Midwest Ltd (MIDWESTLTD) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Midwest was incorporated on December 11, 1981 at Hyderabad in the erstwhile state of Andhra Pradesh, India as ‘Midwest Granite Private Limited’, a private limited company under the Companies Act, 1956 and was granted a certificate of incorporation by the Registrar of Companies, Andhra Pradesh at Hyderabad.

The company has decades of legacy in dimensional natural stone (i.e., naturally occurring stones) industry with experience in exploration, development and operation of mines, stone processing and fabrication, sales, distribution and marketing of various types of natural stone. It is engaged in the business of exploration, mining, processing, marketing, distribution and export of natural stones, with an emphasis on sustainability. It is India’s largest producer and exporter of Black Galaxy Granite (a variety of Granite which is sparkling with flakes of a golden hue).  It is also the largest producer in Absolute Black Granite (a variety known for its remarkable surface finish) in India, both of which have high demand.

It places much emphasis on decarbonizing its operations to improve the sustainability of its business. Its mining operations are mechanized and incorporate advanced engineering and process optimization, aided by vertical integration of key operational components such as customized Diamond Wires. It beneficially leverages its experience and organizational capabilities to serve as an organized player in an otherwise unorganized sector with the objective of catering to the requirements of its customers, improving its processes, expanding its market reach and building its resource base.

Business area of the company

The company is engaged in the business of exploration, mining, processing, marketing, distribution and export of natural stones, with an emphasis on sustainability. It is India’s largest producer and exporter of Black Galaxy Granite (a variety of Granite which is sparkling with flakes of a golden hue).  It is also the largest producer in Absolute Black Granite (a variety known for its remarkable surface finish) in India, both of which have high demand.

Products of the company

Natural stone segments

• Black galaxy granite
• Absolute black granite

Mines

• Colour granite (Tan Brown)
• Quartz
• Marble

Awards, Accreditations and Recognitions

• 2008-2009: “Export Promotion Award” from Vishakhapatnam Special Economic Zone for the best export performance amongst 100% EOUs in granite sector in Andhra Pradesh.
• 2009-2010: “Export Excellence Award” from Vishakhapatnam Special Economic Zone for the best export performance amongst 100% EOUs in granite sector in Andhra Pradesh.
• 2010-2011: “Best Export Performance Award” from Vishakhapatnam Special Economic Zone in the category of Export Awards for EOUs in Andhra Pradesh, Chhattisgarh, Yanam.
• 2011-2012: “Best Export Performance Award” from Vishakhapatnam Special Economic Zone in the category of Export Awards for EOUs in Andhra Pradesh, Chhattisgarh, Yanam.
• 2012-2013: “Commendable Export Performance Award” from Vishakhapatnam Special Economic Zone in the category of Export Awards for EOUs in Andhra Pradesh, Chhattisgarh, Yanam: 
• 2012: “First Prize” in the category of Mine Inspection – A+ for Appointment of Qualified Personnel & Maintenance of Plants from Prakasam & Guntur Granite Mines at the 15th Mines Safety Week Celebration 2012.
• 2012: “Longstanding Customer Award” from Export Credit Guarantee Corporation of India Limited, Hyderabad branch
• 2014: “First Prize” in the category of Maintenance of Quarry Roads and Footpaths from Prakasam & Guntur Granite Mines at the 16th Safety Week Celebrations, 2014.
• 2017: “First Prize” in the category of Registers and Records and Maintenance of Plans from Prakasam & Guntur Granite Mines at the 18th Safety Week Celebrations, 2017.
• 2017: “Overall First Prize” from Prakasam & Guntur Granite Mines at the 18th Safety Week Celebrations, 2017.
• 2019: “First Prize” in the category of Publicity and Propaganda from Prakasam & Guntur Granite Mines, at the 19th Safety Week Celebrations, 2019.
• 2022: “First Prize” in the category of Appointment of Qualified Personnel from Prakasam & Guntur Granite Mines, under the Directorate General of Mines Safety at the 20th Mines Safety Week Observance, 2022
• 2022: “Overall Second Prize” from Prakasam & Guntur Granite Mines, under the Directorate General of Mines Safety at the 20th Mines Safety Week Observance, 2022.
• 2023: Its Material Subsidiary, APGM, received the Overall First Prize from Prakasam, Bapatla & Palnadu Districts Granite Mines at the 21st Mines Safety Week Celebrations - 2023 for its Mines in Chimakurthy, Andhra Pradesh.
• 2024: “Certificate of Recognition” as a Three Star Export House in accordance with Foreign Trade Policy, 2023, from Ministry of Commerce and Industry, Government of India
• 2024: Its Material Subsidiary, APGM, received the Second Prize in the category of Environmental, Management and Welfare Amenities from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations.
• 2024: Its Material Subsidiary, APGM, received the First Prize in the category of Publicity and Propaganda from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations.
• 2024: Its Material Subsidiary, APGM, received the Second Prize in the category of Registers and Records and Maintenance of Plans from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations.
• 2024: Its Material Subsidiary, APGM, received the Second Prize in the category of Mine Workings from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations.
• 2024: “Second Prize” in the category of Appointment of Qualified Personnel from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations. 
• 2024: “Second Prize” in the category of Environmental, Management and Welfare Amenities from Prakasam, Bapatla & Palnadu Districts Granite Mines, the safety committee appointed by the Director of Mines Safety at the 22nd Mines Safety Week Celebrations.

