Midwest Ltd concludes 45th AGM with key governance resolutions
- Midwest Limited held its 45th AGM on September 28, 2026, via video conferencing
- Shareholders adopted FY26 standalone and consolidated financial statements
- Rana Som approved for continuation as Independent Director beyond age 75
- Uma Priyadarshini Kollareddy re-appointed as Whole Time Director
- Soumya Kukreti's designation changed from Whole-Time to Non-Executive Director
*this image is generated using AI for illustrative purposes only.
Midwest Limited held its 45th Annual General Meeting on September 28, 2026, through video conferencing and other audio-visual means. The meeting commenced at 11:00 am and concluded at 12:15 pm, adhering to SEBI (LODR) regulations and MCA circulars.
The proceedings were presided over by Chairman Rana Som. Company Secretary K. Achyutanand Reddy briefed members on the remote e-voting facilities provided by NSDL and confirmed that statutory registers were accessible electronically during the meeting. A total of 50 members attended the session.
Financial statements adoption
The Board sought shareholder approval to adopt the audited standalone and consolidated financial statements for FY26. The statutory audit report on standalone accounts contained no qualifications. For consolidated accounts, auditors noted one observation which management stated was self-explanatory and required no further board comment. Secretarial audit reports also contained no adverse remarks.
Governance and appointment resolutions
Shareholders considered several ordinary and special resolutions regarding board composition and auditor appointments. The Whole Time Director and CEO, Ramachandra Kollareddy, delivered a speech covering industry highlights and company performance for FY26.
| Resolution Item | Type | Details |
|---|---|---|
| Adoption of Financial Statements | Ordinary | Standalone and Consolidated FY26 statements |
| Director Re-appointment | Ordinary | Uma Priyadarshini Kollareddy (Whole Time Director) |
| Cost Auditor Ratification | Ordinary | Remuneration for FY27 |
| Secretarial Auditor Appointment | Ordinary | Appointment of new secretarial auditor |
| Independent Director Continuation | Special | Rana Som continuing beyond age 75 |
| Designation Change | Ordinary | Soumya Kukreti from Whole-Time to Non-Executive Director |
Voting and conclusion
E-voting remained open for 15 minutes after the formal business concluded. Results were scheduled for announcement on September 28, 2026, and will be uploaded to stock exchanges and NSDL websites. The meeting ended with a vote of thanks from the Chairman.
Historical Stock Returns for Midwest
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.18% | -8.25% | -21.68% | -29.61% | -21.10% | -21.10% |
How will the re-designation of Soumya Kukreti to Non-Executive Director impact the company's strategic decision-making and operational leadership structure?
What specific governance safeguards are being implemented to mitigate potential conflicts of interest given Chairman Rana Som's continuation beyond age 75?
How does the 'self-explanatory' observation in the consolidated audit report affect the reliability of Midwest Limited's group-level financial health for future investments?
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