Midwest IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 15 Oct ‘25 – 17 Oct ‘25 | ₹14,196 | 14 | ₹1,014 – ₹1,065 |
About Midwest
Midwest Limited is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones, with over four decades of experience in the dimensional natural stone industry. The company is primarily involved in the production of black galaxy granite and absolute black granite, which are used in applications such as flooring, countertops, cladding, and monuments. In addition to natural stone, Midwest manufactures diamond wire, a precision cutting tool used in mining and construction, and has recently commenced operations in quartz processing. The company operates 16 granite mines across Telangana and Andhra Pradesh, along with one granite processing facility in each state. It also has a resource base spread across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. The diamond wire manufacturing facility is located in Hyderabad, Telangana, while the quartz processing plant is situated at Annangi Village in Prakasam District, Andhra Pradesh.
Founded in : 1981
Managing director : Mr Kollareddy Ramachandra
Parent organisation : Midwest Ltd
| Issue Size | IPO Doc |
|---|---|
| 451.00Cr | RHP PDF |
Midwest IPO Review: Operational & Financial Performance
Midwest’s financial trajectory over FY 23–25 showcases steady top-line growth and remarkable improvement in profitability, reflecting strong cost control and capital efficiency.
A. Financial Highlights
| Metric | FY 2023 | FY 2024 | FY 2025 | Q1 FY 2026 |
|---|---|---|---|---|
| Revenue | 502.5 | 585.6 | 626.2 | 142.3 |
| Expenses | 443.5 | 465.5 | 490.9 | 113.6 |
| Net Income | 54.4 | 100.3 | 133.3 | 24.4 |
| Net Margin (%) | 10.8 | 17.1 | 21.3 | 17.1 |
| EBITDA Margin (%) | 17.8 | 25.9 | 27.4 | – |
| ROCE (%) | 14.4 | 25.0 | 18.8 | – |
| ROE (%) | 16.2 | 23.8 | 22.1 | – |
| Debt/Equity | 0.45 | 0.29 | 0.43 | 0.47 |
| Interest Coverage (times) | 7.5 | 14.1 | 13.4 | 8.7 |
Figures in INR Crores unless specified otherwise