ALFA Finder| Management target | Revenue 150.0% |
|---|
| Revenue growth | Q2 revenue +15% YoY, PAT ~9%; H1 revenue +24%, PAT ~17%. |
|---|---|
| Margins | Granite H1 margin ~18%; quartz H1 EBITDA ~12%, Q2 one-off boosted. |
| Demand visibility | Quartz demand anchored by one large domestic customer; exports deferred. |
| Management confidence | Confident on long-term targets; defensive on negative operating cash flow. |
Growth
Q2 revenue +15% YoY, PAT ~9%; H1 revenue +24%, PAT ~17%. Q2 quartz EBITDA lifted by one-off recovery of scrapped material.
Outlook
Quartz ~₹90 Cr FY27 revenue (comfort); 2.5x revenue, 3x profit, 35% ROCE in 3-4 years on ₹300 Cr capex.
Risks
Negative H1 operating cash flow from receivables push and inventory build; KMML stalled on Kerala government transition.
Last quarter's promises, checked
Delivered
- Q2 quartz 10-12k t/mth run-rate → 16k t (= BEAT)
- Granite H1 growth ~12% → volume +14% (= BEAT)
Partly delivered
- Granite Q2 growth ~12% → Q2 volume ~7% (= PARTIAL)
- Quartz profit this FY → H1 EBITDA ~12%, Q2 one-off boosted (= PARTIAL)
- FY27 revenue ₹840 Cr (~30% growth implied) → H1 +24% YoY (= PARTIAL)
Missed
- Quartz FY27 ₹100-120 Cr → ~₹90 Cr (= MISS)
- Granite EBITDA 26-27% → H1 ~18% (= MISS)
- KMML activity next quarter → stalled (= MISS)
Earnings Call Transcript filed with NSE, NSE: MIDWESTLTD. Summary written with AI assistance from the document.
Midwest Ltd: key numbers
- Share price
- ₹987.50
- Market cap
- ₹3,571 Cr
- Revenue (annual)
- ₹645.6 Cr
- Net profit (annual)
- ₹104.8 Cr
- P/E (TTM)
- 31.7×Sector 33.4×
- Promoter holding
- 77.12%+0.00% QoQ
- FII holding
- 3.84%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Midwest Ltd
All →Midwest Q2 FY27 Results: Net Profit ₹30.2 Cr, Up 9.0% YoY
Midwest Ltd reported revenue from operations of ₹182.5 Cr (+15.0% YoY) and net profit of ₹30.2 Cr (+9.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹30.2 Cr · +9.0% YoY
Midwest Board Meeting Date
Midwest Limited has scheduled a board meeting for November 10, 2026. The board will consider and approve the company's standalone and consolidated financial results.
Midwest Other Announcement
Midwest Ltd filed its quarterly shareholding pattern for the quarter ended 30 September 2026. Promoters hold 77.12% of equity; public holds 22.88%.
Midwest Other Announcement
Midwest Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026. The report details the promoter and public shareholding information.
Midwest Adverse Business Impact
Midwest Ltd's Chimakurthy granite mine faces a DGMS prohibitory order halting extraction after a side collapse. Operations are suspended until the danger is removed, with no fine imposed.
Midwest Annual General Meeting
Midwest Limited held its 45th Annual General Meeting on September 28, 2026. The meeting transacted ordinary and special business, including adoption of annual financial statements.