Midwest Ltd.
NSE: MIDWESTLTD
Size band
Small cap
Market cap
4,553cr
P/E
51.5
ROE
19.7%
No price is shown on this page, live or delayed. It records what management said on the earnings call, and the company’s filings.
What management said
14 statements on recordEarnings call · Q1 FY27 · 20 Aug 2026
- FY27 revenue→around INR840 crores against past year's number of INR645 crores· FY27
“FY27 we will be close to -- we are estimating around INR840 crores against past year's number of INR645 crores.”
- FY27 segment revenue→INR720 crores from granite and INR100 crores, INR120 crores from quartz· FY27
“Estimated revenues for the year FY27 is approximately INR840 crores, out of which INR720 crores will come from granite and INR100 crores, INR120 crores will come from quartz.”
- Granite EBITDA margin→50 bps to 100 bps kind of a range, in the same lines as last years· FY27
“We will be we will be like maybe a 50 bps to 100 bps kind of a range, we will be in the same lines as last years.”
- Quartz production volume→around 120,000 tons· FY27
“We will not be able to do -- we are not doing 150,000 tons, we will be doing around 120,000, so that is the effect of that.”
- Quartz production ramp-up→around 20,000 this quarter; run rate of 10,000 by end of this quarter; 10,000 to 12,000 next quarter; Q4 exceeding 15,000· FY27
“So this quarter we are looking at around 20,000 and the next quarter by the end of this quarter, we will be able to touch a run rate of 10,000. So next quarter, you can do 10,000 to 12,000. I think Q4, we will be exceeding 15,000. That's the plan.”
- Quartz break-even production run-rate→10,000 tons on a monthly basis· End of Q2 FY27 / Q3 FY27
“The quartz break-even, I think we will be breaking even when we touch a production of 10,000 tons on a monthly basis. I think that is what we will be doing sometime end of this quarter, next quarter for sure.”
- Quartz Phase 1 revenue→Around 180 to 200· FY28
“Around 180 to 200.”
- Quartz Phase 1 and Phase 2 revenue→anywhere between 200 to 230, 240· FY28
“I think we are targeting 200 plus definitely for next financial year. That number could be anywhere between 200 to 230, 240, let's look at it.”
- EBITDA margin→quartz close to 30%, little above 30%; overall blended around 29%, 30%· FY28
“EBITDA would be close to 30%, little above 30%. And overall blended EBITDA might be around 29%, 30%.”
- Quartz capex→approximately INR125 crores· Current year and next year
“Capex on quartz would be approximately INR125 crores.”
- Quartz Phase 2 capex outflow→INR60 crores to INR70 crore in the next two quarters· Q2 and Q3 FY27
“Q2 and Q3 you will have significant outflow that we have planned for out of INR125 crores approximately INR60 crores to INR70 crore would be spent in the next two quarters.”
- Sri Lanka project capex→around INR120 crores
“Sri Lankan project for plant building it's around INR120 crores.”
- Quartz Phase 2 commissioning→within the next 10 to 12 months· Next 10 to 12 months
“So we will be in line to commission the Phase 2 in the next within the next 10 to 12 months.”
- Sri Lanka plant build-out and operations→12 to 15 months· From around October
“So I think from that point of time, we should look at 12 to 15 months for the plant build-out and start operations.”
Taken from management commentary on the company’s earnings call and quoted verbatim. These are statements of intent made by the company, not forecasts by Bharatstox, and nothing here records whether they were met.
On air
1 call · outcomes not trackedRecorded as stated on air, with the analyst's SEBI registration status where it was given. Anchor calls carry no registration and are marked. Bharatstox does not make, endorse or repeat these calls, and none of them is our view.
| Channel & show | Aired | Stated target | Stated stop | Outcome |
|---|---|---|---|---|
| Zee BusinessZee Business · no registration attached | 12 Aug | +4.6% | -3.5% | still open |
Shareholding
change across 4 filings| Category | Jun 26 | Mar 26 | Dec 25 | Oct 25 | Change |
|---|---|---|---|---|---|
| Promoters | 77.1 | 77.1 | 77.1 | 77.1 | 0.0 |
| Foreign institutions | 3.9 | 4.4 | 4.7 | 2.1 | +1.8 |
| Domestic institutions | 14.6 | 13.8 | 13.7 | 12.5 | +2.1 |
| Retail & others | 4.4 | 4.7 | 4.5 | 8.3 | −3.9 |
As filed with the exchange for the periods ending Oct 25 to Jun 26.
Filings
latest 25 of 72- Outcome of Board Meeting15 Oct 2026
- Disruption of Operations7 Oct 2026
- Certificate under SEBI (Depositories and Participants) Regulations, 20187 Oct 2026
- Change in Management29 Sept 2026
- Shareholders meeting29 Sept 2026
- Shareholders meeting28 Sept 2026
- Updates8 Sept 2026
- In Compliance with Regulation 36 (1) (b) of the SEBI LODR Regulations, 2015, Company has sent a physical letter containing the Web- Link to access the 45th Annual Report of the Company ....8 Sept 2026
- Copy of Newspaper Publication8 Sept 2026
- Newspaper Publication8 Sept 2026
- Shareholders meeting7 Sept 2026
- BRSR7 Sept 2026
- Annual Report7 Sept 2026
- Copy of Newspaper Publication3 Sept 2026
- Intimation of Newspaper Publication of 45th Annual General Meeting of the Company3 Sept 2026
- Bagging/Receiving of orders/contracts31 Aug 2026
- The Company has accepted LOI''s for working of Quarry Leases in Andhra Pradesh on Raising Cum Sale Basis.31 Aug 2026
- Analysts/Institutional Investor Meet/Con. Call Updates20 Aug 2026
- Transcript for the earnings call held on 13th August, 2026.20 Aug 2026
- Analysts/Institutional Investor Meet/Con. Call Updates13 Aug 2026
- Investor Presentation13 Aug 2026
- Copy of Newspaper Publication13 Aug 2026
- Statement of deviation(s) or variation(s) under Reg. 3212 Aug 2026
- Monitoring Agency Report12 Aug 2026
- Change in Auditors12 Aug 2026
The 25 most recent of 72 filings we hold for MIDWESTLTD, back to January 2024. Every filing, by day.
Disclaimer
Guidance is quoted from management commentary on quarterly earnings calls; the words are the company's own and the targets are theirs, not ours. Broadcast calls are reproduced as stated on air, attributed, with the analyst's SEBI registration status where given; they are not our calls and not our view. Filings are reproduced as companies filed them to the NSE and BSE; Bharatstox does not verify, endorse or comment on their contents. This page is for informational and educational purposes only and does not constitute investment advice, research, or a recommendation to buy or sell any security. Investing in securities markets is subject to market risks. Read all related documents carefully before investing.