Midwest

BSE: MIDWESTLTD · Granites & Marbles

52W Range₹1,049 ₹1,860

Snapshot

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Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Midwest Ltd is a vertically integrated natural stone and mining company established in 1981. The company specialises in the exploration, mining, processing, and export of granite, with a specific focus on Black Galaxy and Absolute Black varieties, alongside operations in quartz and heavy mineral sands.

Business Model

The company generates revenue through the end-to-end value chain of natural stone production, ranging from raw material extraction to the distribution of processed products. It leverages its mining capabilities to supply both domestic and international markets.

Growth Outlook

Growth is driven by the company's expansion into emerging segments such as heavy mineral sands and continued dominance in the premium granite market. The firm aims to leverage its integrated operational model to capture further market share in the natural stone industry.

Key Risks

  • Regulatory and Environmental Compliance. Mining operations are subject to stringent environmental regulations and government licensing, which can lead to operational disruptions.
  • Commodity Price Volatility. Fluctuations in global demand and pricing for natural stones and minerals directly impact the company's profit margins.
  • Geopolitical and Export Risks. As an exporter, the company is exposed to international trade barriers, currency fluctuations, and geopolitical instability in key markets.

Price

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Peers · Granites & Marbles

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MidwestMIDWESTLTD
4,44827.0%
PokarnaPOKARNA
2,67138.2618.44-38.5%33.2%10.1%12.0%-2.1%

As of Mar 2026

Financials