Midwest Limited Reports Q2 Results and Approves Major Governance Appointments
Midwest Limited has released its unaudited financial results for the quarter ended June 30, 2026, alongside key updates regarding its board structure and professional appointments. The Company approved these results during a Board meeting held on August 12, 2026.The Q2 performance highlights show robust top-line growth across both standalone operations and consolidated Group results for Midwest Limited (formerly known as Midwest Private Limited).
Financial Performance Overview (Quarter Ended June 30, 2026)
The unaudited financial results reflect the company's status in exploration, exploitation, manufacturing, processing, and selling of granite blocks, slabs, quartz, and diamond cutting wires. A detailed view of the performance across the quarter is provided below:Standalone Results (Midwest Limited)
| Metric | Quarter Ended June 30, 2026 Unaudited | Quarter Ended March 31, 2026 Audited | Quarter Ended June 30, 2025 Audited | Year Ended March 31, 2026 Audited |
|---|---|---|---|---|
| Total Income | 1,060.11 Million | 1,225.07 Million | 825.66 Million | 4,387.64 Million |
| Total Expenses | 777.70 Million | 880.54 Million | 633.58 Million | 3,072.14 Million |
| Profit Before Tax | 282.41 Million | 344.53 Million | 192.08 Million | 1,315.50 Million |
| Total Tax Expense | 71.08 Million | 88.79 Million | 50.93 Million | 339.22 Million |
| Profit for the Period | 211.33 Million | 255.74 Million | 141.15 Million | 976.28 Million |
Consolidated Group Results (Quarter Ended June 30, 2026)
The consolidated segment information for the quarter also showed strong revenues and profitability across its operating segments:
| Metric | Quarter Ended June 30, 2026 Unaudited | Quarter Ended March 31, 2026 Audited | Quarter Ended June 30, 2025 Audited | Year Ended March 31, 2026 Audited |
|---|---|---|---|---|
| Net Segment Revenue | 1,918.39 Million | 2,158.05 Million | 1,422.65 Million | 6,456.18 Million |
| Profit Before Tax | 420.54 Million | 507.25 Million | 328.67 Million | 1,437.33 Million |
| Total Tax Expense | 110.15 Million | 137.02 Million | 84.87 Million | 372.57 Million |
| Profit for the Period | 310.39 Million | 370.23 Million | 243.80 Million | 1,064.76 Million |
Key Board and Governance Decisions
The Board meeting on August 12, 2026 resulted in several critical approvals regarding the company's operations and management structure.Statutory Appointments:
- M/s. Eswaraiah & Co., Chartered Accountants (Firm Registration No. 006157S), was approved as the Internal Auditors for the Financial Year 2026-27, following a recommendation from the Audit Committee.
- The Board also approved M/s. B S S & Associates, Company Secretaries, as the Secretarial Auditor for a term of five years, commencing with the financial year 2026-27.
Director and Meeting Approvals:
- The continuation of Mr. Rana Som (DIN: 00352904) as an Independent Director was approved, subject to shareholder approval.
- Mrs. Soumya Kukreti (DIN: 01760289)'s change in designation from Whole-time Director to Non-Executive Director was approved, also subject to shareholder approval.
- The Board approved the notice for convening the Annual General Meeting (AGM) for the Financial Year 2025-26 and authorized management to issue it to members.
IPO Proceeds Utilization Summary
The financial results include details regarding the utilization of proceeds from an IPO, with a total amount of 2,296.25 Million being utilized across various objectives up to June 30, 2026. Unutilized funds are currently invested in short-term deposits.| Object of Offer | Amount to be Utilised | Utilisation by June 30, 2026 | Unutilised Amount |
|---|---|---|---|
| Investment in Midwest Neostone Private Limited (Phase II Quartz Plant) | 1,302.98 Million | 35.00 Million | 1,267.98 Million |
| Capex for Electric Dump Trucks and investment in Andhra Pradesh Granite (Midwest) Pvt Ltd | 257.55 Million | 16.96 Million | 240.59 Million |
| Capital Expenditure for Solar Energy Integration at Mines | 32.56 Million | - | 32.56 Million |
| Pre-payment/Re-payment of Borrowings and Investment in Andhra Pradesh Granite (Midwest) Pvt Ltd | 562.23 Million | 562.23 Million | - |
| General Corporate Purposes | 140.93 Million | 85.73 Million | 55.20 Million |
| Total | 2,296.25 Million | 699.92 Million | 1,596.33 Million |
MIDWESTLTD Stock Price Movement
Shares of Midwest Limited are trending up in live trading, currently reaching ₹1181.7 as of 3:22 PM after climbing 0.65%, translating to a rise of ₹7.60. The gain is backed by strong market activity, with a total traded volume reaching 34,147 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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