JKB Financial Services Ltd.

As on : 08-Jan-2026

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08-Jan-2026 10:47

Midwest gains after securing Quarry lease order from AP govt

Under the order, the company has been permitted to undertake quarrying operations for the extraction of coloured quartzite blocks useful for cutting and polishing purpose. The lease cover an area of 21.012 hectares (51.92 acres) located at Hanumanthunipadu Village & Mandal in Prakasam, Andhra Pradesh for a period of 30 years, commencing from 06 January 2026 to 05 January 2056, subject to requisite statutory approvals and compliance with applicable conditions.

The estimated available marketable coloured quartzite block in the quarry is 609,620 cubic meters.

Midwest (ML) is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of black galaxy granite, a unique granite variety known for its sparkling golden flakes.

On a consolidated basis, Midwest's net profit rose 86.82% to Rs 27.78 crore while net sales rose 12.38% to Rs 158.69 crore in Q2 September 2025 over Q2 September 2024.

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