Midwest Ltd has confirmed that its promoters and promoter group have not created any encumbrance on their shareholding during the financial year ended March 31, 2026, other than those already disclosed. The declaration was submitted to the stock exchanges pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulatory filing ensures transparency regarding the pledging or hypothecation of shares by the promoters, which is a key indicator of financial stability for investors.

The disclosure was addressed to the Listing Departments of BSE Limited and National Stock Exchange of India Ltd. on April 09, 2026. Rama Raghava Reddy Kollareddy, a Promoter, signed the declaration on behalf of the Promoters and Promoters' Group. The company confirmed that the list of promoters and promoter group members forming part of this declaration was enclosed as Annexure I.

The filing provides a comprehensive list of 52 entities categorized under the Promoter and Promoter Group. The list includes individuals such as Ravindra Reddy Guntaka and Ramachandra Kollareddy, as well as corporate entities like Orange Koi Private Limited and DRK (IND) Trading Private Limited. The list also notes that Midwest Quartz Private Limited changed its name to Midwest Altira Private Limited effective January 23, 2026.

The complete list includes various other entities, such as trusts and limited liability partnerships, all classified under the Promoter Group. The declaration confirms that no new charges have been created on the shares held by these entities during the specified financial year, providing assurance to shareholders regarding the status of the promoter holdings.

Midwest Limited reported a 20.12% year-on-year decline in consolidated net profit to ₹106.48 crore for the financial year ended March 31, 2026. Revenue from operations rose 3.1% to ₹645.62 crore for the same period, while EBITDA stood at ₹174.37 crore with a margin of 27.01%. The board approved the audited standalone and consolidated financial results at a meeting held on May 26, 2026. In compliance with Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company subsequently published its audited financial results in the Financial Express (English, all editions) and Nava Telangana (Telugu, Hyderabad edition) on May 28, 2026, with the submission signed by Whole-time Director Kollareddy Ramachandra.

Annual Financial Performance

The company's full-year consolidated financial results reflected a contraction in profitability despite revenue growth. Total expenses increased to ₹471.25 crore from ₹454.40 crore in the previous year. Profit before tax (PBT) declined by 5.57% to ₹143.73 crore. Net worth improved significantly to ₹978.52 crore from ₹632.40 crore in the prior year, driven by an increase in reserves and surplus.

Q4 Performance

For the quarter ended March 31, 2026, Midwest reported a decline in profitability metrics on both a year-on-year and sequential basis. Consolidated net profit for Q4FY26 stood at ₹37.02 crore, decreasing from ₹48.47 crore in the corresponding quarter of the previous year. Revenue from operations for the quarter fell by 6.25% to ₹215.81 crore. On a sequential basis, however, revenue grew by 67.48% from ₹128.86 crore in Q3FY26, driven by operational recovery.

Q4 EBITDA on a consolidated basis stood at ₹58.32 crore, compared to ₹74.66 crore in the year-ago period, reflecting a margin compression to 27.03% from 32.43% year-on-year.

Strategic Updates and Disclosures

The investor presentation highlighted several strategic initiatives undertaken during the period. Midwest received a 30-year quarry lease work order from the Government of Andhra Pradesh effective January 6, 2026. The board approved establishing a wholly owned subsidiary in Sierra Leone to support the expansion of its Heavy Mineral Sands (HMS) reserves. Additionally, Midwest was selected as the Lead Consortium Partner by The Kerala Minerals and Metals Ltd. (KMML) for a strategic technology development initiative for rare earth elements. The financial results were reviewed by the Audit Committee and carry an unmodified audit opinion from the Statutory Auditors, MSKA & Associates LLP.