Midwest Ltd
Midwest Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
2 of 5 strong
The short version
Granite revenue growth expected at around 10-12% for FY28, building on previous strong performances. - Quartz business to grow from approx. Midwest Limited aims to translate multiple growth opportunities into numbers within the next 18 months via independent, significant teams.
From Midwest Ltd's Q1 FY27 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Granite revenue growth expected at around 10-12% for FY28, building on previous strong performances.
- Quartz business to grow from approx. INR120 crores in FY27 to INR180-200 crores in FY28 with further contributions from Phase 2 starting mid-next year.
- Quartz production volume stabilization targeted at 15,000 tons per month by Q4 FY27; break-even expected by Q3.
- Overall FY27 revenue guidance is conservative at approx. INR840 crores, with INR720 crores from granite and INR120 crores from quartz.
- Volume growth in key granite products (Absolute Black and Black Galaxy) around 10% year-on-year.
- Sri Lanka and Kerala projects expected to become significant revenue contributors post-policy clearances and government approvals; Sri Lanka plant construction projected to start Oct 2026 with operations 12-15 months later.
- Indonesia JV in early stages, with potential for sizable future contributions.
- Emphasis on parallel execution of multiple projects to translate growth opportunities into numbers within 18 months.
Profitability & Margins
See what Midwest Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Quartz business Phase 2 capex: Approximately INR 125 crores, split over current and next year (Pages 4, 7, 12).
- Sri Lanka project capex: Around INR 120-150 crores for plant building; build-out expected to start next quarter with 12-15 months plant build-out timeline (Pages 6, 7, 14).
- Kerala pilot plant capex: Insignificant cost as it's a pilot plant; Phase 2 pending government approval (Page 14).
- Indonesia rare earth project: Plans forming 2 JVs (mine to oxide by Midwest Limited, oxide to magnet by Energy); capex details evolving (Pages 15, 19).
- Ongoing electrification efforts in granite operations to reduce diesel costs (Page 9).
- Total capex planned around INR 800-900 crores across projects (Page 14).
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Fundraising & Capital Structure
See what Midwest Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Management expressed optimism about the current and expected order book.
- They aim to take on all mentioned opportunities in parallel with independent teams for each significant project.
- The goal is to translate these opportunities into measurable numbers within the next 18 months.
- The momentum in granite demand and volume increase is strong and expected to continue.
- For FY27, the revenue guidance is around INR 840-850 crores, with granite contributing ~INR 720 crores and quartz ~INR 120 crores.
- Orders appear robust with a 33% growth in granite and ~10% volume growth in key products like Absolute Black and Black Galaxy granite.
- The company plans to maintain or exceed 10-12% growth on granite for the next year conservatively.
- They are well-prepared operationally to handle external factors and continue order fulfillment smoothly.
Midwest Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹216 Cr, net profit ₹37 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Midwest Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Midwest Ltd Q1 FY27 results?
Granite revenue growth expected at around 10-12% for FY28, building on previous strong performances. - Quartz business to grow from approx. Midwest Limited aims to translate multiple growth opportunities into numbers within the next 18 months via independent, significant teams.
What is Midwest Ltd share price analysis?
Midwest Ltd currently shows a below-average growth signal. The stock trades at a P/E of 37.1 with a market cap of ₹4,126 Cr. Investors should review the full earnings analysis for detailed insights.
Is Midwest Ltd planning capital expenditure?
Quartz business Phase 2 capex: Approximately INR 125 crores, split over current and next year (Pages 4, 7, 12).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.