Enclosed intimation regarding appointment of Internal Auditors for the FY2026-27
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Magna Electro Castings reported audited FY2026 results with revenue from operations growing 11.3% to Rs 19,643.75 lakhs from Rs 17,644.92 lakhs in FY2025. However, profit after tax declined 20.1% to Rs 1,847.45 lakhs from Rs 2,311.70 lakhs, while EPS dropped from Rs 54.62 to Rs 43.65. The company commissioned its Third Moulding Line in June 2025, resulting in significantly higher depreciation (up 92% to Rs 887.38 lakhs) and finance costs (up 265% to Rs 98.52 lakhs). The Board recommended a final dividend of Rs 5 per share (50%). Key leadership re-appointments include Sri N. Krishnasamaraj as Managing Director and Sri M. Malmarugan as Executive Director - Operations for five years each. The company also approved a material related party transaction with Samrajyaa Precision Machining Private Limited.
While revenue grew modestly, the significant decline in profitability due to higher depreciation from recent capex and increased borrowing costs may concern investors. The dividend and clean audit (unmodified opinion) provide some support. The ongoing expansion and re-appointment of experienced leadership indicate continuity.