Annual Report

To, Date- September 08, 2026 The Listing Department BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Sub: Annual Report for Financial Year 2025-26 Dear Sir/Madam, In compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we are enclosing herewith the Annual Report of the company for the financial year 2025-26 along with the Notice convening the 36th Annual General Meeting of the Company scheduled to be held on Wednesday, September 30, 2026 at 01:00 P.M. (IST). The Annual Report is being sent only through electronic mode to those Members whose e- mail addresses are registered with the Company/Registrar and Share Transfer Agent (RTA)/ Depository Participant(s). The Company shall send a letter providing a web-link of the Annual Report 2025-26 to those Members who have not registered their e-mail addresses with the Company/ Registrar & Share Transfer Agent (RTA)/ Depository Participant(s). The Annual Report is available on the website of the Company at https://www.midwestgoldltd.com/pdf/Annual_Report_2025-26.pdf The schedule of the events is set out as follows: Events Day and Date Time (IST) Cut-off date for e-voting September 23, 2026 NA Commencement of e-voting September 27, 2026 9:00 A.M End of e-voting September 29, 2026 5:00 P.M This is for your information and records. Kindly acknowledge and take on record the same Thanking you Yours faithfully For MIDWEST ENERGY LIMITED (Formerly Known as Midwest Gold Limited) Prabhat Bhamini Company Secretary Membership No.-ACS 67664 Midwest Energy Limited (Formerly Known as Midwest Gold Limited) 19th Floor, Tower-1, Prestige Skytech, Nanakramguda, Hyderabad-500032 Tel: +91 40 40733000 Email: raghav@midwestenergy.in, soumya@midwestenergy.in C IN: L13200TG1990PLC163511 MIDWEST ENERGY LIMITED (Formerly Known as Midwest Gold Limited) ANNUAL REPORT 2025-2026 Annual Report : 2025-2026 INDEX Particulars Page No’s Corporate Information 2-5 Notice of Annual General Meeting 6-24 Director's Report 25-39 Secretarial Audit Report 40-43 Management Discussion and Analysis Report 44-46 Report on Corporate Governance 47-67 Independent Auditor's Report - Standalone 68-82 Standalone Financials 83-125 Independent Auditor's Report - Consolidated 126-151 Consolidated Financials 152-189 Annual Report : 2025-2026 CORPORATE INFORMATION Company Details Name of Company MIDWEST ENERGY LIMITED (Formerly Known as Midwest Gold Limited) CIN L13200TG1990PLC163511 STOCK EXCHANGE BSE Limited ISIN INE519N01014 REGISTERED OFFICE Level 19, Wing A, Sky One, Prestige Skytech, Financial District, Nanakramguda, Hyderabad, Gachibowli, K.V.Rangareddy, Seri Lingampally, Telangana, India, 500032 WEBSITE www.midwestgoldltd.com E-MAIL ID novagranites1990@gmail.com BOARD OF DIRECTORS Sr.No. Name of Directors Designation 1. Mr. Bhaskararao Gadipudi Chairman- (DIN: 08548791) Independent Director 2. Mr. Somasekhar Reddy Bhimavarapu Independent Director (DIN: 06457285) 3. Mr. Dinabandhu Mohapatra Independent Director (DIN- 07488705) (Appointed w.e.f 28th July 2026) 4. Mr. Satyanarayana Raju Baladari Whole-Time Director (DIN: 01431440) 5. Mrs. Soumya K Non-Executive Director (DIN- 01760289) (appointed w.e.f 27th June 2026) 6. Mrs. Kollareddy Ranganayakamma Non-Executive Director (DIN: 00033569) (Appointed w.e.f 28th July 2026) Annual Report : 2025-2026 KEY MANAGERIAL PERSONNELS Sr. No. Name Designation 1. Mrs. Rama Devi Desari (Appointed w.e.f. July 29, 2026) Chief Financial Officer (CFO) 2. Ms. Prabhat Bhamini (Appointed w.e.f 05th June 2026) Company Secretary & Compliance Officer AUDITORS Sr. No. Name of Auditors Address 1 M/S. MAJETI & CO. 101, Ganesh Siri Sampada Apts, (Statutory Auditors ) 6-3-347/17, Dwarakapuri Colony, Panjagutta, Hyderabad- 500082 2 CS MUNESH KUMAR GAUR A1/16 2nd Floor Vijay Enclave, (SecretarialAuditors) Delhi-110045. 