Midwest Ltd

Midwest Ltd Expands Mining Portfolio & Reports Q3 Growth 📊

- Q3 revenue: ₹128 crores, up 10% YoY; EBITDA margin at 23.7%

- New 10.9-hectare Black Galaxy granite mine acquired in Andhra Pradesh, production starts this quarter

- New quartzite mine lease secured for Grey Quartzite, commercialization planned in 9-12 months

- Quartz Phase 2 expansion and high-purity quartz integration commissioning by Q3/Q4 next year

- Heavy Mineral Sands Phase 1 targets 150,000 tons output capacity, potential revenue ₹350-400 crores

- Double-digit volume growth expected beyond 2030

- Nine electric trucks operational; prototyping for electric excavators underway

- Captive solar power expansion planned

- Exploring HMS opportunities in Sierra Leone and evaluating PLI scheme for rare-earth magnets