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Magnus Steel and Infra Limited (formerly Magnus Retail Limited, BSE Scrip: 517320) has issued the notice for its 47th AGM to be held on September 30, 2025 at 3:00 PM via video conferencing, along with the dispatch of the Annual Report for FY 2024-25. The company reported a strong turnaround — revenue from operations jumped to Rs. 318.81 lakhs from Rs. 66.54 lakhs in FY23-24, and it swung to a net profit of Rs. 5.67 lakhs versus a net loss of Rs. 37.81 lakhs in the prior year. No dividend was declared, as the board is conserving funds. Three resolutions are on the AGM agenda: adoption of FY25 financial statements, re-appointment of Managing Director Mr. Karronn Naresh Bajaj (DIN: 09375579) who retires by rotation, and appointment of M/s Ritesh Sharma & Associates as Secretarial Auditors for a five-year term (FY 2025-26 to FY 2029-30). The company has pivoted its business to trading in iron and steel products including engineering goods.
Shareholders should note the significant revenue growth and return to profitability after a prior-year loss, though the absolute profit remains small. No dividend means no immediate income for shareholders, but the business pivot to steel trading signals a strategic repositioning. Voting items include a director re-appointment and a new secretarial auditor for a five-year term.