Midwest Ltd MIDWESTLTD
Granite and quartz miner with heavy-mineral-sand exploration licences in Sri Lanka; sister concern of the Midwest magnet venture
Mapped in 1 theme: Rare-Earth Magnets (REPM).
Where Midwest Ltd sits in the supply chain
Midwest Ltd appears in 1 supply-chain layer in one theme, Rare-Earth Magnets (REPM).
Rare-Earth Magnets (REPM) › Beach-sand monazite mining
Emerging entrantOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 586 | 626 | 646 |
| Net profit | 100 | 133 | 106 |
Latest-year revenue ₹646 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Holds four heavy-mineral-sand exploration licences in Sri Lanka, with operations targeted for FY27 pending environmental clearance (company website) - a possible non-Indian monazite source
- Group link to India's furthest-advanced private magnet project
Risks
- Revenue today is black granite and quartz - rare earths are not yet a business line
- The magnet plant sits in sister group entities (Midwest Energy / MAM), not under the listed company
Common questions
What does Midwest Ltd do?
Granite and quartz miner with heavy-mineral-sand exploration licences in Sri Lanka; sister concern of the Midwest magnet venture.
Where does Midwest Ltd sit in the supply chain?
Midwest Ltd (NSE: MIDWESTLTD) is mapped in 1 supply-chain layer: Beach-sand monazite mining (Rare-Earth Magnets (REPM)).
Who are Midwest Ltd's peers?
In the Beach-sand monazite mining layer of Rare-Earth Magnets (REPM): IREL (India) Ltd (not NSE-listed) and Kerala Minerals and Metals (KMML) (not NSE-listed).
What is Midwest Ltd's market cap and valuation?
As of 30 Oct 2026: market cap ₹3,830 Cr, P/E 34.5x, ROCE 15.8%, ROE 13.6%, dividend yield 0%.