Midwest Advanced Materials

A private Hyderabad company of the Midwest Business House building an integrated sintered NdFeB magnet plant that starts from rare earth oxide, using molten-salt electrolysis metallization technology from India's NFTDC, with an initial nameplate of 500 t/yr of magnets.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

The December 2025 first-product target stated in June 2025 passed without a reported start; the newer mid-October 2026 target had not been confirmed as met by October 19, 2026.
No binding customer offtake has been announced; the company says samples are under test with OEMs.
No IREL supply contract or volume has been published; the Ministry of Heavy Industries RFP gives IREL's NdPr oxide capacity as 400 t/yr and calls its availability indicative and non-binding.
The company has said its first magnets will cost 20% to 25% more than Chinese imports.
The REPM scheme bid filed by the Midwest Energy-MAM joint venture had not been awarded as of October 19, 2026.

At a glance

Founded: 2022 — Incorporated May 11, 2022 as a private limited company (CIN U73100TG2022PTC162511). Part of the Hyderabad-based Midwest Business House (group founded 1981), whose sister company Midwest Ltd mines granite and holds rare earth interests in India, Sri Lanka and Indonesia.
Headquarters: Banjara Hills, Hyderabad, Telangana, India
Ownership: Private; described by Business Standard (June 2025) as a Kollareddy family-owned company and a sister concern of Midwest Ltd (NSE: MIDWESTLTD; BSE: 544587). No filing found shows MAM as a Midwest Ltd subsidiary.
Stage: Developing. TDB-backed (INR 125 crore of an INR 250.86 crore project) 500 t/yr oxide-to-magnet plant in Hyderabad was being commissioned in September 2026; no commercial output had been confirmed by October 19, 2026.
Listing: Private. Private company of the Midwest Business House. Sister company Midwest Ltd is listed on NSE (MIDWESTLTD) and BSE (544587) since October 2025, but MAM is described as a sister concern, not a subsidiary, so no ticker is attributed.
Revenue: Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Sintered NdFeB magnets, Hyderabad plant, initial phase	500 t/yr finished magnets (nameplate)	Under construction	Sep 2026
Rare earth oxide feed required for the initial phase	about 150-170 t/yr rare earth oxide (company/NFTDC estimate)	Announced	Jun 2025
Sintered NdFeB magnets, expansion target	5,000 t/yr finished magnets (target, December 2027)	Announced	Sep 2026

Narrative

Midwest Advanced Materials Pvt Ltd (MAM) was incorporated in Hyderabad on May 11, 2022 and belongs to the Midwest Business House, a group founded in 1981 whose listed company, Midwest Ltd, has traded on India's NSE and BSE since October 2025. MAM is described as a sister concern of Midwest Ltd, not as its subsidiary. In May 2024 India's Technology Development Board (TDB) announced support for MAM's project to make neodymium materials and sintered rare earth permanent magnets for e-mobility; a government portal lists TDB assistance of INR 125 crore toward a project budget of INR 250.86 crore. The plant uses a molten-salt electrolysis metallization process transferred from NFTDC, a government materials research institute in Hyderabad, and starts from rare earth oxide, so it covers metal, alloy, sintered magnet and finishing in one site. The stated initial nameplate is 500 t/yr of finished NdFeB magnets from about 150 to 170 t/yr of oxide, which the company said in June 2025 would come from IREL (India) Ltd; no supply contract terms have been published. In June 2025 the company targeted first products by December 2025 and described a plan of INR 1,000 crore over three years to reach about 5,000 t/yr by 2030. On September 28, 2026 the group, reported under the name Midwest Energy, said the INR 250 crore first phase was being commissioned, with commercial production targeted by mid-October 2026, expansion to 5,000 t/yr by December 2027 and further investment of up to INR 2,000 crore. It said samples were being tested by OEMs and that its magnets would initially cost 20% to 25% more than Chinese imports; no binding offtake has been announced. A joint venture of Midwest Energy Ltd and MAM was one of 20 bidders whose technical bids India's Ministry of Heavy Industries opened on August 13, 2026 under its INR 7,280 crore REPM scheme; no award had been announced by October 19, 2026.

Where public sources disagree

Investment: Business Standard (June 8, 2025) reports INR 1,000 crore over three years; Whalesbook, citing The Economic Times (September 28, 2026), reports INR 250 crore for the first phase and up to INR 2,000 crore for expansion; the India Science & Technology portal lists a TDB project budget of INR 250.86 crore.
Timing of 5,000 t/yr: KNN (June 9, 2025) and the TDB announcement (iLouge Media, May 31, 2024) say by 2030; Whalesbook and Rare Earth Exchanges (September 28, 2026) say by December 2027.
Operating entity: TDB, Business Standard and KNN name Midwest Advanced Materials; The Economic Times (via Whalesbook, September 2026) and Mercom (July 2026) attribute the 500 t/yr Hyderabad magnet unit to Midwest Energy; the REPM bid was filed by a joint venture of both (PSU Watch, August 14, 2026).
Plant status: Business Standard (June 2025) calls the 500 t/yr facility 'existing'; September 2026 reports (Whalesbook, Rare Earth Exchanges) describe it as still being commissioned.

Sources

Midwest Energy magnet plant commissioning (ET report) — Whalesbook (2026-09-28)
MAM bets INR 1,000 crore on rare earth magnets — Business Standard (2025-06-08)
TDB project: INR 125 crore of INR 250.86 crore — India Science & Technology portal (Government of India) (2024-08-11)
REPM scheme: 20 bidders incl. Midwest Energy-MAM JV — PSU Watch (2026-08-14)
MAM to invest INR 1,000 crore; 150-170 t oxide from IREL — KNN India (2025-06-09)
TDB sanctions funding for MAM (MSE technology, 500 t/yr) — iLouge Media (2024-05-31)
Midwest Energy BESS plant; 500 t/yr magnet unit in Hyderabad — Mercom India (2026-07-21)
MAM 500 t/yr plant commissioning; 5,000 t/yr by Dec 2027 — Rare Earth Exchanges (2026-09-28)
MAM company registration — InstaFinancials (MCA data) (2025-10-01)
Midwest Ltd Annual Report FY2025-26 — Midwest Ltd via NSE (2026-09-07)
Midwest Ltd selected by KMML for rare earth pilot — Midwest Ltd via NSE (2026-05-06)
Midwest Ltd share data (NSE/BSE codes) — Upstox (2026-10-19)
Ministry of Heavy Industries REPM RFP — Ministry of Heavy Industries (2026-03-20)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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