Midwest Ltd Q1 FY27 Earnings Call Transcript Released
Midwest Limited reported a 35% revenue growth in Q1 FY27. The company signed an MoU with Indonesia's PERMINAS for rare earth mineral access and expects to form a JV. Progress on the Sri Lanka project is also noted. FY27 revenue is projected at ₹840 crore, with granite contributing ₹720 crore and quartz ₹100-120 crore. EBITDA margin is anticipated at 26-27%.
The announcement includes strong financial performance, strategic international partnerships for critical minerals, and progress on significant projects, all of which are material to the company's future growth and profitability.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT. Key strategic developments like the MoU with PERMINAS for rare earth exploration and progress on the Sri Lanka project indicate positive future growth prospects. The FY27 revenue guidance also appears robust.
Midwest Limited has released the transcript of its Earnings Conference Call for the quarter ended June 30, 2026, which was held on August 13, 2026. The company reported strong performance for Q1 FY27 with revenue growth of 35%, EBITDA growth of 25%, and PAT growth of 27% compared to Q1 FY26. This growth was primarily driven by the granite business, despite increased diesel prices. The company also highlighted progress on its quartz business, aiming for a monthly throughput of 15,000 tons by year-end, with plans for increased production in subsequent quarters.
Significant developments include a Memorandum of Understanding (MoU) signed with Indonesia's state-owned company PERMINAS for exploration and mining of critical minerals, including rare earths. This MoU provides access to rare earth resources in Indonesia, with a focus on heavy rare earths like dysprosium and terbium, which are crucial for defense and aerospace applications. The company expects to convert this MoU into a Joint Venture agreement within the current quarter and form the JV in the next quarter.
Further updates were provided on the Sri Lanka project, where the policy framework has been finalized and ratified. Midwest Limited is awaiting final confirmation from the government to commence development, with project development expected to begin next quarter. The company also provided financial guidance for FY27, estimating revenues of approximately ₹840 crore, with granite contributing around ₹720 crore and quartz ₹100-120 crore. EBITDA margins are expected to be in the range of 26-27%, with potential improvement in FY28 as the quartz business scales up. Capex for the quartz Phase 2 project is estimated at ₹125 crore, spread over the current and next year, and for the Sri Lanka project, it is around ₹120 crore.
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Midwest Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Midwest Limited. Read the original for the full detail.