Mid India Industries Limited has announced the disposal of a significant income tax litigation that had been pending with the High Court of Madhya Pradesh. The company filed this disclosure under Regulation 30 of SEBI Listing Regulations on January 19, 2026, providing an update on litigation previously reported in August 2023.

Litigation Background and Financial Implications

The dispute originated from the Income Tax Department's decision to disallow income tax exemption claimed by the company's 100% Export Oriented Unit (EOU) for Assessment Year 1995-96. The case details and financial implications are outlined below:

Case Resolution Timeline

The litigation reached its conclusion in July 2025, with specific timeline details provided by the company:

Regulatory Compliance and Disclosure

Mid India Industries Limited filed this update in compliance with SEBI Listing Regulations, specifically under Regulation 30(4) and paragraph B of Part A of Schedule III. The company noted that there was no appearance from their side during the proceedings, and they were informed about the final order through their advocate.

The disclosure follows the company's earlier intimation filed on August 14, 2023, which had detailed the pending litigation in accordance with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Whole-Time Director Bhawani Shankar Soni signed the regulatory filing, ensuring compliance with applicable SEBI Listing Regulations.

Corporate Information

Mid India Industries Limited operates with its registered office located in Textile Mill Area, Station Road, Mandsaur, Madhya Pradesh, and maintains its corporate office in Indore. The company has been maintaining transparency in its regulatory disclosures regarding litigation matters that may impact its operations and financial position.

Mid India Industries Limited , a trading company based in Mandsaur, Madhya Pradesh, has reported a significant turnaround in its financial performance for the first quarter. The company's board of directors also approved the appointment of new secretarial auditors during their recent meeting.

Financial Performance

The unaudited financial results for Q1 reveal a notable improvement in the company's profitability:

Mid India Industries Limited reported a profit of Rs 2.11 lakhs for the quarter, compared to a loss of Rs 10.81 lakhs in the same period last year. The company's revenue from operations increased by 46.3% year-over-year, reaching Rs 149.47 lakhs. This growth in revenue significantly outpaced the increase in total expenses, which rose by 42.3% to Rs 147.36 lakhs.

The improved financial performance resulted in a positive earnings per share of Rs 0.01, compared to a loss of Rs 0.07 per share in the corresponding quarter of the previous year.

Appointment of Secretarial Auditors

In addition to the financial results, the board of directors approved the appointment of M/s Joshi Sahay & Company as the company's Secretarial Auditors. This appointment is for a period of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting.

M/s Joshi Sahay & Company is a partnership firm of Practicing Company Secretaries. The firm brings over 25 years of experience in corporate laws, compliance management, corporate structuring, listing compliance, SEBI regulations, and due diligence.

Company Overview

Mid India Industries Limited operates solely in trading activities. The company maintains its registered office in Mandsaur, Madhya Pradesh, and has a corporate office in Indore. As a listed entity, Mid India Industries trades on the BSE.

The board meeting, which approved these results and appointments, was held on July 25, commencing at 4:00 PM and concluding at 5:30 PM. The company's management has exercised necessary due diligence to ensure that the financial results provide a true and fair view of its affairs.

Investors and stakeholders can access the detailed financial results on the company's website at www.midindiaindustries.com and on the BSE website at www.bseindia.com .