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Midwest Limited conducted an earnings conference call to discuss Q4 and FY26 performance. Key strategic updates include securing a new 30-year mining lease in Galaxy, leading to immediate production and revenue. The company is expanding into new export markets for granite blocks and is optimistic about dollar tailwinds. To manage rising fuel costs, Midwest Limited is investing in green EV initiatives and captive solar power.
The company is also progressing with its High Purity Quartz (HPQ) plant, aiming for commissioning in 10-12 months, with initial products for engineered stone and solar. A significant development is the partnership with Kerala Minerals and Metals Limited (KMML) to build a Rare Earths pilot plant, a first for a private company in handling monazite.
Financially, consolidated revenue for the last quarter was INR215 crore, primarily from granite. EBITDA stood at 27% and PAT at 17.16%. For the full year, revenue was INR645 crore (3% growth YoY) with EBITDA at 27.01% and PAT at 16.49%. The company reduced debt by INR50 crore and improved working capital days from 122 to 104.
Management highlighted that initial glitches in the new Quartz processing unit impacted full-year consolidated PAT, but expect this to stabilize. Granite margins are projected to remain stable. Future outlook includes significant contributions from the Phase 2 Quartz expansion and potential in Rare Earths and Heavy Mineral Sands. The company is confident in managing energy costs through green initiatives.
Investor sentiment appears positive with clear strategic direction and expansion plans.