1. 1 GWh lithium battery line starts commercial production - Trial production began 6 April 2026 at the Bengaluru assembly line (1 GWh annual capacity, roadmap to 3 GWh), with two BESS platforms under UL-certified development and commercialization expected in the months ahead. This is the first revenue-generating asset in the pivot to clean energy, converting ₹20 crore of capitalised intangible development into sellable product.
2. Renewable energy segment hits ₹289 crore in nine months - The Renewable energy & power storage systems segment reported ₹289.41 crore revenue for the nine months ended 31 December 2025, against ₹32.71 lakhs in all of FY25. The step-change in scale signals that the acquired MEPL platform has moved from development to commercial delivery.
3. MEPL amalgamation completes the vertical stack - The Scheme of Amalgamation merging Midwest Energy Private Limited into MGL received MCA approval on 26 March 2026, effective 1 July 2025, and the company was renamed Midwest Energy Limited on 25 May 2026. Backward integration of MEPL’s rare-earth and battery-material product lines with MGL’s mining and processing capabilities creates a single listed entity eligible for institutional funding.
4. ₹320 crore raised across two preferential issues in six months - A ₹150 crore non-promoter issue closed 31 December 2025 and a ₹170.15 crore promoter-and-public issue closed by 30 March 2026, with ₹80 crore already deployed to repay unsecured loans. The capital infusion cleans up the balance sheet and funds the rare-earth magnet facility, removing a key constraint on expansion.
5. Rare-earth magnet manufacturing facility funded - The ₹170.15 crore preferential issue objects include acquiring land, building, and plant and machinery for a new Rare Earth Magnet manufacturing facility. A dedicated magnet plant extends the rare-earth segment beyond NdPr metal and alloy powder into finished sintered magnets and motors, where margins are typically higher.
6. Sri Lanka subsidiary opens a second geography - GOOD ENERGY (PVT) LTD was incorporated 27 November 2025 as a wholly-owned step-down subsidiary of MEPL, with LKR 300 million share capital, targeting renewable energy and BESS markets. An operational base in Sri Lanka provides an export hub and diversifies revenue beyond India for the energy-storage business.
7. ₹200 crore preferential issue in pipeline - On 19 February 2026 the board approved a further preferential issue of up to 10 lakh shares at ₹2,000 per share, aggregating up to ₹200 crore, with a monitoring agency being appointed as required for issues above ₹100 crore. If completed, this third raise would bring total fresh equity to over ₹520 crore, funding the next phase of capacity build-out.