Investor Presentation Q2 & H1 FY 27

November 11, 2026 To, To, The Listing Department The Listing Department BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400001 Mumbai – 400051 Scrip Code: 544587 Symbol: MIDWESTLTD Dear Sir / Madam, Subject: Investor Presentation for Q2 & H1 FY 27 Pursuant to the Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended please find enclosed a copy of the Investor Presentation on Un-Audited (Standalone and Consolidated) Financial Results for the Quarter and Half Year ended September 30, 2026. The Presentation will also be available on the Company’s website at https://midwest.in/investors . Kindly take the same on record. Thanking you, Yours faithfully, For Midwest Limited K. Achyutanand Reddy Company Secretary Mem. No.: A44619 Q2 & H1 FY27 INVESTOR PRESENTATION November 2026 www.midwest.in Level 19, Wing A, Sky One, Prestige Skytech, Financial District, Nanakramguda, Gachibowli, K.V. Rangareddy, Serilingampally, Telangana, 500032 Disclaimer This presentation and the accompanying slides (the “Presentation”) have been prepared by Midwest Limited (the “Company”) solely for informational purposes and do not constitute any offer, recommendation, or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. Certain statements in this presentation concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to the statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting demand/supply and price conditions in domestic and international markets. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable. This Presentation may not be all-inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The Company does not make any promise to update/provide such presentation along with results to be declared in the coming years. wwwww.midwest.inwwww..mmiiddwweesstt..iinn Table of Contents 01 02 03 04 05 Q2 & H1 FY27 Company at a USPs Financial and Performance Glance Operating Annexures Performance wwwww.midwest.inwwww..mmiiddwweesstt..iinn Management Commentary & Business Outlook I am pleased to share that Midwest delivered a strong H1FY27 performance, with Revenue and PAT growing 24% and 18% YoY, respectively. Our Natural Stones business contributed 19% to the overall revenue growth during H1FY27. During the period, we further strengthened our granite business by receiving Letters of Intent (LOIs) from the Andhra Pradesh Mineral Development Corporation Ltd. to operate three granite quarries in Andhra Pradesh. We are also scaling up our Quartz business through Phase II expansion, which will double our processing capacity and integrate High Purity Quartz capabilities. I am happy to share that our Quartz business has also become EBIT-positive. In parallel, our collaborations with PERMINAS and KMML, along with our progress on the Sri Lanka project, mark important steps towards establishing a presence in the Rare Earth value chain. We continue to drive cost efficiencies through electric mobility and renewable energy initiatives. The deployment of 10 electric vehicles is expected to generate annual savings of Rs. 2–2.5 crore, while our group captive renewable energy arrangement is delivering savings of approximately Rs. 2 per unit. Installation of a 1 MW solar power plant is also underway. Over the next 3–4 years, we aim to achieve 2.5x+ revenue growth, 3x+ profitability“ growth, and 35% ROCE, backed by planned capex of Rs. 300 crore. With a strong resource base, expanding capacities, improving cost efficiencies Mr. Kollareddy Ramachandra and multiple emerging growth opportunities, we remain confident in our Promoter, Whole-time Director & CEO journey towards becoming a globally integrated materials processing company. wwwww.midwest.inwwww..mmiiddwweesstt..iinn Q2 & H1 FY27 Performance www.midwest.in Q2 & H1 FY27 Strategic Update The Quartz business achieved EBIT Deployed 10 electric vehicles (EVs) across profitability in Q2 FY27, with PAT mining operations, expected to deliver profitability expected by the end of annual cost savings of Rs. 2–2.5 Cr. FY27. Accepted Letter(s) of Intent (LOIs) from Energy Efficiency Initiatives – Andhra Pradesh Mineral Development o Installation of a 1 MW solar power plant is underway Corporation (APMDC) for operating three to increase the share of renewable energy in the granite quarries across Chittoor and Company's power mix. Srikakulam districts, Andhra Pradesh, o Entered into a group captive renewable energy covering approximately 15.4 hectares on a arrangement to meet the electricity requirements Raising-Cum-Sale Contract basis. of mines, resulting in savings of approximately Rs. 2 per unit. wwww.midwest.inww.midwest.in Q2 & H1 FY27 Financial Highlights Revenue (INR’ Cr) EBITDA (INR’ Cr) & Margin (%) PAT (INR’ Cr) & Margin (%) 250 50 35.00% s 25.47% t 191.84 29.32% 26.10% 30.00% 16.18% 16.57% l 200 182.54 49 32 20.00% u 17.16% 158.69 25.00% s 31 e 150 48 15.00% 20.00% R 48.87 30 31.04 y 100 47 15.00% 29 30.25 10.00% l r 47.64 10.00% 28 e 50 46 46.53 5.00% t 5.00% 27 27.71 a 0 45 0.00% 26 0.00% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Revenue EBITDA Margin PAT Margin EBITDA (INR’ Cr) & Margin (%) Revenue (INR’ Cr) PAT (INR’ Cr) & Margin (%) l 100.00 25.00% u 374.38 400.00 s 120.00 28.41% 30.00% e 300.96 25.78% 20.00% R 300.00 100.00 25.00% 17.31% 16.37% y 80.00 96.51 20.00% 15.00% l 85.50 50.00 61.29 r a 200.00 60.00 15.00% 52.09 10.00% 40.00 10.00% Y 100.00 5.00% 20.00 5.00% a 0.00 0.00 0.00% 0.00 0.00% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 EBITDA Margin Revenue PAT Margin 7 www.midwest.in Q2 & H1 FY27 Income Statement Particulars (Rs. Cr) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1 FY27 H1 FY26 YoY Net Revenue 182.54 158.69 15.03% 191.84 -4.85% 374.38 300.96 24.40% Total Expenses 134.90 112.16 20.28% 142.97 -5.64% 277.87 215.45 28.97% EBITDA 47.64 46.53 2.38% 48.87 -2.52% 96.51 85.50 12.87% EBITDA Margin % 26.10% 29.32% 25.47% 25.78% 28.41% Depreciation 9.17 7.40 23.92% 8.88 3.32% 18.05 14.00 28.89% EBIT 38.47 39.13 -1.70% 39.99 -3.81% 78.46 71.50 9.73% EBIT Margin % 21.07% 24.66% 20.85% 20.96% 23.76% Other Income 6.93 2.06 236.77% 5.93 16.93% 12.86 6.26 105.53% Finance Cost 4.61 3.55 29.75% 3.87 19.02% 8.47 7.25 16.85% PBT 40.80 37.64 8.38% 42.05 -2.99% 82.85 70.51 17.50% Exceptional Items N/A Tax Expenses 10.55 9.93 6.22% 11.02 -4.21% 21.57 18.42 17.08% PAT 30.25 27.71 9.16% 31.04 -2.55% 61.29 52.09 17.65% PAT (Adj. for exceptional 30.25 27.71 9.16% 31.04 -2.55% 61.29 52.09 17.65% Item) PAT Margin % 16.57% 17.46% 16.18% 16.37% 17.31% wwwww.midwest.inwwww..mmiiddwweesstt..iinn Note - All numbers are on consolidated basis Detailed Balance Sheet Current Liabilities (Rs. Cr) 30 Sept'26 31 March'26 Assets (Rs. Cr) 30 Sept'26 31 March’26 Shareholders funds Non Current Assets Share Capital 18.08 18.08 Property, Plant & Equipment 458.89 386.26 Reserves and Surplus 1003.43 944.29 Capital Work-In-Progress 52.93 90.37 NCI 18.7 [Showing first 8,000 characters — download PDF for full document]