We wish to inform you that the Board of Director in their meeting held on August 13, 2025 has, inter alia, considered and approved the Un-audited (Standalone & Consolidated) Financial Results ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Midwest Gold Ltd's Board approved its Q1 FY26 unaudited financial results on August 13, 2025. On a standalone basis, the company swung to a profit of ₹63.40 lakhs (vs a loss of ₹54.14 lakhs in Q1 FY25), but this was driven largely by other income of ₹149.97 lakhs, while revenue from operations actually fell to ₹17.31 lakhs from ₹44.64 lakhs a year ago. On a consolidated basis, the company reported a loss after tax of ₹377.94 lakhs on total income of ₹79.48 lakhs, with the renewable energy and rare-earth segments posting losses. The statutory auditor flagged a concern that ₹1,866.87 lakhs classified as 'Intangible Assets Under Development' lacks sufficient evidence to meet Ind AS 38 recognition criteria. The company also acquired full ownership of Midwest Energy Pvt Ltd on June 6, 2025 by purchasing shares from the promoter, making it a wholly owned subsidiary.
Standalone profitability is supported by non-operating income rather than strong operations, and the consolidated losses, the auditor's qualification on intangible asset capitalisation, and high finance costs (₹65.91 lakhs in Q1) signal continued execution and reporting risks for shareholders.