Revised Outcome
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Awaiting price reaction for this filing.
Magnus Steel and Infra Ltd has resubmitted its annual financial results for FY25, correcting a procedural error where a Limited Review Report was originally filed instead of the required Audit Report. The auditor (Vermas & Associates) issued an unqualified (clean) opinion with no key audit matters flagged. For FY25, total income rose sharply to Rs 319.01 lakhs from Rs 66.54 lakhs in FY24, while the company swung to a small net profit of Rs 5.67 lakhs from a loss of Rs 37.93 lakhs. However, other equity remains deeply negative at Rs (465.42) lakhs, borrowings stood at Rs 176.35 lakhs, and operating cash flow was negative at Rs (10.88) lakhs. No dividend was declared.
This is largely a procedural correction and should not affect the stock price materially. The underlying business shows a strong revenue jump and a return to profit, but the deeply negative net worth and continued cash burn mean the company remains financially fragile despite the headline turnaround.