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Midwest

Q2 FY26Consumer Durables

Midwest Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹1,149
Market cap₹4.1K Cr
P/E37.2
Updated26 Aug 2026
Read4 min read

The short version

Granite segment expected to maintain consistent growth similar to past years. Midwest Limited aims for consistent revenue growth in the granite segment, maintaining past growth rates.

From Midwest's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

  • Granite segment expected to maintain consistent growth similar to past years.
  • Quartz business to contribute revenue starting FY26 with Phase 1 production; Phase 2 to be commissioned by FY27.
  • Quartz capacity utilization targeted at 60-70% during FY26, increasing to 80-85% in FY27.
  • Expansion plans include two new mines expected to add to granite volume growth, though partially in FY26.
  • Heavy Mineral Sands (HMS) and rare earth segments to start contributing revenue from FY28.
  • Overall production expected to more than double in coming years due to expansion projects.

2 more points from Midwest's call on revenue

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Profitability & Margins

See what Midwest said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Commissioned Phase 1 Quartz plant with 3,03,000 tons per annum capacity; Phase 2 planned for FY27 with similar capex (~INR125-130 crores).
  • Heavy Mineral Sands (HMS) plant to be built starting next quarter, funded from internal accruals; expected commissioning within 15 months.
  • Solar energy plants being installed near mines; 1 MW plant operational, additional units to be operational by next half of the year to reduce energy costs.
  • Transition to electric vehicles for mining trucks, expected savings of INR20 lakhs per truck annually.
  • Capitalization of around INR100+ crores done so far from IPO proceeds; remaining capex for capacity doubling and solar planned mainly within next 12-15 months.

2 more points from Midwest's call on capex

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Top-ranked in Consumer Durables

Ranked on what management guided this quarter

Guidance-ranked
1Nanta Tech
Rev 1Mar 1
2Visdem Technosys
Rev 1Mar 1
3
Rev 1Mar 2
4
Rev 1Mar 2
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Midwest said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Some insights can be inferred: - The company is ramping up production in new segments like quartz and heavy mineral sands, indicating upcoming order fulfillment capacity. - Projects like the HMS facility and rare earth oxides processing are on track to be commissioned within 15-20 months.

2 more points from Midwest's call on order book

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Midwest — Quarterly revenue & net profit

Revenue Net profit
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27

Reported quarterly figures (₹ Cr). Latest (Q1 FY27): revenue ₹192 Cr, net profit ₹31 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 Q2 FY26 results?

Granite segment expected to maintain consistent growth similar to past years. Midwest Limited aims for consistent revenue growth in the granite segment, maintaining past growth rates.

What is Midwest share price analysis?

Midwest currently shows a neutral. 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 planning capital expenditure?

Commissioned Phase 1 Quartz plant with 3,03,000 tons per annum capacity; Phase 2 planned for FY27 with similar capex (~INR125-130 crores).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.