Intimation regarding change in Senior Management Personnel of the Company
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Awaiting price reaction for this filing.
Magna Electro Castings' board approved audited results for FY25, reporting revenue from operations of Rs. 17,644.92 lakhs (up ~23% from Rs. 14,369.78 lakhs in FY24) and profit after tax of Rs. 2,311.70 lakhs (up ~53% from Rs. 1,510.92 lakhs), translating to an EPS of Rs. 54.62 vs Rs. 35.70 last year. Q4 FY25 revenue rose to Rs. 4,551.06 lakhs (from Rs. 3,634.58 lakhs) with PAT of Rs. 481.67 lakhs. The board recommended a final dividend of Rs. 6 per share (60%) and approved the appointment of Ajeya Vel Narayanaswamy (son of Managing Director N. Krishnasamaraj) as Executive Director – Marketing for 5 years, subject to shareholder approval. Additionally, Neville Gnanaraj V was promoted to Vice President – Design, internal, cost, and secretarial auditors were appointed/re-appointed for FY26, the 35th AGM was scheduled for 4th September 2025, and a material related party transaction with Samrajyaa and Company was recommended.
Strong FY25 earnings beat with ~53% PAT growth and a healthy 60% dividend are positive for shareholders. However, the elevation of the Managing Director's son to Executive Director and a related party transaction signal continued promoter-family consolidation at the board level, which investors should weigh against the strong financial performance.