Midwest Ltd

Midwest Limited submitted a certificate to the BSE Limited and National Stock Exchange of India Ltd. regarding dematerialization/rematerialization of equity shares for the quarter ended September 30, 2026, as per Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, with KFin Technologies Limited acting as the Registrar and Share Transfer Agent.

Midwest Limited informed the BSE Limited and National Stock Exchange of India Ltd. that shareholders at the company's Annual General Meeting on September 28, 2026, approved the continuation of Mr. Rana Som as an Independent Director, notwithstanding his attaining the age of 75 years, and the change in designation of Mrs. Soumya Kukreti from Whole-Time Director to Non-Executive Director, effective September 1, 2026. Additionally, shareholders appointed M/s B S S & Associates, Company Secretaries, as Secretarial Auditors for a period of five years from 2026-27 to 2030-31.

Midwest Limited will close its trading window for designated persons and their immediate relatives starting October 1, 2026, in accordance with the Securities Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company’s code of conduct, with the window reopening after the announcement of unaudited financial results for the quarter ending September 30, 2026; the date of the board meeting to consider those results will be announced later.

Midwest Limited announced that it has accepted Letters of Intent (LOI) from The Andhra Pradesh Mineral Development Corporation Ltd. (APMDC) for working of granite quarry leases in Andhra Pradesh on a Raising-Cum-Sale Contract basis, covering three schedules: Sy. No. 162 (4.976 Ha) in Thumminda, Sy. No. L (4.948 Ha) in Sontinuru, and Sy. No. 73 (5.489 Ha) in Meelasathiwada. The commercial consideration for the contract has not been specified at this stage, and the project does not involve any related party transactions. The commencement date will be the date of issuance of the Letter of Award (LoA) following the completion of the tender process.

Midwest Ltd share price fell 5.16% to Rs 1115.0 after the company's net profit declined by 16.15% to Rs 31.04 crore, while revenue from operations reduced 11.11% to Rs 191.84 crore in Q2FY26 over Q1FY26. The market capitalization of Granites & Marbles industry group stocks on BSE stood at Rs 7983.44 crore, climbing 14.61%. It has slipped by 3.66% over last one week and dipped slightly by 5.78% in last one month while the market capitalization of Midwest Ltd has softened by 7.79% and 16.15% in the same period respectively. Profit before tax (PBT) of Midwest Ltd stood at Rs 42.05 crore in Q2 FY26, rallying 27.93% year-on-year, and tumbling by 17.11% quarter-on-quarter. EBITDA came in at Rs 43 crore, surging by 23.50% YoY and tanking 22.91% sequentially. Total expenses slightly declined by 8.46% to Rs 151.85 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 5.93 crore, jumping 21.02% YoY, while employee benefits expense was at Rs 15.43 crore, easing 6.12% YoY. For the TTM ended FY26, revenue from operations tick up 6.93% to Rs 626.18 crore, while net profit surged by 32.87% to Rs 133.3 crore, compared to previous TTM. EBITDA soared by 13614% to Rs 154.82 crore, and PBT surged 29.17% to Rs 178.01 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 87.31 crore in FY26, as against Rs 127.91 crore in FY25. Midwest Ltd slipped 2.29% in last one year, performing in line with the benchmark BSE Sensex which has softened by 2.83% during the same period.

Midwest Limited, formerly known as Midwest Granite Private Limited, announced that there were no deviations or variations in the utilization of proceeds from its Initial Public Offer, which raised Rs 2,500.00 million (excluding the Offer For Sale portion of Rs 2,010.00 million), during the quarter ended June 30, 2026, according to a filing with the BSE Limited and National Stock Exchange of India Ltd. on August 12, 2026.

Midwest Limited said its board approved the reappointment of M/s. Eswaraiah & Co., Chartered Accountants as Internal Auditor for the financial year 2026-27, and recommended the appointment of M/s. B S S & Associates, Practicing Company Secretaries, as Secretarial Auditors for a five-year term commencing from financial year 2026-27, subject to shareholder approval. The board also re-appointed M/s PKR and Associates LLP as Cost Auditor for financial year 2026-27.

Midwest Ltd share price slipped 1.03% to Rs 1175.7 after the company's net profit dropped 16.15% to Rs 31.04 crore, while revenue from operations reduced 11.11% to Rs 191.84 crore in Q2FY26 over Q1FY26. The market capitalization of Granites & Marbles industry group stocks on BSE stood at Rs 7976.79 crore, improving 14.61%. It has softened by 1.13% over last one week and softened by 3.35% in last one month while the market capitalization of Midwest Ltd has slipped by 2.99% and 11.18% in the same period respectively. Profit before tax (PBT) of Midwest Ltd stood at Rs 42.05 crore in Q2 FY26, rallying 27.93% year-on-year, and nosediving by 17.11% quarter-on-quarter. EBITDA came in at Rs 43 crore, surging by 23.50% YoY and tumbling by 22.91% sequentially. Total expenses marginally dropped 8.46% to Rs 151.85 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 5.93 crore, witnessing a sharp rise of 21.02% YoY, while employee benefits expense was at Rs 15.43 crore, ticking higher by 6.12% YoY. For the TTM ended FY26, revenue from operations grew marginally by 6.93% to Rs 626.18 crore, while net profit jumped 32.87% to Rs 133.3 crore, compared to previous TTM. EBITDA soared by 13614% to Rs 154.82 crore, and PBT surged 29.17% to Rs 178.01 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 87.31 crore in FY26, as against Rs 127.91 crore in FY25. Midwest Ltd inched up 3.03% in last one year, significantly outperforming the benchmark BSE Sensex which has eased by 3.04% during the same period.

Midwest Ltd announced that CRISIL Ratings Limited has reaffirmed its ratings on the company’s financial instruments, including Total Loan Facilities with a rating of Crisil A/Stable, Total Loan Facilities with a rating of Crisil A1, and a Corporate Credit Rating of Crisil A/Stable, all previously assigned. The reaffirmation of these ratings reflects the agency’s assessment of Midwest Ltd’s creditworthiness, with no enhancements, assignments, or withdrawals noted across any of the instruments.

Net profit of Midwest declined 24.63% to Rs 35.56 crore in the quarter ended March 2026 as against Rs 47.18 crore during the previous quarter ended March 2025. Sales declined 6.25% to Rs 215.81 crore in the quarter ended March 2026 as against Rs 230.19 crore during the previous quarter ended March 2025. For the full year,net profit declined 14.35% to Rs 104.85 crore in the year ended March 2026 as against Rs 122.41 crore during the previous year ended March 2025. Sales rose 3.10% to Rs 645.62 crore in the year ended March 2026 as against Rs 626.18 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales215.81230.19 -6 645.62626.18 3 OPM %27.0332.43 -27.0127.43 - PBDT59.1273.51 -20 174.75177.81 -2 PBT50.7365.70 -23 143.73152.22 -6 NP35.5647.18 -25 104.85122.41 -14 Powered by Capital Market - Live