About Midwest Limited
Midwest Limited, established in 1981, is one of India’s leading natural stone exploration and mining companies. The company is engaged in the exploration, mining, processing, marketing, distribution, and export of premium granite varieties. It is the exclusive producer and exporter of Black Galaxy Granite, a globally renowned stone recognized for its distinct golden sparkle. Midwest currently operates 16 granite mines across Telangana and Andhra Pradesh, producing a variety of granite types such as Black Galaxy, Absolute Black, and Tan Brown. The company also has two granite processing facilities, one each in Telangana and Andhra Pradesh, enabling large-scale, high-quality finishing and value addition. With a strong focus on resource expansion, Midwest has identified 25 additional mining locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu to ensure sustainable long-term operations.
Global Presence
Midwest has built a solid export network, serving customers across 17 countries on five continents. Its primary export destinations include China, Italy, and Thailand, with notable clients such as MP Steneko AB (Sweden), GI-MA Stone SRL (Italy), Quanzhou Xingguang Stone Co. Ltd. (China), and King Marble & Granite Co. Ltd. (Thailand).
As of June 30, 2025, the company employed 1,326 personnel, including 475 permanent employees, 822 contract workers, and 29 consultants reflecting a robust operational capacity. Financially, the company has showcased consistent growth, with revenue rising by 7% and PAT increasing by 33% in FY25 compared to FY24. Midwest’s strong financials, sustainable mining model, and global reputation make it one of the key players in India’s granite export industry.
Why To Invest in Midwest Limited
Strong Industry Position – Midwest is one of India’s largest exporters of Black Galaxy Granite, with a well-established brand presence in international markets.
Global Export Footprint – The company exports to 17 countries, ensuring diversified revenue streams and reduced market risk.
Consistent Financial Growth – Between FY24 and FY25, the company’s revenue and PAT grew by 7% and 33%, respectively, indicating financial stability.
Sustainable Expansion Plans – Midwest has identified 25 new resource locations for future mining, strengthening its long-term growth outlook.
Attractive Financial Metrics – With a ROE of 19.42%, ROCE of 18.84%, and low debt-to-equity ratio of 0.43, the company exhibits efficient capital utilization.
Utilization of IPO Proceeds – Funds raised will be used for capacity expansion (Phase II Quartz Plant), purchase of electric dump trucks, solar energy integration, and partial debt repayment, further improving operational efficiency and ESG alignment.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,082.81 | 1,058.70 | 757.12 | 656.00 |
| Total Income | 146.47 | 643.14 | 603.33 | 522.23 |
| Profit After Tax | 24.38 | 133.30 | 100.32 | 54.44 |
| EBITDA | 38.97 | 171.78 | 151.44 | 89.59 |
| NET Worth | 577.03 | 553.69 | 421.93 | 334.92 |
| Reserves and Surplus | 625.60 | 602.26 | 484.86 | 408.88 |
| Total Borrowing | 270.11 | 236.61 | 120.48 | 149.08 |
Explore Other Products
