Midland Polymers Limited has disclosed a substantial shareholding disposal by Vanteddu Lakshmi Priya Darshini under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction represents a complete divestment of Darshini's stake in the company through an off-market sale.

Transaction Details

The disposal was executed on February 21, 2026, involving the complete sale of Darshini's equity holding in Midland Polymers Limited. The transaction was conducted through off-market channels, indicating a private sale arrangement rather than through regular stock exchange trading.

Shareholding Changes

The disposal represents a significant change in the company's shareholding pattern, with Darshini completely exiting her investment in Midland Polymers Limited. Prior to this transaction, she held a substantial stake in the company.

Company Capital Structure

Midland Polymers Limited's equity share capital remains unchanged following this transaction. The company's capital structure consists of Rs. 66,87,600 divided into 6,68,760 equity shares of Rs. 10 each. The disposal does not affect the total number of shares outstanding, as it represents a transfer of existing shares rather than any change in the company's issued capital.

Regulatory Compliance

The disclosure has been made in compliance with SEBI regulations governing substantial acquisitions and takeovers. Darshini, who is not part of the promoter or promoter group, has fulfilled her regulatory obligations by filing the prescribed Form under Regulation 29(2) with both BSE Limited and Midland Polymers Limited. The company's shares are listed on BSE Limited under scrip code 531597.

Midland Polymers Limited announced its unaudited financial results for the quarter ended December 31, 2025, showing continued operational challenges with no revenue generation. The company also implemented significant board restructuring with new directorial appointments and resignations.

Financial Performance Q3 FY26

The company's financial performance for the third quarter reflects ongoing operational difficulties. Despite having no revenue from operations, Midland Polymers managed to reduce its quarterly losses compared to the previous year.

Nine Months Performance

For the nine months ended December 31, 2025, the company showed significant improvement in loss reduction compared to the corresponding period in the previous year.

Board Restructuring

The company announced significant changes to its board composition during the board meeting held on January 31, 2026. These changes reflect the company's strategic approach to governance restructuring.

New Appointment

Mr. Sreeram Athota brings over two decades of experience in CFO services to the board. He holds a Bachelor of Commerce from Sri Venkateswara University and is a Fellow Member of the Institute of Chartered Accountants of India (FCA), with additional qualifications in Bachelor of Laws (LLB) from Osmania University. His expertise spans Financial & Management Accounting, Internal and Statutory Auditing, Costing, Taxation, Budgeting, and Management Information Systems (MIS).

Resignation

Key Financial Highlights

The company maintained its paid-up equity share capital at ₹6.69 million throughout the reporting periods. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and were reviewed by the Audit Committee before being approved by the Board of Directors. The company operates as a single segment entity, eliminating the need for segment-wise disclosures.