History and milestones

• 1981: Incorporated under the name of ‘Midwest Granite Private Limited’ and commenced business operations.
• 1988: Received a quarry lease for an Absolute Black Granite Mine in Arpanapally in the erstwhile state of Andhra Pradesh (now Telangana).
• 1994: Received a quarry lease for its first Black Galaxy Granite Mine in Chimakurthy in Andhra Pradesh.
• 2002: Incorporated its Subsidiary ‘Southasia Granite and Marble (Private) Limited’ and commenced raw granite stone processing in Sri Lanka.
• 2003: Incorporated its Subsidiary ‘Reliance Diamond Tools (Private) Limited’ and commenced manufacturing of Diamond tools in Sri Lanka for export.
• 2007: Incorporated its Material Subsidiary, Andhra Pradesh Granite (Midwest) Private Limited together with the Government of Andhra Pradesh for mining of Black Galaxy Granite.
• 2007: Won a global tender floated by the Government of Andhra Pradesh for a 48 acre block of Black Galaxy Granite.
• 2007: Recognition as an ‘Export House’ by the Ministry of Commerce, Government of India from April 1, 2007 to March 31, 2009.
• 2009: Recognition as a ‘Star Export House’ by the Ministry of Commerce, Government of India from April 1, 2009 to March 31, 2014.
• 2015: Received a quarry lease for a Black Granite Mine located in Kodad, Telangana.
• 2017: Received a quarry lease for a Black Granite Mine located in Theegalaveni, Telangana.
• 2017: The company qualified for empanelment by the National Mineral Exploration Trust, Ministry of Mines, Government of India, as an exploration entity.
• 2017: Incorporation of its Subsidiary, Midwest Neostone Private Limited, to carry out its operations for Quartz and silica.
• 2021: Completed shifting its Diamond Wire mining tools manufacturing operations from Sri Lanka to Hyderabad, Telangana, India.
• 2021: Established its first captive solar plant in Telangana.
• 2023: Established operations in Sri Lanka, through incorporation of its subsidiaries, Midwest Heavy Sands Private Limited and Trinco Mineral Sands Private Limited for mining of mineral sand.
• 2023: Its Material Subsidiary, Andhra Pradesh Granite (Midwest) Private Limited, was upgraded to a ‘Three Star Export House’ by the Ministry of Commerce, Government of India.
• 2024: Upgraded to a ‘Three Star Export House’ by the Ministry of Commerce, Government of India.
• 2025: Operationalization of Phase I of the Quartz Processing Plant.