Annual Report FY26 Filed; AGM on Sept 24; Name Change Proposed
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Midland Polymers filed FY2025-26 Annual Report. 34th AGM scheduled Sept 24, 2026 via video conferencing. Key resolutions: change company name to Rare Earth Engineers Limited, shift to power transmission, wind energy and EPC business, appoint new CMD L Prashanth Reddy and Whole-Time Director. Three-year financials show nil turnover and continuing losses: net loss Rs 14.07 lakh in FY26, Rs 14.77 lakh in FY25, Rs 45.70 lakh in FY24. Company cites expansion phase and going concern basis for future improvement.
Major restructuring: name change to Rare Earth Engineers and business shift to infrastructure and EPC. Nil revenue and persistent losses raise going concern flags for shareholders.