Enclosed the Outcome of Board meeting held on 10th February, 2026
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Magna Electro Castings' board approved unaudited results for Q3 FY26 (Oct-Dec 2025) and 9M FY26. Revenue from operations grew 11.2% YoY in Q3 to Rs 4,797.58 lakhs and 13.7% YoY in 9M to Rs 14,882.64 lakhs. However, profit after tax fell 22.8% YoY in Q3 to Rs 375.23 lakhs and 13.6% YoY in 9M to Rs 1,581.78 lakhs, with EPS dropping to Rs 8.87 in Q3 from Rs 11.49 a year ago. Margins came under pressure from sharply higher depreciation (more than doubled YoY) and a one-time employee benefit provision arising from the new Labour Codes effective November 2025. The board also cleared a Rs 39.60 lakh equity investment in First Energy TN1 Private Limited to procure an additional 1.1 MW of solar power under a Group Captive scheme, and approved setting up a new South Campus at Pollachi for ancillary activities with no addition to manufacturing capacity. Statutory auditor VKS Aiyer & Co issued a clean (unmodified) limited review report.
Mixed picture for shareholders: top-line growth is healthy but profitability is weakening with rising depreciation and one-time Labour Code costs dragging margins and earnings down meaningfully on a YoY basis. The solar investment is small and operational, so the near-term stock impact will likely hinge on whether margin pressure persists into Q4.