Natural Stone
- A legacy of over four decades of experience in the dimensional natural stone industry, covering exploration, mining, processing, sales, distribution, and marketing of various natural stones.
- Absolute Black Granite production accounted for 10.8% of the overall black granite production in India during Fiscal 2024.
- Our customers are located across 17 countries and five continents, with China, Italy and Thailand being primary export markets.
3.5 Million Tons of Granite mined annually
Contributing 10.8% of Black Galaxy Granite production in India
23% share of Black Galaxy Granite exports in 2024
We paid the highest royalties for Black Galaxy Granite from FY 2020 to 2024.
In FY 2024, we contributed ₹406 million, 31% of total Black Galaxy Granite royalty.
Strength in Numbers: Mines, Machinery, and Resource Depth
According to the CRISIL report, the specific requirements of the granite mining industry in India provide established players with a competitive advantage over new entrants.
20 Operational Mines producing at 19 locations across India
| Product | Proved Reserves | Blockable Reserves |
|---|---|---|
| Black Galaxy Granite (in cubic meters) | 30,778,909 | 6,873,065 |
| Absolute Black Granite (in cubic meters) | 9,140,399 | 1,880,992 |
| Colour Granite (Tan Brown) (in cubic meters) | 3,761,254 | 977,926 |
| Quartz (Million Tonnes) | 2.1 | Not applicable |
Market & Growth
- The Indian granite market is valued at $40 billion and plays a significant role in the economies of states like Andhra Pradesh and Tamil Nadu.
- Granite remains one of the most valued natural stones due to its durability, versatility, and aesthetic appeal. Midwest is recognized globally for its Black Galaxy Granite, contributing 35% of India’s total Black Galaxy granite exports.
- Midwest contributes 20% of the Black Galaxy granite production in India, holding a 35% share in export volumes.
- Domestic demand for granite in India grew at a 9.3% CAGR between fiscal 2022 and 2024, driven by rising demand in construction and residential sectors.
- Export markets include the US, Europe, and Asia. India remains a net exporter, with granite export volumes consistently outpacing imports.
Products
- Exclusive Source: Sourced from a single village in Andhra Pradesh, India, the only location in the world producing Black Galaxy Granite.
- Premium Demand: Commands global demand with prices ranging between ₹50,000–1,00,000 per cubic meter.
- Production Highlights:
- Produced 57,519 cubic meters in Fiscal 2024.
- Exported 48,249 cubic meters during the same period.
- Industry Leadership: Midwest contributed ₹406 million in royalties during FY 2024, 31% of the total royalty paid for Black Galaxy Granite.
- Future Expansion: Developing an additional mine over 10.94 hectares, adjacent to existing operations in Chimakurthy, Andhra Pradesh, to meet growing demand.
Applications
- Kitchen counters
- Floor tiles
- Bathroom vanities
- Window sills
- Back splashes
- Fireplace wraps
- Accent walls
- Sculptures
- Coffee tables
- Steps and facades
Projects
Longxi Bay No.1 Housing Estate, Ganzhou City, Jiangxi Province 8, CHINA
Sustainability Measures
- Midwest has begun a shift from diesel to electricity and solar power in its granite mining operations, reducing greenhouse gas emissions.
- Electrification of machinery and the use of solar power plants have decreased dependency on non-renewable resources.
- Solar power plants have been installed to meet energy needs, reducing carbon footprint and enhancing energy resilience.
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