Midwest Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 31 May 2026 | Consumer Durables | Market Cap: ₹4.4K Cr
Granite segment expected consistent growth of 10%-13% annually. Granite segment expected to grow consistently at 10%-13% annually; previous years showed slightly better growth.
From Midwest Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,141
Market Cap
₹4.4K Cr
P/E Ratio
41.5
Revenue Rank
Margin Rank
How does Midwest Ltd rank in Consumer Durables?
Compare Midwest Ltd against every Consumer Durables company this quarter on revenue, margins and earnings-call signals.
Midwest Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹216 Cr, net profit ₹37 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 3- →Granite segment expected consistent growth of 10%-13% annually.
- →Overall consolidated revenue grew from INR626 crore to INR645 crore, a 3%+ growth.
- →Logistics issues in late March 2026 caused a revenue dip of ~INR25 crore, expected to be resolved.
- →Quartz production capacity aimed at 60% utilization this fiscal year, with month-on-month volume increases (targeting 10,000 tonnes this quarter).
- →Phase 2 Quartz plant under construction, expected commissioning in Q4 FY26 with revenue from next year onwards.
- →High Purity Quartz (HPQ) production anticipated beginning a quarter post Phase 2 commissioning.
- →HMS project in Sri Lanka and KMML project anticipated to generate INR350-400 crore and INR200 crore respectively over next 3-4 years.
- →Total revenue projected to increase 2.5x in 3-4 years combining granite, Quartz, HMS, and other projects.
📈 Profitability & Margins
Rank 3- →Granite segment expected to grow consistently at 10%-13% annually; previous years showed slightly better growth.
- →Quartz segment currently stabilizing; Phase 2 expansion underway with capex of ~INR130 crores, expected commissioning by Q4 FY26, contributing from next year.
- →New Rare Earth projects (with KMML) and oxide production anticipated to add significant value over next 3-4 years.
- →FY26 consolidated revenue grew by 3%+ to INR645 crores; overall EBITDA and PAT margins stable with slight improvement in granite margins.
- →Initiatives to reduce fossil fuel dependency via EV fleet and captive solar plants aim to lower costs, potentially enhancing margins.
- →Company targets 2.5x top-line growth in 3-4 years driven by granite, quartz, and rare earth segments.
- →Logistics and supply chain challenges previously impacted Q4 revenue but expected to normalize, supporting smoother growth.
- →Stable granite margins and improving Quartz profitability expected to sustain or improve operating profits.
🏗️ Capital Expenditure Plans
Yes- →Investing INR20 crores in a mobile pilot plant for oxide production with Kerala mining association; post-proving, plan to shift plant to Sri Lanka (Page 19).
- →Second phase Quartz plant expansion underway; capex around INR125 - 130 crores, expected commissioning by Q4 2026, with production starting Q1 2027 (Page 6).
- →Building pilot Rare Earth oxides plant with KMML in Kerala; 6-month project starting July 2026, allocated budget ~INR20 crores (Page 4).
- →Plans for solar plant capacity addition, including 0.6 MW captive plants to enhance renewable energy use and reduce fossil fuel dependency (Page 12).
- →Commercial heavy mineral sands (HMS) plant in Sri Lanka targeted post government policy approval expected by June/July 2026; plant build time about 9-12 months (Page 12).
- →Focus on organic growth through new mines and expanding existing operations; inorganic growth only if strategic opportunities arise (Page 13).
💰 Fundraising & Capital Structure
No information- →The management did not explicitly mention any immediate or planned fundraising through debt or equity during the call.
- →They are currently focused on studying the Production Linked Incentive (PLI) scheme and assessing cash flows and budgets for the next year before providing any updates.
- →Investment of INR 20 crores is underway for a pilot mobile oxide production plant in Kerala, with a plan to possibly shift it to Sri Lanka after proving the process.
- →Capex of INR 125-130 crores is planned for Phase 2 of the Quartz plant expansion, expected to commission by Q4 FY26, but no mention that this will be funded through new fundraising.
- →The company is monitoring for strategic growth but has not disclosed any definitive plans for raising capital at this stage.
📋 Order Book & Pipeline
No informationKey Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Midwest Ltd Q4 FY26 results?
Granite segment expected consistent growth of 10%-13% annually. Granite segment expected to grow consistently at 10%-13% annually; previous years showed slightly better growth.
What is Midwest Ltd share price analysis?
Midwest Ltd currently shows a below-average growth signal. The stock trades at a P/E of 41.5 with a market cap of ₹4,356 Cr. Investors should review the full earnings analysis for detailed insights.
Is Midwest Ltd planning capital expenditure?
Investing INR20 crores in a mobile pilot plant for oxide production with Kerala mining association; post-proving, plan to shift plant to Sri Lanka (Page 19).
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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.