MIDWEST LIMITED

Management reported a strong start to the fiscal year 2027, with revenue growth of 35%, EBITDA growth of 25%, and PAT growth of 27% compared to the same quarter last year. Despite facing volatility in diesel prices, management expressed satisfaction with the performance, particularly in the granite segment. The company generated approximately INR 5 crores in revenue from quartz production and aims to stabilize production at 15,000 tons per month. Management highlighted a significant MoU with Indonesia's state-owned PERMINAS for access to critical minerals, including rare earths, and noted progress on the Sri Lanka project, with necessary policies ratified. The company anticipates achieving revenue of around INR 840 crores for FY27, with a focus on maintaining margins despite cost pressures. Management also discussed ongoing projects and the potential for future growth in various segments, including quartz and granite.

Management highlighted strong growth and positive developments in key projects.