3 M/S. BHUVAN KOTHA, & CO. 109/D, 1st Floor, Vengal Rao (Internal Auditors) Nagar Colony, Hyderabad – 500038 REGISTRARAND TRANSFER Bigshare Services Private Limited., AGENTS 306, 3rd Floor, Right Wing, Amrutha Ville, Opp: Yashoda Hospital, Rajbhawan Road, Somajiguda Hyderabad – 500082. Direct Desk: 040-23374967/40144582 Web Address: www.bigshareonline.com Email: bsshyd1@bigshareonline.com bsshyd@bigshareonline.com BOARD COMMITTEES (with effect from 28th June 2026) Audit Committee Sr. Name of Directors Designation 1 Mr. Dinabandhu Mohapatra Non-Executive Independent Director (Chairman) 2 Mr. Bhaskararao Gadipudi Non-Executive Independent Director 3 Mr. Somasekhar Reddy Non-Executive Director Bhimavarapu Annual Report : 2025-2026 Nomination & Remuneration Committee Sr. Name of Directors Designation 1 Mr. Somasekhar Reddy Non-Executive Independent Director Bhimavarapu (Chairman) 2 Mr. Bhaskararao Gadipudi Non-Executive Independent Director 3 Mr. Dinabandhu Mohapatra Non-Executive Independent Director Stakeholder Relationship Committee Sr. Name of Directors Designation 1 Mr. Bhaskararao Gadipudi Non-Executive Independent Director (Chairman) 2 Mrs. Soumya Kukreti Non-Executive Director 3 Mrs. Kollareddy Additional Director (Non-Executive Director) Ranganayakamma Annual Report : 2025-2026 Notice of 36th Annual General Meeting Notice is hereby given that the 36th Annual General Meeting of the members of Midwest Energy Limited (Formerly Known as Midwest Gold Limited) will be held on Wednesday, the 30th day of September, 2026 at 01:00 P.M. (IST) through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”) to transact the following business(es): ORDINARY BUSINESS:- 1. To receive, consider and adopt: a) the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026, the Reports of the Board of Directors and Auditors thereon and in this regard, To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026, the reports of the Board of Directors and Auditors thereon, as circulated to the members be and are hereby considered and adopted 2. To appoint a Director in place of Mr. Baladari Satyanarayana Raju (DIN: 01431440), who retires by rotation and being eligible seeks reappointment. To consider and if thought fit, to pass following resolution with or without modification(s) as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of section 152 and other applicable provisions of the Companies Act, 2013 read with rules made thereunder, Mr. Baladari Satyanarayana Raju (DIN: 01431440), who retires by rotation at this meeting and being eligible had offered himself for re- appointment, be and is hereby appointed as Director of the Company, liable to retire by rotation.” SPECIAL BUSINESS:- 3. To approve the appointment of Mrs. Soumya K (DIN: 01760289) as Wholetime Director and CEO of the Company. To consider and if thought fit, to pass following resolution with or without modification(s) as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Sections 152, 161, 196, 197, 198, 203 and other applicable provisions, if any, of the Companies Act, 2013 (“Act”), read with Schedule V and the Companies (Appointment and Remuneration of Managerial Annual Report : 2025-2026 Personnel) Rules, 2014, and Regulation 17 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), including any statutory modification(s), amendment(s) or re-enactment(s) thereof for the time being in force, and pursuant to the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors of the Company, the consent of the members of the Company be and is hereby accorded for the appointment of Mrs. Soumya K (DIN: 01760289), who is presently serving a [Showing first 8,000 characters — download PDF for full document]