Midwest Energy Limited’s Board of Directors approved the appointment of Mrs. Soumya K as Whole-Time Director and Chief Executive Officer on September 7, 2026. The designation change takes effect from September 30, 2026, subject to shareholder approval at the upcoming Annual General Meeting.

The board also scheduled the company’s 36th AGM for Wednesday, September 30, 2026, to be conducted via Video Conferencing or Other Audio-Visual Means. The Register of Members and Share Transfer Books will remain closed from September 24, 2025, to September 30, 2025, inclusive, for the purpose of the meeting.

Leadership Transition

Mrs. Soumya K (DIN: 01760289) moves from her role as Non-Executive Director to a full-time executive position. Her tenure as CEO is fixed for five years, commencing on September 30, 2026. She is the daughter of Mrs. Kollareddy Ranganayakamma, a director at the company.

Mrs. Kukreti brings over 18 years of experience across mining, clean energy, advanced materials, hydrogen technologies, powder metallurgy, and e-mobility. She has served as a Whole-time Director of Midwest Limited since 2012. Her profile highlights key contributions to establishing diamond tools manufacturing operations in Sri Lanka and driving backward integration in the mining business through technology-led development.

AGM Logistics

The remote e-voting period begins on Sunday, September 27, 2026, at 9:00 am and concludes on Tuesday, September 29, 2026, at 5:00 pm. The cut-off date for determining eligibility for e-voting is Wednesday, September 23, 2026.

Mr. Srikant Kumar P, a Practicing Company Secretary, was appointed as the Scrutinizer for the e-voting process. Bigshare Services Private Limited will provide the remote e-voting facility and conduct voting during the AGM.

The Board meeting commenced at 6:00 pm and concluded at 7:00 pm.

midwest energy reported its Q1 consolidated financial results, highlighting a notable improvement in its bottom line alongside a sharp rise in revenue on a year-on-year basis. The company's net loss narrowed substantially, and revenue expanded significantly, signalling a meaningful shift in its financial trajectory compared to the same period last year.

Q1 Financial Performance

The company's consolidated net loss for Q1 stood at 11M rupees, a considerable reduction from the net loss of 38M rupees recorded in the corresponding quarter of the previous year. Simultaneously, revenue surged to 62M rupees, compared to just 5M rupees in the year-ago period, reflecting strong top-line growth on a year-on-year basis.

The following table summarises the key financial metrics for Q1:

Key Takeaways

• Net loss narrowed from 38M rupees to 11M rupees on a year-on-year basis.
• Revenue expanded sharply from 5M rupees to 62M rupees year-on-year.
• The improvement in both metrics reflects a positive directional shift in the company's Q1 financial performance compared to the prior year period.