Midwest Ltd

Continuation of Independent Director

• Effective 28-09-2026; continues as Independent Director and Chairman; former Chairman/MD at Hindustan Copper and NMDC.

Designation change: Soumya Kukreti

• Effective 01-09-2026; designation from Whole-Time Director to Non-Executive Director; sister of Kollareddy Ramchandra and Uma's sister-in-law.
• Profile: 18 years across mining, clean energy, hydrogen, and e-mobility.

Secretarial Auditor appointment

• M/s B S S & Associates appointed as Secretarial Auditor for five-year term 2026-27 to 2030-31.
• Appointed by shareholders on 28-09-2026.
• Profile: Firm led by CS S. Srikanth; experienced in corporate law, SEBI, FEMA, RBI, valuation.

AGM details

• AGM held 28 Sep 2026, 11:00–12:15 via NSDL Video Conference/OAVM.
• Record date 21 Sep 2026; 20,441 shareholders on record.
• Video attendance: promoters 4, public 46.
• Resolutions 1–6 put to vote; all passed.
• Voting conducted through remote e-voting and AGM e-voting; concluded by 12:15 PM.

Key resolutions and results

• Resolution 1 (Ord): Standalone financials FY26 adopted; passed.
• Resolution 2 (Ord): Consolidated financials FY26 adopted; passed.
• Resolution 3 (Ord): Director by rotation appointment; passed.
• Resolution 4 (Ord): Cost Auditor remuneration for FY27 ratified; passed.
• Resolution 5 (Ord): Secretarial Auditor appointed; passed.
• Resolution 6 (Special): Continuation of Independent Director beyond age 75; passed with 97.04% in favour.

Auditors

• Remuneration for Cost Auditor FY2026-27 ratified.
• Secretarial Auditor appointed for the company.

AGM Details

• AGM held Sept 28, 2026 at 11:00 A.M. via VC/OAVM.
• Attendance: 50 Members; proceedings deemed at the registered office.
• Standalone audit: no qualifications; consolidated report has one self-explanatory observation.
• e-voting available during meeting; results to be announced later.

Key Resolutions

• Ordinary: Adopt standalone and consolidated financial statements for FY 2025-26.
• Ordinary: Re-appoint Uma Priyadarshini Kollareddy as Whole Time Director.
• Special: Ratification of remuneration to Cost Auditors for FY 2026-27.
• Ordinary: Appointment of Secretarial Auditor.
• Special: Continuation of Rana Som as Independent Director beyond age 75.
• Ordinary: Change in designation of Soumya Kukreti to Non-Executive Director.

Auditors & Governance Notes

• Statutory audit: standalone reports no qualifications; consolidated has one observation.
• Secretarial audit: no adverse qualifications; reports taken as read.
• Cost auditor remuneration ratification for FY 2026-27; results pending.
• Secretarial Auditor appointment proposed; results pending.

Midwest Ltd trading window closed from October 01, 2026 and would re-open after expiry of 48 hours from announcement of Un-audited (Standalone & Consolidated) Financial Results for the quarter ending September 30, 2026.

AGM notice and e-voting details

• Dispatch letter to shareholders with unregistered emails providing AGM notice and FY2025-26 Annual Report links.
• 45th AGM scheduled Sept 28, 2026 at 11:00 IST via VC/OAVM.
• Electronic copies of AGM Notice and Annual Report sent to registered email holders.
• E-voting eligibility cut-off date: Sept 21, 2026.
• Remote e-voting window: Sept 25, 2026 09:00 to Sept 27, 2026 17:00.
• Members attending AGM can vote on resolutions if not yet voted.
• Mandatory KYC for physical holders per SEBI circular; submit ISR-1 to KFin.
• Queries to KFintech: einward.ris@kfintech.com, evoting@kfintech.com.
• Web links to access AGM Notice and Annual Report provided in the letter.

Overview

• Midwest Ltd filed the BRSR for FY 2025-26, which forms part of the Annual Report.
• Scrip code 544587; filing communicated to BSE and NSE.

Financial performance and geography

• Consolidated revenue from operations: 6,456.18 million INR.
• Consolidated net profit after tax: 1,064.76 million INR.
• Earnings per share: 30.54 INR.
• Profit before tax: 1,437.33 million INR.
• Revenue India: 4,141.98 million INR.

IPO deployment, liquidity and dividends

• IPO net proceeds: 2,296.25 million INR.
• Unutilised IPO proceeds: 1,649.44 million INR.
• IPO proceeds utilised: 646.81 million INR.
• Net debt: -569.45 million INR.
• Dividend for FY26: not declared.

AGM Details

• AGM date/time: 28 September 2026, 11:00 IST.
• Mode: VC/OAVM (virtual meeting).
• E-voting window: cutoff Sept 21; opens Sept 25 09:00 IST; closes Sept 27 17:00 IST.
• Venue deemed the registered office for VC/OAVM.

Ordinary resolutions

• Adopt Standalone financial statements and boards’ and auditors’ reports.
• Re-appoint Uma Priyadarshini Kollareddy as Director for five-year term.
• Ratify Cost Auditors’ remuneration for 2026-27: Rs 1,25,000 plus taxes.
• Appoint Secretarial Auditor for 2026-27 for five-year term.

Special resolutions

• Continuation of Rana Som as Independent Director beyond age 75.
• Change in designation of Soumya Kukreti from Whole-Time to Non-Executive Director.

Voting results

• Voting outcomes not disclosed in this filing.

Dividend

• Dividend proposal not disclosed in notice.

Director changes

• Uma Priyadarshini Kollareddy re-appointed as Director for five years.
• Rana Som to continue as Independent Director beyond 75 years (Special Resolution).
• Soumya Kukreti to shift from Whole-Time Director to Non-Executive Director effective 1 Sep 2026.

Auditor appointments

• Remuneration for Cost Auditors approved (Rs 1,25,000 plus taxes).
• Secretarial Auditor appointed for five-year term (FY2026-27 to FY2030-31).

Material related party transactions

• Material related party transactions not disclosed in the notice.

Other material approvals

• No other material approvals disclosed in the notice.