Midwest IPO Listing: Sri Lanka Project to Power EVs & Renewables | Strong Margins, Big Growth Ahead!　 #ETNOW

Midwest’s Sri Lanka heavy mineral sands project could be a major margin booster, says CEO Ramachandra Kolareddy and Director Uma Kolareddy. The project will extract titanium feedstock and rare earths, key materials for EVs, renewables, and defense. With industry margins above 40%, Midwest expects strong profitability once the project turns operational. The company has doubled debt to fund Phase 1 & 2 quartz expansion, catering to solar glass and engineered stone demand. FY26–27 outlook remains upbeat, driven by quartz, HMS, and export growth.

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