from CRISIL BBB+/Positive, and short-term rating to CRISIL A2+ from CRISIL A2. The upgrade reflects APGMPL's improved financial profile and strong business performance.
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1,019.25
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675.85
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57.70
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27.28
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134.00
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164.90
(-1.55%)
12.14
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23.44
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4.67
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32.64
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