💰 Financial Performance

Revenue Growth by Segment

Standalone total revenue grew 65.7% YoY to INR 181.66 lakhs, though core turnover from operations fell 57.3% to INR 44.64 lakhs. Consolidated turnover was INR 77.58 lakhs.

Geographic Revenue Split

The company targets both domestic and international granite and marble markets; specific percentage split by region is not disclosed in available documents.

Profitability Margins

Standalone net profit margin declined by 633.17% to -8.83%. Operating profit margin was -391.20%, a 2.76% decrease from the previous year's -104.03%.

EBITDA Margin

Operating profit margin was -391.20% for FY 2024-25, compared to -104.03% in FY 2023-24, reflecting a significant decline in core profitability.

Credit Rating & Borrowing

Not disclosed in available documents; however, the Debt-Equity ratio was 0.31, a 127.18% change from the previous year's -1.16.

⚙️ Operational Drivers

Raw Materials

Imported marble and locally sourced granite blocks; specific cost percentages for each are not disclosed.

Import Sources

International markets for marble and local Indian sources for granite blocks.

Capacity Expansion

The company is actively pursuing new mining leases and prospecting licenses for gold and natural stones; specific MTPA targets are not disclosed.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but the company notes rising operational costs are driving up commodity prices globally.

Manufacturing Efficiency

Inventory turnover ratio was 0.78, representing a 12.10% improvement YoY.

📈 Strategic Growth

Growth Strategy

Applying for new mining leases, leveraging state-of-the-art technology (geologists, geophysicists), and strategically positioning in international marble markets to generate steady revenue.

Products & Services

Gold, natural stones, imported marble, and processed locally sourced granite blocks.

Brand Portfolio

Midwest Gold Limited.

New Products/Services

New mining projects for gold and natural stones are in the development and execution phase; specific revenue contribution percentages are not disclosed.

Market Expansion

Focusing on both domestic and international granite and marble markets to enhance business opportunities.

🌍 External Factors

Industry Trends

The global mining industry is seeing a surge in demand but faces rising operational costs, declining ore grades, and infrastructure shortages.

Competitive Landscape

The sector is characterized by intense competition and market challenges, making optimistic outlooks difficult to project.

Competitive Moat

Moat is based on the extensive experience of the Directors and access to a highly skilled team of geologists and mining engineers; sustainability depends on securing new mining leases.

Macro Economic Sensitivity

Highly sensitive to global supply and demand dynamics, international economic trends, inflation rates, and interest rate levels.

Consumer Behavior

Revenue is influenced by consumer demand levels for gold and natural stones.

Geopolitical Risks

Geopolitical events are cited as external factors beyond control that influence the market prices of gold and natural stones.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Mines and Minerals (Development and Regulation) Act, 1957 and subsequent amendments.

Environmental Compliance

Governed by a complex framework of government regulations related to environmental protection and land acquisition; specific costs not disclosed.

Taxation Policy Impact

Operations are affected by government regulations and taxation which impact demand and supply dynamics.

Legal Contingencies

No shareholder complaints were pending at the beginning or end of the year; no specific court case values were disclosed.

⚠️ Risk Analysis

Key Uncertainties

Speculative nature of mining exploration, requirement for multiple government approvals, and dependency on capital markets for funding due to lack of operational cash flow.

Third Party Dependencies

Heavy reliance on key personnel, contractors, and suppliers for project execution.

Technology Obsolescence Risk

Identified as a risk in the management framework; the company aims to mitigate this by leveraging state-of-the-art technology.

Credit & Counterparty Risk

Debtors turnover ratio of 1.41 (-50.47% YoY) suggests increased credit risk or slower collections from counterparties.